USDJPY: Updated time at mode analysis
Updated
In this chart I'm showing the current time at mode trend as well as key levels obtained from the FOMC meetings and minutes release dates. You can see how you can navigate the price action with great accuracy if paying attention to these.
Right now, I'll focus on selling rallies against the key levels above, any rally is a sell, but if not offered, we can look for lower timeframe trend signals as well.
Until price tests the low volume support below, I'd discard any kind of bullish reaction.
I'll be trading this pair extensively, it's setting up for some excellent trade setups in the coming weeks.
Cheers,
Ivan Labrie.
Right now, I'll focus on selling rallies against the key levels above, any rally is a sell, but if not offered, we can look for lower timeframe trend signals as well.
Until price tests the low volume support below, I'd discard any kind of bullish reaction.
I'll be trading this pair extensively, it's setting up for some excellent trade setups in the coming weeks.
Cheers,
Ivan Labrie.
Comment
We didn't manage to retest the FOMC key level, we're about to test the first barrier.Comment
Interesting reaction to the lowest volume level on chart (a gap)Now, we have pending downside and plenty of time, but keep in mind these yearly levels:
Comment
Clearly something's brewing...USDJPY up considerably after hitting my target, almost.Oil vs gold spread at record levels, S&P500/Gold ratio chart touched the monthly Bollinger Bands lower band...
Comment
We could attempt a short soon, it's not a bad addition to my currency/stocks/commodities portfolio.Comment
Downtrend might resume, I'm long DJIA but looking to short *jpy pairs.Trade active
Reshorted USDJPY and also GBPJPY.I think we'll see 105-106, based on the time at mode signals on chart, and the reaction to the new FOMC minutes key level.
Comment
Had covered shorts and reopened today. Same pair selection, same targets.
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