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Japanese Yen Futures (Mar 2015)Japanese Yen Futures (Mar 2015)Japanese Yen Futures (Mar 2015)

Japanese Yen Futures (Mar 2015)

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6JH2015 trade ideas

Japanese Yen 6J - USDJPY Long Term - Monthly This is a very interesting chart. Normally I don't look at monthly charts - but this one is special. Lots of lines on the chart - but take a moment and I'll go through it with you. Firstly I realize that most people trade currencies do so with CFDs - which is fine but the banks/funds that push the market around look at Futures Market. The red dotted line is a broken trendline ( I will add these trendlines are drawn by an algo - its what the algos see and interact with - if interested DM and tell you how to get them. Back in July we were positively divergent on RSI as (green dotted line) we were at the bottom of a known support level and the market was trying to go up. (Blue arrow points to positive divergence on RSI.) This was broken - with everybody long they jammed it down. Ouch - Its what they do. This created a new triangle - much larger, but currently untested - bottom blue dotted line. In the middle of that is an orange angle bisector (part of the algo) - and its exactly where prices stopped - exactly creating a 2.0 Fib Retracement. Sounds like something a computer program would do right? This reaction is an acknowledgement that we are now working with these larger trendlines -this means that eventually the Yen will be going down a lot more. However this could be months or even years away. This happened this week. Could we put in a double bottom? maybe but I wouldn't count on it. So now what? Well we hit a Naked Point of Control from last week today. We have back backed off a little - there are numerous untouched Naked Points of Control above and maybe we'll return to them - of course its hard to know. The median price for the year and Naked Point of Control (confluence) is at 0.08970 - I would think we make it back to that - and really a rejection there would make sense. Good luck GLOBALPRIME:USDJPY
CME:6J1!Long
by Maximilianned
JPY USD - 6J - Is the Bottom in? Woke up this morning to see that the Yen had sold off to multi year lows. While the I've read there is a 'risk off' mentality - then that should make the Yen a safe haven. So what else? Well the US Dollar is strong - right now its very divergent. We may have seen the high of the week for the DXY. This has had an impact on the Yen vs the US Dollar. This is the greatest number of Naked Points Control I've seen the Yen with - you can count them. These are the upside targets. Speaking of Point of Control - todays point of control looks to be left behind as a marker for the future return. As they closed above it - and done after hours of the NY Session. This is a 'tell' that they plan to move up from here - this should not be lost on anyone, its important. Frankly I wasn't expecting this move down - but not entirely surprised. Right now I can't think of a better trade in the Futures market. Target for me - not being greedy .0089755 - target number 2. From there I'll look at it and decide the momentum will carry us higher. We were there October 6th. Caveat here is if they take out todays Point of Control - the move down may continue or least least spend another couple of days down here accumulating. CME:6J1!
CME:6J1!Long
by Maximilianned
Japanese Yen futures short call verticalPure TA. Oversold territory, so take care of the trendline. Max profit: $213 Probability of Profit: 72% Profit Target relative to my Buying Power: 20% Max loss with my risk management: ~$250 Req. Buy Power: $1038 (max loss without management at expiry, no way to let this happen!) Tasty IVR: 34 (average at futures) Expiry: 36 days Sell 2 !6JM1 Jun4' 0.0093 Call Buy 2 !6JM1 Jun4' 0.00935 Call Credit Call spread for 0.90cr each Stop/my risk management : Closing immediately if daily candle is closing BELOW the box, max loss in my calculations in this case could be 250$. Probability of loss in this way: ~20% . Take profit strategy: 50% of max.profit in this case with auto sell order at 0.45db. Probability of profit this way: ~80%. Of course I'll not wait until expiry in any case! If you liked this article, check my other ideas. Anyway: HIT THE LIKE BUTTON BELOW , and for fresh option ideas FOLLOW ME( @mrAnonymCrypto ) on tradingview !
CME:6J1!Short
by TanukiTrade