It looks like the AUDJPY may be topping out. The following 15 minute chart shows a return to a previous high with something that could end up being a head and shoulders pattern emerging.However, the 3 hour chart is showing a possible continuation and has been trending upwards for quite a while.Open up your trading platform and choose your play...Play safe!

I've been through a lot of (non-trading) issues since I last wrote.My family and I have moved halfway across the nation, we've gotten new jobs, and had to take care of a million minor items that occur when you relocate your life. Sorry for the lack of updates.I have been doing a little manual trading here and there.The AUDJPY has been failing in the 87.xx range for most of this month. Greece,

No, that's not a typo. It's a rip-off of a line from the Back To The Future movie. Anyway, this post is another in the series of theoretical considerations with respect to various robot building strategies.In this scenario let's consider fixing our maximum total position size across a specific price range. For example, perhaps we are willing to purchase 10000 units per 1000 pips (remember, I'm

The AUDJPY has had a nice run just recently.However, the 1HR is showing a small double top. Obviously, we might be looking at the beginning of a range discovery action or perhaps even a reversal if we get renewed panic concerning Greece or similar situations.Be patient and look for good opportunities.Now if only I can take my own advice... ;)

Finally, something has happened to lift the pall from the AUD/JPY market.What happened? The Australian economy showed signs of heat. We have recent employment numbers that absolutely blew away expectations.Apparently, today, the AUD/USD moved from a value that gave a 25% chance of a hike in march to a 50% chance of a hike in march. Do you remember me talking about the need for a upside

While I've been talking about the cake being baked we've just done nice big double top over the course of October 2009 through February 2010 on the daily charts.Obviously, this doesn't have to "fire" but it does invite a big panic drop to retest the July 2009 low of 70.75 or so. Considering today's rapid plummet of 300 points at this point who can say.As I noted on my last post I do think people

Well, the RBA just decided not to increase rates.Recently, China decided to tighten up capital requirements for lenders.Also, there has been talk of taxing or otherwise restricting carry trade activities.Lest we forget, recent news in Australia is mixed.The US market has been skittish.Emerging markets have been very skittish.So, what am I trying to say?I'm thinking the cake is baked. You might

First, I have to warn you, I'm eternally bullish on the AUDJPY. This means I'm wrong on my predictions a fair amount due to my long term viewpoint.With that said, I've noticed a chart sign that implies some possible upward movement. Take a look:It may not be easy to see, but notice how the recent tails, at 09:00, under the last few candlesticks did not project below the closing prices during a

I don't have time to snip a chart or anything, however I'd suggest taking a few moments to analyze the AUDJPY.What I see is the potential for a so-called "big W" on the 3 hour chart. You'll notice the right side of the W has a double bottom. If we do get the full "big W" we should see some dramatic upward movement over the week.Fundamentally, inflation, employment and other indicators in

Well, my posts are few and far between these days.In case anyone else is still following long here is some good information on the 3hr AUDJPY.We have a nice symmetric triangle going all the way back to November 25th.See?I'm expecting this to break (upward) and then run into a downward sloping resistance line on the 1d AUDJPY. However, we'll have to wait and see. I've been wrong (more than a few

I'm looking at a short term chart, but the lack of volatility suggests that something is in the air.Even with the recent good news from China things have been relatively lethargic.The daily chart is also showing the potential to have a few down days.This seems like a good time to manage risk.UPDATE: This evening, while I was on the road, I see that we had a nice spike upwards, hitting my

My last post showed a profitable overnight setup based on a week long support line on the 1hr chart.Here, I've got an example of a support becoming resistance once it has been violated.Take a look at the following 15min chart:See the violation around 9:00pm last night? As an aside, this was a good point to try a well protected short. Overnight we tested a longer term support line (see my

Since I'm awake I thought I'd point out a price alert.The AUDJPY currency pair is testing a support line.A long tail break (closing on or above the support line) would still be a bullish sign.Anywhere, here's a recent 1hr chart snip.This is a good place to look for a trade. Good luck.NOTE: See the previous post... it shows the support line valid since November 1st.UPDATE: Upon waking this

What the heck, I may as well jump out on a limb and let you know what I'm seeing with the AUDJPY.Basically, if you look at the chart, we've had a good support line since the beginning of November.Now, if I've got the right chart uploaded, take a look below:Personally, I'd suggest taking a long position when the price approaches the support line. You can set a nearby stop and protect yourself

Things are going well. As you can see BREAD (Basic Robot Earning All Day) is starting to look like a winner. Return Day 0.1900% Sun 13 September 3.2339% Mon 14 3.1616% Tue 15 3.2615% Wed 16 2.1510% Thu 17 0.4442% Fri 18 --------------- 13.05% 0.1850% Sun 20 2.0259% Mon 21 0.9016% Tue 22 1.1536% Wed 23 0.2460% Thu 24 0.1338% Fri 25 ----------

Two titans of the forex robot trading industry are squaring off in the search for higher profits.In the green corner we have BREAD (Basic Robot Earning All Day) with consistent earnings of approximately 1.2% per day. In the other green corner we have the relatively new ARTFAB (A Rising Tide Floats All Boats) with very promising early results. Already today ARTFAB has locked in over 3.0%

The AUDJPY has done a whole lot of nothing for the last few days.Can you blame it? It must be tired after the recent climb.More seriously, with the RBA considering whether to raise rates another 25 or perhaps even 50 basis points, I don't expect any type of calamitous drop.I think we might see a drop down to 83.00 again but if it does stop in that region I'd consider the range between there and

The AUDJPY has been on an upward trajectory for a while now.There is no telling, at least not in advance, whether we'll see more massive upward movement due to hawkish statements from the RBA or not.However, here is a 3hr chart showing recent movements:Obviously, clear support and resistance helps identify some lower risk entry points.

I'm starting to get more than a little cautious about the stellar increase in the AUDJPY over the last several days.While it's true that markets can continue to move higher or lower for long periods of time it's important not to get too caught up in recent events. In fact, though we all react to these things at different rates, you can consider it a warning whenever there is something to get

My last post focused on a short term channel.This time I'm looking at a longer term trend -- though still on the 1hr AUDJPY chart. This one looks like it might be a bull flag.It's always hard to tell. However, with future interest rate hikes expected, it's likely we'll continue our upward movement if signs of an Australian recovery remain strong.Here's the chart:Play safe.UPDATE: It's 7:00am