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Forex-usdjpy

USDJPY on watchAs you can see price is is just at the bearish trend. if price break, it should go the top at 121-122 area. But if price bounce it should go to the Support at 118.10-118.50 area. if price break this support it should go to the bullish trend and then we can see if price bounce or not to make another trade. For many reason i didnt put in the chart i believe more that price will turn bearish. but you know, market do whatever it wants. please comment. i would like to know your opinion
by luismialcega
Aussie probably won't push up until it re-test key support levelLooking at the pair, it pushed down to a key support level of 89.361. Traders rejected going down below those prices and the bullish momentum built up to take the pair to the resistance level at 92.309 (0.382 fib). Prices then fell to reject the support of 91.177 (0.236 fib) and break the pivot or previous high @ 92.357 to push towards the 93.101 near the 93.223 resistance (0.50 fib). Looking at Andrew's pitchfork we could see that the pair is freed from the bottom purple line and is pushing up towards the middle line (which if broke could be a possible sign of a trend reversal). However, the pair is likely to find key resistance little below the 100 day moving average (light blue line). Given that the pair is pressured by the lowered interest rates by the RBA, I expect that the pair might fail to break above the 100 DMA or the 0.5 Fib. However a break above the 100 DMA would take the price up to the 94.612 resistance level, and the long term view would still be on the down trend. A very short term long position could be profitable, but I avoid taking positions against the big picture trend. Given that the pair is still trading below the middle pitchfork line. ENJOY :)
Short
by hussein.ahmed
$YCS achieves measured move target on weekly chart $USDJPYToday's close hit the second and higher measured move that I laid out for YCS. Two months ago I posted this chart: Direct bulls-eye. The question is what comes next? One possible scenario: I could see price bounce between 82.50 and 78.50 to digest gains and then try for higher levels after a period of consolidation. Alternatively price could overshoot to the upside and then come back and retest the 82.50 level. At this point it may be unwise to initiate new longs in this ETF until things settle down. Those holding from lower levels may want to take partial profits and ride out any pullbacks as long as price holds above ~78.50 on a WEEKLY close. Good luck!
AMEX:YCS
by MaxxPayme