USD/JPY Discussion

hang in there, I'm in the same boat, nothing is playing nice. It's the trap, we are still in it imo.

l lost a little on it but killed to save before stopping out. I entered long too soon after it started to move up from the resistance breakdown. It had another leg to go down, then it moved back up from that support area back up to the resistance area, I missed out on all of that move, but I did ok scalping EU. UJ not so easy today but good lessons for me.

good day traders we have had a few tests of 110.5 if we get one more that is a brick wall buy it. have a great weekend. eu is melting down nicely at the moment,

on eu recovery , uj goes down further

Staying out of this pair for now. Would be interesting to see how the USD moves.

Double technical triangle on the USDJPY on Friday Evening



The price first hit the upper boundary of the inner triangle, then broke through the outer triangle and used it as support. Then there was a strong upward momentum. Further we see also an interesting price action. The price was tested and broke through the resistance line drawn along the upper corner of the triangle (the red line on the chart). Having broken through this level, the pair met sellers at the moving averages 100 SMA and hourly 50 EMA. There, too, the border of the descending channel passed. Bouncing off from the middle, buyers could find support on the resistance line and the border of the canal and finished the day exactly under averages. On Monday, it will be necessary to monitor the actions of traders in the Asian session. If the price overcomes the averages, the bulls on the pair USDJPY will gain control over the situation and we can see the continuation of the upward movement in the pair.

Is anyone looking at 110.85? it has my interest.

my best guess, shorted it at 110.85 a retest would push eu under the opening gap imo.

The pair is consolidating its losses, other than the fact that US government shutdown, focus turns to BoJ, I believe interest rate will remain unchanged. Immediate support can be found at 110.18, break down would further the loss.

it seems like it has to go up more before down, got out at b.e,
111.00?

up to 111 from lows of 110.5 area. news said, "tentative" without a time so I guess this is the time

H4 consolidation in a correction (4).
Possible medium-term setups on expanding ranges.

long 110.940 stop 110.880 looking to scalp 1st half soon 111.060

it pulled back on me so I added to position, advanced stop to keep risk similar

if the trend bar on the 5m doesn't hold 50% I'll be killing it before stop since that's the trigger I based entry on

added, killed all, re-entered same as initial entry since it is holding short term support area and dip in both EU&GU but it isn't yet responding so if those two gain traction up, I'll be killing this again, not going well.

at this point in my trade it is the final chance since EU&GU are forming a complex 2 leg pullback, they would both need to follow thru down, not a bad entry for a short, and UJ would need to hold these lows, but as we know, they often run these stops, in which case I would be out with larger than planned loss, which happens.

Stopped out. I have to look back to see if I could have managed it better. Pattern, time of day, trade management, etc.

Got it. I made the following errors. Traded since 7am so I'm not mentally prepared, time of day I don't yet know - not enough experience with it, since I didn't have full mental energy I missed things that are normally obvious to me. There was a trend, next it was in a range, my rule to not trade the middle of the range didn't occur to me so I did exactly that, broke a rule I wasn't aware of. I have a big list of more stuff, so it's a nasty repeat lesson. These aren't fun, but have to be kept visible as a check to make sure I'm not repeating it.

But more on this range after trend that I entered long. there is resistance up around 111.025 which is the top of the range. That top with resistance was rejected and price steadily moved down consistently, all the way to the bottom of the range. Thus fulfilling price action basics that say price bounces between areas of support and resistance. So I messed it up badly but it's important to know why and how and what I am going to do about it. This is definitely my final trade of the day.

Anyone think it will retest 111.00? im going to setup 110.95 for a short.