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USD/JPY Discussion

  • #70,641
  • Oct 24, 2017 12:23pm Oct 24, 2017 12:23pm
Looks like USDJPY is setting up for a nice buy trade today. The same could be said about AUDUSD, NZDUSD, and possibly USDCHF also. Looks like there are a few pairs today needing to be shaken senseless for their pocket change.
Here's Tom with the weather.
  • #70,642
  • Oct 24, 2017 12:38pm Oct 24, 2017 12:38pm
A part of me is wondering if the past couple of days have been a bull-trap. If that winds up being the case, you have to appreciate the symmetry of the Sept bear-trap. Mark me down for the neutral camp. Currently short @ 114
  • #70,643
  • Oct 24, 2017 12:40pm Oct 24, 2017 12:40pm
Quoting Nicholishen
A part of me is wondering if the past couple of days have been a bull-trap. If that winds up being the case, you have to appreciate the symmetry of the Sept bear-trap. Mark me down for the neutral camp.
It's possible, my plan is to target today's daily high on that one.
Here's Tom with the weather.
  • #70,644
  • Oct 24, 2017 12:57pm Oct 24, 2017 12:57pm
Quoting Nicholishen
A part of me is wondering if the past couple of days have been a bull-trap. If that winds up being the case, you have to appreciate the symmetry of the Sept bear-trap. Mark me down for the neutral camp. Currently short @ 114
I agree... If we don't have a daily close above 114 by the end of the month I suspect we will be waiting until December for the next reading of the tea leaves from Aunty Janet before we break 114.5 or 111.
  • #70,645
  • Oct 24, 2017 1:02pm Oct 24, 2017 1:02pm
Quoting Mwfinad1211
{quote} I agree... If we don't have a daily close above 114 by the end of the month I suspect we will be waiting until December for the next reading of the tea leaves from Aunty Janet before we break 114.5 or 111.
If it closes above 114, I'm not going anywhere near it today. That is unless it gets to my entry area before it gets to the daily close.
Here's Tom with the weather.
  • #70,646
  • Oct 24, 2017 1:10pm Oct 24, 2017 1:10pm
Quoting OHLC
{quote} If it closes above 114, I'm not going anywhere near it today. That is unless it gets to my entry area before it gets to the daily close.
A close above 114 today looks like a very low probability event.
  • #70,647
  • Oct 24, 2017 1:48pm Oct 24, 2017 1:48pm
Tax plan and USD under pressure. Back to 112 we go.
  • #70,648
  • Oct 24, 2017 1:58pm Oct 24, 2017 1:58pm
Quoting Mwfinad1211
Tax plan and USD under pressure. Back to 112 we go.
As of now I'm still planning to go long but depending on where it closes, very likely will have to change target.
Here's Tom with the weather.
  • #70,649
  • Oct 24, 2017 2:04pm Oct 24, 2017 2:04pm
Quoting OHLC
{quote} As of now I'm still planning to go long but depending on where it closes, very likely will have to change target.
After another solid rejection from 114, I will be adding to short position on next rally, If we see one before 112.8
  • #70,650
  • Oct 24, 2017 2:06pm Oct 24, 2017 2:06pm
Wow. That was quick lol
  • #70,651
  • Edited 2:19pm Oct 24, 2017 2:08pm | Edited 2:19pm
Managed to add a short at 113.799. Stops still safely above 114.119

UJ has a been a super-whipsawy-volatile mess the last month... but atm bears look comfortably in control.

Looks like support at 113.74 is turning to solid resistance. Extremely tempted to add another short with stop above 113.879
  • #70,652
  • Oct 24, 2017 2:09pm Oct 24, 2017 2:09pm
Wow
  • #70,653
  • Oct 24, 2017 2:18pm Oct 24, 2017 2:18pm
Sheds starting to show anger hold on don't force anything, wait until you are it
  • #70,654
  • Oct 24, 2017 2:23pm Oct 24, 2017 2:23pm
Added short. Tight stop above 113.879
  • #70,655
  • Oct 24, 2017 2:25pm Oct 24, 2017 2:25pm
Quoting 4xjunkie
Sheds starting to show anger hold on don't force anything, wait until you are it
113.8 looking like resistance
I'm short @113.95 stop is at 114. Take profit and flip the trade @ 112.8
  • #70,656
  • Oct 24, 2017 2:36pm Oct 24, 2017 2:36pm
closed all my jpy shorts..looking for re enter after fed vp decision.
  • #70,657
  • Edited 3:07pm Oct 24, 2017 2:44pm | Edited 3:07pm
Bull TL looks tentatively pierced and price back below preceding Bear TL. Let the downtrend resume.

Edit to add: or not. Stopped out on 1 position. Still holding 2 shorts stops @ 114.119 which still look safe for the moment
  • #70,658
  • Oct 24, 2017 4:28pm Oct 24, 2017 4:28pm
Glad I caught it. Anyone else catch it? Show a screenshot if you caught it.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM15.png Size: 16 KB

There's a similar PA on AUDUSD.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDM15.png Size: 23 KB
Here's Tom with the weather.
  • #70,659
  • Oct 24, 2017 4:35pm Oct 24, 2017 4:35pm
It's fast here we go 114 holding
  • #70,660
  • Oct 24, 2017 5:27pm Oct 24, 2017 5:27pm
Waiting for Tokyo open in another hour and a half.
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