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USD/JPY Discussion

Quoting ChiForex
This is a long term sell and forget level. Reminds me of 80 level with lots of BOJ interventions at that time and see where we are today Only idiots of speculators buy at current price levels!
And profit still running from 150, no support before 125 and then still lower....
Investors think long term safe profits, gamblers think short term scalping.
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
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If breaks 127.4, expect much lower and quick. be careful with longs. Did this exact patter in late 2018,
Learn, a forex trader must, unlearn and relearn he will.
Bought from 130, target is 131+
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
Quoting ForexGoose
Bought from 130, target is 131+
adjusted stop loss to break-even
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
Quoting ForexGoose
{quote} adjusted stop loss to break-even
stopped out with minor profit, bulls are not yet ready to exceed 130 it seems
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
Quoting ForexGoose
{quote} stopped out with minor profit, bulls are not yet ready to exceed 130 it seems
Is Friday Mate, Price tends to retract towards the closing time (Profit Taking),

Let see what happens on Monday...
USDJPY price action on the daily time frame turned sideways after bulls resisted the bearish drive to the 126.100/128.700 weekly demand zone (blue). However, the recent ‘wicky tops’ indicate bears are still influential in the market and we cannot rule out further southward move in the early part of this week.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
Bullishness- nothing crazy 800-1200 points, flag pattern break or the real inverse head ands shoulders 5000+ lol

Rate will be going up next week, that means higher dollar
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Learn, a forex trader must, unlearn and relearn he will.
Long 129.700

SL 129.300
TP 140.000

Edit: out of the trade slightly in plus. Waiting for Fed.
USDJPY price action on the daily time has rejected the 128.070/126.100 horizontal support (blue) seen on the weekly time frame but, presently, it is sideways. This could be seen as a technical pause before further northward market engineering to an area of value. Intra-day traders may be watching lower time frames for momentum shift in the early part of this week. Personally, as a medium-term swing trader, I will await the daily close on Monday, or a momentum shift on the H4 time frame, before looking for a trading opportunity.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
Quoting COGSx86
Bullishness- nothing crazy 800-1200 points, flag pattern break or the real inverse head ands shoulders 5000+ lol Rate will be going up next week, that means higher dollar {image}
Yep.. it is crazy how they telegraph FOMC. Expected though, so not that much volatility like you said.
When you feel like you HAVE to trade is when you least should!
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Here is the update, and look at the range. Very nice.
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Learn, a forex trader must, unlearn and relearn he will.
Quoting OBsayMkMoney
{quote} Yep.. it is crazy how they telegraph FOMC. Expected though, so not that much volatility like you said.

Here is the chart to follow for fed rate hikes, the FED rate hike follows Governments need for funds from bond auction,
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Learn, a forex trader must, unlearn and relearn he will.
Quoting COGSx86
{quote} Here is the chart to follow for fed rate hikes, the FED rate hike follows Governments need for funds from bond auction, {image}
Do you mind mansplaining that a bit? So when the FED needs funds the 3yr goes up triggered by rate increase? Gonna see how Youtube splains this too. Thanks.
When you feel like you HAVE to trade is when you least should!
I will sell after the FOMC today

the 130 area looks like strong resistance for now
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
USD/JPY near 129.21 S (look at H4 Chart).
Wednesday 6:30 Mst is the Japan market open time, Is it not a coincidence the market turns at these points? GO back and find more confirmation, post it here. See you will.

And did I not call exactly where price was going to go? lol wow. Talk about being in the zone.
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Learn, a forex trader must, unlearn and relearn he will.
USDJPY reached a major falling trend line on a daily.
Even though the market was consolidating with a horizontal range for some time,
the touch of the trend line pushed the pair to the downside.
The market broke and closed below the support of the range.
I believe that the pair will keep falling.
Goals: 127.77 / 126.85
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Trade what you see not what you think!
Hope will reach support in nice trending mode

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wise man say, only fools rush in
Were not finished dropping yet
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