Trading the JPY crosses using S and R

Hi All,
I am Karthik from India. Been around FF and other forums for quite sometime. I have been trading forex for a few years now and it has been a year that i started to concentrate only on the JPY crosses. Right now, i trade all the JPY crosses by which i mean the GBPJPY, USDJPY,EURJPY,CADJPY,AUDJPY and NZDJPY and also GBPCHF and GBPUSD.

Initially, i was a bit apprehensive about starting another thread on the crosses with so many threads already out there and running great. But i had been posting articles on FF and many people wrote to me asking me to start a thread. Another problem is that i am quite busy with my forex related activities already and i really dont know how much time i can allocate for this thread. But i really wanted my voice to be heard and hence this thread.

Please note that i will try and update this thread with my views and answer questions whenever i find time but it really may not be regular updates...so keep watching out for this thread. I will try and make this as useful to as many people as possible...

I look forward to all your support for this thread..

GJ just hit a nice resistance at 229.69 and fell down...good support just below 229...

EJ also has good support at 155.37...

hey karthik rahul here from dubai i am kinda new to forex so what do you think about usd/jpy where is it heading? it has already broken the R1 now what?

actually UJ broke thru resistance and now back at the same price which acts as the support now...but since this resistance was broken just a few mins ago, it aint a very strong support right now...so we need to wait and see what it does...

well there u have ur answer....it was not a break of resistance after all....

What Sort Of Trader Are You Long Term Or Short Term And What Time Frame Charts Do You Use?

it all depends on the DOW...the crosses closely follow it...like any other stock exchange in the world, there would be a big movement initially, either up or down....then there would be a smaller movement opposite to the initial movement...then the market would settle down and then slowly show its hand...

thats what happened....u need to see the dow futures before the open to see which direction the initial move would be....today, the dow futures was more than +70...so the initial movement was a huge up...then there was a slight down shift...and now the market would slowly settle down and reveal its direction....

i am a day trader as well as do swing trades which last for 2-3 days as well...

gbp chf also near good support...GU trying to break resistance at 1.9885...

cadjpy near its support at 108.60....audjpy in the middle between S and R..

gbpchf support at 2.4044

So You Mean To Say If The Dow Is Up So The Jpy Should Go Down?
And What Indicators Do You Use For Technical Analysis?

if the dow is up, the JPY would go down and the jpy crosses would go up...i use fibs, murray maths and linear regression for my trading....so great trading system as such...just plain and pure price action, market feel, S and R..

GU has broken thru resistance at 1.9885....those who dont like risk can wait for break of 1.9900 to enter...

AND WHAT TIME FRAME CHARTS DO YOU USE?

as said above, the EJ has had a nice 15 pip run from its support at 155.37...

i usually use the 1H timeframe charts...but sometimes i switch down to the 15M charts as well to find the intermediate S and R points...

so too has GU...supports are the places where the pair is going to rest before going up again...it is the place where the chances of going up are more than chances of going down...vice versa for resistance....

so as u can see, GU has shot up from its support at 1.9885...

suppirt for gj at 228.34....will have to see how it holds...

nice bounce from the support so far by gj...

hey mate my chart says the first support for gu is 1.9737?