AbhishekHSinghCMT
Long

USDJPY- 300+ Pips Profit --I am in seventh heaven

FX:USDJPY   U.S. Dollar/Japanese Yen
196 5 4
7 months ago
USDJPY- Bang On……..300 Pips Profit ….I am in seventh heaven
Let me wish all of you & your near ones a happy and prosperous new year as per hindu tradition(Vikram samvath-falling 8th April 2016).

Excited! Me too…Why not if you make 300 pips in 3 days in the most volatile pair USDJPY- I feel like I am in seventh heaven which came on such a good time when I shall be celebrating New Year on 8th April 2016.
As per 4th April Update- “USDJPY- Mirror for India Nifty”---I was expecting the pair to kiss the zone 107-108 when it was trading@111.15-- What Happened…Why there was such a fall in the pair- Technically, when we entered in the trade@111.15- we were already in 2nd wave of v-wave(5th wave). What we were going to encounter was 3rd wave- Vow, I am really fortunate to find one. The pair had a fall from 111.15 to 107.68 as of 7th April 2016—that is the reason, I am in seventh heaven.

What Next

We shall look for temporary bounce in the pair if it sustains above 108.60- In that case the pair shall move in the zone 110.30—110.75 which will be 61.8% of current fall & possible resistance for USDJPY- Once that zone is reached & trader gets bearish confirmation, we shall again see downtrend in the pair –which shall be last wave & probably complete Bullish Bat pattern as well to confluence along with Elliott waves for a bigger bounce in USDJPY             .

Step By Step

USDJPY             going above 108.60 shall bounce in the zone 110.30—110.75- Once it hits that zone look for selling the pair on bearish confirmation for targets lower than 107.68- which shall be last wave or 5 in v of C-wave.


7 months ago
Trade active: USDJPY 1ST LEG RALLY IS ALMOST DONE IN THE RANGE 108.75--108.85
SO BOOK 60--70 PIPS AND COME OUT
7 months ago
Trade active: UJ --again will retrace in the zone 108.10--108.30 ...thos who have missed this small rally can go long in that zone for targets 110.30--110.75
Regards,
Abhishek
7 months ago
Trade active: look the sharp fall in UJ as expected...wait for going long...at minimum it should come to 108.55
7 months ago
Trade active: The bounce from 107.68 recent low is yet not given buying opportunity whoever missed so don't get carried away as it may surpass 108.98 recent high & fall later between 108.30--108.50 for joining back in the rally for targets 110.30--110.75
Regards, Trade with care
Best Regards,
Abhishek H. Singh, CMT
India Regional Manager
http://in.tradingview.com
+919833996865 | LinkedIn
TradZ
7 months ago
Congrats On you 300 Pips! Now we shall make that into a real life movie, pt.2 to 300:)
Are we now heading down for awhile:)
Reply
No...We should be little careful as pair going above 108.60 shall give us clue that it wants to bounce in the zone 110.30--110.75 which will be possible resistance. Regards
Reply
for further fall & guess that will be final wave ....which will be confluenced by Bullish Bat as well for bigger bounce later
Reply
If USDJPY goes past slightly above 108.45 & falls later may be in the zone 107.90--108.10 ...One can go long but with strict stop loss -107.64 for Targets --110.30--110.75
Reply
USDJPY 1ST LEG RALLY IS ALMOST DONE IN THE RANGE 108.75--108.85
SO BOOK 60--70 PIPS AND COME OUT
Reply
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