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USD/JPY Discussion

  • #68,641
  • Sep 11, 2017 9:55am Sep 11, 2017 9:55am
Monday the strong trend day, some areas to watch the market take a breath.
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Learn, a forex trader must, unlearn and relearn he will.
  • #68,642
  • Sep 11, 2017 10:05am Sep 11, 2017 10:05am
If we see a late pop on the London close, I'll try some EJ shorts at 130.77, otherwise I'll call it a day...laters...
Look Sharp/Trade Tight
  • #68,643
  • Sep 11, 2017 12:40pm Sep 11, 2017 12:40pm
Quoting PayTheLimit
If we see a late pop on the London close, I'll try some EJ shorts at 130.77, otherwise I'll call it a day...laters...

looks like 130.85 is a sharper level, just a shit time to be putting new positions on, and this UJ is a creeper today....this computer is like a slot machine many times...
Look Sharp/Trade Tight
  • #68,644
  • Sep 11, 2017 1:15pm Sep 11, 2017 1:15pm
Long biG since the very lows , as said last week . Might take PP soon a bit higher.

This thing has a long way to travel . . . . . .
  • #68,645
  • Sep 11, 2017 2:11pm Sep 11, 2017 2:11pm
Quoting F.g
Long biG since the very lows , as said last week . Might take PP soon a bit higher. This thing has a long way to travel . . . . . .
i'm starting to see 111.2
  • #68,646
  • Sep 11, 2017 2:38pm Sep 11, 2017 2:38pm
Took prfts now at 109.48 Stand aside fttb.
  • #68,647
  • Sep 11, 2017 11:55pm Sep 11, 2017 11:55pm
still prefer shorts, but I can argue that 108.49 could be a spot for some cheap longs.....

using 109.87 and 110.47 as resistance today....
Look Sharp/Trade Tight
  • #68,648
  • Edited 1:50am Sep 12, 2017 12:19am | Edited 1:50am
Buy at 109.426.
Reason - Still in uptend and MAs crossed after bouncing off 109.30-109.35 area

Sold off with 10pips loss as NZDUSD shoot up 50+pips on news, influencing the other USD pairs. Doesn't like the current price action and rather take a small loss than the uncertainty ahead

Updated. As of my local time 14:45, USDJPY is at 109.50. Should have stick to the trade. Ahhh....
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Always know why you enter a trade. Not trading is also a position.
  • #68,649
  • Sep 12, 2017 1:52am Sep 12, 2017 1:52am
for this hour close, if it's below 109.4, I am selling it... but anything above it, I am adding to my BUY targeting 111.2

Good luck everyone
  • #68,650
  • Sep 12, 2017 1:56am Sep 12, 2017 1:56am
Quoting PayTheLimit
{quote} I would prefer not to for two reasons. First, the method is highly discretionary, in that I use a fair amount of "eyeing it" to Hope you can appreciate my response, PTL....
Thanks for the explanation.
Gone to a better place
  • #68,651
  • Edited 5:11am Sep 12, 2017 2:28am | Edited 5:11am
try some shorts in EJ at 131.41, risk 15...

just gonna offer 109.87s outright.....
Look Sharp/Trade Tight
  • #68,652
  • Sep 12, 2017 5:04am Sep 12, 2017 5:04am
UJ prepared to POP UP
  • #68,653
  • Sep 12, 2017 5:22am Sep 12, 2017 5:22am
My trade: Sell UJ: 109.744
We err, and err, and err again, but less.
  • #68,654
  • Sep 12, 2017 5:38am Sep 12, 2017 5:38am
I have a long position. USD/JPY is very bullish at the moment and I think it will rally back to 109.90 - 110.00. If it breaks out above that resistance zone it may reach 110.60.
  • #68,655
  • Sep 12, 2017 8:29am Sep 12, 2017 8:29am
oh dear...BIG loss ....
  • #68,656
  • Sep 12, 2017 8:32am Sep 12, 2017 8:32am
I think of 110.250 before making a short

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  • #68,657
  • Sep 12, 2017 9:13am Sep 12, 2017 9:13am
Reluctantly switched shorts to longs last night (about 1k loss on equity at that point) aiming for 110, glad I made the choice in retrospect (2k profit currently).

If you look at the daily chart, about here is the point it will turn around to maintain the bearish stance. Could spike higher on the hourly, but If it closes on the daily much higher than the current level that may well change the entire trend (originating early July) from bearish to bullish.

Slight RSI divergence and 2 opposite gaps on last 2 weekly opens creates quite a confusing situation.

What does everyone think?
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  • #68,658
  • Sep 12, 2017 9:38am Sep 12, 2017 9:38am
New High in a bit...
  • #68,659
  • Sep 12, 2017 9:58am Sep 12, 2017 9:58am
Quoting Starcraftmaz
Reluctantly switched shorts to longs last night (about 1k loss on equity at that point) aiming for 110, glad I made the choice in retrospect (2k profit currently). If you look at the daily chart, about here is the point it will turn around to maintain the bearish stance. Could spike higher on the hourly, but If it closes on the daily much higher than the current level that may well change the entire trend (originating early July) from bearish to bullish. Slight RSI divergence and 2 opposite gaps on last 2 weekly opens creates quite a confusing situation....
would be better if you can find three peak in three different years for TF D1.
better also if u trade bearish hidden divergence when the price making higher high while RSI making higher low.

for time being I think H4 will give clearer SR zone to make a proper decision.
  • #68,660
  • Sep 12, 2017 10:49am Sep 12, 2017 10:49am
Nice 110 big round number - previous support and happens (?) to be 38.2% fib retracement.

Showing divergence on the M5 double high:

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And here is the daily view with fib:

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Anyway I'm looking for price action here as I'm bearish this pair overdue for a retracement anyway.
Gone to a better place
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