The Euro Japanese Yen intraday review.

Good morning Dynamic Traders,

Today I am going to review the intraday trade from yesterday's blog as hopefully you will have managed well and had a profitable trade if taken.

From the image below you will see that the trade was mentioned on the 8 o'clock bar at 130.60. By six bars later, the 2 o'clock bar, there was a possible one hundred pips offered and as mentioned I had just taken that trade.

Through close management I ended with 81 pips out of this by fibonacci analysis due to the cluster and hopefully you will have had a winning trade too.

Price at present has come down since and will need re analysing for any of you wishing to trade this intraday.

Charts courtesy of AdvancedGet.

Good luck today.

Clayton Farnworth.

The Euro Japanese Yen intraday.

Good morning Dynamic Traders,

Today I thought I would get an earlier posting with a possible opportunity on the EURJPY on the hourly timeframe for you intraday traders.

This is looking like a good long position for an intraday trade.

Price has recently risen through and fallen back to a strong figure.Although it did come back through this area it fell to inbetween breathers and an extension cluster although another cluster does lie south, and it is currently tackling the V.I.

I have just entered this with an aggressive stance and will manage accordingly.
Hopefully it will prove profitable and AdvancedGet is showing a Wave 4 count which does comply.

As always please do your own analysis before trading.

Charts courtesy of AdvancedGet.

Hope you have fun today and good luck.

Clayton Farnworth.

The Euro against the Yen.

Good evening Dynamic Traders,

Tonights chart awaiting your analysis skills is of the EURJPY on a four hour timescale.

As you will see from the image below we have got a squeeze in progress with a good figure acting as resistance together with the two previous tops, with a good fibonacci reversal cluster area and a rally in a longer term downtrend.

Initiatially I am looking to take some pips to the downside if I get confirmation, which is growing as I am writing this update, with the Stochastic hooking down from OB territory.

If the resistance should give way then the 130 area could possibly be reached and entry gained by our filter technique.

At present I am not in the trade but will wait to see what transpires from the medium impact news out later tonight.
















Charts courtesy of TradeStation.

Good luck and ensure you do your own analysis.

Clayton Farnworth.
FX Technical Trader.