Daily EUR/JPY analysis

i think it's the best time to place buy on this time...because according to the previous movement,EJ won't trade long time around 148++....

well, she's sitting at the 61.8 fibo retracement of the last move down.
Also, there's some minor Divergence on the 4H.
Over the weekend, she's been trading down at 152, even into 151 areas.

Curious to see if she gaps down.

I put in a few shorts at 153 and 153.33 with tight stops mid day on Friday, so we'll see.
But, if she gaps down, it'll be nice.

If she stays below 153.66, I think we'll see bit of a drop, before another push up to 157.xx

Either way, up or down, I don't care.
I beat up the EJ last week to the tune of almost 400% !

Loving this pair. I have two open trades on the Beast, but almost trading the EJ exclusively now.

5M scalping and a 4H/Daily strats working well......

Hope all are having a good weekend.

kj

Looks like you got some lunch money heading your way.

I wouldn't get too comfy, but maybe a couple handles on a pullback would be
a healthy way to start the week. Gaps are getting more frequent lately.

Short term, the move down from 170 has been a monster and the last 600 points up
from 147.50 over the last session or two has been a bit hard to ignore.

The dates are intriguing too:

The bottom on 11-09-03 @ 124.15 corresponds to
a (? low ?) on 09-11-08 @ 147.52 || 50% ret. of the nov. 03 low to july 08 high

(600 pips below this "low" is the .618 of the above mentioned move @ 141.50)
So, another possibility is that EJ could be in the process of falling out of bed again.

Euroyen moved almost a thousand points last week. Week before that, another thousand.
We don't usually get this kind of action. I'm psyched about it. I know you are too.

I'm reading all the conflicting divergences on different TFs and one may say oversold
while another shorter read might say sell em' again. Either way, The longer term UP trend
is still intact until the 140's are broken with conviction. I don't want to get in the way
when the music finally stops.

So, scalping EJ is still a great way to roll with it and it saves having to hold thru the turns
with negative swap. Bank those pips and keep 'em coming !!

http://www.forex-markets.com/quotes.htm BASED ON THIS SITE

GAPPING DOWN

How many pips is the GAP?

OIL 99.5

151.83 at the moment..... SWEET !!!

How'd you like them apples ? Did ya take your couple of handles or are you gonna be greedy ?


EDIT: Actually, Kujo I don't mean to say how you or anyone should trade. Please don't take what I said wrong.
I was just such an obvious "gift" from the market when we were looking at this Saturday nite and the crosses
were already gapping before most of the world was even open to trade. You did good bro !

if the EJ ca break that upper 4hr trend line, it may be ready for a run to 157.

Who Took Eur/JPY short on Sonic Signal??

As for sonic slope..it is blue but the PA told me it was a bearish engulfing candle ...


Sonic

look that hanging man
you know what should to do?

i think it s bullish

Retracement.... Yes...
Bullish..... No

Well...this is what I think...see if it break 149.36 lvl...

Sonic

Hello All,


When will the gap be filled ? Any Idea ?

Thanks

Im in short atm. Target 141 for now.

Toshi,

No worries bud.
Didn't take anything the wrong way.
I trade her up and down..... not a long term trader.

I watch 4H for overall trend.
then scalp up or down depending on the 30m, on the 5M charts.

Haven't hit an SL in 4 weeks.
Just TPs !! ;-)

I think she's getting a bit bullish.
153.33 goes down on the 4H I'll keep buying her up to 157.

Ahhh wireless internet.. love it....
making money, while at my regular gig, making money.. ;-)

From forex-markets.com:

<<Throughout the course of last week we argued in favour of reducing USD holdings and, instead increasing exposure to the JPY. This was driven by a variety of factors. The first was a belief that after 38 trading days of almost uninterrupted USD gains, this uptrend was beginning to look decidedly strained. ....

Secondly, and more importantly, while we remained medium term USD bulls, short term event risk was growing rapidly. As a result, we recommended substituting long JPY holdings for long USD positions ahead of a weekend of high uncertainty. Our rationale for this was fairly straightforward. Although the Japanese economy might have little to truly recommend it, it at least had the advantage of far less immediate event risk and, importantly, had been a key funding currency for higher risk trades for many years. If risk aversion was on the rise then it should prove a natural beneficiary.>>

For the full story, click the link above.