Daily EUR/JPY analysis

Looking at my two previous charts I think that as long as we stay below the 4hr triangle/wedge we will see another test below... that being said, I could also see another thrust up to say... 118.40/60...

Open up an naked 1hr chart and plot a few S and R levels and take a look... we are currently butting up against the 1hr triangle, but it's anyones guess if this will hold and re-explore the lower trend line...

thanks for the tip.. which is a better placed stop so that i can be stopped out when the breakout occurs?

yup, I agree that it's anybody's guess atm on where this is headed to. Thought that the fomc minutes would be moving this pair. I thought wrong.
More waiting I guess

here's a new look at the old charts... I have added another falling trend line from the daily chart so you can see what upside targets might be if the wedge/triangle thingy goes... that said, I still favor shorts, but you never know what or when the jpy govt will put their might into the currency... I'm just sayin'...

Welp, if you ask me, I'd ask you to close your trade until we do get a breakout. And re enter the trade after. Might not be the thing you want to hear but I'm not in this trade because there isn't a clear direction yet. So I wouldn't tell you otherwise. Entirely your call my friend. Sorry for not being much help.

imho it looks like it would trend downwards..

I'd be happy to jump on the short bus when the opportunity presents itself. But for your sake, I do hope you're right. Good luck mate.

thanks buddy, i need it.. it was a trade that i should have stopped out a long time ago but i got greedy.

JGBS:Jap Gov Bonds are modestly lower after the BOJ annoucnement with traders saying there is a little disappointment that the BOJ buying has not been expanded - although there was not great expectation of such. The 10Y yield was last at 1.255% - 0.5 bps higher in the wake of the BOJ

Rate dips as BOJ announces decision to keep rates on hold details of corp bond purchases pair slips to Y93.43 fresh low for the day so far move appears to have run into bids under Y93.50/60 region now at Y93.51 offers ahead at Y94.00 dealers say.

The evening star formation on the 4hrly looks promising for that plunge jchng4.
Good luck mate

Thanks mate, stilll keeping fingers crossed hopefully things turn out as planned by friday

20 min chart showing trend reversal

Tech tools used -- Guppy Multiple Moving Averages (GMMA)

What happens is still anyones guess, it may rebound and also rise further..

...my mistake..wrong thread...

+30 pips on break out..

I am [email protected]...

Close at @119.85..a nice one

Hi all

Reversed and went long at 118.10, and still holding on to a +200 pip profit.

Hi all,

Bought at 118.10, went out at 120.15. Oh yeaaa

wormboy where is your post, I hope you didnt missed the trade you have been waiting this days..

Happy trading!

scorpion : LOL, I completely forgot to post here, I was tied up with cable. Got my ass handed to me with that pair. Short @ 4247 yesterday & it's up the wrong way by almost 200 pips now. Haha.
Anyway, forget that. I long euro yen @ 117.60 & took my profit @ 120.00 as it is currently bouncing off my sma on my 4hr. That & my cci is currently severely overbought. It'll prolly go higherif it breaks the sma, but I'll take what's on the table first to breakeven between the trades. Wouldn't want to end the week with a -ve if you know what I mean.
Good luck you guys

Anyway, here's my chart