justatrader

USDJPY - Short from 119

Short
FX:USDJPY   U.S. Dollar / Japanese Yen
1612 views
23
Triangles and some clear levels established. Looking to short on a rebound to 119, targeting 116.1. Would take on another position and let it run down through to 112.315 an unfilled gap.

I suppose this will be the second trade for the coming week (besides EURUSD ).

Good luck.

Comments

Congratulations mate
+2 Reply
Great analysis, but don't you want to wait for close under(previous support) 118.369 for a confirmation to downside?
+2 Reply
justatrader Talk_Forex96
short bias was a,ready confirmed 3/4 weeks ago with a bearish engulfing. An attempt was made to push higher which then resulted in a doji a week before followed by a bearish close this week. So the analysis is based on this primary context. Of course one could wait for a further correction but that would result in reduced profits. And from the above, notice the rising trend line break and retest. Stops are placed there because if price makes a close higher then it invalidates the short bias
+2 Reply
Talk_Forex96 justatrader
I see what you mean. Great analysis. Have you already been short or when will you short?
Reply
justatrader Talk_Forex96
Looking to enter from 119. I dont trade too many pairs and especially those with negative swaps. Im well positioned to the short side in nikkei225 cfd. And incidentally most equity indices are heading to a minor decline the next week or two which gives added confidence to yen long side.

Heres a sample: http://www.justatrader.com/2015/01/week-2-2015-wrap.html
+1 Reply
Talk_Forex96 justatrader
Oh, so you would wait for it to pull back up to 119 then short?btw, nice website you got going on there
Reply
excellent :)
+1 Reply
Congratulations for the Bullseye of the Week! :-)
+1 Reply
justatrader ForceFollower
What where? I don't see any mention? Was it in the newsletter?
Reply
Technician justatrader
Yes
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out