There’s a possible buy trade on the pair if it prints a bullish candle here at the bottom of the channel.  Also, if the pair closes outside the bottom of the channel, I am going to sell, using the Winnipeg (red) lines on the outside of the channel for the profit targets.

The USD/JPY fell out of the channel yesterday and it created a great sell trade down to the next Winnipeg lines (the red lines on the outside of the channel).  Man, I love channels.

It’s not a coincidence that USD spelled differently spells SUD, as in soap, as in bubbles, as in something bubbling upward.  The breakout we were waiting for yesterday did happen, and did move to our profit target quickly.

The USD/JPY is setting up to possibly break a trendline, and I’ll be waiting.  A break above the red trendline should quickly carry us to the blue dashed resistance area. 

The FFWL (The Society for the Friends of Fibbles and Winnipeg Lines), of which I am the acting president, standing in for Harry Banes (main character in my book) while he’s on summer vacation, is putting out the following alert:

The NZD/JPY fell right outside its ascending channel and created a sell trade just like the CAD/JPY did.  The sell comes on the close of the candle that falls outside of the channel.  The Winnipeg Lines (the red lines outside the channel) give us our profit targets.

Good morning, boys and girls!  Happy to have you along for the ride today.  We talked yesterday about the fact that the CAD/JPY was, far too soon, already back at the bottom of the channel.  And that it’s a possibility that we could sell it if it closed below the bottom of the channel.  Which it did.  Which did create a sell trade.  Which is profitable right now.

The red lines on the outside of the channel are my Winnipeg Lines, and are simply fib extensions of the outside of the channel (23%, 38%, 62%).  These are the profit targets on the breakouts.