Daily EUR/JPY analysis

Yes. TP 149.02
nice declining stairs on 4hr

Wow, that was one hell of a break-out. I think it's still climbing!
To bad I didn't dare to trade it live. Anybody got it?

If you got burned you weren't the only one:
http://bloomberg.com/apps/news?pid=20601083&sid=aID6IMGWxSTU&refer=currency

http://img483.imageshack.us/img483/5427/eurjpybd3.gif

stop and reverse saved the day.

Last NFP I traded this cross with success, wondering if anyone has seen a pattern for good trading opp. with crosses on big USD days?

Oh wow, thanks for the earlier warning guys, and I think my 2pips were better than .. this, ofcourse

That's it ...

I have put it short on 151.34 an to 151.02 already closed

I thought it's very risk now to get in short beyond 150.80 breakout. Unless you do very short term trades.

I think technicals as well as fundamentals are ligning up for a short entry, now.

We've seen a great trading range over the last days, with nice volatility.
Resistance at 151.50 was tested several times and seems pretty strong.
http://img208.imageshack.us/img208/812/eurjpylz9.gif

Daily TD sequential completed 9, wheras most of the time the reversal happened already at 6 - may be a warning sign.
http://img205.imageshack.us/img205/2493/eurjpy2kw1.gif

Head and shoulders on the 30M?
http://img225.imageshack.us/img225/363/eurjpy3gj5.gif

On my demo I'm in since yesterday 151.36. But it's probably better to wait for some confirmation e.g., a break of 150.10.
What do you think?

Excellent analysis... but I'm already short from 150.99.

I'm still waiting. lol
It can't seem to make up its mind. Touched 151.08/09 six times already.

Another good risk/reward would be to limit sell at 151.40 or so with a tight stop loss of 151.55. But its not my style, rather wait for the breakout.

I also have a short in my real account but I keep having this feeling from looking at the way the pair is behaving that it is trying to make a serious move up before falling like a rock.

Part of the reason for thinking this is that the pair DID NOT fall when fiber fell over 30 p[ips yesterday. Also it has gone up iat the same time that the stochastic was going down. Generall when I see this kind of behaviour it is because a move up is in the making but is for some reason delayed.

I am going to keep my short but may have to put on a long to balance the drawdown if the pair heads up a lot, then I will sell the long at turnaround and replace it with another short position at a much better entry than the one I alreqdy have.

This may not be the world's best strategy but it will work for me under these circumstances.

I'm in from 150.13
Not a very strong move till now, but lets see were it will take us.

http://img381.imageshack.us/img381/3746/eurjpyxs1.gif

Cool deal! According the xe.com the mid-market rate is around 150.95 as I type. It started to creep back up between the time that you posted and the close... nothing drastic, though.

Anyone still short this pair?

EUR/JPY keeps hitting all time highs and then keeps bouncing back off. When it does that, short it. Is that simple enough?

The definition of insanity is doing the same thing over and over again, and expecting different results.

I'm not even trading this right now, the big banks love this kind of herd mentality, mooo!

Got Milk?

I think Daily charts are overbought and we should see some bounce from beneath highs.

What I am watching on the EURJPY ...

http://www.forexfactory.com/forexfor...d.php?p=142655

There is only one right trading decision on EURJPY at this time, and that's to stay out of the market. Seriously guys, trading EURJPY is too risky and unpredictable for the time being.