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USD/JPY Trading Room 34 replies

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EUR/JPY Trading Room

Quoting Taigen
It is. That's why I call it a test pip. I got stopped out but the M4 pivot show 106.96 and the 38.2 Fib ratio shows 106.92 so will hang tough and see if it goes that direction. The graph shows that we are in consolidation and it's slow so will wait it out for direction. If I was on the top end of the BB, I would have had 40 or 100 pip stop depending. The daily chart shows the PA is right smack dab in the middle so it is a gamble to position. That's why I made it tight...
All currencies have started to lose its strength of going long. The matter is related to elections now not to technical analysis. It might go up for a while but the reversal and going short is coming, coming, coming.....
Quoting gentlelove30
All currencies have started to lose its strength of going long. The matter is related to elections now not to technical analysis. It might go up for a while but the reversal and going short is coming, coming, coming.....
That's what stop losses are for. We are in a consolidation pattern right now & it all a waiting game at this point.
It works till it doesn't
Not expecting any big movement this few days but it just happens that news from the EU/USD did trigger a bit of movement. Election this 16 will play a big part in deciding which direction to go!
Quoting FxLapozi
Not expecting any big movement this few days but it just happens that news from the EU/USD did trigger a bit of movement. Election this 16 will play a big part in deciding which direction to go!
It works till it doesn't
Good evening everyone. I am new to FF. Also new EUR/JPY... Maybe we can all work together and help one another on this wonderful pair. I'm a scalper with 11 years of forex experience. I have also created a trade explorer account in which you can see the trades which I've placed on EUR/JPY I would be more then happy to go over those trades with everyone.
Quoting OutscalpMe
Good evening everyone. I am new to FF. Also new EUR/JPY... Maybe we can all work together and help one another on this wonderful pair. I'm a scalper with 11 years of forex experience. I have also created a trade explorer account in which you can see the trades which I've placed on EUR/JPY I would be more then happy to go over those trades with everyone.
Mr. Scalper
What are your expectations for the YEN with other currencies including EUR?
Quoting gentlelove30
Mr. Scalper
What are your expectations for the YEN with other currencies including EUR?
Market sentiment was way to bearish as of last week. What people thought was a TREND REVERSAL (to the short side) ended up being a CORRECTION. I honestly don't use those words at all, only because I look for specific formations and take my position. Yet the reality is we have traded in more then a 10 dollar range since JULY. Every time we begin to pull back we end up breaking newer monthly highs. Although this is by far the most volatile currency pair. The reality is INVESTORS should be earning greatly by trading it.
North until nex week
Quoting FxLapozi
North until nex week
hopefully longer
It works till it doesn't
Holding longs despite opening few scalp of shorts earlier. Targeting 112 but realistically, 110.50 seems more likely
Opened another short term long.

Reason: Consolidating and the sudden spike of news means an upward movement is possible. Taking a risk here. But BE now. Targeting 110 Will close earlier before end of the day.

Could have closed with +15 pips earlier but chose not to. Hope it didnt come back and bite me.
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Update:

SL: 5pips locked

TP at 90 or maybe let it run til end of the day.

P.S: CLose trades by end of the day because election looming
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Glad I closed with +25 out of 36 pips.

Now it's heading south for I-don't-know-what-effing reason!
Quoting FxLapozi
Glad I closed with +25 out of 36 pips.

Now it's heading south for I-don't-know-what-effing reason!
Its Friday and with a pretty strong run over the past 4 odds weeks with gains of close to 1000 pips its likely to be some profit taking and position protection. If your short, your loving it.
Quoting Razor_trader
Its Friday and with a pretty strong run over the past 4 odds weeks with gains of close to 1000 pips its likely to be some profit taking and position protection. If your short, your loving it.
Haha, I only trade what I see. The consolidation part means a big movement up or down. With election in 2 days, and it's friday, dare not to open a short.

Better safe than sorry anyway
I'm short from 109.36. I think all the yen crosses are extremely ripe for a pullback into the close today. As others have said, the yen has been getting hammered the past few weeks and I think it's highly likely to see profit taking today to avoid the event risk of the election on Sunday.
Quoting given2fly
I'm short from 109.36. I think all the yen crosses are extremely ripe for a pullback into the close today. As others have said, the yen has been getting hammered the past few weeks and I think it's highly likely to see profit taking today to avoid the event risk of the election on Sunday.
If your short it should be based on a breakout and pullback entry with scalper mentality. Don't want to get to the party too late on a day that is only showing some minor direction. As Lapozi stated, JPY election on the 16th so expect some fireworks on Monday. JPY is still keen to continue weaking its currency to provide exporters with some relief. Short sides to beware at this stage.
Quoting given2fly
I'm short from 109.36. I think all the yen crosses are extremely ripe for a pullback into the close today. As others have said, the yen has been getting hammered the past few weeks and I think it's highly likely to see profit taking today to avoid the event risk of the election on Sunday.
That's pretty late entry. Use tight SL for good.
Quoting Razor_trader
If your short it should be based on a breakout and pullback entry with scalper mentality. Don't want to get to the party too late on a day that is only showing some minor direction. As Lapozi stated, JPY election on the 16th so expect some fireworks on Monday. JPY is still keen to continue weaking its currency to provide exporters with some relief. Short sides to beware at this stage.
Im short from .51, target is 108.70 area which i dont think is out of the question. Whilst I am weary, I have already taken 1/3 off 109.20, SL is priced at B/E. My thoughts are still in line with the run up and the fact that whilst price may be set for the election, alot of traders will not want to take heavy positions into a possible gap monday across JPY pairs. If south momentum builds then sub 109 is not out of the question but I am easy being in a free op and I have a USD/JPY short from earlier today that is already been partially closed.
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