Trade opportunities on EURJPY

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Paul
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One major UPO at 135.57 has been reached today

Postby Paul » Wed Jul 14, 2010 8:16 am

One major UPO at 135.57 has been reached today.
Kindly note the reaction on touch.
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Paul
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An update of GBPJPY UPOs

Postby Paul » Wed Jul 14, 2010 8:30 am

An update of GBPJPY UPOs.

One major UPO (and old) @ 136.91.
A new UPO @ 133.32.
Strong support @ 132.45.

Minor UPOs at 134.86 and 134.61.
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Paul
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EURUSD hit 1.2761 target today

Postby Paul » Wed Jul 14, 2010 9:33 pm

The nearest UPO at 1.2761 was the first target for long positions.
We have seen hitting the target today. The first response was profit taking.

Paul
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EURUSD hit 1.2977 very fast but was being sold above

Postby Paul » Sat Jul 17, 2010 8:01 am

In th e previous post I wrote:
In the case of EURUSD it is important to look for very likely targets in the summer and confront it with forecasts based on fundamentals of euro's slump to parity or near parity versus the dollar.
EURUSD is now heading higher. In a chaotic system the upper UPOs are attractors while the lower UPOs are repellers. The number of repellers is growing. It also needs to be added that the repellers are relatively new while those attractors are relatively older.

There are a few UPOs from very strong selling dating back to May 10 and May 11 of this year. The nearest UPO is at 1.2761 and this is the first target for long positions. Above stand UPOs at 1.2880, then 1.2923 and finally 1.2977. They come from the same Elliott wave allowing me to attribute the May selling to very strong big names, rather than a result of natural anonymous market forces. Those big names are prepared to defend their positions and it is very likely that the market will not be able to reach the highest orbits without a fight. I anticipate a step by step going up rather than one shot. I think that EURUSD is likely to stay relatively high this summer.

EURUSD should stay well above 1.2560 for a couple of weeks."

Well... You have seen it all. EURUSD shot up way too fast. Those who were observing the screen probably know from the price action that there were stop losses hit a few pis above 1.2923, and some defense selling above 1.2977. EURUSD requires an update and a few more words. The most important question is why it overdoes so much, while we witness the same orderly changes on GBPJPY and other yen crosses. The summer time affects liquidity in an imbalanced way.

Paul
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An update of GBPJPY UPOs

Postby Paul » Sun Jul 18, 2010 7:16 pm

GBPJPY attempted 135.57 several times but finally that UPO turned into a repeller and now we are 300 pips lower.
GBPJPY shows two fresh repellers at 134.20 and 133.86 from last Friday. It also painted a 3 semafor so if this is a local low, then some retracement of the downside move should be expected. And in such a case the 134.20 level is 61.8% of the distance between the 135.57 UPO and the current low.
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EURJPY UPOs show some waiting

Postby Paul » Sun Jul 18, 2010 7:40 pm

EURJPY produced an older major UPO at 113.41. We have seen very heavy selling near 113.22. Major support is at 110.86. Since July 7 EURJPY has been producing short UPOs which means that the market is in the waiting for more fundamentals from the eurozone. Almost ideally halfway from the top to the support shows that inability to determine the outcome of the stress test. A couple of days more would be marvelous for technical trading with relatively low risk.
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Paul
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EURJPY massive sell off

Postby Paul » Tue Jul 20, 2010 11:03 am

EURJPY massive sell off is underway. Again the pair has failed breaking higher.
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Paul
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GBPJPY plummeted to 131.81

Postby Paul » Tue Jul 20, 2010 11:11 am

GBPJPY plummeted to 131.81. No turbulence in the recent slump. Thus we are left with those orbits which were shown earlier. Kindly note the first reaction when prices reached the important UPO. Having closed lower even once means that through 131.81 the market is bound to cross at least one more time (this is stipulated in the Poincare's theorem). In simple words we are going to see prices above 131.81 and below 131.81 for some time as if no major line were there, or as if the line disappeared.
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Paul
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An update of EURJPY UPOs

Postby Paul » Thu Jul 22, 2010 8:25 pm

An update of EURJPY UPOs
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Paul
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GBPJPY plummeted to 131.81 more times

Postby Paul » Thu Jul 22, 2010 8:30 pm

GBPJPY plummeted to 131.81. No turbulence in the recent slump. Thus we are left with those orbits which were shown earlier. Kindly note the first reaction when prices reached the important UPO. Having closed lower even once means that through 131.81 the market is bound to cross at least one more time (this is stipulated in the Poincare's theorem). In simple words we are going to see prices above 131.81 and below 131.81 for some time as if no major line were there, or as if the line disappeared.

GBPJPY shows excellent mathematical properties of a chaotic system.
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