Yen Update (USDJPY, EURJPY, GBPJPY & AUDJPY)

took this south for 50pips about.

I entered on the slight retracement. We'll see how it runs.

Stopped out on previous trade. Jockey for position.

all on downtrend today

I'm thinking that way too. That's the way I'm working it.

EJ could find support from a daily trendline at about 131.5 and also a 61.8 retracement at around 131.6 from the move up from 18 May.

Happy Monday everybody. Nice movements in the JPY pairs with everything dropping down to near my trendline. Haven't seen anything major in the news as a cause. Maybe possible drop in US stock futures? AUD/JPY attached.

Just what we need for the JPY bulls, an increase in the VIX to scare traders out of the carry trade. http://www.cnbc.com/id/31487739

Is that the sound of hoofbeats in the distance?????? Gonna be interesting for sure. Good hunting to all.

damn, yens on a nasty downtrend this asian session.

The onslaught continues!!! But look at the bounce off the lows. EUR/JPY rallying with a vengance over the past 6 hours. Looks like the trend line is not going to be broken so easily.

Hi
am reading with interest your thread TONI, have two Q!

1) why are you asking about the market is going up or down, you said one have to follow the 1h bar close rule 5 pips enter and take 10-20 pips close out.

2) How about MM?

thanks and I looks good so far
mea

their are trader looking to make money with fx for 10 - 20 years and more ,
they teach us fundamentals.

Toni comes around and starts to tell us the most simple method on the planet.

Does it work, i don't think so, if it would
toni would be trading like crazy not telling us to do what he is struggling to do

imho

don't waste your time with it.


Common sense

Fundamentals are reflected in price action. A picture is worth a thousand words. If you buy support and sell resistance you won't be too far off base.
If a level doesn't hold then your stop loss should be your parachute to jump off the trade. It doesn't make you wrong if the level does not hold. What will make you wrong is if you didn't set a stop loss.
There are plenty of 5 star threads in FF to learn the craft of trading and S-R risk points.

Wish you the best in your quest for pips.

Hopefully everyone had their shorts on and made some coin!

JPY opened a big ol' can of samurai whupass on everybody!

This is the power of weekly

Anyone making any money out there, been pretty quiet for the moves that have transpired over the past few days? Made quite a few pips on the run up, a nice steady "smooth" upmove, fairly easy to follow those for some nice pip counts.

Yens in a shaky situation since past 3 days on the daily charts. I hope it makes a move again to get a clear direction if its still uptrend or time for a retrace.

I guess it may be slow due to the NFP.

Guys, ive done lot of research this weekend & it looks like we are in a strong uptrend and i believe the yen's are going to make new highs in the coming weeks. The weekly charts look completely bullish.

Im waiting on the market to open and simply go long on as many yen pairs as i can!