28 December 2012

USD/JPY : Chart Update

  • The periscope upside breakout on the weekly chart is almost baked now. Short of a dramatic reversal to the downside sometime during the rest of today, the technical picture is unlikely to change too much from that captured here. ie bullishness confirmed.
  • Core : Long since 81.08. Trailing stops taken out at various times but have managed to hang on without too much difficulty. Expected close above 85.51 tonight is a new buy signal. Will assume that this will happen so angling for a nice location to increase position by an additional unit over the remainder of today's session. (now 86.46).
  • 92.45 remains the inverse SHS upside objective. Against a stop < 85.51, a fresh long  trade at current levels still makes plenty of sense in spite of the big move that's already taken place.


Taichiseal said...


Taichiseal said...

-87.77 on 25% of position.

Taichiseal said...

-87.85 on another 25%