USD/JPY Discussion

USDJPY is trading above the support level 110.925 and forms a down flag pattern in a technical 4-hour chart. I expect the bullish momentum for next trading hours, pair would face hurdle at first resistance level 111.221 and if it sustains above this level, then it will face second resistance at 111.344. Further mounting pressure will force the pair to climb till level of 111.690 after breaching of third resistance at 111.503. A solid breakout of pattern will make the pair to attain a height of 112.023

If it crosses the support level, then it could get second support at 110.797 and may witness a fall till level of 110.579 after sustenance below third support at 110.693

113.40 looks good to take a short.

If this doesnt say bullishness, I dont know what does. 4 daily large wicks. Wowza

I posted this (now updated) a few days ago:-

Suntrader, very nice,

Friends weekly, here.

Trend break we have, golf pin formation. Breaks this, look out. 120 maybe, in 3 months time.

These trendlines are based on a very powerful algorithm he's developed. He's a mathematician, very smart, he won't share this code with anyone, just the charts.

edit: Lower chart, here is recent 1 hour, the undertrend line just formed, so watch for possible bounce here first.

Did somebody say math?

Bearish for the next week. Good opportunity for long at 109.80.

Long from 110.95. Hope to see today 111.20-30 and next week 111.50-85.

Candle color. First line green candle touches, go long. First line red candle touches go short. Nothing else necessary.

Just got banned from the EUR/USD thread by Ata-Turkoglu, with no warnings, just for making a couple of light hearted jokes. In Trading you need to grow a thick skin or you will be obliterated by your emotions. Ata-Turky is a very weak, childish, unreasonable person , who could of at least give me a warning as i did not know the rules.
It will be the loss to him and all his members, as i was posting some good swing trades that come with 13 years experience.

Interesting.......Perhaps the golf pin might signify something more sinister coming up for the bears on the daily chart

Buying UJ and holding it is giving good money on swaps as of now....tempting it is then going short Nice H&S pattern formed on H4 timeframe. But again with Trumpie tweets I dont know !!

In my point of view, the USD / JPY has lost a lot of strength. The daily chart points to a drop in the next two weeks. If there are no surprises .......

I recently started on the Forex market and study the market as well as the charts.

Recently I made an overlay of the RSI directive on the chart and the result I found interesting. Please, see what you think.

Not gonna lie, you post these charts and I think I speak for many, I have no idea what Im looking at other then 9 green FOMC lines, 6 Red FOMC lines, 6 Blue FOMC lines, 3 Black FOMC lines.

It would be really cool if you could explain your system, cuz even when you write " First line green candle touches , go long" - Im not sure what you mean?
Can you be a bit more specific, cuz at this point Im speculating what you mean but when we assume we all know what that means.

Closed longs. Looks like this week USD/JPY wasn't on my side, but good that get a little profit from all swings. Next week will take free from forex as new leverage for EU (1:30) will be applied.

Yep, same here on Usd/jpy longs, I got stopped out but I still see very strong support her but I want to see some closes above 111.40 for upside.

I just updated my spreadsheet with today's TOC data.
Well, for weeks they were already giving the side boxes, and with today's update came the first red arrow indicating sale.

I think it's time to abandon the longs and go to the shorts.

Thanks everyone for all the great interpretations, I've enjoyed perusing page 3874 immensely. Here's my 2 cents. I am happy to go long or short, I really don't care, but I can't shake the sneaky feeling that the bullish weekly breakout candle which has now had significant retracement, was in fact a bull trap on a weekly scale . I think there's a chance we're heading to 110.2 then maybe further south. I am very happy to be proved wrong, but it's always wise to consider all options. I consider 4 a special number ie on a 5min chart if a price fails to break through after 4 candles and then there's a complete candle in opposite direction then I have a trigger to trade in the new direction. Taking this to daily chart, the long daily tails have not necessarily rejected lower price, just tested it. It has failed to get back above 111.2. On the bulls side Fridays tail closed higher than Thursdays which definitely could be bullish. There's 2 days of the month yet, if there fails to be significant upward movement Monday, prepare for a bear brawl Tuesday.. maybe.. I will be trading Monday and if longs are triggered then I will buy naturally, but i think Mon/Tue could possibly be hectic.

Overbought on the higher time frames but then again I don't think we will see any big moves until Sept.