Japanese
DOUBLE TOP ON A WEEKLY KEY LEVELAfter an incredible ending for the USDJPY, rallying crazy with no deceleration, it has now formed a double top on the daily chart. Giving us an oportunity to catch a downside move with a profit at the 112 level.
If a flag gets formed there, we would see a major retracement to the 106 level, but if it rejects it hard, we will se another test of the 118 level.
Hope you guys have a great start of the year.
USDJPY, EDU SETUP. READY FOR ACTION AFTER WEDGE BREAKUSDJPY, EDU SETUP. READY FOR ACTION AFTER WEDGE BREAK
Entries as it drawn.
Box formation on GBPJPYGBPJPY price stalled at support area and formed the formation I call "The Box". Usually, it foregoes a bigger move, so when the price exits this yellow rectangle, we may see it going fast towards next support or resistance area.
USDJPY things that go through my mind at the momment.Even though I was expecting 108 and 109 to be tested...that never happened.
Dollar bulls are now on the run. This could see further lows but there are many good reversal points.
Im currently waiting for fundamental intervention as to shift the sentiment to the upside again.
Thank you for any feedback...means a lot.
USD/JPY, Long term long position, great risk/reward ratio.Usd/jpy inverse head and shoulders, look at that risk reward, great opportunity for a position to ride up to the base of the head and shoulders, take profit along the way if your not a long term trader
Gold in Yen 6/8/2016Gold against the strongest currency (Yen right now) will give us insights as to how Gold will do against other currencies.
USDJPY : Short Target 98.7Repeated Patterns.
Making Bear flag with ascending wedge.
Short 102.1 - 102.4
Target 98.7
SL 103.050
GBPJPY SUN-MON EXECUTION 30min VISIBILITYLook to buy on a 1hr candle break and retest of 161.35 levels. If it fails to break 161.35 levels you can be almost assured sellers will take it down to 159.70 levels...
$CADJPY Smaller Wolfe Wave Nears Completion at Point 5Hello Traders,
Here is a bearish Wolfe Wave forming. This is a smaller time frame Wolfe than the larger one I have linked below and also highlighted in grey. This could potentially cancel out the larger frame Wolfe. If the larger time frame Wolfe completes at Geo"s Off-Set rule we could have a Wolfe Wave completion at 5" for the smaller Wave. It will be interesting to see how this plays out.
Side Note - The dotted orange line represents an invalidation line, something I picked up from 4xforecaster. In order to know when the projected Wolfe is invalidated, one must take the parallel of the 1-3 and place on the current point 4. If price surpasses this line, then the current Wolfe Wave is invalidated. You can view more cool lessons from 4xforecaster here: www.tradingview.com
Best,
Chartistry
Great Pound/Japanese - Selling on a pull back to the 158.5 levelIm looking to sell the GBPJPY at the 61.8 Fib level. GJ has been in a strong downtrend. Good confirmation to sell on the pull back at 158.500 with the Daily descending trend line, 61.8% fib retrace and strong resistance horizontal line of 158.500.
Let me know your thoughts!
Thanks.
USDJPY 4/12/2016Watch the lines because it is important to know which line rejected it and which line saved it. The price of the asset merely bounces between lines. USDJPY might have a bounce, given that it was recently saved by that black line, but get ready to go short again as soon as it starts to break down at that black line.
Nikkei 225 4/11/2016Watch the lines. Get ready to short as soon as it starts to break down. If it doesn't, wait for it bounce back up towards the black/light blue/green lines.
