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kuroro001 Feb 19, 2020 12:02pm | Post# 82301

Could somebody explain the breakout that happened today ?? I can't see any solid reasons for such big move!!

It was to squeeze your shorts

skumix Feb 19, 2020 12:22pm | Post# 82302

{quote} It was to squeeze your shorts
Come on, really now... It's quite big ... Just taking out retail shorts, It doesn't seem to be a good reason...

Fadhl Feb 19, 2020 12:44pm | Post# 82303

Could somebody explain the breakout that happened today ?? I can't see any solid reasons for such big move!!
Japan is for long time in comatose economically and BOJ continues to support via printing money. Lastly, fundamental data was even negative. With COVID-19, Japan could be next in terms of pandemic with Hong-Kong and Singapore. Hence YEN is not seen as a heaven currency for this risk and money is flying to US Equities. By the way, Dollar is the only currency standing up; other others are crushing. Hope it helps.

drakoczy Feb 19, 2020 2:42pm | Post# 82304

Market is insane this month. First the EUR/USD, now this...
So glad I stayed away.

arasheed Feb 19, 2020 2:49pm | Post# 82305

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Here's me attempting to hit the head of USDJPY.. well, hope I don't get hit first but considering my height, I should survive .. My exit would be a daily close above 110.082. Major entry that I will be more comfortable with will be a close below 109.381.. Target? that will depend on how much I am content with but overall target is at MTL. Stay Well {image}
Now the JPY has slided and Usd Jpy has soared to 111.466[attach]uSDjPY
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OnlineAddict Feb 19, 2020 2:54pm | Post# 82306

{quote} Come on, really now... It's quite big ... Just taking out retail shorts, It doesn't seem to be a good reason...
Not just small retailers...even most hedge funds are "dumb money". If you follow the news a little...its "Hedge fund blew 10 billion on...", "Fund manager blew 50 billion on...", etc.

skumix Feb 19, 2020 4:02pm | Post# 82307

{quote} Japan is for long time in comatose economically and BOJ continues to support via printing money. Lastly, fundamental data was even negative. With COVID-19, Japan could be next in terms of pandemic with Hong-Kong and Singapore. Hence YEN is not seen as a heaven currency for this risk and money is flying to US Equities. By the way, Dollar is the only currency standing up; other others are crushing. Hope it helps.
While this is true, and sounds logical, I can't understand the timing and the scale of the move. Covid-19 is not yesterday news, and neither US has amune to it. Also BOJ is printing money a lot time now. No big fundemental news today as well... So why so short term and violent move... That's something I scratch my head all day...

OnlineAddict Feb 19, 2020 4:05pm | Post# 82308

{quote} While this is true, and sounds logical, I can't understand the timing and the scale of the move. Covid-19 is not yesterday news, and neither US has amune to it. Also BOJ is printing money a lot time now. No big fundemental news today as well... So why so short term and violent move... That's something I scratch my head all day...
Too many shorts were accumulated below 110...people kept shorting between 109-110 for weeks...it almost seemed too easy. Thats why I said that next time we break 110, it may spike further above 111, simply because the amount of dumb money in the short trades.

skumix Feb 19, 2020 4:13pm | Post# 82309

{quote} Too many shorts were accumulated below 110...people kept shorting between 109-110 for weeks...it almost seemed too easy. Thats why I said that next time we break 110, it may spike further above 111, simply because the amount of dumb money in the short trades.
Ok sounds good, but how do you know the amount of shorts that where accumulated? Where do you get this information if I may ask ?

OnlineAddict Feb 19, 2020 4:16pm | Post# 82310

{quote} Ok sounds good, but how do you know the amount of shorts that where accumulated? Where do you get this information if I may ask ?
Myfxbook, oanda and pretty much every broker is posting sentiment numbers. Plus, you get an idea here, too, by just following people and what they trade. Then articles posted here and so called analysts(failed traders). All combined.

And, when there is a very tight range for days...mostly its calm before the storm...and the move won't go in favor of most.

Fadhl Feb 19, 2020 4:18pm | Post# 82311

{quote} While this is true, and sounds logical, I can't understand the timing and the scale of the move. Covid-19 is not yesterday news, and neither US has amune to it. Also BOJ is printing money a lot time now. No big fundemental news today as well... So why so short term and violent move... That's something I scratch my head all day...
Why is today? All currencies are/will have their tour against USD. This week, we got EU, today UJ and GU and may be tonight AU & NU and tomorrow UC. In addition, quarterly GDP was negative on Sunday. GL!

krst8 Feb 19, 2020 7:41pm | Post# 82312

{quote} Ok sounds good, but how do you know the amount of shorts that where accumulated? Where do you get this information if I may ask ?
sometimes i guess a why can not be given but onlineaddict have been with this view for some time, that 110 was a false top support.. hope he made some ling profits today! ... agree an interesting move today... made a short scalp after fomc news with a tight manual stop, so now out. May have exit the short early, but wary of a bullish continuation today.... took early profit at 0.23 fib

drakoczy Feb 20, 2020 2:33am | Post# 82313

{quote} Myfxbook, oanda and pretty much every broker is posting sentiment numbers. Plus, you get an idea here, too, by just following people and what they trade. Then articles posted here and so called analysts(failed traders). All combined. And, when there is a very tight range for days...mostly its calm before the storm...and the move won't go in favor of most.
I'm following sentiment very closely, but to me this breakout was absolutely unexpected. I cannot explain from technical or fundamental point of view either.
I guess it's another "deus ex machina". Happens every now and then.

hellsbells Feb 20, 2020 5:02am | Post# 82314

Oh if only I'd held onto me longs me longs if only I'd held onto my longs....

goldcartel Feb 20, 2020 9:30am | Post# 82315

Has reached the target at 112 zones. It was a nice swing, can't complain.

Chart before. February 18, 2020
https://www.tradingview.com/x/UYyDkFQh/

Chart after. Current Market price chart, February 20, 2020
https://www.tradingview.com/x/Nqarpf5g/

Feel free to contact me if you have any questions. Telegram: @Gold_Cartel , or you can join my Telegram free channel https://t.me/goldcartel

teddybomber Feb 20, 2020 9:48am | Post# 82316

I was waiting for this move for a couple months, been holding massive longs. The fundamentals have been predicting this for some time. Japan keeps stagnating or even negatively growing, while the US is experiencing a strong period of growth that has been ongoing for over a decade now. I won't be surprised if it moves to 115 to 120 by year end if the US economy remains robust.

Amir_Forex Feb 20, 2020 12:47pm | Post# 82317

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Amir_Forex Feb 20, 2020 1:18pm | Post# 82318

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krst8 Feb 20, 2020 1:46pm | Post# 82319

{quote} . . . {image} {image} {image}
any idea for a reversal point or are you short here for the long time?

Amir_Forex Feb 20, 2020 1:59pm | Post# 82320

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{quote} any idea for a reversal point or are you short here for the long time?
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