the pair has been on quiet a run of late and might continue on the short term but still a short is in sight during the coming week or next so stay focused
the RVI is still showing signs of a long in perspective even though the pair approached a support zone
Here's another trade with the Spectro M2 trading system.
Remember this short is yet to be confirmed, so stay tight and wait for the entry confirmations.
Also, there's a good possibility that it might breach this level and we might see another small bull run before the correction, just apply the same entry logic and use the adaptative pivot...
JPYAUD appears to be forming a bullish flag. Too early to tell, but if going bullish it is usually a good idea to wait for a pull back. Waiting also gives you the opportunity see any sharp reversals and change your mind. Expecting to see a pull back/sell off because of the recent bullish activity, however if all goes as planned it will continue to rise higher and...
JPY is moving in a nice range for the last while, which means we're going to trade mean reversion. I've learned that RSI, Stochastic and other overbought/sold indicators are more useful for this than trend trading, so we'll rely heavily on them for this type of setup.
- JPY is right at the top of the trading range, being clearly rejected with fat bearish candle...
March and April were bad months for my trading, but I still have factual reasons to believe that my thesis still holds in JPY strength.
It was a rough 2 months for me trading the JPY. I lost in USDJPY when trying to short the pair; however, the JPY trade-weighted index is now at a weekly support level. It looks like it has found support here for...
It seems that the Yen TWI is awakening after falling to 50% weekly fib suppor. No one know if it will hold. No further evidence has shown up on the weekly chart, but it is reacting at this level.
8 Hour view:
After completing a 5 waves upmove which ended up broken in a strong impulsive manner, the yen is stuck in a Consolidation pattern which remains yet to identify but could be a Range.
After failing at breaking lower, price bounced and is now forming what looks to be bullish flag. Unless price manage to break the bottom, I'd expect more upside to revisit the top of...