6 Responses to “EUR/JPY Respected bearish trendline”

1. on 03 Nov 2009 at 4:13 am1carlab

   Perfect call ydy. Congratulations. I followed your strategy and took short in GBP/YEN which is working fine as well.
   Now looking to short gbp/nok with a medium term perspective.

2. on 03 Nov 2009 at 4:26 am2César B. Leiceaga

   Thanks Carlos, I’m glad that you made money!
   I think gbp/jpy will keep weakening… About gbp/nok I don’t follow this particular pair but 9,58 offers a tough resistance area and in my opinion could possible resume the downtrend from here.

   Regards.

3. on 03 Nov 2009 at 5:14 am3A-SOLTANI

   DEAR CESAR

   EJ Retrace was deep but finally second leg drop of E leg of triangle started. my trade objective is 130.20.
   i`d like to know how do you identify your obj. @131 in this bearish trend?

   Best Regard

4. on 03 Nov 2009 at 5:34 am4César B. Leiceaga

   Dear A-Soltani,

   It’s a short term support and a good place to close short positions. What i’m saying here is that the probabilities of reaching 131 are high. It’s a significant low made during yesterdays asian session opening… I do not base my objectives on elliot wave theory or any other techniques, simply support & resistance areas.

   Best Regards.

5. on 03 Nov 2009 at 7:41 am5Jeremiah Colihan

   Cesar,

   I’ve been following your blog for a while and appreciate your analysis. It is simple, and simple is better.

   At 7:35 am NY time eur/jpy has bounced a bit but the Dow futures are down 90 pts this morning and should pull the pair down toward your 131.00 target.

   Thanks again.

6. on 03 Nov 2009 at 8:58 am6César B. Leiceaga

   Dear Jeremiah,

   Thank you for your comment.Keeping it simple makes trading easier, thats my opinion.
   I agree with your view, if selling pressure continues on equities, 131,00 on eur/jpy is a conservative target. We might attend a push lower to 130 level.

   Best Regards!

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