FX:USDJPY   U.S. Dollar / Japanese Yen
131 11 0
Buy at current market price, with targets of 99 and higher
By the way , which is the broker that you use to trade?

There is a trading program that I'm currently working on . If you would like to trade live with me (Online) , All you need is a Skype account and a $300 USD initial deposit.
I will further increase your balance to $600 by providing you with an extra $300 USD credit so that you are safe guarded and, yes why not? It's always better.

Let me know if you wish to trade live and perhaps make real $$ scalping the markets
Email me @ Jaykhanna@live.com

AncientM Tristar
Thanks for your offer. I trade with Hotforex. Will let you know later.
Hi there, well you see trading has two aspects to take into consideration. Number one, is that besides the technical's you need to understand trading psychology as well as fundamentals. The One fundamental reason to why we should rather not wait for the consolidation is that is that the bond buying in Japan is going to continue, this depreciates the value of the YEN. However, the major dips that you see in the USD/JPY is due to the intervention from the Bank of Japan, so when you see a major DIP in the price of the USD/JPY look carefully for further developing patterns for about 1-2 days, and if prices happen to remain stable , there should be a rise in price (Gradually). The trading method for the USD/JPY is that the decline in prices will always be sudden, but it will rise gradually.

Now, besides the fundamental's that we are aware of.
I want you to pull up the stochastics indicator , and I want you to put the %K period as 8. and the slowing period as 34 with %D as 34. if you look closely, whenever the fast moving 8 crosses 34, there should be an increase in price trend, I will be building another chart for this. Keep yourself updated.

Good luck

AncientM Tristar
I was not aware of that bond buying factor...Got it now. Thanks
Chartreader AncientM
Not clear how much the bond buying factor is in act since YEN was looking to appreciate against USD in the last couple of days!
Very bad luck on USDJPY....! Instead of going up, what it did!
Tristar Chartreader
I don't know what pair you are looking at, my targets have achieved.
Why not wait for the consolidation to be finished!
Hello, I perhaps should have put in some more indicators to help you with elucidating several trading strategies on the YEN, although I've noticed most of my indicators cannot be displayed on this chart which makes it pretty difficult.
(1) Firstly it is very important to understand price trend, and chart patterns. Looking at the current chart pattern we see multiple reversals once touching the trend line that is drawn on the chart.
(2) Second, looking at the current chart pattern that is developing it looks like an inverted head and shoulder pattern, perhaps breaching the continuous trend line.

Now that we are done getting the jist of the chart pattern that is currently developing, we should be drawing certain pivot points, such as $96.73 is a level that it should perhaps definitely reach before a bounce back above towards $99. Hence, I would recommend increasing buying at $96.73 levels.

Now lets have a look at the technical's. On the Daily chart the USD/JPY is still over the 200 DMA levels, which still lies in the bullish zone. The other sign is that of the 1460 EMA period. This lies below current market price of the currency pair, which still calls for a bullish price trend.
If we look at the 15 minute chart. we see that the 200 DMA is also just below the current market price, but the 1460 EMA is exactly above the price trend. leaving the price trend stuck in between both the 1460 EMA as well as the 200 DMA . This calls for good scalping opportunities whilst the price lies in between.

Now the first answer to the question to why I would be buying before the price rises is because the price still lies onto the bullish zone with the help of the technical's as well as the price pattern, and that any dip in the prices of the USD/JPY is another buying opportunity.

Rest, you can follow me for more info and trading strategies..

Good Luck trading

Jay Khanna
could you please explain your idea so we can all learn ?
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