USD/JPY 9.18.12 – 521PM

Pair is running into resistance line on the daily chart, a line that dates back to 3.21.12.

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On the 4hr chart the price has broken thru it with a very bullish candle but has run into the Daily horizontal resistance.

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On the next 4hr chart the price found support on the 200MA and is above it, indication a bullish move but this move may not last and may fill on this (5-9pm) candle or even the (9pm-1am) but may reverse over-night and make a run in the AM. The run-up to the 79.00 area is 20pips away and the next daily resistance is at 79.143.

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Wednesday 9.19.12 – 916am

Re-analysis of this pair, since it ran up last night which I thought it would’ve done this morning but also it has retraced most of it back. Looking at this hourly chart and having the S/R lines drawn in pink I think we should see a bounce of the thicker Pink line now when this market opens.

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WEDNESDAY – 159PM

After re-analyzing this pair I see this continuing its down trend (look at daily graph above). Looking at the 1hr the Fib pull back is just 23% and that is where my SL can go (-14pips away). Also, the /DX is looking like its reversing (see very bearish candle in chart below).

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TRADE – 204PM – WENT SHORT WITH SL AT -11PIPS.

Loss – 821pm – (-12.3pips)

WEDNESDAY 949PM

Even tho I got stopped out, the price turned back from peaking where my stop was. Pair has been up-trending (look at chart below) but looks to me as it will fall again, maybe over-night it may run-up and then again like today (Wednesday) morning we should see it trough around 11am. I think the bold pink line is now resistance.

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THURSDAY 9.20.12 – 815AM

Went short with (-11pips) SL

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Loss – 1039am – (-10.3pips)

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