Trading the Trend with Strong Weak Analysis

[Dennis3450]

Big reversal day for Yen pairs, led by AUD. We also had a up stock market with a weak Yen, is the world back to normal?

Classic double bottom “W” pattern in AUDJPY, all Yen pairs are showing a similar pattern but AUD is the strongest, with AUD at the #2 spot and knowing the Yen likes to move back and forth from strong to weak. Going long AUDJPY might be a good technical trade here, If US stocks rally and Yen falls all the way to 8 , AUDJPY could be a big winner. Any takers?

Note, AUDJPY is still in a downtrend, and is not a strong weak trade, at least not yet

[TravisN]

aRE you buying Dennis???

[Dennis3450]

Mild pullback today following yesterday’s big rally, pretty normal

US stocks down, US dollar up, that is normal too

[Dennis3450]

Big green day for US stocks, Currencies were mixed but AUDJPY is still looking like the play here

[Dennis3450]

Big double-bottom “W” formation in Gold could make this a big play in 2023

[Dennis3450]

Could the Yen be on its way to #8, it clearly weaken during the week, and its positive coloration with US stocks seems to have ended

[Dennis3450]

Weekly chart is even more impressive as we saw strong support at the 200 week average. The devaluing of the dollar and double digit US inflation should have gold well over 2000 a ounce. Gold has been a disappointment, maybe 2023 will be the kind of year for gold that 2022 was for oil

Time will tell

[Dennis3450]

What started out as a strong day for stocks saw gains turn to losses by day’s end, and Yen pairs retreated as stocks dropped.

[Dennis3450]

All ( but USD) gained on the Yen but lost much of those gains in afternoon trading, leaving the next move in doubt

This chart makes me wonder if USDJPY may give back all its 2022 gains in 2023

[waltoncharles]

Forex is more chaotic than stock market so we have to be very much careful while trading Forex.

[Dennis3450]

I have found FOREX to be less volatile than stocks in recent years. Buy and hold stocks for long-term wealth building. FOREX works well for technical and trend trading

Good Luck

[Dennis3450]

The Yen’s time at number one may be ending soon, Stocks continue to rally

[Dennis3450]

AUDJPY continues to find resistance at the 200 ma on the 4hr chart,

[Dennis3450]

A mostly green day as stocks and Yen pairs push higher

[Dennis3450]

USDJPY short might be the current SW Top Trade, for my money I like going long AUDUSD, very similar to AUDJPY

[Dennis3450]

I will be traveling tomorrow, no more updates until the weekend

[TravisN]

I am already long audusd and short usdjpy and cadjpy!!

[Dennis3450]

Look what happens when I take a couple of days off from the market, all the Yen pairs take a dive.

SW told us on Monday to get short USDJPY and it sure was right, about 400pips right

[TravisN]

I do my sw analysis abit different than yours however, mine said the same thing and boy did i make some big profits. My watchlist includes long NZDUSD and NZDCAD also next week.

[TradingMagnet]

I’m shorting NZDCAD and I feel good about it. Matter of fact since Dec 19th, 2022.
I’m also short USDJPY for the last 3 weeks as well.