Forex-USDJPY

26May,2009 Daily Analysis on USDJPY

2009-05-25T17:51:00.000-07:00

Good morning may God bless you all,

Let us look into yesterday price bar,
Open = 94.55
High = 95.19
Low = 94.41
Close = 94.91
MFI = Squat bar
Total pips = 78pip
1/3 of Bar = 26 pip

From above information we conclude that yesterday started with buyer leading the market but at the price of 95.19, the seller is pressing the price to 94.91. If today the seller is successful to pushdown the price to 94.40, is mean the wave 3-2 is meet the top. If it happen, it is save to entry with sell position.

For me,
Setup sell stop = 94.39
Stop loss = 95.23
Profit target = 92.34 & 90.58
Loss win ratio = 1:2.4 & 1:4.5

Please study the chart carefully don’t just blind follow my step.!!!

May you all win more pips

Derek
derekdiscovery@gmail.com

May 24, Weekly Chart Analysis

2009-05-24T09:26:00.000-07:00

Blessed day to all of you,

From the weekly chart it seem the collective wave is over at the price of 99.76 and forming a wave1, the top of wave1 may be at 92.07, please monitor closely before enter a trade.

May 24, Daily Chart Analysis

2009-05-24T09:06:00.000-07:00

Blessed day to all of you,

From the chart we know that the wave 3 form an extention wave, the wave3-1 is over at the price of 93.85, I calculated the retracement may be 94.92(38.2%), 95.61(50%) or 96.70(61.8).
base on last Friday 60min. chart the closing show that very high chance is fall on 38.2% retracment. If this analysis is true monday is a good day to trade with sell USDJPY.