Hi i want to share my chart of USDJPY. You are gonna see 1D, 4H, 15M charts in a row. Its my first thread so im quite amateur. You can feedback me about thread or chart.
Here are my predictions for USDJPY starting this week 4 September.Hi ff40e, thank you for your USDJPY post. I attach my USDJPY chart using a daily short term trend channel (STTC) shown in blue top, middle and bottom and a weekly long term trend channel (LTTC) shown in green top, middle and bottom.
The USDJPY closed the day today at the middle of its STTC.
For the USDJPY to start trending downwards then it has to find resistance below the middle of its STTC which is currently at 144.87 for tomorrow. The bottom of its STTC is currently at 142.25. So to arrive at your target 141.497 then the STTC has to start falling.
I will post my STTC-LTTC chart again in a few days time to see if the middle of the STTC has become a resistance.
the bullish wave can not end until the price line raises to 148, this is my personal view and is not fully trusted.
Interestingggg, I had heard of arbitraging with forex pairs, i never understood how it worked, I did do it for crypto as i could buy and sell evey one against another but for forex, as i had to keep the base of my account as USD, i didnt have any idea how to doit, Thans a lot, it was probably one of the most useful things posted here.Here is an update to the charts I already posted for the triplet
GBPUSD X USDJPY = GBPJPY
Analysing FX pairs in triplets because of arbitrage gives additional information.
I use daily H/L/C values to calculate a short term trend channel (STTC) 1 day into the future. The top middle and bottom of this STTC are shown in blue on the attached charts and listed at the top of the charts for 16th October.
I use weekly H/L/C values to calculate a long term trend channel (LTTC) 1 week into the future. The top middle and bottom of this LTTC are shown in green on the attached charts.
The direction of the STTC and LTTC, whether the STTC breaks through the LTTC and how the market is interacting with the top, middle and bottom of the STTC and the LTTC can then be used for analysis.
Three charts attached for tomorrow 16th October:
- 2023-10-16-GBPUSD-1day.png showing the rebound of the middle of its STTC off the bottom of its LTTC on 5th October.
- 2023-10-16-USDJPY-1day.png showing the top of its STTC breaking back down through the top of its LTTC on 11th October Its STTC is now horizontal so not showing short term bullishness as of tomorrow.
- 2023-10-16-GBPJPY-1day.png shows the FX pair making a rebound off the bottom of its LTTC on 3rd October. Then testing the middle of its LTTC two days ago. Until GBPJPY breaks up through the middle of its LTTC and finds support then GBPJPY continues to be long term bearish.