Momentum is finally waning in the sharp down wave on this pair.. we have broken the trend line and although there may be a sell in play right now watch for the bigger move set up for a buy back up to the higher trend line. Lets see if we get this set up this week..
Comments
lukelehepuu
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Interesting chart! how do you feel about the strength of the Yen next week? I am kind of hoping for an icnrease
docholliday
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see this one
lukelehepuu
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Fair enough :) I think I am looking at a bigger TF,
docholliday
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Could have a bit more downside, but to me at this point is looking limited.. certainly will not buy until I have a nice set up.. some go .. some don't .. if they don't I do my best to limit losses.. and the ones that do.. I try to max out ;).. we will see.. Im already in UJ so will have to be really nice set up for me to buy in.. don't like too many eggs in same basket..
lukelehepuu
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great philosophy to have, I like the pairs trades, buying GBPJPY and selling EURJPY or something along those lines! I am short GBPJPY as I expect there to be a further decline in the indexes, historically speaking GBPJPY has followed it down when it does, so we will see! good analysis :)