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USD/JPY Discussion

Quoting hussin naiji
{quote} i have sold @ 135.42 with real 3 lots(no S/L no T/P) I am waiting for fall But we have not seen it yet 137.20 Let's see
https://www.cnbc.com/2022/06/28/new-...base-case.html

Quote
New York Federal Reserve President John Williams said Tuesday he expects the U.S. economy to avoid recession even as he sees the need for significantly higher interest rates to control inflation.
“A recession is not my base case right now,” Williams told CNBC’s Steve Liesman during a live “Squawk Box” interview. “I think the economy is strong. Clearly financial conditions have tightened and I’m expecting growth to slow this year quite a bit relative to what we had last year.”

So, there is no data yet to support that a recession is in the U.S. or is coming soon, which should keep USD/JPY elevated. Maybe there is already a recession in the EU zone, which should result in EUR/JPY selling.
don't believe in mumbo jumbo from gurus & charlatans
Quoting ForexGoose
{quote} Fibonacci and fractals result in bankruptcy
maybe you have not used it the way it is supposed to be used but then everyone has their own opinion. as mentioned before there is no right or wrong in forex.. all that matters is making money against the banks and hedge funds. fibs fractals and EW has helped me a lot.
STING
Quoting hussin naiji
{quote} i have sold @ 135.42 with real 3 lots(no S/L no T/P) I am waiting for fall But we have not seen it yet 137.20 Let's see
Yes you could be right . on weekly we can see a good divergence forming on RSI. it could go down for a 1000 pip to 126 for a correction. but there is still a 100 pip to the upside... why lose that :-)
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STING
On that note this is my DXY chart that i am following, this is purely technical speculation, so i know the fundamental geeks will have a problem.

I have a green on my accelator and waiting for a green bar on awesome.. plus 38.2 fibs (although early to tell ) as we could have a down move to complete correction some more. 107.35 looks like a good target for dollar index... after that we all know there will a abyss in the dollar to control all other factors happening in the world today as higher dollar is a big problem for the rest of the world.
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STING
I've opened short position at 136.25. Perhaps there'll be a new top at 136.40 but i know that bears will participate now. My first support is 135.90, second 135.67 and third 135.20.
Looking the H4 chart i'm considering the possibility that the downtrend 'll be short. After that we'll see a new bullrun till 137. Just thinking while i follow my short position.
Quoting ForexGoose
{quote} Fibonacci and fractals result in bankruptcy

... and yet here I sit fully solvent. Focus on your style of trading my friend. Just because you can't figure out a system and it doesn't work for you doesn't make it wrong. Look inward first in all faults.
When you feel like you HAVE to trade is when you least should!
Quoting hussin naiji
{quote} Hi F this is a good question but my answer : weekly candlestick pattern with high reliability overbought high price with Twenty years ago Waiting for intervention BOJ Change the trend 10-year bonds Public expectations for the onset of a stagflation crisis
Brother... This is Forex. There is no such thing as "Overbought". That is a term for stocks.
When you feel like you HAVE to trade is when you least should!
Quoting OBsayMkMoney
{quote} ... and yet here I sit fully solvent. Focus on your style of trading my friend. Just because you can't figure out a system and it doesn't work for you doesn't make it wrong. Look inward first in all faults.
following Fibonacci or fractal trading strategies guarantees a loss

how many accounts have you lost?
don't believe in mumbo jumbo from gurus & charlatans
Quoting OBsayMkMoney
{quote} Brother... This is Forex. There is no such thing as "Overbought". That is a term for stocks.
Yes, USD/JPY is bully, try to find bottom to buy is winning skill.

In my view, USD/JPY already the simple instrument to trade.
Even, you don't use any indicator, just break trend line, you can trade well on 1mins, 30mins or Day chart.

Here is 1 min chart with break trend line reverse, best and easy.
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Quoting stringfx
On that note this is my DXY chart that i am following, this is purely technical speculation, so i know the fundamental geeks will have a problem. I have a green on my accelator and waiting for a green bar on awesome.. plus 38.2 fibs (although early to tell ) as we could have a down move to complete correction some more. 107.35 looks like a good target for dollar index... after that we all know there will a abyss in the dollar to control all other factors happening in the world today as higher dollar is a big problem for the rest of the world. {image}...

I got a green bar on awesome today. Now to wait until end of day to see if the bar will remain, if it does, i will sell gbp/usd, nzd/usd and buy usd/jpy a whole lot.
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STING
Quoting ForexGoose
{quote} maybe today {image}
above 137.2, there could be a big bull higher to 140.1 quickly
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don't believe in mumbo jumbo from gurus & charlatans
I've colsed my short at 135.99. Now, short again at 136.91. My tp at 135.80.
I've closed my short position 136.52. Incredible with the yen but i look it very bullish yet.
Quoting jag1969
I've closed my short position 136.52. Incredible with the yen but i look it very bullish yet.
Normally, I would say the correct play is to just ride the trend but the anti-trend play here is so enticing due to the possible intervention or pivot by the BOJ. I will take a short here at 136.55. SL at 145. Targeting 116. Risking about $17k.
Quoting sixth sense
{quote} Normally, I would say the correct play is to just ride the trend but the anti-trend play here is so enticing due to the possible intervention or pivot by the BOJ. I will take a short here at 136.55. SL at 145. Targeting 116. Risking about $17k.
ouch

I just ride the trend.
don't believe in mumbo jumbo from gurus & charlatans
Quoting sixth sense
{quote} Normally, I would say the correct play is to just ride the trend but the anti-trend play here is so enticing due to the possible intervention or pivot by the BOJ. I will take a short here at 136.55. SL at 145. Targeting 116. Risking about $17k.
I've opened a short position at 136.60 but with tp at 136.30. It's not clear for me.
My tp. closed my short. Now i've opened long position at 136.20, tp 136.80. Frecuently usdjpy and eurusd are linked by an opposite correlation. The eurusd seems really bearish.
now 135.xxx ooopss!
USDJPY price action on the daily time frame is in a rising wedge (magenta) but presently sideways as it tackles the 135.310/137.360 multi-year horizontal resistance zone (purple) seen on the monthly time frame. As price action is losing bullish impetus, we may see a bearish pullback before a northward continuation.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
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