EUR/JPY - here's one for you Mick

[Gamma_Jammer]

Well I'm off to get some sleep now. Here's one to watch overnight.

Sell EUR/JPY on a break below 135.85/90 (couple of rising support lines converge there). S/L 136.20. T/P 135.20.

The take profit level is just ahead of what I think looks like pretty decent support now at 135.12. Rising support cpmes in there as does the 100 hour SMA the 38.2 Fibo retracement of the move the Aug 03 132.85 low to today's highs.

If it breaks this support I'd look to sell it again but I don't think that's gonna happen tonight now.

Why have I become obsessed with EUR/JPY all of a sudden? Maybe it will come to me in my sleep.

Good Luck all.

[MickMason]

I'm just watching it now shorted at 136.25 to see if it's scalpable (on demo). The market looks a little wary this morning after the Fed last night I'm sidelined until someone makes a decision about where we're going today!

Don't have nightmares...

Mick

[Gamma_Jammer]

Nice work matey - looks a good shout on my 5 min chart. On the hourly chart that I was using for the trade idea I posted it's definitely through both those initial rising support lines now as well as the 24hr SMA so I reckon might be worth staying in a little longer with a trailing stop.

Fibo level I mentioned was 135.12 initially 100 hour SMA 135.33 while the decent intermediate trendline looks to come in 135.30 ish so round there still looks decent support to me. What do you reckon??

If I can figure out how to make the chart appear in the post like James does I'll put it on.

[MickMason]

Hey this is good!

135.50 support I agree I've taken 50 (demo) pips it's just retracing now to around 136.00 where I'll sell again for 135.50

Nice prediction Gamma!

Mick

[MickMason]

...just re-read your post 135.30 ok

[MickMason]

Originally posted by Gamma Jammer

If I can figure out how to make the chart appear in the post like James does I'll put it on.

First save the chart to your HD in .jgp format then post a reply Attach file (just above the Submit Reply button) by clicking the Browse... finding the saved file. The pic doesn't appear in Preview Reply so just click Submit Reply.

Caution: Make sure you attach the right .jpg

[Gamma_Jammer]

Well that's what I was trying yesterday but it appeared as a link to download the picture. When James does it the pic seems to just embed itself in the thread so you see it straight away. Is he doing something different?? Should I be saving these images something other than paint?

Think you have your levels about rit so far. 136.00 to me looks like a good enough level to sell again. Guess you'd put your stop somewhere above 136.25?

[Gamma_Jammer]

Another go but I don't hold out much hope.