USD/JPY Daily Video, October 08, 2013

[Sive Morten]

Good morning,
as our setup on EUR is still valid and has not changed at all since weekend, let's take a look at JPY. Here we have really pretty picture:





The technical portion of Sive's analysis owes a great deal to Joe DiNapoli's methods, and uses a number of Joe's proprietary indicators. Please note that Sive's analysis is his own view of the market and is not endorsed by Joe DiNapoli or any related companies.

 

[minimax]

Good work, Sive! But I think that weaker yen not necessarily means stronger usd but could aslo mean stocks rising so we should be careful with eurusd.

 

[georgeta]

jpy

Thank you Mr. Morten for the analysis!

I am following this pair since you noticed the VOB on Weekly. I made quite good pips from shorting the pair. If I understand VOB correctly, the minimum target should be the 61.8 expansion. Also we could get Butterfly Buy.

 

[Sive Morten]

Thank you Mr. Morten for the analysis!

I am following this pair since you noticed the VOB on Weekly. I made quite good pips from shorting the pair. If I understand VOB correctly, the minimum target should be the 61.8 expansion. Also we could get Butterfly Buy.

Hi Georgeta,
I'm not sure about your VOB, since it is too short history to the left. VOB is really rare issue. That's why it calls as breakout - creating absolute new extreme on DOSC. I suspect that there was no VOB.
Second, I'm a bit sceptical to butterfly "buy" on top, because butterfly is reversal pattern by it's nature, but butterfly on top has continuation quality, right? But sometimes they work...

 

[Kleinerbroker]

Good Morning Sive ,
thank you for this analisis . Would appreciate very much some continuation on this analisis ( .... as now I have some 5 LONG entrys (4 at BE) and starting at 96,909) .
Best regards
KB

 

[georgeta]

VOB

Thank you for the response!
I gave a lot of thinking to this situation and I decided, at some point, to consider a VOB. The market was not so oversold since October 2008, so there are 200+ periods.
At the minimum 61.8 target there is also a 1.272 butterfly target, as it shows on intraday chart.
Anyway, in mid term I will try to buy this pair because BOJ wants to double the monetary volume in the next 2 years.


If anyone wants to see my entry, there is on the 15min chart.