USDJPY 12.09.2013

Hi all,


I'd like to update my view on USDJPY. You can find my prev. post on USDJPY here http://supamanfx.blogspot.com/2013/09/usdjpy-11092013.html

http://d.pr/i/N1SI - H4 chart

http://d.pr/i/QcLa - H1 chart

http://d.pr/i/FS94 - M30 chart zoom-out

http://d.pr/i/58eS - M30 chart zoom-in

I've relabeled wave count on m30 chart. The movement from 98.52 to 100.60 is in 5 waves, following by correction to fill the Monday gap. Expect wave iii purple of Wave III purple on the move


Please give your comment on this. Thank you

Supaman_fx

Duc

USDJPY 11.09.2013

Hi all,


I would like to share my view on USDJPY. (You can find my previous post on USDJPY here http://supamanfx.blogspot.com/2013/09/usdjpy-10092013.html)

USDJPY rally nicely today, showing clear sign of strength, break above Monday high @ 100.10 and Friday high (pre-NFP high) @ 100.22. Monday gap mentioned in my previous post hold nicely, showing strong support and indeed was a "Breakaway Gap". The market possibly in "third of a third of a third", which means we should expect a lot more upside strength coming up next.

http://d.pr/i/4mlo - M30 chart

http://d.pr/i/EI2x - H4 chart 

http://d.pr/i/MilZ - Daily chart

I'm looking higher in this pair, targeting 105.00-106.00 as mentioned in previous post. (Weekly chart)

Please give your comment on this. Thank you


Supaman_fx
Duc

USDJPY 10.09.2013

Hi all,

I'd like to share my view on USDJPY, one of the most heavily-traded currency pair

What used to be a $4-trillion-a-day market is now a $5.3-trillion-a-day one. A new Bank for International Settlements survey found that, 

"Foreign-exchange trading surged to an average $5.3 trillion a day in April 2013, boosted by greater [Japanese] yen volumes.

“Trading in the yen jumped the most, rising by 63% since the 2010 survey. Turnover in the dollar/yen pair rose by about 70%.”

Back in April the yen was near the end of its 7-month losing streak against the U.S. dollar. This week, the yen weakened again, pushing USD/JPY higher.

http://d.pr/i/XVlN - Daily chart 

In impulsive wave sequence, triangle wave formation is very typical for wave 4. In this wave count, I suggest market has finished a triangle a-b-c-d-e wave 4. And impulsive wave 5 is expected to be in the go. If wave 5 is not truncated, I'm looking for this wave 5 to break extreme point of previous wave 3 @ 103.73 (22.05.2013), to reach target of 105.00-106.00

http://d.pr/i/tPxz - Weekly chart

Taking a closer look @ lower timeframe

H4 chart http://d.pr/i/u7PD

M30 chart http://d.pr/i/jWYI - In Monday Asia session, USDJPY gapped up. I suspect this is a "break-away" gap, which implies bullish momentum. If market breakdown decisively below this gap, I'd take it as early signal to question Bull team and stand aside the market for more information. 

Please give your comment on this. Thank you

Supaman_fx

Duc