TF DAY It is in the C-wave state. and likely flag pattern please trade with carefully
Target = 105-106
Stop in 1H
Run in 4H
End of week it is break out, maybe watch for open market for sure.
Oversold : Too Much Shorted
HIgh Volume at last low
Divergence in RSI and MACD
Long UJ for 112-113 within next 2 weeks with Stop Loss at last low of 107.7
USDJPY Is in accumulation to attempt to tag a level in the 120 area. There is a lot of downward momentum on the monthly and weekly charts so watch to see if this gets absorbed. 2/3 of the wedge I would look for breakout, if we reach the apex of the wedge then it has been absorbed and will more than likely fail.
Major trend is downtrend, however, it is not creat LL and maybe it is a reversal point.
Fibo projection 100% and it is match for the resistant line = TP
UJ seems to not care but continue to drive down south....
I am afraid UJ might go all the way south to 106.718 (God forbid!) - IMHO - I do not pray for this to happen as it may affect all emerging markets, but it can't be rule out either.
113.2 is fast approaching and 106.7 possibly could transpire by the end of this weekend (God forbid)
Watch my other char. I was waiting for a bigger pullback.
Taking the risk now. Even thought it shot right through the 0.618 fib. I see this more as a stop hunt / Long squeez from people longing the top.
Even if I get stopped out the risk reward ratio is just great
moving my s/l as soon as possible to break even, If shit hits the fan I don't want to be part of...
UJ / USDJPY : With the BoJ surprise we are looking for forward for some further bullish momentum.
Possibilities to trade this:
1.) Wait for it to reach the Fib retracement around 120.46~120.10 to take a long position.
2.)More risky and aggressiv option: If it doesn't reach the Fib levels you could try to get into a long once it leaves the inner Pitchfork with...
UJ Never go weary , though he shy away in a little while but yet he will return with thick skin - aiming for 119.841
Please set your TP = 119.841 and your SL accordingly --> as you see fit :) Let's get ready to R..........
Watch UJ Close 2015 - Kissing : 120.900 (TP1) , 121.300 (TP2)
The shadow on my fib edge indicate the worst case scenario for UJ to go lower but not further than : 120.397 - and then shooting right back to 120.900 , 121.300 etc.
Watch UJ Close 2015 - Kissing : 120.900 (TP1) , 121.300 (TP2)
The shadow on my fib edge indicate the worst case scenario for UJ to go lower but not further than : 120.397 - and then shooting right back to 120.900 , 121.300 etc.
Since the fed. finally decides to hike rate by 0.25% I can see UJ kissing 123.492 again PRETTY SOON, but I will take it one step at a time and play safe by putting my short term TP @ 122.725 for now :)
