IvanLabrie
Long

JPYUSD: Long yen, deleveraging in the background

FX_IDC:JPYUSD   YEN / US DOLLAR
8 months ago
In this chart I analyze the currently active signals in the JPYUSD             chart, as an alternative way of approaching USDJPY             to prevent biases.
I'm seeing an active 2 week trend, which has until June 27th to complete, but also if you dial down to the 3 day chart, you can see a valid uptrend signal emerging from the recent 'impulsive' leg to the upside.

I'm interested in going long the yen in this zone, and aim ideally, for a retest of the dowtrend mode near 0.009875.
The time at mode signals, tell me price could stop at 0.009256 or 0.009489, so, take heed of these particular levels, for either a retracement or reversal of this trend.
I'd expect the equities to correct the recent advance, in the wake of this yen uptrend continuation, as risk off sentiment takes over once more.

The trade: Go long JPYUSD             , or short USDJPY             , ideally on a retracement, but if not, you can take it at market price and keep stops 1.2%+ away from this week's close.
Target a 3 to 10% distance from entry, approximately. Holding time, or ETA to reach the targets is before June 27th.

Good luck if taking the trades.
Cheers,

Ivan Labrie.
8 months ago
Comment:
snapshot


Monthly view of USDJPY. The time at mode target predicted the top (minimal margin of error).

There's a monthly RgExp target at 102.517 that has to be hit during May to confirm the downtrend's strength.

3 day chart:

snapshot
8 months ago
Trade active
8 months ago
Comment: Above 0.009092, nothing's stopping the rally.
8 months ago
Comment: We're approaching the 'nothing's stopping this rally' mark, watch closely.
8 months ago
Comment: Target 1 hit, I'm following this one closely in my other publication.
7 months ago
Comment: The blue box which was resistance is now support. Let's see if it goes for target #2 and #3.
7 months ago
Comment: Back on track.
6 months ago
Comment: Long after retesting low volume support.
5 months ago
Trade closed: target reached
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
aibek
8 months ago
Hola amigo! Nice chart! See the same targets in EW.
+1 Reply
moneymaking
8 months ago
Hey mate, I was wondering based on your analysis do you see any type of deep pull-back happening in usdjpy, to enter into a short position with good risk to reward?
Reply
moneymaking
8 months ago
No retracement, that hurts :(
Reply
IvanLabrie PRO moneymaking
8 months ago
Exactly, these trades rarely give an entry when they work.
I'd rather jump in as it moves, then maybe add on retrace if it happens.
+1 Reply
moneymaking IvanLabrie
8 months ago
Yeah, will see about that. Thanks :)
Reply
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