USD/JPY recovers after dipping to 80.25 earlier today. Though, there is no change in the outlook. The price actions from 79.69 is merely consolidation to fall from 82.22 only and has likely completed with three waves up to 81.26 already.
- #24,723
- Jul 1, 2011 1:56am Jul 1, 2011 1:56am
- Joined Apr 2011 | Status: That the best u can do, u pansies? | 6,087 Posts
Break of 80.00 will signal fall resumption and should send USD/JPY through 79.56/69 support zone towards 100% projection of 82.22 to 79.69 from 81.26 at 78.73. On the upside, break of 81.26 resistance is needed to invalidate this view or we'll stay cautiously bearish.
As a bit longer term breakout trader. My view is if the 80 is broken with momentum and closed under we retest the 76 and if the 82 is broken with momentum and closed over we will see 84
anyhow I envy all the traders who have been buying at 80 and selling at 80.85 the last month or so!!
- #24,724
- Jul 1, 2011 2:09am Jul 1, 2011 2:09am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #24,725
- Jul 1, 2011 2:21am Jul 1, 2011 2:21am
- Joined Apr 2011 | Status: That the best u can do, u pansies? | 6,087 Posts
- #24,726
- Jul 1, 2011 3:14pm Jul 1, 2011 3:14pm
- Joined Jun 2010 | Status: Trader | 3,896 Posts
you are all right, this pair is a mess and waste of time
up and down like a bride's nightie
Make your losses in demo. Earn your profits live.
- #24,728
- Jul 1, 2011 3:27pm Jul 1, 2011 3:27pm
- Joined Jun 2010 | Status: Trader | 3,896 Posts
sorry, i thought it's a common saying in english, meaning = restless, jumpy
not a native speaker here
You didn't offend me.Good pipping to you!
Make your losses in demo. Earn your profits live.
- #24,732
- Jul 4, 2011 6:15am Jul 4, 2011 6:15am
- Joined Jul 2007 | Status: Short on USD/MXN, Long on legs | 16,578 Posts
Hi, is it based on fibo? Can you post pics?:-)
Best regards
He just posts what he sees on "Action Forex", I don't think he even understands what he's posting, but it "looks nice", like he's a very experienced trader.
He did the same on the USD/CAD thread, and possible for other pairs too.
Shamu
New voice message: Why are you calling me? If I need you, I'll call you!
- #24,733
- Jul 4, 2011 8:14am Jul 4, 2011 8:14am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Yeah. Julian Ass is posting nonsense. Perhaps he thinks it's funny.
Here is some analysis which has been thought through.
It may seem as though USD/JPY is just consolidating at first glance. It has been ranging, but with a purpose.
The triangle was broken on 27th June with a very bullish day. Resistance was found at 81.00. We then tested the upper trend line of the break out, a classic break out pattern.
We are now bouncing strongly above 80.60, which is now support, for another run at 81.00.
Here's a chart:
Here is some analysis which has been thought through.
It may seem as though USD/JPY is just consolidating at first glance. It has been ranging, but with a purpose.
The triangle was broken on 27th June with a very bullish day. Resistance was found at 81.00. We then tested the upper trend line of the break out, a classic break out pattern.
We are now bouncing strongly above 80.60, which is now support, for another run at 81.00.
Here's a chart:
Gone to a better place
- #24,734
- Jul 4, 2011 8:23am Jul 4, 2011 8:23am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Gone to a better place
- #24,736
- Jul 5, 2011 2:53pm Jul 5, 2011 2:53pm
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Gone to a better place
- #24,738
- Jul 6, 2011 2:57am Jul 6, 2011 2:57am
- Joined Mar 2007 | Status: Trader | 8,618 Posts
Gone to a better place
