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JPY Cross Pairs

  • #621
  • Apr 19, 2013 2:43pm Apr 19, 2013 2:43pm
USD/JPY

Monthly and Weekly Areas of Resistance

Next area of resistance is at 100.70 - 101.70 from a weekly and monthly perspective. However, price hasn't stopped at any other areas of resistance during the past 6 months or so. Refer to the monthly and weekly charts as I've drawn out some areas of support / resistance.

If we close above 101.70ish on a weekly basis then I see 110 as the next stop for USD/JPY.

1st Target: 100.70 - 101.70
2nd Target: 110.00

Obviously there will be buying and selling on the way to 110.00 depending on a persons trading style, but overall trend is definitely UP.

One thing we need to keep in mind is that even though areas of support / resistance exist, price action at those levels is the actual guide and tells us whether or not to Buy or Sell at those levels. I personally like to wait for D1 MACD to point me in the right direction and use H1 Williams % to enter new positions.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPY_Monthly_(4-19).png Size: 73 KB
Click to Enlarge Name: USDJPY_Weekly_(4-19).png Size: 116 KB
  • #622
  • Apr 19, 2013 2:54pm Apr 19, 2013 2:54pm
hi 100pip: thanks for sharing your long term view and your method of analysis. I am trying to develop mine also on a daily-weekly perspective. My method is purely price action to define momentumīdirection. My momentum analysis is telling me that it is up. So I am only buying this market till momentum loose steam and trend change direction. Have a nice weekend.
  • #623
  • Apr 19, 2013 3:11pm Apr 19, 2013 3:11pm
Quoting rehab
hi 100pip: thanks for sharing your long term view and your method of analysis. I am trying to develop mine also on a daily-weekly perspective. My method is purely price action to define momentumīdirection. My momentum analysis is telling me that it is up. So I am only buying this market till momentum loose steam and trend change direction. Have a nice weekend.
Hi Rehab,

No problem mate! I mainly look at the weekly charts in order to reference areas of support / resistance and also observe Price Action at those levels. However, I really only trade using D1 MACD and H1 Williams %. The strategy is simple and powerful but like with any system it has its flaws.

To be honest, this week wasn't the first time I've tried shorting USD/JPY and the cross pairs during the past 6 months and I've been burned a few times this year trying to "pick the top" on these pairs.

Best to go with the flow especially in such a strong up trend so I will be buying this market until momentum looses steam right along side you!
  • #624
  • Apr 19, 2013 3:15pm Apr 19, 2013 3:15pm
Quoting Fx3423454
Seems like the JPY crosses are correlated more with the Nikkei225 than with SPX500. If you look at the Nikkei225 charts they look like mirror images of most JPY crosses. Unlike the SPX500. Just my two cents. I won't start shorting until I see the Nikkei225 start breaking down. The attached chart is of the D1 Nikkei225, looks pretty familiar huh? {image}
Yep...
Attached Image (click to enlarge)
Click to Enlarge Name: jpn225daily.png Size: 65 KB
Trade at your own risk.
  • #625
  • Apr 21, 2013 3:31pm Apr 21, 2013 3:31pm
Hi 100pip: thanks for sharing the base of your strategy and sorry to feel that you lost on shortening, but as you know, that is the pain of forex-it is part of the deal. I attach my weekly chart analysis to show my S&R (blue lines) and SH/SL (orange and green). I also attach my 4H where I zoom in to see the momentum (bear-red and bull-blue momentum represented by lines crossing the swings). As I see it is not yet the moment to buy the GJ, I was in a hurry in buying, the bull have a slow momentum. I see the last bear candle (circled) picked up momentum confirming the weak bulls. I expect thus a consolidation. This is my way of analysis and how i trade the daily chart. The problem with this method is that I donīt see when the pair is entering consolidation-this is when I loose heavily. Any suggestion is welcomed. Cheers and good luck everyone next week.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: GJ-week.png Size: 96 KB
Click to Enlarge Name: GJ-4H.png Size: 69 KB
  • #626
  • Apr 22, 2013 3:00am Apr 22, 2013 3:00am
i see today strong sell aud and eur, nzd. buy JPY and usd
  • #627
  • Apr 22, 2013 3:18am Apr 22, 2013 3:18am
Quoting Foxikus
i see today strong sell aud and eur, nzd. buy JPY and usd

Nooooo, not time, early for Risk Aversion.
Trade according to current market condition, not what you think would be.
  • #628
  • Apr 22, 2013 3:35am Apr 22, 2013 3:35am
Quoting J.Clinton
{quote} Nooooo, not time, early for Risk Aversion.
i wrote only what i see on my monitors maybe fake from London, maybe not

+ sell gold from 1423 and silver 23,45
  • #629
  • Apr 22, 2013 4:18am Apr 22, 2013 4:18am
Quoting Foxikus
{quote} i wrote only what i see on my monitors maybe fake from London, maybe not + sell gold from 1423 and silver 23,45
I don't use a microscope My screens are BIIIIG.

Add some 25 points to your Gold and short.
Bull just begun on 1 hour, RIDE. Not before 24.25 to short Silver. Will not before 24.6
Trade according to current market condition, not what you think would be.
  • #630
  • Apr 22, 2013 4:29am Apr 22, 2013 4:29am
got bitten once or twice myself too bro!!



Quoting 100PipsADay
{quote} Hi Rehab, No problem mate! I mainly look at the weekly charts in order to reference areas of support / resistance and also observe Price Action at those levels. However, I really only trade using D1 MACD and H1 Williams %. The strategy is simple and powerful but like with any system it has its flaws. To be honest, this week wasn't the first time I've tried shorting USD/JPY and the cross pairs during the past 6 months and I've been burned a few times this year trying to "pick the top" on these pairs. Best to go with the flow especially...
"Millionaires don't use astrology, billionaires do"
  • #631
  • Apr 22, 2013 4:47am Apr 22, 2013 4:47am
Quoting forex_growth
got bitten once or twice myself too bro!! {quote}
Only two times! I donīt remember how many i was bitten
  • #632
  • Apr 22, 2013 5:00am Apr 22, 2013 5:00am
Hi, Im new to forexfactory and currently trading Eur/Jpy exlusively.. looking forward to learn from this thread..
  • #633
  • Apr 22, 2013 5:05am Apr 22, 2013 5:05am
Sorry if it might bother some as my question is out of the context of the thread but I donīt know where to place it. I am going to by a new computer. Can I buy a laptop or I must buy a desktop more powerful than 3 Ghz? I read that a core i3 at 2.5 gHz should be ok. Any opinion? I am runing TSII and soon will start with MT4/MT5. I bought a mini laptop last year thinking that it fulfills the minimum requirement to find out that it is slow and now I need to go again and buy another computer. Thanks a my apology once more..
  • #634
  • Apr 22, 2013 6:31am Apr 22, 2013 6:31am
Quoting rehab
Sorry if it might bother some as my question is out of the context of the thread but I donīt know where to place it. I am going to by a new computer. Can I buy a laptop or I must buy a desktop more powerful than 3 Ghz? I read that a core i3 at 2.5 gHz should be ok. Any opinion? I am runing TSII and soon will start with MT4/MT5. I bought a mini laptop last year thinking that it fulfills the minimum requirement to find out that it is slow and now I need to go again and buy another computer. Thanks a my apology once more..
Hi rehab. I have a laptop I bought almost two years ago and works just fine for trading with MT4 over a WiFi connection. My old desktop isn't half this system and also works fine. I trade with it to this day. Hope it helps. Oh, I paid about $900 for this laptop back then. I'm sure now you could get much the same for half that.

Laptop specs running Windows Home Premium.
Attached Image
Ghost Rider - WWTBMD?
  • #635
  • Apr 22, 2013 7:28am Apr 22, 2013 7:28am
Quoting albchr
{quote} Hi rehab. I have a laptop I bought almost two years ago and works just fine for trading with MT4 over a WiFi connection. My old desktop isn't half this system and also works fine. I trade with it to this day. Hope it helps. Oh, I paid about $900 for this laptop back then. I'm sure now you could get much the same for half that. Laptop specs running Windows Home Premium. {image}

Thanks for taking the time to answer me. Yes, it helped. I will then go for a laptop (2,5 Ghz with 4RAM) because I prefer the mobility. you are right about the price, it is around 500$. Cheers
  • #636
  • Apr 22, 2013 7:35am Apr 22, 2013 7:35am
Quoting rehab
{quote} Thanks for taking the time to answer me. Yes, it helped. I will then go for a laptop (2,5 Ghz with 4RAM) because I prefer the mobility. you are right about the price, it is around 500$. Cheers
Glad it helped. I prefer AMD CPU's over Intel. Although both may run at the same speed and in the end, do the same work, The AMD is more efficient (2/3 the circuit paths for the same speed), runs a bit cooler and you don't pay for the Intel name. Either is good though and final price and included options should be the guide.

Best wishes
Ghost Rider - WWTBMD?
  • #637
  • Apr 22, 2013 7:46am Apr 22, 2013 7:46am
Quoting rehab
Sorry if it might bother some as my question is out of the context of the thread but I donīt know where to place it. I am going to by a new computer. Can I buy a laptop or I must buy a desktop more powerful than 3 Ghz? I read that a core i3 at 2.5 gHz should be ok. Any opinion? I am running TSII and soon will start with MT4/MT5. I bought a mini laptop last year thinking that it fulfills the minimum requirement to find out that it is slow and now I need to go again and buy another computer. Thanks a my apology once more..
As I know, it does not need too much computer requirements to run mt4/mt5 and TS2.
Well under 'albchr' computer WEI, you can run all the above unless you are using other programs that might require a higher base score but the problem exists not in that specifically, instead it is in the subscore of each hardware.
For example, you may have a High Score CPU but a Low Score Ram, your WEI will decrease if difference is wide.
That hardware component must have a good score compared to the programs you use.
Don't have a problem because currently using 2 laptops of I5 and I7, that are more than enough to run any program, when am at home or in office mainly use desktops attached to wide screens.

If you don't have a NEW laptop nor desktop, better now buy a laptop than a desktop, screen, UPS..etc, because it's much easier to use esp. if gonna use a wireless internet(big advantage, runs wherever you are).
If you like a larger nice view, and have a 50"(or whatever) Led or 3D TVs, you can reach there with any small 13", 14", 15" screen laptop. How???

Simple: Attach an HDMI wire from laptop to TV. ENJOY
Trade according to current market condition, not what you think would be.
  • #638
  • Apr 22, 2013 8:12am Apr 22, 2013 8:12am
JPY stronger than morgen, i think we see nice move down on all JPY pairs 100-200-300
but i have only AUD/JPY, CHF/JPY, EUR/JPY
  • #639
  • Apr 22, 2013 8:37am Apr 22, 2013 8:37am
Dear Albchr and Clinton: thanks brothers for your help brothers. I have no idea about computers and I really appreciate your opinions. i will go with them to Media Market and buy accordingly (yes, i have no computer at home except the mini Asus Eee..nice tiny but too slow). Have a nice day and good luck with your trading today-it is such a boring session-Mondays!
  • #640
  • Apr 22, 2013 8:43am Apr 22, 2013 8:43am
Quoting rehab
Dear Albchr and Clinton: thanks brothers for your help brothers. I have no idea about computers and I really appreciate your opinions. i will go with them to Media Market and buy accordingly (yes, i have no computer at home except the mini Asus Eee..nice tiny but too slow). Have a nice day and good luck with your trading today-it is such a boring session-Mondays!
J.Clinton is 100% right in that you don't need a super computer to run most trading apps. I do a lot more with mine at the same time so it helps me.

But one more note. Your internet speed is actually a bigger factor in trading. If you have a slow internet connection, the fastest computer on Earth won't help. Just thought I'd mention that before you spend any money. Good luck!
Ghost Rider - WWTBMD?
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