EUR/JPY Anytime!

You got the drop spot on. Now let's see if you are correct about up move.

.. if it bounces off 118.500 today!

No more activity ? huh ..
Please analyse the pair .. I am waiting

Hello FF
My first post

Out +80

Think we have seen a top in EURJPY. This neckline has since been broken (on a dally close chart) confirming .

See my blog at marktcharts.com

"Is this a head and shoulders top forming in EUR/JPY? Possibly a downward sloping head and shoulders top is forming in Eur/Jpy . Of course this won’t be confirmed until the neckline is broken at around 144.40 (on a daily barchart) at the moment. The downside measuring implication on a decisive break are for a fall of about 4.50… "

MURDER...

short target: 136.900

Hello to all

I have simplified my trading with great results.

I take a weekly chart, and place the main numbers on. 100, 105, 110, 115, etc i.e 500 pip range
I take a daily chart and divide it into 4, so 125 pip range
And that's it

I then trade the weekly breakout from the one line to the next.

When the breakout occurs, I know there are nearly 100 pips up for grabs, as the range is 125 wide.

By following EurJpy with EurUsd, and GbpJpy with GbpUsd, a 200 pip a week is normal. The moves are always setup at London open. Frankfurt wiill either push the currency such that London cannot experience a breakout or continuation, or London can.

London Experience is what I wait for. I ahve posted last weeks image. And then please go do the lines on your chart. You will notice that not once, was there a London Experience setup.

I know this is a EurJpy thread. But I would like to post the London Experience setups for the 4 main currencies I mentioned.
EurJpy (No setup last week)
EurUsd (last week there were 3 setups for EurUsd, Wed down, Thur and Fri up)
GbpUsd (Tues was down)
GbpJpy (Mon was up and Fri was down)

EURJPY has now turned vulnerable to retest April 2015 lows near 126.00 mark, before heading lower towards June and April 2013 lows support near 125.00 mark.
Any attempts of recovery to confront immediate resistance near 128.50, which should act as SL for fresh shorts initiated at current levels.

2 scenarios
i prefer downside

Up to1.5608

Now can sell at 131.58

can now sell at 78

SOLD AT 131.88

So the first chart shows that Sunday pivot is at 131.00. Possible retrace this morning back up to it, even as high as 131.25 before going down to weekly pivot at 130.42 and monthly pivot at 129.93

The second chart shows the monthly table, (weekly chart next to it) . April 2013 was the last time we touched 125.00

April every year goes for the big numbers 100, 125, 150 etc. I think the first quarter of the year does a reset towards the major, then April does the move for the next 6 months.

Looking at monthly chart, I saw that April macd histogram does a new high or low. So looking at this months histogram it's trending up, and the weekly is above the zero line.

So, if April histogram is going to reset down, then March histogram must be up. This means that February must be down.
If April is going to reset down, then it will be towards the 125 barrier. which means March must be up away from the barrier, and February towards the barrier

So simply histograms from this month on wards on monthly chart must read down, up, down.

Morning

GBPJPY: At London open will look to sell. If opens above these levels, will sell at break down of these levels.
165.38 or 164.95
Target 158.00

EURJPY: London open selling at 127.55 target 125.14

GBPUSD: At London open will place sell on GBPUSD at 4395 target 3942

Ok,I'm closing 1 lot of each of the 3 trades entered.

Closing GBPJPY (in short at 165.38) now at 162.77 +261
Closing EURJPY (in short at 127.55) now at 126.82 +73
Closing GBPUSD (in short at 4395 ) now at 4297+98

Placing stop at open price.

End of this hr will buy GBPUSD at 4296 target 4223

End of this hour will buy GBPJPY at 162.93 target 163.52

Closiwd GBPJPY (in long at 162.93) at 163.52 +59

Cable has not reached that target yet. So will wait for London to reach it. And, just for good measure, in the effect that this will be a reversal day back to say 165.00 for GBPJPY, (thinking this because cable did not retrace yest afternoon and EURUSD set to go flying today), I shall

At London open, set buy on GBPJPY at 163.54 first target 164.85
At London open set buy on GBPUSD at 4320 first target at 4359
At London open buy USDZAR at the open orice first target 17.300
At London open buy EURUSD at market open price first target 1.1400
At London open set buy on EURJPY at 127.19 first target 130.14
At London open buy Gold at 1211 first target 1285

Now closing remaining lot on EURJPY

Closing EURJPY (in short at 127.55) now at 126.86 +69