USD/JPY 04/04/2009

UJ is up 191 pips since the last update. I am holding onto the longs. We also see inverse head and shoulder pattern unfolding.

USD/JPY 31/03/2009

UJ has descending broadening formation with a partial decline around 96. It has broken out above 98. It may continue moving upwards in the near term.

ST Eng 28/03/2009 - Update

ST Eng had a nice breakout as mentioned in my earlier update here.
We may see a throwback before moving back up.

USD/CHF 19/03/2009

USD/CHF broke out of the broadening channel, I have entered a short trade with a trailing stop running.

ST Eng 16/03/2009

ST Eng has a partial decline on a broadening formation. If the price closes above the trendline consider buying with a stop below the trend line.

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 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 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.