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  • Current Trade Setup: Short EUR/JPY

    From News Archive

    A broadening formation looks confirmed today on the EUR/JPY daily candles. A broadening formation usually comes after a trend as a period of increasing price volatility (higher highs & lower lows.) The pattern usually indicates a lack of investor confidence and accelerating panic. You can see the characteristic mega-phone appearance of the pattern in chart #1 below. This may sound like a stretch to say that there is trader uncertainty building up in the EUR/JPY - just kidding. I suspect that there are a lot of traders at this level not sleeping well at night wondering if they should take some profits. From a ... (full story)

  • Post #1
  • Jul 22, 2008 1:42am Jul 22, 2008 1:42am
good analysis,i just learnt a new thing today.the candlestick formation on the daily chart.i beleive the eur/jpy will go bear too
  • Post #2
  • Jul 22, 2008 4:01am Jul 22, 2008 4:01am
Was thinking the same my self, many thanks for the post!
  • Post #3
  • Jul 22, 2008 10:18am Jul 22, 2008 10:18am
It is off to a very slow start today but I still like the looks of the opportunity. Thanks for the feedback. I will check back on this once the market decides to move one way or the other...

- Hemadri
  • Post #4
  • Jul 22, 2008 2:05pm Jul 22, 2008 2:05pm
I have been watching this myself. If you look at a 4hr chart it has bounced off the 169.60 area about eight time frames now. I think it looks good just needs a driver to push it.
  • Post #5
  • Jul 22, 2008 4:55pm Jul 22, 2008 4:55pm
into this trade..., too much resistance, stucked into the same area, subprime has not ended, what could be the detonant to send this pair into the abysm?.

yen probably near territrory when everything was beautiful, pretty, flowers and investors picnic.
Hell no, the world in a crisis!!!! short ej and pay some of your debts.
(even when Ben Benny says inflation is increasing just at 0.2 per month and economy is in fully recovery mode)
  • Post #6
  • Jul 22, 2008 6:02pm Jul 22, 2008 6:02pm
I thought you said that carry trade is alive and well?

I am just curious if you still support that theory.

Also I would imagine you meant carry trade for long term but short EUR/JPY for short term activity, am I getting this right?
  • Post #7
  • Jul 22, 2008 8:03pm Jul 22, 2008 8:03pm
Hi Charlinks

John here chiming in on your question. You will note that when we define the carry trade, we are always very clear that defining the carry by one individual pair is a bad idea. The carry trade is best executed as a portfolio strategy with several pairs. In fact, In my own portfolio the GBP/JPY and EUR/JPY are actually excluded.

So, just to be clear the EUR/JPY does not equal the carry trade strategy. Two different things.

Speaking for myself I would say that you have accurately represented my position that the carry trade is a longer term position. Hemadri's article is definitely a short term outlook for sure.

By the way - I was the one that wrote the carry trade article - Hemadri, wrote this one. Same sign in name so it can be confusing.
  • Post #8
  • Jul 22, 2008 8:50pm Jul 22, 2008 8:50pm
Thank you for the clarification!

I apologize it's hard to keep track of who the author of each article is.
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  • Story Stats
  • Posted: Jul 21, 2008 9:11pm
  • Submitted by:
     PFXGlobal
    Category: News Archive
    Comments: 8  /  Views: 1,774