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.
Bonjour,
The JPY pairs have a reputation of being temperamental ... and rightfully so. Throughout my professional trading career, I've traded these pairs quite successfully but I'm also aware how quickly they move.
As I looked over the weekly charts of the USD/JPY today, I realized that we might just be seeing the start of yet another huge move to the upside....
Multiple long wick occur around support area suggesting that the price would not go any low than previous low (mark in chart). Currently price is at my decision point and i am looking buy opportunity only this time with 1:1 R:R
It's a simple trade - keep a lookout for this formation!
9th December's giant candle, and the inside daily candle for 10th December.
A close below the HIGH/LOW of 9th December's red candle can potentially spark a breakout in that direction next week!
In this case a close below seems highly likely.. Good luck.
Alongside my previous published idea:
I mentioned that if the pair failed to break above 123.44 and close strongly, the pair would fall - and that came true.
Currently, we are looking at how the pair retraces the recent leg down - and watch if the pair manages to consolidate back into the month long channel, or fails to do so.
I am placing orders to SHORT UJ at...
