EUR/USD 15/07/2010

EUR/USD

USD/JPY 04/09/2009

We have a massive bullish falling wedge formation on UJ (4H). A break above the upper trend line will be bullish in the short term.

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 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/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/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/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 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).