A nice breakout occurred. Expect an eventual pullback but be ready to short :) !
The blue line is the DJIA. Implies NKY ramp in 2 Dec Asian session, which in turn implies another JPY fade.
As usual $JPN225 and $USDJPY move together, but the index has fallen a lot further. Indices normally recover first (see Brexit)
Price continue to respect and trading within the bullish channel. Our bias remains bullish until this channel is violated. Key levels to keep an eye on would be the resistance at 16934 and 17290. A break above these resistance confirms the bullish momentum and can see price rally towards 17904.
Price didn't really test the bottom of the bullish channel before heading higher. Our bias remains bullish on this. Price is currently testing the immediate resistance at 16934. A break above this resistance will see price reaching for the next resistance at 17290.
Price continued to respect the bullish channel. Price is currently trading near the bottom of the channel with a confluence of previous support zone. The 16250 area would be a decent place to look for a potential long setup, targeting the previous resistance at 17290.
Looking for correlations between these major stocks and their effect on the UJ pair.
NIKKEI seems completing a correction, so i'm expecting one more wave up on daily.
Dear trader, I'm short the Nikkei here, speculating on this being the top of the recent 'helicopter money' induced rally. The Nikkei hit a long term downtrend mode from below, and is now sitting at this level. Would be interesting to see if price proves us right and gives reasons to add to shorts, to join the impending downtrend. I'm also in a few *JPY shorts,...
After Bernanke visited Japan, and whispered into Kuroda's ear, the market reacted with a strong decline in the Yen, accompanied by a broad risk on rally that absorbed the Brexit losses. It's possible that this rally has topped, with all or most bears forced to cover their shorts, collaborating with the momentum run. If you are a 'Key Hidden Levels' subscriber,...
Political pressure no longer exists. JPY plunge a main priority for Abe now.
Global stocks bounced as expected. Higher highs on their way. SPX - 2150 / 2160 DAX - 10380 / 1399
For reference only. Time will tell what will happen in the next couple of weeks.
1. Green Lines\Arch - support areas where price can take support 2. Red Lines\Arch - resistance areas where price can get resisted 3. Blue lines - Lines where price can take support/resistance One can use this chart as trading map for next few months.
Watch the lines. Get ready to short as soon as it starts to break down. If it doesn't, wait for it bounce back up towards the black/light blue/green lines.
YOU CAN TRADE THE EXTREMES OF THE STRUCTURE ANY BREAK AND CLOSE BELOW 2012 IS AN ALERT WE ARE TARGETING THE BALANCE POINT.
SPX ENTERING A ZONE OF INFLUENCE... TIME IS CLOSE...3/31- 4/06