JPY at end of trend?

[Now is Now]

JSS

How is your x2 trading exercise going...lost track....should have cracked 100% by now!!!

NiN

 

[JSSPMK]

Quote from Now is Now:

JSS

How is your x2 trading exercise going...lost track....should have cracked 100% by now!!!

NiN

I got tied in Ninja trade for a while now, not quite 100% yet

 

[JSSPMK]

Hopefully building right shoulder (Daily).

Break of neckline ought to be quite 'explosive' to upside, potentially capped be around 87 momentum wise, but 89+ ought to be achievable as it is 20 SMA on Monthly, which historically has been tagged on so many occasions.

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3029098>

 

[JSSPMK]

C'MON!!!!

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3029939>

 

[JSSPMK]

Quote from JSSPMK:



<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=3020461>

Buy pattern on Daily chart (price + histo) now points to break of this damn TL with next target being 87 zone.

 

[Roark]

So you are long USD and short JPY? The latest data point on your chart looks like a good entry point to get short USD and long JPY.

 

[JSSPMK]

Quote from Roark:

So you are long USD and short JPY? The latest data point on your chart looks like a good entry point to get short USD and long JPY.

If you are following a trend you are quite right, this ought to be a technically sound entry to short USDJPY. But I believe price is at a temporary trend exhaustion phase. Traders tried to push price through 80 & failed. November bar pretty much engulfed October bar. 20 SMA Monthly is magnet (~90).

For USDJPY to break 80 we need some sort of bearish event in equities or FED to announce QE3.

 

[JSSPMK]

<img src=http://www.snalaska.net/cot/current/charts/JY.png>

 

[Roark]

I can't tell jack from that and evidently you can't either, which is why you had no comment regarding the image.

 

[Temujin]

USDJPY may be turning....

To play JPY weakness, position to acumulate AUDJPY and NZDJPY.

Good luck, temujin.