EUR/USD 01/06/2010

Breakdown.

USD/JPY 02/06/2009

Previous post for UJ is here.
UJ seems to have completed the throwback. Target of 89-90 remains intact. The downward pressure will get escalted once the price breaks 95.173 and 93.820.

USD/JPY 28/05/2009

UJ touched the low of 93.845 before resuming upwards. Currently it is doing a throwback to the neckline for the H&S on daily chart. Neckline resistance is at 97.250. A new short trigger is probable once it resumes downwards below the neckline. Midterm target remains 89-90.

USD/SGD 22/05/2009 - Update

Previous update for USD/SGD is here.
Now at 1.4462, USD/SGD is very near the TP of 1.44. Most likely I will close this position today.

USD/JPY 15/05/2009

We have lower lows and lower highs. It has broke the support level. It might be headed towards 89-90 in the mid term.

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/SGD 10/05/2009

Previous post for USD/SGD is here.
I am still holding shorts on USD/SGD and it is on track towards the TP of 1.44.

USD/SGD 24/04/2009

USD/SGD: I can see Head and Shoulders pattern unfolding here. The neck line has already been breached today which means short entry has been triggered. We may see a pullback before falling further towards 1.44.

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 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 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.

USD/JPY 16/02/2009

I have attached the UJ weekly chart. We see the price testing a long term down trend line (Red). There is going to be a strong resistance and breaking the resistance could be unlikely. Although there is no clear signal to short yet, I like to go into a trade when there is enough momentum. For now, I will remain sideline to see how the prices move.

USD/JPY 13/02/2009 - 2

As per my earlier post UJ did enter the purple channel. I have closed the long on UJ just before it hit the resistance. Good week overall.

USD/JPY 13/02/2009

UJ has moved back up from the support level at 89.74. Currently testing the resistance at purple uptrend channel. I had a couple of long trades running, I have taken profit on one and will let the other trade run. If the price manages to break into the purple channel it may test resistance at 91.90.

USD/JPY 12/02/2009

UJ has been creeping towards the lower channel as mentioned in my earlier post. It is has broken the purple channel and currently sitting on support. We may see it move towards the blue trend line below. There are 3 high impact news tonight: 1) Core Retail sales, 2) Retail sales and 3) Unemployment claims. We may see the market very volatile. If the blue trend line is broken, we may see more downside.

For now the markets are stalled, its like the calm before the storm.

USD/JPY 10/02/2009 - 2

UJ is moving nicely between the purple channel. It tested the lower purple channel line and retraced back up. If broken the purple channel line, we may see it reach for the blue trend line as stated in my earlier post.