USD/JPY Discussion

does anyones has this 8 bars open and closing at 111.308/111.309 ....consecutive, right where last push down happened?

So in other words ... you have watched them and can't sum them up.

BTW I've seen them long ago and read a couple of his books and yes they are good. But there are also not the complete picture.

I got stopped out. I'm trading 2 lots each trade atm and the reason I've been going a lot better is a tight SL. Everyone has their own method. I had a rough day overtrading friday though and missed the big move, but still finished profit for the week but only a quarter of what I was sitting on Friday am. Friday was a frustrating crap trade day for me. I did better yesterday. Glad you got a good trade.
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I've traded well today, and taken some nice profits. I try and leave a trade to hopefully get some amazing bonus pips. Here is today's attempt. It struggled so hard to get above 11.320 I hope its the start of something now it's broken up. It's a 3 lot trade so not currently happy with the SL, pondering that. I had 2 trades at the same time, they were extras for the day after I thought I'd call it a day. I TP of $150 on the first, considering having that $150 ish as the SL for this trade. Maybe $200 ish around 111.245. It's the lucky bonus trades that can make a week cracking. That's an hour chart, hoping that's a hammer and the only way for the next 4 hours at least is up
NB It's hit 111.410 and I have tightened SL to -$80.
NB TP at 111.437. $500 bonus trade was too tasty not to TP at 50SMA on hr chart. Good Night, good luck.

3ill

Don't think So It will break, hope it to hover around 111-113 levels for a month.Doji formation is also there it will retrace till 112-112.50

Despite recent rumours that the Bank of Japan (BoJ) was planning to make its monetary policy more sustainable the majority of analysts maintain their view that the central bank will keep everything on hold at its meeting next week, according to a poll. I would principally share this view. However, it now seems as if the BoJ would be unable to maintain the current monetary policy strategy forever. On the one hand the recently disappointing inflation trend suggests that it would have to further ease its monetary policy or at least maintain current levels of expansionary policy. On the other hand the concerns amongst central bank members about the sustainability of the monetary policy are obviously on the increase – in particular as far as the effects of the ultra-expansionary approach on the banking sector are concerned. After all, the BoJ not only introduced the strategy of controlling the yield curve so as to be able to reduce its asset purchases but also in an effort to steepen the yield curve, thus reducing the margin pressure for the banks. I for my part cannot think of a solution that would enable the BoJ to solve both problems at once. This became clear again yesterday: as soon as speculation arises that the BoJ might further steepen the yield curve by raising the yield target at the long end JPY of course appreciates. The BoJ can try and sell this adjustment whichever way it wants the only thing that counts for the market in the end is that yields are rising. The stronger yen then puts additional pressure on prices so that the BoJ’s inflation target becomes even less obtainable. If however, it sticks to its current interest rate levels to fuel inflation this could threaten financial stability – as some BoJ representatives seem to fear. The way things stand the BoJ seems to have to choose between price and financial stability, so that JPY too is approaching a turning point.

Opened long at 111.20 with TP 111.97, SL 110.70.

Early we might be, but many bullish things happening. Looking at the following;

HTF Trend Break and hold, sort of a bounce
LTF Trend Break
Possible W patter trying to form
We also have positive volume accumulation

4 Hour chart: shows the bounce off the bullish trend, 2 large wicks.

whats going on star wars bar crew....

maybe if the lows hold we go up a tad, 111.70 looks like a place that I wouldn't mind loosing a few pips on some shorts....

Currently the pair is consolidating aorun 61.8% Fibonacci retracement od its latest bullish run and according to technical indicators on h4 the chances for steeper advance are limited. The upside is still capped by 111.45 where the 100-day SMA is developing while the donwside remains supported by the 110.80 – 110.70 zone.

Yeh, so much support around 110.75 area, its hard to see that being broken in these thin holiday markets. upside may be slow and laborious but it could get up there eventually. One of those trades where you need to just hold and forget and a week or two it could be up there. Not sure where you have your fibb but I have price has hit a 78.6 and hovering above.

It's managed to open a candle above the 50SMA on 1hr chart. If it can hold above 111.250 that would be sweet. It wants to go up but struggling big time.
NB 03:00 volume has pushed it up. Hope it can hold
NB 111.300 next resistance. My TL was a bit off. Maybe TP there will see how it reacts
NB 03:14, 5min bearish engulfing full retracement, followed by bullish push back up to 111.305. Too much for me I closed all 3 trades at 111.305
NB If it fails to go above 111.305 after 20 min ( 4 5min candles) I will be forced to short instead

Righto enough morning longs, enter the shorts. Maybe heading to 110. ????
NB Ah Forex, what a hectic game. Fortunately I had good SL when the 5min hammer formed. Saw my $600 profit get taken out for $50 but a profit is a profit.
I'll go away now but yes I did turn my trade back to longs. lol.
NB Stopped out on my longs too. Grrrr. Still got a nice profit for the day and being strict with BE rules has helped me immensely. Previously I would be down $2k by now. Trading larger but trading smarter is much better for me. I should probably walk away for the day.

Have faith, you must! Train yourself to let go of everything you fear to lose.

Previous divergences were successful in D1. Is this current one going to be successful, too?

I am long U/J..

Trend on H4, SL not far

I'm still watching. Maybe I should've painted the lounge room so I could've had something exciting to do like watch paint dry. Doesn't want up, Doesn't want down...

Yes, if you trade in 4H or 1D timeframe, this happens. I had open new long at 111.08 (SL at BE) and today closed long at 111.22. Let's see what happens next - up or down... If down, new longs only at 110.85 with SL at 110.70 with same TP 111.97 or maybe earlier...

Closed with tiny loss..

Good question?

Many others would post something like that and say it will be successful.

You worded it right by asking ... going to be successful?

Although it already has moved down somewhat and is right around former resistance that turned to support, longer term (beyond what my trades typically last) I'm leaning bearish but in the meantime expect a bounce here at support.