The past few days I've shared my trades that the yen will continue declining in value, and that now was the time to short it. Specifically, I have trades on to go long AUDJPY and CADJPY, and a pending order to go long GBPJPY. And now, I'm adding a long NZDJPY trade to this as well. By now the setup is familiar: the pairs were all trending up, but have recently...
We've been waiting for the bearish Cypher on USDJPY for a while now and as the market churns legs for multiple other advanced patterns have been created as well. The smaller bat is the only one on my current radar with the others in the back of my mind for a possible completion later in the week as we get into more oft he fundamental announcements.
We've been seeing CAD strength, as well as JPY weakness over the past few trading sessions......and so long CADJPY was only a matter of time. And now, the time has come! :) I'm going long at 94.33, where we have a support level that recent candlesticks are forming a wick around, suggesting buyers are stepping in to defend. Also of note is the presence of the 50...
The Yen has been building in strength through the summer. Here price has entered in to a small range(within a larger downtrend), with price being rejected at the .618 fib retracement and the resistance line, which created a confluence of resistance. Recent candle wicks show rejection at the 101.800 level, so I suspect this retracement may becoming to an end. ...
Double Top at S/R RSI Bearish Divergence Waiting for a close below DT structure Then waiting for FIB618 retracement for entry This reversal also coincides with a possible Bearish Gartley pattern forming on the 1hr chart
USD/JPY has been in a range since the start of the year (2014) which has admittedly been getting tighter in recent months. The target profits coincide with key fib retracements. I am looking to keep this trade open for a good couple of months so People may consider this risky at the moment with the news surrounding Portugals banks which will drive demand for the...
Friends, As twitted yesterday (See: "$TNX reached forecast support last month; now threatens loftier rally - Watch $USDJPY" here: twitter.com), a discreet break of overhead resistance indicated a potential rallying to new highs. This comment concerned a simple analysis of the benchmark 10-Year US government bond ($TNX) relative to the current positively...
2H Chart: Today; I'll be keeping a very close eye on the 30M-1H charts on the yen pairs. I think we will visit 101.85 before we start moving back down towards the 101.5 support line. I'll be opening a short position for this week
The 6J is officially dead in the water. We will avoid this until we see defined breaks. See our last posts for break areas. If you think you "must" trade it...understand it's going to be choppy ride and it will most likely eat your trade account. Be patient and find a better instrument to trade. Keep your powder dry.
Like a rolling surfable wave that builds up before it crashes, the technical indicators tell us that the AUDJPY is about to fall.
Everything is said on the chart. One can see my previous analysis published. It looks like we can buy at around 101.5 and sell around 103.5 The swing trade model.....
The 6J has broken out (minor) to the downside and we are at the go-no go area. Aggressive traders will sell this area. We are being very cautious due to the recent false breaks. We choose to sit this out until we see a better break. What does that look like? If we break 9725 on the down side we will nibble (very small) to the downside. If we break 9920 on...
I use the currency forecast poll and compare my own view on the market with the experts who get paid for their forecasts. In this case I have used the USDJPY. I believe that the technicals signal a move down to about 101.5. Here is what the pros say: www.fxstreet.com I also use the awesome oscillator. When we see the awesome oscillator move below the zero line,...
Following my previous post on EURJPY. Traders pointed out that the pattern I posted was not a gartley. Indeed I did spot a correct gartley pattern, but I made a mistake and started the "X" leg around 138.771 when the correct "X" leg was suppose to start at 136.280. So this caused confusion and was the reason for the pattern not looking like a Gartley. The "D"...
Target 1- $102.063 at the 38% fib level Target 2- $101.811 at the 61.8% fib level Trade at your own risk
There is a Butterfly pattern on the daily chart. Price has been ranging around the 38% fib level. There is also another bearish butterfly pattern on the 4hr chart. I believe this is continuation for a downtrend to Target 2 at the 61.8% fib level.