I am a dollar bull on this pair, but it looks like this move is running out of puff for now. Depending on FOMC later, I would expect to see a pullback to 113.40 before it decides which direction to shoot off in.

It looks like it's on a pretty bullish tear, to me. Where is your stop? It looks like 149.75 will be tested.

The trade is obviously against you at the moment (which is fine, as long as you're still within your pre-defined risk area), but if the set up has changed according to your rules - do you still want to hold the position? Something to consider.

I don't see why not, there is strong bullish price action today. Price has just climbed back above the 50 SMA. I see no reason for it not to push another 12 pips. It might even make it to 113.50. Do you have an open position you are managing? EDIT - ...

113.00 has become important resistance over the past week. If 113.00 breaks, I think it goes down to 112.55. If not, it's coiling up to spring for a test of 114.00+.

I’ve closed my positions for now, waiting for the results and reactions to the midterms and then I’ll be back on board.

My bias is still in play. Looking for a move up to 114.50, eventually.

On H4 it's still looking like HH/HL, to me. Of course, once the midterm results are out, this thing could go anywhere. EDIT - short term, it'd need to break 113.10 for me to change my bullish bias.

I'm aware that I sound like a broken record, but all I'm seeing at the moment are higher highs, higher lows and higher closes. The only way I'd take a short right now is if I was trying to guess what the market is going to do next. All of the ...

I'm still bullish here. Price has broken out of my consolidation box and is now sat just nicely above a resistance level that I had drawn on the daily chart. I'm looking for a bullish breakout, to ride to 114.50.

This is what I'm looking at, at the moment. Waiting for price to break out of the box and then looking for price action to confirm the direction.

I'm on the sidelines and looking forward to seeing what price does when it gets to 1.1455. My charts says it will bounce between 1.1455 and 1.1430, to draw as many positions in as possible, before making its mind up on direction. On the basis I ...

This is correct/fact.

I don't hold a position at the moment, but I think USDJPY is winding up to move up. I think it was Geppy who said yesterday that it's normal for the market to breathe, which is what it seems to be doing, and it only seems to have really impacted the ...

112.90 is fairly decent support on H4.

Shake out, or change in momentum/direction?

To offer a contrarian, but uncomplicated, view -- The daily chart is making higher highs and higher lows. For that reason solely, I'm staying long.

Acknowledging how strong yesterday's daily candle was, and that it broke through short term resistance, I think a sell off would have to be news related (which is yet to be known). I can't see that such momentum can turn in a day, but I guess that's ...

I'm looking for price to break 112.46 to the upside for this bullish formation to continue. Otherwise I'm looking for short trades below 111.96.

To my eyes, it is still making higher highs and lower lows, but they are not exactly convincing - but it is still forming a bullish structure. Bearish rejection at 112.10? Time will tell.