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Closed my position for the weekend

My EurAud long position did not move today
I decided to close before the weekend (leverage)
I ended up down about 35K this week, but I am still alive
Eur has gone up about 100 pips, while UsdJpy has lost about 200 pips
Next week will be interesting - I think Eur will go stronger
but it may not happen in a rush
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USD/JPY closing the year near the highs

Monthly chart:
Price is trending up towards strong resistance zone:
1. Trendline that contained the long-term downtrend in years 1986, 1990, 1998.
2. 23.6% retracement of November 1982 to October 2011 decline.
3. 2007 high at 124.14.
On the downside, the first major support is 200 month SMA at 106 and then 105 level.
Weekly chart:
As price is getting closer to 120 level, the momentum is somewhat weakening. The previous week's range bar clearly demonstrated indecision, but that was likely just a…
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al_dcdemo avatar
al_dcdemo 6 Дек.

Update1: The USD/JPY train continues its journey to the North. If it continues with this pace, it could easily reach the monthly resistance cluster (123-124) or even 125 by the end of the year. All three analyses - technical, fundamental and sentimental - support the rally. The only counter-argument is that the market is overbought and year-end is near and possibility of a correction is rising. If the correction indeed materializes, my prediction target of 120.01 will again come in focus.

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al_dcdemo 13 Дек.

Update 2: We had quite decent (400 pip) pullback this week, but the lower tail on weekly candle indicates that the bulls won't give up just yet. There is also Japanese lower house election on Sunday, so understandably there was some profit taking present. We will have to wait till Monday to see whether this was really just a pullback or a start of a larger correction.

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al_dcdemo 20 Дек.

Update 3: It appears that last week's decline was just a normal correction. Of course we won't know that for sure until the price breaks and continues to trade above the December 8 high, but given that nothing has changed and Abe remains in charge, that is the most probable scenario. But it may not happen this year as the pair will likely just consolidate around current levels till year-end.

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al_dcdemo 27 Дек.

Update 4: Despite the consolidative nature of the week, the pair managed to re-take 120 and close the week above it. It seems that uptrend continuation and new multi year highs are just around the corner, but that probably won't happen until after the next week, which is expected to be range-bound.

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al_dcdemo 1 Янв.

Update 5: The pair didn't manage to close the year above 120 but, nevertheless, the rally from July 2014 was impressive and there's prevailing sentiment that the Yen's decline is far from being over. Looking at the long term chart and 1982 high of 278, the potential is immense. The distance just to 38.2% retracement of the 1982 - 2011 decline, which is just above 150 level, is almost 35K pips.

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Take profit GBP USD

Take profit
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Close Orders strategy

Dear traders,Please, take a look at new strategy "Close Orders" in Dukascopy JStoreStrategy closes orders at specified GMT time for particular instrument or all instruments if not set. It checks opened orders every minute. If all orders are closed or time is over, then strategy will be stopped.Thanks.
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