Usdjpy

Quote from Chood:

Upping set up 50 ticks, meaning long entries starting at .--8650 and lower. All else the same. Not going to miss this train.
More...

Plenty of YEN next month futures (June) traded at .008650 Friday morning (US), on that tick exactly, but only relatively few a wisp lower than that. I entered four longs Friday, as said, which is only one-fourth the size I hoped to have by now.

I've added four more longs this Monday (Asia) session, my avg in now is more than 75 ticks higher than the highest entry in my original set up.

Late = loss.

Stops at .008605, tighter than original set up, to maintain a 3 or 4 to 1 reward to risk.
 
Quote from Spectre2007:

usdjpy to 113.30
More...
What is your reasoning for this projection? If you take a closer look at the yen cross rates (EUR/GBP/AUD vs JPY), they're really pointing strongly bullish. AUD.JPY is already back above its 50 sma and returned to mid-Feb levels.

USD.JPY has been weaker out of the gate to reverse than the other yen crosses (thanks to the death spiral of the DX), but 113 implies a resurgence of yen strength the likes of which no yen cross is portending.
 
Actually I reckon the BOJ could make some very hawkish remarks after the meeting today and could drive it back up to mid 119 or beyond at least until the next Fed rate decision. Nikkei rallying strong yesterday and today kind of reflects this sentiment in the market.
 
Just taken a short USDJPY position @ 118.25; with a stop and reverse order @ 118.55; targeting 115.15 low.

I was talking about the ascending triangle forming on the daily chart for this pair; I still believe it is a valid signal as long as price is still below the 118.48 mark.

Triple tops divergence is clear on the 4H chart.

first checkpoint is the rising channel TL; then the downtrend support and also the uptrend line; and at last the 115.15 support level.

** 118.48 is the major level to look at; violation due to news releases wont be considered unless its technically confirmed.

** a technically confirmed break of 118.48 would set a target of 121.60 north


** thought to share my analysis with you; and sure your comments are most welcomed.

GL GT and good bye for now :D
 

Attachments

Watch out for a dollar rally the first of the month. Im short at the moment, but will probably try and take profit and reverse in the next couple days.
 
You must log in or register to reply here.
Back
Top