This pair performs on weekly basis. This correction comes all along 2015 and may encounter a yearly support near $86.5 Happy trading! ____________________________ SPECIAL CHRISTMAS OFFER: SUBSCRIBE to my TRADE SIGNALS and get 30 days free-trial. Suitable for all traders. Please, contact me via Private Message, Email (insidemarketfx@gmail.com) & Skype...
My trade plan was to short within a 5 waves consolidation: As you can see on the current chart, there is a minor consolidation around the monthly trendline. Once it breaks, it allows the yen to go further on correction. This trade were available for my subscribers at Dec. 1st. Cheers! ____________________________ SPECIAL CHRISTMAS OFFER: SUBSCRIBE to my...
Looks like I'm heavy on the Yen today as I'm currently short both the GBPJPY and the USDJPY with sell limits resting on the EURJPY as well. On this particular chart we have both a bearish Gartley and Bat pattern depending on which impulse leg to decided to use as your "X" It's good to be back in the markets after taking a week off for Turkey. Hopefully we can...
Dollar-yen bulls may be forced to take pause after central bank decisions, from each respective currency, give traders something to chew on: The FOMC minutes yesterday were nothing short of redundant. I am beginning to think it is the same speech month-after-month, but financial outlets took whatever they could to spin it as hawkish as possible. That should...
Today's open may very well have hit the lows as it took a strong bounce from there. Other Yen pairs displaying the same price action. Further confirmation could come from break of upper trend line, aggressive positioning from current levels against the lower trend line. BOJ up this week, could be the catalyst.
A reversal may occur around $124.000 Happy trading! ________________________________ TRADE WITH INSIDEMARKET! Please, contact via PM, email (insidemarketfx@gmail.com) & Skype (@insidemarket168).
Entry 120.606 Stop 120.19 Target 122.20 Move stop to break even once above 121.49 Enjoy!
Looking at a potential Bullish Cypher Pattern here on the $USDJPY. Normally I would tell you that this particular pattern is coming in at a nice level of previous structure support, but with the Yen being trapped within this consolidation area since late August, I don’t think it makes much of a difference. If you didn’t get a chance to hear is yesterday check...
The weekly index chart, with monthly MTPC overlay shows a vivid picture, that of a constantly weak yen. We are right at a longterm downtrend mode resistance from the historical high back in 2007*, and the last test of it resulted in the start of a very volatile monthly downtrend. We have this mode resistance as the first obstacle for new highs, as well as the low...
Nikkei is consolidating forming a bell curve, if you look at the profile shape from the low. The weekly downtrend that fired in August has now expired, which means there's a possibility that price goes up to retest the downtrend mode. I see this as improbable and would suggest looking for shorts once the targets on chart are hit, or the low volume resistance zones...
With commodities collapsing and the BOJ announcing further easing and loose monetary policy, AUD/ JPY provides the best instrument to ride both the decline in commodities and the softer yen.
There is an exhaustion of the last correctional wave (divergence on MACD indicator) and some price action around the weekly trendline. Happy days!
- DOUBLE BOTTOMED @ 89 LEVEL (HIGHLIGHTED ORANGE) - RECENT LOWER LOW - INNER TL BREAK - LOOKING FOR A LONG UP TO OUTER TL (61.8% FIB + MONTHLY RES + 3RD TL TOUCH) - LONG TARGET = 96.000 LEVEL - BEARISH PA OFF SAID LEVEL COULD THEN WARRANT A SHORT TARGETING D1 FIB + MONTHLY SUPP - SHORT TARGET = 84.000 LEVEL
Quick clean idea on EURJPY. Drawn Support and resistance based on structure, wedge tightening. Fibonacci retrace level shows 61.8% reversal possibility occurring from last months High/low point. Commodity channel index also heading south after being heavily overbrought Seeking entry between 136.350 - 136.450 watching smaller TF's play out before...
For more than a month now, $USDJPY has been trading inside a 200 pips range, between 119 and 121. We've seen this pair stuck between 119-121 in the past (last time it was for two months between mid March and mid May) and the result of the breakout was a 600 pips rally towards 127. In which direction we should expect $USDJPY this time? Will it happen today...
Brief EW analysis of the Nikkei index suggests we're at the top, or close to it. As per my USDJPY/Nikkei chart, the area above is a very strong quarterly chart resistance. A move above 23155 would invalidate this scenario, making wave 3 the smallest. Just something to keep in mind. Good luck!
We have an interesting scenario here, with the possibility of Nikkei topping, and the Euro on the verge of being devaluated by the ECB's monetary policy. The setup offers a great risk/reward ratio, so I wouldn't hesitate to take it. Target is the AB=CD completion from the top to the current sideways range, but it will probably offer plenty of shorter term...
Simple trade setting up after a week's advance. Entry under the weekly low and at 95.051. Shout out to jangseohee and justatrader, who are already on this trade. Good luck to us all!