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EURJPY Next Cycle Turn

by Ashraf Laidi
Jul 12, 2010 16:51 | 43 Comments

EURJPY Next Cycle Turn - Eurjpyhotchartjul12 (Chart 1)

EURJPY 5% month-to-date recovery looks vulnerable to a downward correction as the uncertainty from US corporate earnings meets overlaps with the multi-faceted interpretation of the Eurozone banking stress-tests. Sticking with my medium negative outlook for USDJPY and EURUSD, selling EURJPY appears a logical conclusion, which is especially highlighlted by its price action. Downward channel converging with negative stochastics after the failure of 113, suggesting 110.60 and 109.90 could work in the short-term. A retest of 107.70 would have coincide with Eurozone-driven risk aversion, in which case would trigger the perfect strom of yen gains and euro osses. TWO WARNINGS for the bears, however, are the "HIGHER HIGHS" seen in the DAILY stochastics chart as well as the potentially positive stochastics formation on the WEEKLY chart, in which case, shorts may consider stops at 113.10-40.

 

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Comments (Showing latest 10 of 43) View All Comments
miljenkooo
umag, Croatia
Posts: 4
15 years ago
Sep 22, 2010 12:21
Thanks for target ,and an explanation
Ashraf Laidi
UK
Posted Anonymously
15 years ago
Sep 20, 2010 23:54
FXT, Sudan

Pls read my IMT earlier on EURUSD

EURJPY seems back to finding that old resistance at 113


Ashraf
sudan
singapore, Singapore
Posts: 1
15 years ago
Sep 18, 2010 15:45
asharf how is euro/usd , will act next week,
FXT
london, UK
Posts: 13
15 years ago
Aug 3, 2010 11:29
Ashraf, what next for Eurjpy, seems to be stuck in a bit of a range.

Not really follwing equties run either!

your take would be most welcome!

Thanks
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Jul 27, 2010 15:38
Looks like this EURJPY call has done all it could as far as downside is concerned and those weekly stochatiscs (warned in the HotChart) are looking better so we may see 114.90s.

Ashraf
kidwai
karachi, Pakistan
Posts: 77
15 years ago
Jul 26, 2010 17:45
Hi Ashraf, Very good call on euro/usd , cad/jpy u are the boss.

GOD BLESS U

Best Regard

Kidwai
lifaylon
Posted Anonymously
15 years ago
Jul 26, 2010 17:40
Great calls Asharaf
Keep it up
Godbless
catnip
Frankfurt, Germany
Posted Anonymously
15 years ago
Jul 26, 2010 17:04
oh uh jpy is sold off ... anyway i keep the short trade
catnip
Frankfurt, Germany
Posted Anonymously
15 years ago
Jul 26, 2010 14:46
tp eurjpy long @11282 entry eurjpy short @11278
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Jul 26, 2010 9:39
FXT, yes. yen strength is reemerging

Ashraf
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