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USD/JPY Emerging Signal

admin — Mon, 26 Sep 2011 21:37:32 +0000

The pair has slightly declined after approaching the key resistance level of 76.95, forcing Stochastic to offer a negative sign once more. Henceforth, we believe that staying aside will be the best technical choice until it breaches the aforesaid resistance to make sure that our suggested Elliott count is accurate enough to send the pair higher. A break of 75.80 with a four-hour closing below it will negate the reversal possibility and will trigger a panic sell-off.

The trading range for this week is among key support at 74.85 and key resistance now at 78.45.

The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.

Support: 76.10, 75.80, 75.60, 75.25, 74.85
Resistance: 76.65, 76.95, 77.20, 77.60, 77.90

Recommendation Based on the charts and explanations above our opinion is, staying aside until an actionable setup presents itself to pinpoint the upcoming big move.

USD/JPY Emerging Signal

admin — Thu, 22 Sep 2011 22:16:24 +0000

In line with our previous analysis, the pair inclined attacking 23.6% Fibonacci retracement of the entire downside rally from 80.20 to 75.90 at 75.95 as seen on the provided four-hour graph. It succeeded in closing positively above the resistance line of the falling wedge pattern, while we can see how a positive divergence is appearing on MACD traditional. Therefore, we hold onto our bullish prediction over intraday basis, supported by the above seen Elliott sequence. A break of 76.95 will confirm the bullish scenario; whilst breaching through 75.80 will negate it.

The trading range for today is among key support at 75.25 and key resistance now at 78.45.

The general trend over short term basis is to the upside targeting 87.45 as far as areas of 76.40 remain intact.

Support: 76.40, 76.20, 75.80, 75.60, 75.25
Resistance: 76.95, 77.20, 77.60, 77.90, 78.45

Recommendation Based on the charts and explanations above our opinion is, buying the pair above 76.95 targeting 78.80 and stop loss below 75.80 might be appropriate.

USD/JPY Emerging Signal

admin — Wed, 21 Sep 2011 23:37:03 +0000

The pair fluctuated violently during the past four hours after touching SMA 20 -colored in green- as seen on the provided four hour-hour chart. Inside yesterday’s suggested falling wedge pattern, we can see a new harmonic probability of forming a bullish harmonic AB=CD pattern. Therefore, we are still waiting for a reversal but not before breaching the resistance line of our caught falling wedge pattern. Only a breakout with a four hour closing below 75.80 will give us reasons for reconsidering our proposed Elliott count.

The trading range for today is among key support at 75.25 and key resistance now at 77.90.

The general trend over short term basis is to the upside targeting 87.45 as far as areas of 76.40 remain intact.

Support: 76.20, 75.80, 75.60, 75.25, 74.85
Resistance: 76.65, 76.95, 77.20, 77.60, 77.90

Recommendation Based on the charts and explanations above our opinion is, buying the pair above 76.75 targeting 78.80 and stop loss below 75.80 might be appropriate.

USD/JPY Emerging Signal

admin — Tue, 20 Sep 2011 01:59:55 +0000

The pair started to achieve stability above SMA 20 as seen on the provided four hour graph, attempting to hit the initial resistance of 76.95 zones. All we need is a sustained breakout above 77.20 to assist the pair to move higher once more to complete the suggested Elliott sequence. Moreover, we can see the potential head and shoulders bottom pattern which took a long time to be formed; thus, it may cause a price explosion to the upside and that will match the IM -impulsive- nature of “C” wave. Carefully note that the bullish classical pattern will be valid as far as areas of 75.90-75.80 remain intact.

The trading range for this week is among key support at 75.25 and key resistance now at 80.05.

The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.

Support: 76.40, 76.20, 75.80, 75.60, 75.25
Resistance: 77.20, 77.60, 77.90, 78.45, 79.10

Recommendation Based on the charts and explanations above our opinion is, buying the pair above 77.20 targeting 79.10 and stop loss below 75.80 might be appropriate.

USD/JPY Emerging Signal

admin — Wed, 14 Sep 2011 19:11:02 +0000

The pair is still consolidating around the pivotal support areas of 76.95 where 23.6% Fibonacci retracement level of the downside rally from 80.20 to 75.90 exists. At the same time, Stochastic started to form a positive divergence along with a positive overlapping sign which may assist it to breach the key resistance level around 77.20. SMA 20 -colored in green- is now valued at 77.20 suggesting that a break of which will bring an upside explosion. Anyway, we keep our bullish predications intact over intraday basis, supported by the classical probability of forming head and shoulders bottom pattern and the above seen Elliott count. Only a breakout below 75.80 will give us reason for concern.

The trading range for today is among key support at 75.80 and key resistance now at 78.45.

The general trend over short term basis is to the upside, targeting 87.45 as far as areas of 75.20 remain intact.

Support: 76.75, 76.40, 76.20, 75.80, 75.60
Resistance: 77.40, 77.60, 77.90, 78.45, 79.10

Recommendation Based on the charts and explanations above our opinion is, buying the pair around 76.75 targeting 78.80 and stop loss below 75.80 might be appropriate.

USD/JPY Emerging Signal

admin — Tue, 13 Sep 2011 18:46:45 +0000

Yesterday’s upside move was limited below SMA 20 -coloreed in green- and we need to witness stability above this level at 77.30 to see acceleration. Stochastic suggests potential retest of 76.75 zones before overlapping positively once more. Our mixture between Elliott sequence and classical bullish probability remains valid over intraday basis as far as areas of 75.90-75.80 remain intact.

The trading range for today is among key support at 75.80 and key resistance now at 78.45.

The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.

Support: 76.75, 76.40, 76.20, 75.80, 75.60
Resistance: 77.40, 77.60, 77.90, 78.45, 79.10

Recommendation Based on the charts and explanations above our opinion is, buying the pair around 76.75 targeting 78.80 and stop loss below 75.80 might be appropriate.

USD/JPY Emerging Signal

admin — Mon, 12 Sep 2011 21:44:57 +0000

The pair is presently achieving normal pullback due to facing 38.2% Fibonacci retracement of the entire downside rally from 80.20 to 75.90. This mild recovery was needed to relieve momentum indicator and we believe that it will be limited in the areas between 77.20 and 76.95 before moving higher once more to complete the suggested Elliott sequence. Moreover, we can see the potential head and shoulders bottom pattern which took long time to be formed; thus, it may cause a price explosion to the upside and that will match the IM -impulsive- nature of “C” wave. Ultimately, the bullish classical pattern will be valid as far as areas of 75.90-75.80 remain intact.

The trading range for this week is among key support at 75.25 and key resistance now at 80.05.

The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.

Support: 77.20, 76.95, 76.40, 75.80, 75.25
Resistance: 77.90, 78.45, 79.10, 79.55, 80.05

Recommendation Based on the charts and explanations above our opinion is, buying the pair around 76.95 targeting 78.80 and stop loss below 75.80 might be appropriate.

usdjp

USD/JPY Emerging Signal

admin — Wed, 07 Sep 2011 17:14:54 +0000

After touching 77.70 resistance the pair pulled back again to trade near 77.20 support. Trading above the 20 SMA and the ascending support shown on image shows how the pair is slightly biased to the upside, we still target 88.70 as the next target for the pair to complete the ABC zigzag correction of our Elliott wave count. Breaching the latest high at 77.70 will accelerate the move.

The trading range for today is among key support at 75.25 and key resistance now at 78.80.

The general trend over short term basis is to the upside targeting 87.45 as far as areas of 75.20 remain intact.

Support: 76.95, 76.40, 76.20, 75.80, 75.25
Resistance: 77.40, 77.85, 78.45, 79.10, 79.55

Recommendation Based on the charts and explanations above, our opinion is buying the pair around 77.20, targeting 79.55 and stop loss below 75.80 might be appropriate.

USD/JPY Emerging Signal

admin — Thu, 01 Sep 2011 14:01:37 +0000

In line with our yesterday’s suggested scenario, the pair succeeded in attacking the key resistance level of 77.20 as seen on the provided four hour graph. We can see how it also succeeded in achieving two closings above SMA 20; thus, we still believe that the bullishness may dominate the movements of the pair over intraday basis, supported by the mixture between classical probability of forming head and shoulders bottom pattern and the previous explained Elliott sequence from 80.20 zones. Of note, breaching through 76.95-77.20 areas will bring strong buying interests.

The trading range for today is among key support at 75.25 and key resistance now at 78.80.

The general trend over short term basis is to the upside, targeting 87.45 as far as areas of 75.20 remain intact.

Support: 76.40, 76.20, 75.80, 75.25, 74.80
Resistance: 77.20, 77.40, 77.85, 78.45, 79.10

Recommendation Based on the charts and explanations above our opinion is, buying the pair above 76.95 targeting 78.80 and stop loss below 75.80 might be appropriate.

USD/JPY Emerging Signal

admin — Thu, 01 Sep 2011 00:25:55 +0000

Tranquility still dominates the movements of the pair since the opening of this week, where we still believe that the suggested Elliott sequence offers the probability of starting ‘C’ wave sooner. We are not sure yet whether ‘B’ wave has been placed earlier at 76.50 zones or it is still in progress. But, we can see potential slant positive divergence On MACD traditional indicator; of course, it is still underway and it needs more confirmation. Breaching through SMA 20 at 76.85 will ease the path for re-attacking 23.6% Fibonacci retracement of the entire downside rally from 80.20. Of note, breaching 77.20 will accelerate the possible bullishness.

The trading range for today is among key support at 75.25 and key resistance now at 78.80.

The general trend over short term basis is to the upside, targeting 87.45 as far as areas of 75.20 remain intact.

Support: 76.40, 76.20, 75.80, 75.25, 74.80
Resistance: 16.85, 77.20, 77.40, 77.85, 78.45

Recommendation Based on the charts and explanations above our opinion is, buying the pair above 76.85 targeting 78.80 and stop loss below 75.80 might be appropriate