Betting on the Euro resuming trending downwards against the Japanese Yen. Stop loss set at 50% ATR and last high.
Our previous attempt to go long did not have follow through hence essentially a scratch trade. However is worth looking at again, hence - below is the updated details from the previous chart. In my view most YEN pairs have completed the bullish cycle from moving of the 2011 low. Hence many have formed a top or are in process of doing so. CAD has been on...
Entry = + CCI cross. SL= D point @ 93.93 TP1 = 100% fib @ 106.45
First profit target should be at previous key resistance. Hopefully, we can catch a bigger uptrend with the remaining position. Trendline starts from mid-October if you look the daily chart!
I like to think that each currency pair has its own genetic code. Some pairs move very harmonically, some pairs do not. One of the reason that I like to keep my trading portfolio small is so that I can get a good feel for how each pair likes to move. Over the past few years I noticed that the USDJPY likes to go on these insane rallies....followed by consolidation...
Hi Yen Risk Takers, Straight to the point> (1) USDJPY is generally trading in a Bullish Environment Since Oct 2013. (2) We note a very clear immediate Elliott Wave formation developing. Currently price is in Corrective Wave 4 with possible Wave 5 projected in the future. Seasoned Elliotticians should be able to spot a bigger Elliott wave at a higher...
Rate of inflation has been falling since June 2014. A total of 0.9% damaging any prospects we will see a rate increase near term. The Yen remains weak against the Dollar due to monetary policy divergence but with the sovereign debt crsis remerging in Europe, the Yen will even out against the European currencies. Potential Crab setting up, we could see 176.16...
UPDATE 23rd DEC In London right now and just had my porridge and what do you know I spot a bullish flag. These are very common when using ABCD Fibonacci extensions. This technical analysis concurs with my previous eurjpy analysis tagged below and shows a higher target than I previously anticipated. This geometrical formation has given me more confidence in...
A long-term look at the AUDJPY cross allows us to see a clear trendline resistance at the 101.70 level. Now that the market has fallen 400 pips after coming close to its 2013 highs in November, a long term double top seems possible. In a similar idea, I suggested a USDJPY reversal for the beginning of 2015, which I also see with the AUDJPY cross now.
USDJPY has been like a super freight train out of control in its bullish trend. This has been so impressive that most in the trading world are now extrapolating this into the future and eyeing 124 and above. Whilst these level might still be reached in the future there are enough reasons to expect a decent pull back to offer shorting opportunity for the...
Lots of build up in momentum today. Between consumer price index, unemployment, and overall household spending we should see markets take a move back towards 118 or fall back to 116.4. right now we are testing 117.6 and hoping it might start heading back down to 117.35 (metrics I'm waiting to short this market). Roughly in about 8-9 hours we'll see these markets...
Dollar-yen is on an amazing ride, fueled by the destructive policies set forth by the Bank of Japan. Nevertheless, the run-up since Oct. 31 has seen its share of pullbacks; and, if price action closes below the wedge ascending support, the pair will likely test minor support levels at 117.75 and 117. However, it would be constructive for dollar-yen to pullback at...
Sitting at a happy 102 I reassessed my long position and closed it in profits. Currently, we are reaching a cross over on the 30Minute chart and 1HR chart. Don't see it sitting low for long, probably see a 0.50cent drop and rise within the next week or two. No real data on this call, just speculating
1) SP500 on ALL TIME HIGHS, MEGAPHONE pattern, GLOBAL RISK OFF 2) Investors confidence extremely BULLISH 3) YEN INDEX is technically EXTREMELY OVERBOUGHT, ABOVE 2 STANDARD DEVIATION BOLLINGER BANDS on daily basis 4) USD is EXTREMELY OVERBOUGHT aswell as US growth has been EXAGGERATED. Wage growth is WEAK, and INFLATION EXPECTATIONS are really WEAK, so FED...
There's a nice bounce today off 23.6% fibs for a good short entry if you have not done so. A reversal is currently underway for GBPJPY, as traders starts taking profit off longs against the Yen. Stops are placed at the previous high of 184.305, with 2 take profit area at 61.8% & 88.6% fib respectively.
BOJ is exporting deflation to the rest of the world and has also lifted all global stocks as BOJ has said it will be buying global stocks and bonds. It looks like the 33 plus year bear market in the NIkkei may be coming to an end.
Japanese authorities surprised everyone on Friday by increasing their already aggressive bond purchases (QE) by a third. In addition, it will expand those purchases to include stocks and real estate investments. The Japanese pension fund also announced that it will increase its allocation to domestic and foreign stocks. That gave a huge boost to global stocks. The...
Composite Yen crosses provide an interesting way to look at the unfolding Yen scenario. I'm applying my own ARS Gann Lines here along with fib-circles for timing and a fan for slope... The Gann -45deg ( dashed yellow ) and -90 deg lines ( dashed red) provide targeting guidance for major moves to come. The equations use square root values plus or minus the...