USD/JPY 04/08/2009

UJ is currently trading in the uptrend channel on 4 hour chart. It seems to have created a partial decline. A break below the lower trendline could see further sell off towards the recent low of 91.72.



On the daily time frame UJ is trading between the long term downtrend channel.

USD/JPY 13/05/2009

UJ met TP of 96.248 as per my earlier post.

USD/JPY 12/05/2009

UJ has formed a double top on 4h. It has broken below the support giving the price target of 96.248.

USD/JPY 29/04/2009

UJ 4Hr chart has remained in the downtrend black channel. If wave 4 as indicated is completed, we may soon see a down leg for wave 5. However, if the channel upper trend line is breached we may see price move further up.

USD/JPY 18/04/2009

UJ has completed the 5 waves, the correctives have begun. We may see a top at wave b followed by a down wave c.

USD/JPY 10/04/2009

We have higher highs and higher lows on UJ. Currently wave 5 seems to be unfolding which should give us more upside before the corrective waves begin.

USD/JPY 16/03/2009

We have a rising wedge formation unfolding on UJ on hourly. Prices might bounce of the trendline below and test the trendline above. I will stop the longs if the price breaches the 200MA.

USD/JPY 04/03/2009

Flag formation on UJ on hourly. Right now it is consolidating. A break above the recent high of 99.46 could trigger more upside. At the other end, if prices drop back 99.06 it could turn bearish.

USD/JPY 02/03/2009

UJ is under consolidation currently. We can see a triangle formation (blue). A break below 96.84 we could see more downside. We can also see a cross of the moving averages although they need to be declining for more downside.
However, if prices moving above the triangle will make it bullish again.

USD/JPY 27/02/2009

UJ broke down from the rising wedge as per my previous post. Today the price may continue to go down.

USD/JPY 26/02/2009

UJ has broken above the base as mentioned in my previous post and now moving towards the resistance on hourly chart. In the process it has also created rising wedge as showed in the chart. There is a possibility that it would trigger a bearish trend. I would take profit and remain sideline for now.

USD/JPY 25/02/2009

UJ has formed a base on the hourly chart. If it manages to break through the upper line of the blue channel, we can see more upside. However, it will turn bearish if it break below the lower line of the blue channel. For now, I have placed buy stops above the upper line to long for the short term.

USD/JPY 24/02/2009 - 3

UJ had a good run so far. It is now approaching resistance. I have closed my long positions for now. It doesnt mean it will not run up further. However, it may consolidate in the green channel for now. If it breaks the lower trend line of the channel, it may turn bearish again.

USD/JPY 24/02/2009 - 2

So far so good. The flag formation was successful as per my earlier post.

USD/JPY 24/02/2009

UJ has returned back into the uptrend channel. And it has also broken above the recent high of 94.64. We may see it continue its uptrend in the short term. We may see it test the upper trend line of the uptrend channel. Currently we can witness a flag formation on UJ, we might see it create a long blue bar if this flag formation is successful with good volume.
Stop loss should be below the lower trend line.

USD/JPY 21/02/2009

As mentioned in my earlier post, UJ has broken the uptrend channel downwards. We may see further downside next week. I have entered short positions near lower channel line.

USD/JPY 20/02/2009

UJ is current trading in uptrend channel (green). Resistance is around 94.64 which was a recent peak in Jan 09. Likely scenario is it will retrace from the peak forming a double top. If it manages to break out of the channel above 94.64, we can consider taking long positions.

However, we can consider short positions if it breaks out of the lower channel line downwards for a longer term trade. (More likely scenario).

USD/JPY 19/02/2009 - 2

Awesome!

USD/JPY 19/02/2009

UJ has broken out of the short-term down trend channel. Currently a potential flag formation is unfolding on 4H. If it manages to break through the neck line with good volume we may see a long up bar targetting above 94. Stop loss should be below the recent low.

USD/JPY 18/02/2009

UJ has tested the red down trend line and retraced. I still dont have a clear short signal yet.
However, I have entered a couple of short trades just near the resistance line with stop loss just above it. Will add to the position if the shorts are triggered. Looks like the purple channel is still being played.