Heres a possible longer term perspective
http://img257.imageshack.us/img257/3...tusdjpy8ns.gif
arco
Printable View
Heres a possible longer term perspective
http://img257.imageshack.us/img257/3...tusdjpy8ns.gif
arco
The hourly three line break gives no sign of a turnaround yet, tho in shorter time frames the corrections are causing the odd green bar.
http://img181.imageshack.us/img181/7...50420063cd.jpg
Hi Peat
114.06-114.20 is a possible Gann minor support area,
so that may be hard to penitrate at the first attempt.
Is the 3 line break helping with your trading ?
regards - arco
yeh my short term signals turned up at 115. closed at that. was worth it still even missing out with that weekend gap.
probably more in this downward at some stage as it was a long congestion period, but will wait for trend to re-emerge.
kinda doing that now...back short...Quote:
quote:Originally posted by peat
will wait for trend to re-emerge.
almost got stopped with the upsurge after the news of US production up 6 % last night, but rode through that and ended up with a couple of shorts at around 115 again , they were looking good sort of but at this stage I'm closing them out again for 2x25 pips. kinda looks uppish again, and guess I'm disappointed that a new low hasnt been reached yet.
Mmm somehow i'm transfixed that USDJPY will go lower for early next week... Can someone please try to convince me otherwise?
Well, partly cause it hit major resistance at 114.70, slight divergence in hourly MACD, and i can't see EURUSD extending below 1.2600, and despite Bernanke being hawkish, i'm predicting the inflation data isn't too bad..
..and mostly cause i'm currently short on USDJPY!
I reckon it will downtrend to bounce of the ascending channel... or if peat has been following the tunnel, bounce off the tunnel!
roddy
I am seeing similar compression (as you post in Eur/USD thread) in the USD JPY and post a pic of it here.
Note that the previous breakout in April was meaningful and substantial. Supposedly the force and distance in these breakouts is proportional to the length of their development so this one might not go so far as the last one but I'm certainly keeping an eye out for it
http://img442.imageshack.us/img442/1...8092006op4.jpg
Hi Peat
i see what you mean regarding the Yen, also on the daily chart of the Euro it has broken below short term trendline,any thoughts peat as to potential trade.
Cheers cadet roddy
yes i see that the Euro has broken out. I guess you play it in that direction! To me the Euro formation wasnt as clean as the Yen tho, and one would expect them to break out in opposite directions relatively simultaneously and this hasnt happened. Eur/Yen a factor?
Anyway I'm out tonight , not trading.