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EurJpy - weekly channel resistance

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14 years 1 day ago #581 by Jackozy
Replied by Jackozy on topic EurJpy - weekly channel resistance
Forgot to add, USDJPY looks like it's still got legs but is approaching resistance at 8060 so maybe a clearer trade? dl.dropbox.com/u/20815047/USDJPYdaily25_10_12.gif
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14 years 1 day ago #580 by Jackozy
Replied by Jackozy on topic EurJpy - weekly channel resistance
Looks OK on the daily chart too, GC: dl.dropbox.com/u/20815047/EURJPYdaily25_10_12.gif

Stop would probably have to be outside 104.595 recent high. Will be interesting to see how it goes as it doesn't seem to have sharply reversed from that level.
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14 years 1 day ago - 14 years 1 day ago #578 by gclark25
EurJpy - weekly channel resistance was created by gclark25
Posted a chart a long time ago with a target resistance on the weekly - it has now struck that, and looks to be weakening by my reckoning






Shorter term view - 1HR




Certainly looks to be topping on the 1HR timeframe too.
Nice divergence and trendline correspondence on the RSI - in line with the bigger timeframe resistance.
Last edit: 14 years 1 day ago by gclark25.
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