USD/JPY INputs & OUTlooks

[trademan]

I'm new to this Forum and was hoping to start a descent THREAD on Dollar versus Yen!!


Current Trends
Daily input
Personal opinions and forecasts
Weekly outlooks
Trade Plan suggestions
Analytics

You know ~ all that narly FOREX stuff!!

...anyway, if anyone's interested POST AWAY!!!

[trademan]

Hope everyone can see this chart OK - 4HR USD/JPY
I'll keep it short and sweet to start!

I could be way off here...

MY OPPINION:
1. Possible bump-up (key resistance is 91.00) at market open to the 38.2 FIB line. (91.75 area)

2. If FIB line 38.2 is not broken I'm expecting reversal, and return to, then through FIB line 50.0 (90.85 area) and continue to support line. (FIB line 68.1, 90.00 area, may act as a temporary support before breaking thru).

3. If support line is broken then I expect a continued drop to FIB line 100.0 and a continuation of current overall trend = DOWN

Just my opinions!!!

Questions, comments & smart remarks welcome!

[trademan]

5:30 pm

91.00 is holding so far at market open!!...

[trademan]

hmmmmmmmmmmmmmmmmmm!!!

[trademan]

For my own reasons, even this early in the market open, I did not expect this much resistance at 91.00.

If we do get through, I may be watching closely for an earlier profit take than I originally planned.

And at that point I will wait to enter short trade on the way back to overall trend = DOWN.

[trademan]

SO...

I did bail quite early! (+25 pips). Not my original plan, but pair did not shoot off the way I thought it would at market open. I feel there is still a strong possability for the pair to rally again close to 91.60 before dropping.

Not something I would ordinarily do, but this pair was a little to fussy a little to early for me! I really did expect this pair to jump higher, earlier.

...But hey, thats FX BABY!!

I guess I already spoke briefly of my next moves, so I will wait and see if anyone has anything to share!!

TraDe WeLL!!!

[trademan]

...I really hope I get points for talking to myself...

[trademan]

1HR Chart

SSSS LLLL OOOO WWWW LLLL YYYY... on its way.

again, just my opinion!



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