Daily EUR/JPY analysis

damnn the EUR/JPY is falling...and I am long on this pairrrr

Think of exiting and put back a long pending order slightly above where you exited. Have you other alternatives?

Im considering just sticking it through...I was long at 165.90...do u think its worth it?

if the pair closes below 165.70. than we will see 165.30 tested again and if it brakes that level too, than a short term downtrend will be in the books... For those people who are at long, if you can WAIT. I am sure the pair will somehow make a new all time high. Just dont forget this pair can not sky rocket. It will some point retrace and than go up again.

and dont forget that the pair COULDNT test the all time highs today.... was 10 pips short.

I put a pending sell order at 165.04 (6 pips below 38,2% ret of 163.51 and 166.09) with a 55 pip trailing stop.

I am getting ready to reset DJIA slumped 146. As I see it the housewives will start buying again on dips soon enough and so will I. That's one of the reasons you got this slide. Personally I don't think there is to much enthusiasm behind this slide and will reload my longs just after JAP market open.

The pair is trying to breach 165.33... It seems like it wont be able to so it can be smart to go long from this level. if this level is broken 164.53 might be in the play.

lets see what happens. Up or down hmmm. I still think it wants uppies some more

pissing me of this pair...

I am short... But not so confident... although I should be.

http://www.actionforex.com/index.php...654&Itemid=271

Patients all good things come to those who wait. It will make a move soon enough. I am waiting to see what the DJIA closes at today might give it a nudge in up or down. Depending on whether it does better or worse then yesterday. Plus there is China who might drop there rate bomb today

If you get really bored when the JPY crosses are quite take a look at the EURCHF. Requires some attention but is always on the go.

...might take you up on that myself. my positions on the GBP/USD and the EUR/USD are sitting idle. do you know what? i actually just wish they would move - even in the 'wrong' direction!

yes rosso832 is correct. When you see a pin bar like that it is an indication that there is an up trend coming. Of course there was not much of an up trend on the second pin. The pin bars like anything in forex are not 100%. They are good indicators of direction of movement. The thread James 16 has good info on it. The big difference (in my opinion) is the location of resistance level in the pins. The first pin occured well below several resistance levels with two of them being broken, see yellow lines. The second pin is close to an area that has not been broken, and so far shows strong resistance.

http://www.forexfactory.com/showpost...8&postcount=34

Also Alpha159 or anybody else that is interested go to the above link for more pin bar information.

thank you so much for your explanation... I just read it now and will look more into learning about it... Though the uptrend scares me cause I am short @ 165.50... So maybe the pin bar makes en exception this time

and also more importantly i can not enter the hyperlink you sent. it seems broken.. So would you mind checking it if something is misspelled or forgotten? thank you/

I will check the link. They are saying bearish Euro meaning down according to your post and other sources.

See if this link works
http://http://www.forexfactory.com/s...8&postcount=34

I just tested it it doesn't

well every broker and majority of the people in here says there will be a bearish move... Lots of people are expecting this, but a reverse can happen. the uptrend can accelerate starting in the asian session. which would probably move GBPUSD up as well, which is another pair that i am currently short on... Both of my orders are around -20 pips now...
I will have to be brave (stupid) to keep on the orders or just have a little faith in the hourly studies and the resistances.

I wont close my orders

nope still not working u have to https. i neglected one but still a broken link

This is like a classic example of a pennant forming in front of our very eye's. I still say going up. Long @ 165.40 x 3