EUR/JPY

500th post and my 901st.


best regards.

I'll be short e/j at 122 for at least short term trade based on h1 and selling any rally until I see a reason to stop.

H4 is short for the short term also, but has already made its move and already at support... so needs to break down further to continue taking shorts. clsoe below 121 would seal the deal to see more downside imho.

E/u is supporting the same of what I see on e/j.

These observations are based on ichi.

Bear breakout closed below the lower band on BB 14-2.

Congrats! Great thread. I read a good bit of it. At some point, perhaps i'll post here.

In good Sonic fashion, I see Higher highs and Higher lows. If this turns back up and takes out the H & S neckline, in the vacinity of the 62% fib extension level, then my guess is that it will be on its way to the target.......

And a longer range look on the 30 chart.....

But, of course the best laid plans of mice and men can go haywire. So we just have to wait and see what this session brings......

Indeed, if Nikkei goes negative, ECB cut rates it will be downnnnn, that's IMHO.

Then again I more biased to go long.

The trend is still down but I'm looking for it to bounce up off the rising trendline. I'll go long on a blue candle above the 34 ema on the 5 min chart.

A 4 hour perspective. Above the trendline and daily pivot.

Once a trendline is broken it´s not reliable anymore.

I don't think so. Quite often it will be tested from the other side as horizontal sup and res are.

If it gets back up there, what do you think of short at 120.14?

Looks good to me.IF it gets there. I'm overall bearish. A lot of downward pressure on daily.

I'm bearish as well. Looking for a good point for it to turn around and catch another ride down. 118.50 might be a more realistic point to short.

Another aspect of the 4 hour chart is that this ranging is bringing the BBs together for an eventual pinch and breakout.....which could be either way. But seeing this, the longer term trader will be sitting back waiting to see which way it breaks.

I see some nice charts up here, thanks all! Does anyone have an opinion on how the ECB rate decision might play out? Are cuts priced in already, because if not fully priced in might that not be a good catalyst for the downside? I really don't see a good upside catalyst right now, so I'm bearish, but I'm still a newb. I sure could use a several hundred pip slide right about now, but who couldn't? Anyways, just thought I'd put that out there and see if anyone had any thoughts about it.

It could be considered an internal trendline which is typically drawn through price action to help locate areas of support and resistance. As with anything they are subjective but can be useful if that sort of thing works for you.

hello EJ traders,,,where hv u been ? looking for update today but seems no one turn up...

Well, seems like the market is heading upward, and is trying to make people understand that fundamentals are going to beat technicals yet again, as they did when the recession started...