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USD/JPY Alert

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USD/JPY Alert

Postby Himanshu » Mon Aug 01, 2011 9:02 am

USD/JPY Alert:

Since July 11th the pair has been finding resistance near the 5-day EMA. The resistance has been broken for two consecutive days. This indecates that we can expect some more upwards correction

USDJPY Daily chart:


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Re: USD/JPY Alert

Postby Himanshu » Mon Aug 01, 2011 11:04 am

Followup on the above USD/JPY post.

Some downward correction is taking place but till now it is just a correction. Let's have a look on the daily chart where the 5-hour EMA is still above 22-hour EMA and 22-hour EMA is still above 55-hour EMA and the price is finding some resistance at 55-hour EMA. The real threat to the above alert will only start coming in with if a decisive break below 55-hours EMA takes place and it would start getting confrmed when 5-hour EMA crosses below 22-hour EMA. Please note that the earlier alert was based on DAILY chart and this post is going to the smaller time frame i.e. hourly chart.

USD/JPY Hourly Chart:


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Re: USD/JPY Alert

Postby Himanshu » Mon Aug 01, 2011 12:33 pm

Well, today's USD/CHF alert went quite well but this seemd to have failed.

Backward analysis: Expected that a temporary chane in the currency correlation may take place but that did not change.

5-day EMA crossed below 22-hour and also 55-hour EMA. and 22-hour EMA crossed below 55-hour EMA


Hourly Chart (USD/JPY):

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Re: USD/JPY Alert

Postby Himanshu » Mon Aug 01, 2011 11:32 pm

Himanshu wrote:USD/JPY Alert:

Since July 11th the pair has been finding resistance near the 5-day EMA. The resistance has been broken for two consecutive days. This indecates that we can expect some more upwards correction

USDJPY Daily chart:


Image


USD/JPY had a downward fall after this post but seems to be recovering again. Please check the current daily and hourly charts:

Hourly Charts:

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Daily Chary:

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USD/JPY Alert

Postby Himanshu » Wed Jan 25, 2012 12:00 pm

USD/JPY seems to come back to a bit of life after long. The pair is close to some strong resistance levels - 78.29/78.30 first and then 78.47. A break of the resistance should take USD/JPY towards 79.40/79.60. Please see the daily chart and the resistance trend line since November 2010 beginning. You may have to scroll the chart to view it completely.

usdjpy-jan25th.jpg
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Re: USD/JPY Alert

Postby Himanshu » Thu Mar 29, 2012 7:19 am

Please also check the weekly analysis/outlook of the last weekend on ForexAbode.com.

USD/JPY had a support and had moved up a bit but as we had mentioned during last weekend's outlook, such a strong upward move needs a correction. And what best level is there apart from Fibonacci 38.2% first. The pair has turned downwards again and some time back I had posted a message of ForexABode's Facebook page and Group (http://www.facebook.com/#!/groups/ForexAbode/) as well as on Twitter (http://twitter.com/forexabode) about a move towards 82.30. That is over now. I would expect some support near 81.95 and witha break of that the next move should be towards Fib 38.2% retracement i.e. to the range of 81.05 to 81.20.

usd-jpy-march-29th.jpg
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Re: USD/JPY Alert

Postby Himanshu » Fri Mar 30, 2012 8:00 am

This is in continuation of the previous post about USD/JPY.

Points to be noted about the status:

1) 5-day EMA crossed below 22-day EMA first time since March 8th.
2) Tenkan-sen of daily ichimoku cloud crossed below Kijun-sen. The signal is a weak bearish signal but it signals some more downward move. Chart posted below. (Check Ichimoku cloud).
3) As mentioned during the weekly analysis on last Sunday, such a strong upward move warrants a consolidation.

Points to be noted about the possible targets:

1) 55-day EMA support near 81.20.
2) Support of the upper edge of daily Ichimoku cloud near 81.30.
3) Fibonacci 38.2% retracement of the recent upward move at 81.05.

Take your pick. My pick is certainly for more downward move and I am short as per my post under "Real Time Trade Positions" sub-forum.

USD/JPY daily chart with EMA:

usd-jpy-ema-march30.jpg
usd-jpy-ema-march30.jpg (275.14 KiB) Viewed 5433 times


USD/JPY daily chart with Ichimoku cloud:

usd-jpy-ichimoku-march30.jpg
usd-jpy-ichimoku-march30.jpg (272.93 KiB) Viewed 5433 times
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