My USD/JPY analysis

Discussion in 'Technical Analysis' started by TraderDTS, Feb 9, 2010.

  1. Last week I have made +376 pips with my method.

    My USD/JPY analysis:

    5.1 USD/JPY WEEK.
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    This is a downtrend. The situation has not changed since last week. If the price hits down level 2/8, it is very likely to reach level 0/8, because on the way to this level the price has only weak local reversal level 1/8.

    5.2 USD/JPY DAY
    [​IMG]

    A downtrend. On the way to target T1 there is a strong reversal level 2/8, which is significant on weekly charts, that is why the price is very likely to reach level 2/8 and further retracement from this level is possible, when the price moves into lower trading range.

    5.3 USD/JPY 240
    [​IMG]

    This is a downtrend. The price is in the trading range, there is a strong reversal level 0/8, which is significant on senior time frames, on the way to the target. There is quite a large move range from p.4 to level 8/8, from which the trend’s reversal or a deep retracement are very likely.
     
  2. easier to play EURJPY imo.