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  1. #1
    Veteran Member Ammeo's Avatar

    How to Trade the EUR/JPY for the week of 21-25 January, 2013 !!!

    EUR/JPY has been showing very beautiful price movements in the past few weeks as we saw Euro dominating the Japanese Yen for much part of the last month.
    Yesterday, The EU Ministers and Bankers supported Mr. Draghi’s statements that were given a week ago saying that they all see a positive recovery in the second half of 2013 for the Eurozone which could provide some boost to Euro off late.
    Meanwhile, the Japanese Economy Minister Amari statements are the cause behind yen movement, as he has recanted his statement from Tuesday in which he had cautioned against rapid currency depreciation. JPY continued to fall on comments from Vice Finance Minister Yamaguchi, who re-iterated that the government will not be abiding by the previous administration’s cap on bond sales.
    (Re: Yahoo Finance)

    We Further expect the pair to move through the upward momentum towards the (123.00-125.00) region within the next week as there seems to be nothing stopping the Japanese Yen from the current downward plunge.

    It is recommended to place a Call option trade anywhere below 120.00 at the start of the week and wait for its expiry above the 121.00 region on the 24th or the 25th of January as the overall trajectory of the pair is still upwards.
    Click image for larger version. 

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  2. #2
    Master Member vinayakm's Avatar

    Place calls on all currencies with JPY !!!

    Quote Originally Posted by Ammeo View Post
    EUR/JPY has been showing very beautiful price movements in the past few weeks as we saw Euro dominating the Japanese Yen for much part of the last month.
    Yesterday, The EU Ministers and Bankers supported Mr. Draghi’s statements that were given a week ago saying that they all see a positive recovery in the second half of 2013 for the Eurozone which could provide some boost to Euro off late.
    Meanwhile, the Japanese Economy Minister Amari statements are the cause behind yen movement, as he has recanted his statement from Tuesday in which he had cautioned against rapid currency depreciation. JPY continued to fall on comments from Vice Finance Minister Yamaguchi, who re-iterated that the government will not be abiding by the previous administration’s cap on bond sales.
    (Re: Yahoo Finance)

    We Further expect the pair to move through the upward momentum towards the (123.00-125.00) region within the next week as there seems to be nothing stopping the Japanese Yen from the current downward plunge.

    It is recommended to place a Call option trade anywhere below 120.00 at the start of the week and wait for its expiry above the 121.00 region on the 24th or the 25th of January as the overall trajectory of the pair is still upwards.
    Click image for larger version. 

Name:	adadad.JPG 
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    I totally agree with you! The USD/JPY is hovering at 3-Year highs and this all due to the weakening of the Japanese currency that we have seen over the last few months. This is a great investment idea for the coming week Ammeo!

  3. #3
    Legendry Member willyw's Avatar
    Quote Originally Posted by Ammeo View Post
    EUR/JPY has been showing very beautiful price movements in the past few weeks as we saw Euro dominating the Japanese Yen for much part of the last month.
    Yesterday, The EU Ministers and Bankers supported Mr. Draghi’s statements that were given a week ago saying that they all see a positive recovery in the second half of 2013 for the Eurozone which could provide some boost to Euro off late.
    Meanwhile, the Japanese Economy Minister Amari statements are the cause behind yen movement, as he has recanted his statement from Tuesday in which he had cautioned against rapid currency depreciation. JPY continued to fall on comments from Vice Finance Minister Yamaguchi, who re-iterated that the government will not be abiding by the previous administration’s cap on bond sales.
    (Re: Yahoo Finance)

    We Further expect the pair to move through the upward momentum towards the (123.00-125.00) region within the next week as there seems to be nothing stopping the Japanese Yen from the current downward plunge.

    It is recommended to place a Call option trade anywhere below 120.00 at the start of the week and wait for its expiry above the 121.00 region on the 24th or the 25th of January as the overall trajectory of the pair is still upwards.
    Click image for larger version. 

Name:	adadad.JPG 
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    EUR/JPY WEEKLY as of Monday, 21 January, 2013
    Euro Dollar / Japanese Yen broke above the down trendline at 103.60, 9 week(s) ago. This is a bullish sign. This down trendline, currently with an ending point at 100.98, may now provide downside support. Trading Euro Dollar / Japanese Yen, should place a stop loss just below the down trendline, in case the breakout is premature.Prices have risen some distance since breaking out--13.63%, thereby adding more validity to the breakout.
    A Weekly white body has formed (because prices closed higher than they opened).
    For the past 10 Weekly candlestick bars as of 18/01/13, there are 8 white candles versus 2 black candles with a net of 6 white candles.
    For the past 50 Weekly candlestick bars as of 18/01/13, there are 28 white candles versus 22 black candles with a net of 6 white candles.
    A Weekly long lower shadow has formed. This is typically a bullish signal (particularly when it occurs near a low price level, at a support level, or when the security is oversold).A Weekly spinning top has formed (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action as defined by the difference between the open and the close. During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.Three Weekly white candles has formed during the last three Weekly bars. Although these candles were not big enough to create three Weekly white soldiers, the steady upward pattern is bullish.
    Attached Thumbnails Attached Thumbnails eurjpy-candle-w.jpg  

  4. #4
    Legendry Member willyw's Avatar
    EUR/JPY DAILY as of Wednesday, 30 January, 2013
    On 29/01/13, Euro Dollar / Japanese Yen closed below the upper Bollinger Band by 20.1%. Bollinger Bands are 80.72% wider than normal. The large width of the Bollinger Bands suggest high volatility as compared to Euro Dollar / Japanese Yen's normal range. Therefore, the probability of volatility decreasing and prices entering (or remaining in) a trading range has increased for the near-term. The Bollinger bands have been in this wide range for 14 period(s). The probability of prices consolidating into a less volatile trading range increases the longer the Bollinger Bands remain in this wide range. The recent price action around the Bollinger Bands compared to the action of the Relative Strength Index (RSI) suggests that a possible selling (short) opportunity may exist. Prices have recently peaked above the upper Bollinger Band. This action was followed by a sell-off and then another peak inside the bands. The RSI has diverged from this price action with successive lower peaks, suggesting weakness ahead.
    Attached Thumbnails Attached Thumbnails eurjpy-d.jpg  

  5. #5
    Legendry Member willyw's Avatar
    EUR/JPY WEEKLY as of Monday, 04 February, 2013
    A Weekly big white candle has formed. This is a bullish candle as prices closed significantly higher than they opened. If the candle appears when prices are "low," it may be the first sign of a bottom. If it occurs when prices are rebounding off a support area (e.g., a moving average, trend line, or retracement level), the long white candle adds credibility to the support. Similarly, if the candle appears during a breakout above a resistance area, the long white candle adds credibility to the breakout.
    For the past 10 Weekly candlestick bars as of 01/02/13, there are 8 white candles versus 2 black candles with a net of 6 white candles.
    For the past 50 Weekly candlestick bars as of 01/02/13, there are 28 white candles versus 22 black candles with a net of 6 white candles.
    Three Weekly white candles has formed during the last three Weekly bars. Although these candles were not big enough to create three Weekly white soldiers, the steady upward pattern is bullish.
    Attached Thumbnails Attached Thumbnails eurjpy-candle-w.jpg  

  6. #6
    Legendry Member willyw's Avatar
    EUR/JPY DAILY as of Wednesday, 06 February, 2013
    A Daily white body has formed (because prices closed higher than they opened).
    For the past 10 Daily candlestick bars as of 05/02/13, there are 6 white candles versus 4 black candles with a net of 2 white candles.
    For the past 50 Daily candlestick bars as of 05/02/13, there are 32 white candles versus 18 black candles with a net of 14 white candles.
    A Daily engulfing bullish line has formed (where a white candle's real body completely contains the previous black candle's real body). The engulfing bullish pattern is bullish during a downtrend. It then signifies that the momentum may be shifting from the bears to the bulls.
    If the engulfing bullish pattern occurs during an uptrend (which appears to be the case with Euro Dollar / Japanese Yen), it may be a last engulfing top which indicates a top. The test to see if this is the case is if the next candle closes below the top of the current (white) candle's real body.
    Yesterday Euro Dollar / Japanese Yen closed above the upper Bollinger Band by 0.6%. This combined with the steep uptrend suggests that the upward trend in prices has a good chance of continuing. However, a short-term pull-back inside the Bollinger Bands is likely. This is a bullish signal.
    If buying EURJPY with short-term target at128.3353 and placing stop loss at 122.7827
    Attached Thumbnails Attached Thumbnails eurjpy-bband-d.jpg  

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