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on 1H and 4H level it doesn't look as strong as yesterday to me. Too much Yen short on CME (don't have English link), Draghi yesterday and NFP today. probably better stay away or challenge a short.

http://hojin.ctot.jp/markets/imm_position.html
nice. Immediately after my last post. G/J crashed and gave me some profit. but earthquake on east side of Japan now......Dunno how serious but TV stations are all giving severe warning.
dunno if this move is reaction to earthquake but I'm completely out of Yen today.
New info on TV. Magnitude 7.3 affecting the entire eastern part of Japan and possible tsunami wave on the shore
Nikkei Futures down about 70 yens after the earthquake but half recovered already. The market is not panicked and looks OK so far.
Quoting forex_J
Nikkei Futures down about 70 yens after the earthquake but half recovered already. The market is not panicked and looks OK so far.
Yap, no panic yet, but if it starts sliding down...
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Quoting IndigoPingvi
Yap, no panic yet, but if it starts sliding down...
we'll see... I'm out to dinner and will miss NFP. I wouldn't be surprised if G/J is 129 or 135 when I come back
Quoting IndigoPingvi
Yap, no panic yet, but if it starts sliding down...
These yen crosses are struggling off everything. Any selling seems to be immediately met with buying
It works till it doesn't
Can I ask where is your channel trendline? My is at 132.016 but some traders have it lower, that's why I ask.
Edit: Never mind
So i have gone with a short from here, seems like of contraversy going on at the top here. Long term trendline in effect. Any suggestions
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Back home.. G/J stays where it was when I left home.... missed actions but it looks more and more sideway to me. EUR crosses on the other hand looking straight forward especially against Oceania and Canada... U/J is forming triple top and just waits for election... This month's range is so far only 140 pips and historic low I have is 295 pips back on Dec 1994. Even the last December it had a range of 350pips. There should be a lot of actions from next week. If up, 135, if down, 129
check 132.98:131.99:131.66::levels ,did boj sell again to cause the recent spike m short at 131.75 level since 2 days m holding may go short again below 131.99 comments??????????

entered 131.95 got stopped at 132.08
Quoting jphotdeals
So i have gone with a short from here, seems like of contraversy going on at the top here. Long term trendline in effect. Any suggestions
Definitely a good tight area to manage risk, just make sure u use a SL cuz these yen crosses have been very resilient the last couple of weeks. Im still long from last week & expecting more upside momentum next week going into the elections.
It works till it doesn't
Quoting IndigoPingvi
Can I ask where is your channel trendline? My is at 132.016 but some traders have it lower, that's why I ask.
Edit: Never mind
130.80
It works till it doesn't
Hello,

Is it a Rising Wedge Pattern on H4 and Daily Charts?
Or we see a Bullish Flag Pattern?
Classical chart patterns of currencies from 15+ Year Pro Trader
Quoting aviz12
Hello,

Is it a Rising Wedge Pattern on H4 and Daily Charts?
Or we see a Bullish Flag Pattern?
Daily looks like a slow grind upwards 134.00 this is the area to watch for a break out any solid daily close above this level will open up much higher levels.
It works till it doesn't
Did some good pips selling after NFP spike. Went back almost to pre-news level and then started recovering again for the close. 131.60 area is acting as a good support, so after Fridays behaviour I'm inclined to think the pair will touch 132.80 again soon. This is a critical area, so if the pair keeps it's ranging mode is a good opportunity to sell again but I must be careful as I'm expecting a break sooner or later. 4H chart shows some nice signs of bullishness. To favour the downside, I think we should see a break of 131.60 support. Hope next week we have some action!

Great weekend for everyone!
4H chart.
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Quoting DaEdge
Daily looks like a slow grind upwards 134.00 this is the area to watch for a break out any solid daily close above this level will open up much higher levels.
True. If the move up is going to happen, consolidation between 132.40-132.80 would be a nice first sign. However, 133 is hard to break. If happens, we should see 134 easily IMO.
Quoting pabloski
True. If the move up is going to happen, consolidation between 132.40-132.80 would be a nice first sign. However, 133 is hard to break. If happens, we should see 134 easily IMO.
Before the elections on the 16th of December, everything is possible to witness some hawkish movements up or down. There are possible problems with other major currencies during this month, especially USD, EUR and GBP. I feel that technical indicators are helpless with fundamental news. Do you guess we go down to 127 for GBP/JPY, 78 for USD/JPY and 102 for EUR/JPY as some analysts expect although the break to 133.6 is possible?
Quoting gentlelove30
Before the elections on the 16th of December, everything is possible to witness some hawkish movements up or down. There are possible problems with other major currencies during this month, especially USD, EUR and GBP. I feel that technical indicators are helpless with fundamental news. Do you guess we go down to 127 for GBP/JPY, 78 for USD/JPY and 102 for EUR/JPY as some analysts expect although the break to 133.6 is possible?
You mean without fundamental news? Market behaves erratically many times on fundamentals. But the chart tells you the truth, there you have all the action and technical indicators are there to help you see it and predict it.

All is possible. We can go up or down. We have to make sure we are there to catch the move. What I think for the short term is in the post above. What are you expectations?
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