depend the action of the banks and the influence on the market i think the price may go up to fulfill the bank's orders to sell
plus there is a wedge on the chart and confirms the idea to JPYEUR's fall
Market is on its way to the moon, it may break low but we have to play it since it has a pretty secure atmosphere, 3 take profit momentums.
If the market crosses one TP, we replicate the buy.
Pretty standard corrective ABCDE pattern , we are waiting for the 5th wave, but it is possible that it is the 3rd, so the market will tell.
This kind of canals need of...
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:
EURO has hit its minimum target for the ending diagonal on the daily chart. Next week can start to watch for potential shorts in EURO in general. Strong pairs like EURAUD, EURCAD and EURNZD would provide indicator for weakness in EURO in general. EURGBP at 8940-9050 should either breakout or breakdown from there. EURUSD is a tough trade honestly and any EURJPY...