All about JPY crosses
Hi all,
So as predicted yesterday in this blog, 166.10 proved to be a very strong resistance for EJ. A short there would have yielded 50 pips by now. Now is the time to wait and watch the pricer action. All crosses(as ofthis writing) are at important supports with the Chinese stock exchange about to open. Will have to wait and see whether there is further retracement. If there is, we could buy on dips. For now, lets wait and watch.Below are the supports and resistances for the JPY crosses for today:-
USDJPY - Important support at 123.42. If that is broken, next support is at 123.20 which is a very strong support and the final major support is at 123.00. On the topside, the resistance is at 123.70 and then at 123.90.
EURJPY - Important support at 165.25. If that is broken, next support is at 164.85 and the final major support is at 164.40. On the topside, the resistance is at 165.65 and then at 165.92.
GBPJPY - Important support at 246.10. If that is broken, next support is at 245.40 and the final major support is at 244.70. On the topside, the resistance is at 246.60 and then a major resistance at 247.20.
Supports and Resistances for June 22, 2007
Hi all,
Well, the crosses seem to have got a second wind and now they have started moving up again. But there are rumors that China might announce a rate hike which might lead to some correction in the crosses. So we need to better watch out for that. EJ is moving towards the double top of 166.00 - 166.20....So it should be interesting to see what happens to that.Below are the supports and resistances for the JPY crosses for today:-
USDJPY - Important support at 123.82. If that is broken, next support is at 123.64 which is a very strong support and the final major support is at 123.44. On the topside, the resistance is at 123.93 and then at 124.05.
EURJPY - Important support at 165.65. If that is broken, next support is at 165.30 and the final major support is at 165.10. On the topside, the resistance is at 166.02 and then at 166.42.
GBPJPY - Important support at 246.25. If that is broken, next support is at 245.85 and the final major support is at 245.40. On the topside, the resistance is at 246.85 and then a major resistance at 247.20.
Thank You
This series of observations are the most intelligent contributions to this forum that I've seen in quite a while.
While many members of this forum are monkeying around with various Martingale schemes - and trading lots that are worth somewhere between a penny and a nickle, the Japanese crosses are providing rare opportunities for making a small forture (while trading for multiple dollars per lot, of course).
These pairs offer as close to a sure thing as you'll ever get in Forex. 
And as ns_karthik obviously knows, some day (possibly soon) these crosses are going to suddenly unwind and drop somewhere between 200 to 500 pips - and possibly more. There's going to be a bundle of money to be made by those who've been paying attention.
And then it will be time to buy, buy and buy some more until something of a major fundamental nature changes the "guaranteed profit" offered by the carry trade.
Absolutely. I guess u have also been following the carry trades closely. Thanks for your response and thanks for your support. The JPY crosses provide good opportunity to make some serious money. The thing with them is to be careful and make sure that we understand what we are doing.
Fundamentally, the carry trades encourage us to buy buy and buy but there would be corrections, retracements and potholes which we need to carefully understand and make use of.
Thanks ns_karthik
Hi all,
Well, the crosses seem to have got a second wind and now they have started moving up again. But there are rumors that China might announce a rate hike which might lead to some correction in the crosses. So we need to better watch out for that. EJ is moving towards the double top of 166.00 - 166.20....So it should be interesting to see what happens to that.Below are the supports and resistances for the JPY crosses for today:-
USDJPY - Important support at 123.82. If that is broken, next support is at 123.64 which is a very strong support and the final major support is at 123.44. On the topside, the resistance is at 123.93 and then at 124.05.
EURJPY - Important support at 165.65. If that is broken, next support is at 165.30 and the final major support is at 165.10. On the topside, the resistance is at 166.02 and then at 166.42.
GBPJPY - Important support at 246.25. If that is broken, next support is at 245.85 and the final major support is at 245.40. On the topside, the resistance is at 246.85 and then a major resistance at 247.20.Dear ns_karthik,
I hope u would continue contribute ur calculation/observation in this thread. I quite new in forex and found the JPY pairs very interesting pairs to trade. Some of ur signal are close enough to mine ( using pivot ).
thanks.
Sure Karmizi. You can also have a look at the signals, S and R at my blog and feel free to contact me at kartram.77 at gmail dot com anytime u feel that u need help.
Thanks.
This is a very good thread. Thanks, karthik. EURJPY has got to be my all time favorite pair to trade. It moves in such a cool way. 
lol....EURJPY is the middle sister of the jpy crosses with UJ on one extreme and the GJ on the other...
Do you make profit everyday here by using the sytem
Hi,
i actually trade in 2 ways...one is thru S and R and fibs and i trade intraday...the other way, i have a system which gives me signals once every 2-3 days for moves of a minimum of 40-50 pips per pair...i trade those as well...using S and R and fibs, i get around 70-80 % success while using the system , i have taken 4 trades and successful in all four so far (as can be seen from my blog)...
No one can be successful all the time. if they are, then something is wrong somewhere...
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
You agree to website policy and terms of use
Hi All,
I am quite new here though i have posted a lot in other forums. This thread will be used for discussion, S and R about the JPY crosses namely USDJPY,EURJPY and GBPJPY.
As you might know, these 3 are some of the most volatile currency pairs which can make or break trading careers. So be careful while trading them.
Right, as predicted in my blog yesterday, EJ had a very strong resistance at 166.10 which has now proved to be a double top and hence would be very difficult to break in the near future. A short there would have yielded a nice 50 pips by now.
The crosses have undergone a retracement as of this writing. For the crosses, due to the carry trade, it is always good in the short term atleast to keep buying the dips. So wait for a retracement and buy on dips. More to follow...