EURJPY Channel For Next Week

EURJPY H4

EURJPY Channel trade. 

Plan to short near the channel's upper trendline and to go long near the lower trendline.

EURJPY Short Trade Plan

EURJPY H4

Although after today's Yen weakness, shorting XXXJPY pairs is not a good idea but the today's moves seems exorbitant. 
I also favor shorting Yen, but currently I am looking for a pullback. Its purely a technical trade and currently price looks very overbrought on all timeframes. 

There's a descending channel on H4 charts and price is trading inside it since last week of Jan-13. Price is near to channel's upper trendline. 

I plan to short, small size, on touch of the channel. That area comes around 124.75/80. I am looking for a pullback. Stop will be on H4 close above the channel. 

AUDJPY Channel and Resistance

AUDJPY Hourly

Pair is in descending channel. 

On any spike, strong resistance comes up at 98.20/25 area. This area is support turned resistance and I am expecting this to hold. 

I plan to go short on touch of the resistance area with stop on daily close above it and targeting middle/lower part of the channel.

CHFJPY Hourly Triangle

CHFJPY Hourly

A triangle trade is coming up in CHFJPY pair on hourly charts. 

Upper trendline is connecting highs of 14-Jan and 21-Jan. While the lower trendline is connecting lows of 9Jan & 16Jan. Price is currently sitting at 200EMA and looks like price is consolidating after recent Yen weakness.

USDJPY Time To Buy ??

The Japanese Yen has been the worst performing major currency in the past 4 months. Looks like that its downtrend is clear. 

Speculators has been quick to jump on sudden Yen downtrend. CFTC COT report hows that large speculators are now their most net short JPY ( means long USDJPY ) since 2007 when the USDJPY traded near 115.

Options data shows that traders are at their most relatively bullish USDJPY since 2004, their now exists a premium for aggressive bets on/hedges against USDJPY strength for only the second time on record. 

GBPJPY At Big Weekly Resistance

GBPJPY Weekly

Pair GBPJPY is knocking at a major resistance level on weekly charts. This levels comes through 139.20 to 140 area. 

This area is support-turned-resistance. 200EMA is also coincides with this resistance level.

If this resistance gives up, then it will be free ride till 145 level. No resistance comes till then.

Yen Weakens to 28-Month Low

The yen weakened to the lowest since August 2010 amid speculation the Bank of Japan will inject more cash. Asian stocks and most commodities advanced as U.S. lawmakers arranged meetings before a budget deadline.

Japan’s currency dropped 0.4 percent to 86.40 per dollar as of 11:17 a.m. in Tokyo. The MSCI Asia Pacific Index (MXAP) gained 0.4 percent as the Nikkei 225 Stock Average climbed 0.8 percent, on track to close the year today with the biggest annual gain since 2005. Standard & Poor’s 500 Index futures were little changed. Oil added 0.5 percent in New York while London-traded copper rose 0.4 percent. 

EURJPY At Big Weekly Resistance Level

EURJPY Weekly

A big weekly resistance is coming up in EURJPY. This resistance area spans from current level to 114.30/40. 

This area has provided good resistance previously and has been a good support when broken. 

USDJPY Channel Short

USDJPY H4

This setup is in place from past few sessions. Previous post [here].


Price is moving in a descending channel from past few sessions. Price movement looks rangy.

GBPJPY Channel Short Trade

GBPJPY Daily

I am watching this setup from past few sessions and have trade it well previously. Initially I went short at 132.48 and booked at 132. Previous post [here].

Price is moving along the channel's upper trendline. 

AUDJPY Channel Short Trade

AUDJPY H1

Pair is consolidating in ascending channel on hourly charts. This channel is in place since 21-Nov and has restrained price action since then. 

200EMA is good support on dips and price is bouncing from it. 

USDJPY Channel Trade

USDJPY H4

I am watching this setup from past few sessions. Previous post [here].

On Friday, price did went up to the channel's upper boundary but then backed off with same speed with which it went up. But I didn't took that trade being high risk even, NFP. 

CHFJPY Channel Trade

CHFJPY H1

Here pattern is almost similar as in USDJPY. See setup [here]. 


A flag pattern on daily and channel on hourly charts. As long price remains in this channel, flag pattern is valid and price may see more upside. 

GBPJPY Channel Short

GBPJPY Daily

Initially I went short this pair at 132,48 on test of channel's upper trendline. Previous post [here].

Since then pair is moving along with trendline. 


Now another resistance area is coming up which is high of March-12. This area might provide some pullback to a over brought pair. 

USDJPY Channel And Flag

USDJPY H4

Price is consolidating in a parallel channel on H4 chart. It looks like a flag formation as well. 

The move from 79.21 is consolidating after hitting 82.83, recent highs of 22-Nov. Since then price is consolidating in channel. 

AUDJPY Trendline Short Trade

AUDJPY H4

Its resistance-turned-support scenario on H4 charts.

The trendline is in place since last week of Oct and was a good resistance on several occasions. The same trendline, after upside break, has become support. 

The price is failing to make new highs, but as long as price is above the trendline, more upside is open. 

USDJPY Triangle Short Trade

USDJPY Daily

I am watching this setup from past week. Details [here].

The setup is on daily charts and price looks a little over brought. 200EMA & 100EMA is towards lower part of the triangle. 

I plan to go short on touch of upper trendline. That area comes roughly comes around 83.25.

AUDJPY Wedge Short Trade

AUDJPY H4

Wedge short trade on AUDJPY Pair. I am tracking this wedge from past few sessions.

Looks like all the fuss about YEN weakening is steaming out and YEN is strengthening again.

USDJPY Channel Short Trade

USDJPY H1

USDJPY is coming down in a descending channel. and a short trade is waiting on a bounce. 

I like this trade as it offer a nice RR. 

AUDJPY Long Trade Setup

AUDJPY H1

 A long trade setup is coming up in AUDJPY on a retracement. 

Its on the touch of a resistance-turned-support trendline. 200EMA is also following up fast and looks like it will meet trendline to provide more support on pullbacks.