USD/JPY Short Term – 30 Aug 2009
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Originally posted by “FibMaster”. Sun Aug 30, 2009 6:43 pm
Check your USDJPY chart, mid term and short term traders can hunt for rallies to short. Below 93.50 is shorting territory. Look for bearish pattern LHLL and do your Fib studies for resistance..
Originally posted by “Kim”. Mon Aug 31, 2009 5:43 am
USDJPY has rebounded strongly to SK Res @93.30 and broken the downward trend line (see chart). The 4hrly TRSI is about to cross up, 1hrly TRSI has strong up trend towards level 50. Two scenarios:
a. Enter LONG if the price breaks the SK Res @93.30 with HH HL on 15mins chart, target at the last swing high @94.00.
b. Enter SHORT if the price rejects SK Res with 1hrly TRSI crosses down, target at the swing low @92.50. (prefer choice as daily TRSI is down).
Any comment!
Regards,
Kim
Originally posted by “FibMaster”. Mon Aug 31, 2009 6:16 am
At this moment I like the shorting option with 30-minute crossing down. There is some support at about 93.00 on very low time-frames, let’s see if that can break.
Originally posted by “FibMaster”. Mon Aug 31, 2009 8:17 am
Lower time-frame traders had some good profits already, and are now seeing some support on 5 min charts.
Originally posted by “FibMaster”. Mon Aug 31, 2009 8:20 am
Mid-term traders may want to bank some profits on a 15-minute TRSI exit trigger, then see if we get a weak rally to short later. Can always re-enter if 15 minute chart crosses down again.
