USD/JPY Levels

Discussion in 'Forex Trading' started by DannyBly1, Jun 16, 2008.

  1. Looking at the USD/JPY daily chart we can see a nice channel guiding price upwards:

    [​IMG]

    Price currently trading around the pivot, contained within S1 and R1:

    [​IMG]

    Ichimoku chart looks bullish -trading above the Kumo and following the bullish Tenkan/Kijun crossover:

    [​IMG]
     
  2. notice the crossovers... risk/reward...

    <a href="http://content.screencast.com/media/13da521d-136a-4c89-ab37-7af08a5fc585_e4e7210a-d70e-4e9a-b1ea-ac06782ba068_static_0_0_06162008-123440.jpg"><img src="http://content.screencast.com/media/13da521d-136a-4c89-ab37-7af08a5fc585_e4e7210a-d70e-4e9a-b1ea-ac06782ba068_static_0_0_06162008-123440.jpg" width="1919" height="1089" border="0" /></a>
     
  3. Midterm bullish, yes. But I expect a fall to 107 this week. Current is 108.10.

    PS. Guys, are u apt @ cuttin photos u unsert?! Too big for my screen.
     
  4. support around 102.10
     
  5. cstfx

    cstfx

    Took a short here at 107.40 looking to break 107 for a pullback possibly to 106.7 intraday
     
  6. LoL @ Carry Trade determining fate of US Economy or Vice-Versa.
     
  7. To the OP:

    Though your charting was sound, I'm sure, your analysis was incorrect. You always have to weigh fundamentals against any technical analysis.