EUR/JPY CYCLES UPDATE Part1

[rufffen]

Possible SELL zone for EURUSD this week is 2990-3080, now this is not a call, if we will approach this area, I will update the situation.

Currently Im flat though just a small short on CABLE going with tight SL.

[rufffen]

NEW SETUP USD JPY

USD JPY SHORT SELL WINDOW 116.40-60 SL at 116.75 TP1 115.80

[rufffen]

USD JPY update

Looking at my data, I got <table x:str="" style="border-collapse: collapse; width: 76pt;" border="0" cellpadding="0" cellspacing="0" width="101"><col style="width: 76pt;" width="101"> <tbody><tr style="height: 12.75pt;" height="17"> <td class="xl24" style="height: 12.75pt; width: 76pt;" x:num="116.16" height="17" width="101">116,1600</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl24" style="height: 12.75pt;" x:num="116.74064000000001" height="17">116,7406</td> </tr> </tbody></table>
range as the SELL ZONE, so I shorted some lots at current price (116.14) and will add some more lots as we range in this area, prices will most definately drop soon time.

This should also see EUR USD trading well above 2900, and quite possible 3000 range, just a reminded here, <table x:str="" style="border-collapse: collapse; width: 89pt;" border="0" cellpadding="0" cellspacing="0" width="119"><col style="width: 89pt;" width="119"> <tbody><tr style="height: 12.75pt;" height="17"> <td class="xl24" style="height: 12.75pt; width: 89pt;" x:num="1.2986666666666666" height="17" width="119">1,2987</td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl24" style="height: 12.75pt;" x:num="1.3066886666666666" height="17">1,3067</td> </tr> </tbody></table>
is the first SELL ZONE on EUR USD this week.

[rufffen]

USD JPY was stopped out for -36 pips, apparently it's doing a decent overshoot now, Im only adding more to short possies, since Im fairly confident that we are topping out, looking at USD CHG EUR USD GBP USD Id say reversal it coming shortly, although CHF hints that there is further 100 pips upside possible.

Can't advise to take any position right now on majors, 1st EUR USD BUY ZONE wasnt triggered yet (2647-2672), so might as well say that best R/R is to stay out of the current markets.

[rufffen]

Here's a USD CHF daily EW analysis to confirm the majors upcoming reversal.

[rufffen]

someone was asking me about EUR JPY direction, you can MSN me @ rufffenfx@hotmail.com

[rufffen]

EUR USD UPDATE:

TWO BUY ZONES THIS WEEK

<table x:str="" style="border-collapse: collapse; width: 89pt;" border="0" cellpadding="0" cellspacing="0" width="119"><col style="width: 89pt;" width="119"> <tbody><tr style="height: 12.75pt;" height="17"> <td class="xl25" style="height: 12.75pt; width: 89pt;" x:num="1.2512918666666666" height="17" width="119">1,2513</td> </tr> <tr style="height: 13.5pt;" height="18"> <td class="xl26" style="height: 13.5pt;" x:num="1.2594666666666665" height="18">1,2595</td> </tr> <tr style="height: 13.5pt;" height="18"> <td class="xl24" style="height: 13.5pt;" height="18"> </td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt;" x:num="1.2676414666666664" height="17">1,2676</td> </tr> <tr style="height: 13.5pt;" height="18"> <td class="xl28" style="height: 13.5pt;" x:num="1.2701666666666664" height="18">1,2702</td> </tr> </tbody></table>
Im fairly confident that one of the zones will be reached by mid-week to present a very decent R/R LONG SETUP.

One can also BUY at current levels, since there is more upside potential, however SL will have to be wide.

Id suggest to take EUR USD profits at 2820 2880 area this week, and maybe SHORT from 2880 2920 levels if we experience good price swings.

Across the board, USD JPY and USD CHF looking as good SELL opportunities, just need to get in at good price.

[rufffen]

EUR USD UPDATE:

TWO BUY ZONES THIS WEEK

<table x:str="" style="border-collapse: collapse; width: 89pt;" border="0" cellpadding="0" cellspacing="0" width="119"><col style="width: 89pt;" width="119"> <tbody><tr style="height: 12.75pt;" height="17"> <td class="xl25" style="height: 12.75pt; width: 89pt;" x:num="1.2650583333333336" height="17" width="119">1,2651</td> </tr> <tr style="height: 13.5pt;" height="18"> <td class="xl26" style="height: 13.5pt;" x:num="1.2698333333333336" height="18">1,2698</td> </tr> <tr style="height: 13.5pt;" height="18"> <td class="xl24" style="height: 13.5pt;" height="18"> </td> </tr> <tr style="height: 12.75pt;" height="17"> <td class="xl27" style="height: 12.75pt;" x:num="1.2746083333333336" height="17">1,2746</td> </tr> <tr style="height: 13.5pt;" height="18"> <td class="xl28" style="height: 13.5pt;" x:num="1.2760833333333337" height="18">1,2761</td> </tr> </tbody></table>
Also one can SELL EUR USD at current prices with SL at or above 2880 for target TP of 2740 later this week.

Also interesting to note that EUR USD broke out of uptrend and now establishing in downtrend channel, althouth EUR JPY is not showing any signs of weakness, and will likely reach 154 by October, as I was forecasting earlier in August.