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USD/JPY Discussion

  • #72,541
  • Jan 5, 2018 4:29am Jan 5, 2018 4:29am
Reminder: NFP in an hour.
  • #72,542
  • Jan 5, 2018 4:50am Jan 5, 2018 4:50am
Quoting MrPresident
{quote} no, i'm awake after coffee and ready to see USD/JPY go to 113.5+ this week
it is almost at 113.5, looking for it to move higher after NFP
Don't Worry Be Happy
  • #72,543
  • Jan 5, 2018 5:51am Jan 5, 2018 5:51am
i think that it might be falling back to 112 because the NFP was not too good
Don't Worry Be Happy
  • #72,544
  • Jan 5, 2018 6:17am Jan 5, 2018 6:17am
Quoting MrPresident
i think that it might be falling back to 112 because the NFP was not too good
Looks like its gaining ground quickly
luck is a loser's excuse
  • #72,545
  • Jan 5, 2018 7:11am Jan 5, 2018 7:11am
News related announcements often, not always, have a move - a counter move - then resumption of initial move.
  • #72,546
  • Jan 5, 2018 7:17am Jan 5, 2018 7:17am
Quoting SunTrader
News related announcements often, not always, have a move - a counter move - then resumption of initial move.
not enough to break past 113.5 today, which may indicate a move back to 112
Don't Worry Be Happy
  • #72,547
  • Jan 5, 2018 7:53am Jan 5, 2018 7:53am
USD/JPY is at a weekly high, but stalled at the 61.8% Fibo (113.35).
  • #72,548
  • Jan 5, 2018 8:30am Jan 5, 2018 8:30am
I suspect by next week the market will slap itself in the face and come back to reality.

Technically speaking, price is hitting the underside of the trend starting back on the 21st. However we have gotten some doji's on the 1 hour with the break from the uptrend started on the 14th.

The push up over the past 12 hour was week with no resistance, on the expectation NFP was gonna be some amazing event. Low and behold NFP was average.

I think the market will range for a few days, maybe only 1 or 2, then drop back to at least 112.5. Current price 113.22!

What goes up, must come down.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: USDJPY4hourB.jpg Size: 223 KB
Learn, a forex trader must, unlearn and relearn he will.
  • #72,549
  • Edited 2:32pm Jan 7, 2018 1:40pm | Edited 2:32pm
Not exactly 100% certain of this count (contracting triangle corrections are some of the trickiest waves to figure out and therefore trade) but wave C - of higher wave 2 - most likely is next:
Attached Image (click to enlarge)
Click to Enlarge Name: UJ wave A B.png Size: 49 KB
  • #72,550
  • Jan 7, 2018 2:06pm Jan 7, 2018 2:06pm
Staying out of this for the week i think.
  • #72,551
  • Jan 7, 2018 2:58pm Jan 7, 2018 2:58pm
Quoting arigoldman
Staying out of this for the week i think.
an opportunity will present itself. I am not feeling good about what I seeing either. we just need more data.
just dumped my short at 113.15 for a sell limit at 113.30
  • #72,552
  • Jan 7, 2018 3:30pm Jan 7, 2018 3:30pm
Inserted Video
  • #72,553
  • Jan 7, 2018 6:39pm Jan 7, 2018 6:39pm
The pair is not showing a very clear directional strength, immediate resistance can be found around 113.310/15, follow by 113.65, break above would open door to 114 level.
  • #72,554
  • Jan 8, 2018 2:29am Jan 8, 2018 2:29am
A little confirmation
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy2.png Size: 43 KB
Learn, a forex trader must, unlearn and relearn he will.
  • #72,555
  • Jan 8, 2018 6:04am Jan 8, 2018 6:04am
Quoting MrPresident
{quote} not enough to break past 113.5 today, which may indicate a move back to 112
failed to get to 113.5 today, it will likely fall back down
Don't Worry Be Happy
  • #72,556
  • Jan 8, 2018 2:51pm Jan 8, 2018 2:51pm
Quoting Hdfx
https://youtu.be/vxKCLneEtLQ
Inserted Video
  • #72,557
  • Jan 8, 2018 5:59pm Jan 8, 2018 5:59pm
Quoting MrPresident
{quote} failed to get to 113.5 today, it will likely fall back down
112.50 would be a crucial level to watch. We're close.
  • #72,558
  • Jan 8, 2018 7:42pm Jan 8, 2018 7:42pm
Quoting MoneyFocus
{quote} 112.50 would be a crucial level to watch. We're close.
Why did Yen get strong all of a sudden?
The Earth is flat!
  • #72,559
  • Jan 8, 2018 10:16pm Jan 8, 2018 10:16pm
Quoting Tfh
{quote} Why did Yen get strong all of a sudden?
positiv average cash earnings report.
  • #72,560
  • Jan 8, 2018 10:51pm Jan 8, 2018 10:51pm
Quoting Tfh
{quote} Why did Yen get strong all of a sudden?
https://www.forexfactory.com/news.php?do=news&id=728599
Never Ever Give Up
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