[quote=“Jason_Rogers,post:100,topic:26228”]
Well yes its consolidating the last couple a days, shown better on smaller time frames. The tweezer bottom its now showing at the past resistance level strengthen my bullish bias. I will be looking for long entries in the week ahead.
Long @ 77.85.
In hindsight, I know why I fought so hard to get this position.
Luckily, it’s almost washed my stupidity away, P/L wise.
I’m just hoping the risk appetite continues for my 401K’s sake 
hahah, same here!
Are you still in the long position? I’m looking at CAD/JPY long, but i’ve been surprisingly good at picking tops recently 
Am I good or what!! CAD/JPY down 50+ pips since previous post.
I entered Long after the tweezer bottoms formation on the 1H time frame. However I was a bit skeptic about the trade(I should stay out) seen that theres a counter down trend line above which 40% of the time acts as resistance, so I exit early below the counter TL for just 60 pips. I should stay with the long seen that daily is saying Long with those nice tweezer bottoms. I’m now looking for a break and test of the counter down TL.
Opened a short eur/jpy position earlier this morning due to head and shoulders pattern in the Dow on a 1 hour chart. Up about 30 pips at this point, so will move to break even, but the fact that stocks have moved from positive back to neutral is promising for the trade.
Here’s the Dow chart.
Won’t be posting or watching the markets until next Tuesday, so good luck with the trades until then. 
Yup! Still holding on!
Back to the markets, from the hiatus. Held onto EUR/JPY from last thursday. I’m thinking a break of 132 could mean a drop to 130. Interesting article on the “september effect” for stocks that could have an impact on JPY pairs for this month September Effect Could Push S&P 500 Lower, Japanese Yen Higher
Looking for the EUR/JPY to test the trend line at 131, will move stop loss to 132
Here’s a daily chart
Head and shoulders from last week’s Dow chart panned out. Looks like next step for the Dow could be 9125 and EUR/JPY has broken through the 62% retracement level if you look at a 4 hour chart . A full retracement would target 128.
The less than stellar ISM data is helping keep a lid on the EUR/JPY. It could retrace up to about 133.40 and still within the downtrend.
GBP/JPY back on my radar. Long @ 152.80 with a target of 155.
I was short the beginning of the week on AUDJPY… just reversed my position on what looks like some broad market optimism.
78.90 E
77.80 S
70.99 T
I agree with that reversal. We now have a reversal crown on the daily which is a strong bullish reversal formation. Also counter down trend line has been broken and gave entry on 1H. I’m looking for it run to the fib. extension 127/81.00.
Considering my recent performance in the JPY crosses, I’m not touching the JPY pairs just yet :D. Do less of what’s not working, right?
The failure of GBP/JPY to rally with equities is disturbing. Maybe the reality of a struggling UK economy is setting in since the GBP pair in general hasn’t rallied that hard along with the other pairs vs. the dollar.
I still like AUD for the fundamentals but would rather trade it against the USD myself.
I understand what you are saying. I was also anticipating a rally on the gbpjpy but its now trading below an up trend line while the eurjpy, nzdjpy and audjpy has shown bullish potential. Guess its as you said, UK struggling economy. I pay little/no attention to fundamentals so I’ll continue take what the charts gives.
I was with you on the schizo Guppy action this week too.
It’s all my fault… the market knew I was long 
Key level for the AUD/JPY longs
AUD/JPY really holding it’s own despite the drop in equities today. But such a small range since last week between 79 and 80.
