USDJPY Forecast (13 Jun 2012)

Looks like there’s another triangle in the making for USDJPY.  I’ll be watching this, and have set an alert for a price breakout upwards, and for it to hit my expected wave e completion.

Triangles are usually continuation patterns, so I’m expecting prices to break upwards upon completion.

USDJPY Forecast (31 May 2012)

I hope you had been happily riding the wave down after the past two entries on the USDJPY.

Price has made considerable move downwards, and I can count 5 waves of some degree completed.  This may be a good area to lock in some profits and let the prices ride.  If it it extends, that puts extra cash into the account.  But it is prudent to expect some correction after the 5 waves down.

Hourly Chart

Based on the post-triangle thrust measurement (see the vertical white line on the chart), price still have a ways to go.  The 5 waves down may below to an extended wave 3, which means there’s a possible correction for a wave 4, and then for prices to move back down to complete wave 5. Either way, it is good to preserve capital over being greedy for gains.

USDJPY Forecast (30 May 2012)

Here’s an update on my quick and dirty forecast on USDJPY Yesterday:

Prices have broken the wave d low, that my entry, and my stop is above the wave e high.  If it breaks the wave e high at this point, then the count is wrong.

If you are trading this, be cautious as I know many people who do not think USDJPY would sink much further.  Be prudent by take partial profits along the way if the trade moves your way.

USDJPY Forecast (29 May 2012)

Here’s a quick and dirty chart.  I think a triangle may be forming right now, and if the count is correct, I’m looking for a break downwards.  Take a look and make your own conclusions.  For the triangle to remain valid, prices must remain below the wave c high – 79.82.

If it reverses about now, the post-triangle thrust measurement goes down to around the 78.25 level.
Well, it’s really a quick and dirty analysis.  Remember to do your own due diligence when trading!

USDJPY Forecast (2 Feb 2011)

8h Chart

1h Chart

USDJPY Forecast (30 Jan 2011)

 

Looking to go long.  Just observing now.

Weekly Chart

8 hour Chart

USDJPY Forecast (24 May 09)

USDJPY looks like it is ready for a rally. Reasons:
a) Depth of Correction (Area of Previous 4th Wave)
b) Wave c = Wave a
c) Wave 2 = 50% retracement

There are some support resistance levels as well.

Looking at daily candlesticks... last candlestick is showing a bullish engulfing pattern.

So if you are going long on the USDJPY... look for a stop below wave 1 (assuming wave count is correct and this is a wave 4) around 90.00.

Good luck with your trading!