For last 2 days we have this pair stuck between 128.10 and 126.00, trying to find direction, will see some momentum once we break any of these levels.
Yesterday my entry was not reached in US or early asian session, may be if I would have taken short at 127.94 it would have helped, but anyway. We will have similar trade today.
Short E/J between 128.15 to 128.45 s/l is 128.90
Target1 is 127.68 move s/l to BE
Target 2 is 127.32 move s/l to 128.01
I think price will reach around 128.35 to 128.45, that will be ideal for shorting and 128.04 will be 1st target.
I am in at 128.31 will short more at 128.42 if it reaches there
Sorry could not update yesterdays trade, but on 1st trade I was short at 128.31 and 128.42 and was out at 128.13. Price just missed 1st target of 128.04. Then took another shorts at 128.77 and closed part at 128.30. Some people asked me do I enter and exit at the exact ponts I mention here, well no u have to judge yourself and get in or around that value.
Short E/J around 127.52 s/l is 128.02
Target1 is 127.10 move s/l to BE
Target 2 is 126.80 move s/l to 127.10
This one is alternate trade:
Long EJ at 126.40 s/l at 125.95 Target 1 126.70
Target 2 127.10
Is the pair still good to enter short on? I was 127.200 short on it yesterday and I closed the position at 126.200. It seems like the pair continues to go by bearish momentum and according to actionforex.com, now that it broke past 126.000 the next strong support will only be at 122.000.
I am thinking of going short on it again right now. Any thoughts on this?
Yes this pair has got bearish now, since 126 level is broken, but wait for London session to enter shorts, as they tend to take this pair higher and late US and Asian session takes it down.
Will go Short around 126.10 and 126.55 today and will ride from there. Will update more later.
I would take short at 125,00 &put the stop loss above 125,90 (-90 pips).
The targets are 123,60 &122,00
I will wait for FOMC meeting today, they are expected to cut rates and take some measures to fix this economy :). As it was bank holiday in Japan yesterday we did not see any shorters on this pair. The European session has already pushed this pair way up. And if fed do cut the rates we will see a nice spike first and then this pair will go down, if they don’t this pair will definitely go down. I will short this pair on reversal for long term trade.
For news trader go long on rate cut news and get out on the spike. Else take a good short entry on reversal.
Happy Trading.
Skype ID pash78
Analysts say this week’s meeting is likely to signal no change in policy since the FOMC March meeting, when the FOMC added over one trillion dollars to its arsenal to fight the economic crisis…
Alright the FOMC kept the rate unchanged, but still we saw a good spike on this pair. I added shorts at various levels. Will ride this for long term, will update about S/l and targets later.
I am shorting this pair at this level 131.95, and will look how it open on Sunday, and wil modify my trade accordingly. If it opens lower will ride this down else will close it.
Today the outlook for the Eurozone economy is hurting the euro, which was gaining terrain against the yen, after the rebound in the stock markets.
A few minutes ago, the pair was trading at 131.45.
The nearest support is at 131.00 and the resistance is set at 132.00.
how were your trading sunday??
regards!!
Sorry for the late reply, Sunday market did not open lower, so closed my shorts. For last 2 days market is choppy trading between 131.30 to 132.80 so not trading much. I think market will move tomorrow after ADP NFP and Thursday after ECB press release.
It wasn�t able to stay over 134.00� It traded at 133.53, around the overbought area�
Now it is trading right now at 131.50, it just changed -0.76
PS: Don�t worry for replying late:) I asked you because you seem well informed, just wanted to know how you saw the pair moving.
Regards!
Not EUR/JPY, but carry trade related. I’m starting to get back into AUD/JPY long position. Main reason is the RBA stating they don’t expect to cut rates again.
I think this is the start of another uptrend in AUD/JPY carry trade. Will add to the position if we get to 78.40.
Hello Traders!
Here is my EUR/JPY analysis:
EUR/JPY WEEK
There are no changes over last week. A new extreme has emerged below point 5. For the time being we leave the layout as it is to evaluate MM-levels, but we cannot analyze the template until new extremes emerge and we define the trend’s direction. A downtrend from level 6/8 might have started.
EUR/JPY DAY
A downtrend. On the way to the target T1 there is level 4/8 which is significant on weekly charts. If the trend continues to go down, at least a deep retracement from this level is very likely. The price is beyond time frames, for the further analysis we need to reconstruct the template using new extremes.
EUR/JPY 240
We see an uptrend. All targets have almost merged into one. On the way to the targets there are no levels from senior time frames. The price is in the trading range, a flat is possible. Time frames are very small and most likely for the further analysis we will have to reconstruct the template using new extremes.