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USD/JPY Discussion

Wow. What a bloodbath.
Nice bear pennant pattern forming on USDJPY 15m.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM15.png Size: 151 KB
I see the triangle as well. It should explode out of that short for a new low. Do you feel this pair is done running short? It is awfuly oversold at this point.
Yes, imo, it is pausing before a price decline.

Reference for bear pennant pattern: http://stockcharts.com/school/doku.p...t_continuation
Quote
Nice bear pennant pattern forming on USDJPY 15m.

Price is being to go down. USDJPY 15m, I expect the decline to intensify shortly.
Quoting notsocasual
Hi there skyhok. Given the above image and count, doesn't this force a recount of the pair, as least as labels go? That retracement was far deeper than I anticipated. Technically, the move can go far shorter before it enters into the primary wave 2's territory, but that's really far away. Did you post an updated count to this forum after the strong move down? Thanks! (I was long and was stopped out. My long trade was a smaller internal retracement long. Such is life...damnit.)
Just notice your post. While most other JPY pairs are poised for a final pushup, USDJPY is labeled as such.
Present PA is very unstable, I rather wait for this correction 4 to complete at the top and sell with some certainty.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1 3Feb16.png Size: 39 KB
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Quote
Nice bear pennant pattern forming on USDJPY 15m.

Not seeing much tick volume to support the USDJPY 15m bear pennant breakout. Closed short for average 18 pips . Watching now possible reentry short.
The area 117,50 it's a strong support area. I?ll be very cautious to get in a short right now.
we are as low as january 2015.
yes, the mid day volume is puke right now. and that floor you mentioned is a tough one. i took quite a bath today on this pair. live and learn. my take profit and stop loss did not trigger for some reason so a $400 gain last night turned into a $1600 loss. time to study up and recover that loss!
Quoting notsocasual
yes, the mid day volume is puke right now. and that floor you mentioned is a tough one. i took quite a bath today on this pair. live and learn. my take profit and stop loss did not trigger for some reason so a $400 gain last night turned into a $1600 loss. time to study up and recover that loss!
I took 120.30 short till 118.38 got out.
What's your enter/exit strategy?
Quote
Watching now possible reentry short.

Waiting for pullback to 117.345 for possible reentry short.
Looking to buy at around 116.70/80 for a retracement up to at least 119.3 before going in short again
Good Morning !

Today's S/R Levels on MT4 Templates

EURO
CABLE

USDJPY
DAX

http://www.forexfactory.com/showthre...84#post8731284

EURO PINK
DAX PINK
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If the price fall below demand zone, then a correction can take place within major Monthly trend. Already in with locked profits :

Attached Image (click to enlarge)
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Money moves the market, not an indicator.
Энэ хүрнэ гэвэл яаж байна?
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 25 KB
116.00, will it hold??
Attached Image (click to enlarge)
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Original Idea
https://www.tradingview.com/chart/US...5-Oil-Oil-Oil/
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The nfp will be around 220-250 K today...Tandem with Adp which released 2 days ago...Forecasters who predict under 200K (consensus 190K) are underestimating the powerhouse Usa...Usd/Jpy pair will jump above 120 in a few sessions (maybe today !)...This year the pair will head to north around 140 by year end.
Quoting yentrader07
The nfp will be around 220-250 K today...Tandem with Adp which released 2 days ago...Forecasters who predict under 200K (consensus 190K) are underestimating the powerhouse Usa...Usd/Jpy pair will jump above 120 in a few sessions (maybe today !)...This year the pair will head to north around 140 by year end.
Whatever you're drinking, I want some....
Carbon-Dioxide: the gas of life!
Lately this pair is out of control it seems...
Could someone kindly explain to me whats happened?
NFP was worst than expeteced... and yet U/J is going north? Is it for a retest area 119?

Thank you all
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