Usd/jpy

My research indicates the time is right for a short trade. This is a positon analysis, not a day trade. I feel there will be a significant down move. There is not much support on the daily chart to stop the move down. We may see it hit 109-110 area.

 

What type of analysis are u using?

 

i research using daily, hourly and 15 min charts. Use MACD for direction, check the COT reports for the positions of everyone trading the market.

 

send me a privaet message or an e-mail. I will share a little more of my study ideas/materials.

 

I'll bet you get stoped out around 2:15 today-just a hunch

 

Did you open a short position? What price are you getting out at?

 

I know of a forex trader here who has a journal on this forum. He sold 1 USDJPY at 115.70, 116.00, and 116.30. So he is short 3 USDJPY at an average price of 116.00. He has been paying interest on this negative carryover trade. Look him up in the journal section. I am sure that he would love to collaborate with you.

 

The latest COT report for JPY contract.

 

There is a good RSI divergance on the daily chart which should work but I remember one trader told me... never try to catch the turning point of USDJPY.

 

H4 chart