EUR/JPY Anytime!

EJ has gone up 30 pips since close. I don't see any other pairs doing this. Anyone know why this would be?

UJ bounced.

How can it go up after the market closed. Will it come down again when the market re-opens?

It depends on the broker. For instance IBFX closes at 4PM NY time but MB Trading closes at 5PM. Market does open over the weekend but with a really huge spread. Last Sunday at 5PM NY time, GBP/JPY spread on MB Trading was 50 pips. Usually only 3.5 to 4 on this pair. This is why a lot of traders close their trades at the end of the weeks. They don't want their stoploss to get hit due to the widening of the spread. Usually the gap would be filled after the market open on Sunday but not always.

It went back down about 17 pips in the last five minutes before I had to close out and my spread would have nocked me out. Whew

EJ didn't drop nearly as much as i thought it might friday and that bounce with the weekly close has me looking for long opportunities possibly. Will watch what it does over the weekend and see what it does in Asia before deciding.

Sentiment:- Bearish
Reason:-

1. Fundamental – In terms of current economy strength, I believe JPY is slightly better EUR.
2. Technical – The major trend is down, but having pullback. On H4, there is good potential signal where indicates bearish movement will resume.

To do:-

1. Swing trading – I will monitor the movement of GBPJPY on H4 and H1. If C/S and candlestick can cross the kumo downward, I think GBPJPY will resume its bearish journey. Then I will be looking good entry signal on H1.
2. Intraday trading – No intraday trading due to pullback.

http://myinvest888.files.wordpress.c...ng?w=484&h=246

The EJ bounce took it back up to 75 so on the way back up May not expect much resistance at 65.

It looks like we are sliding down the downtrend line on 4 hour. But if we are playing the valid H&S, we aren't yet at target. 1 hour is showing a tentative broadening wedge. No direction yet for me, although the prevailing trend is down.

after eur/usd and gbp/usd lost much ground the last days, i was surprised that eur/yen is not around 120... right now, theres a 4time support at 122.20. price moved a bit higher from there, but with the uncertainty and the settling it would be too early to enter long for a longer period.

AM STILL HOLDING SHORT FRM 123.27 TARGETTING 119.70...should 121.40 be broken 1st.

aha!hope candle would close under 121.40

a little gain with a long from 121.76 to 121.96.... missed the short-action

Think we might see a pretty strong push up this week, what do you all see?
But starting to go a little south at the moment.

I took Buy on EURJPY worth to risk

Good chanel and good retrace on daily chart.I am going for 120 pips on first position and 220 on second...We will see



Cheers

THis is the chart >

I go long at 120.15

Sentiment:- Bearish
Reason:-

1. Fundamental – In terms of current economy strength, I believe JPY is slightly better EUR.
2. Technical – EURJPY is having minor pullback.

To do:-

1. Ichimoku trend trading – I will monitor the movement of EURJPY on H1 to add short position
2. Pivot point trading – I will monitor H1 for entry

http://myinvest888.files.wordpress.c...ng?w=484&h=247

Right on myinvest888, good analysis there and I'm on the same page with you. Well done. Hope the fundamentals are on our side. Good day

well, e/y is again on the short side but unfortunately with not good entry signal for me

I have my buy stop put in as seen on the cahrt. Nice H&S formation.

Thx,
snu