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USD/JPY Discussion

  • #72,781
  • Jan 23, 2018 11:44am Jan 23, 2018 11:44am
The pair rejected the post BOJ levels and is facing critical support at 110.19.
  • #72,782
  • Jan 23, 2018 12:51pm Jan 23, 2018 12:51pm
Quoting Lot77
The pair rejected the post BOJ levels and is facing critical support at 110.19.
a failure to close below 110.2 on the daily chart is not good for sellers

i think we will have a big move to the upside on Friday if the U.S data is good, we still have some housing data earlier though and it could support the pair
Don't Worry Be Happy
  • #72,783
  • Jan 23, 2018 2:17pm Jan 23, 2018 2:17pm
Quoting darthPip
I am short from 110.67....lets see how far down I can ride.
Closed my trades for a few green pips
Your friendly neighbourhood Sith
  • #72,784
  • Jan 23, 2018 6:41pm Jan 23, 2018 6:41pm
Quoting darthPip
{quote} Closed my trades for a few green pips
maybe 109.50
  • #72,785
  • Jan 23, 2018 7:35pm Jan 23, 2018 7:35pm
Usd/jpy getting close to test 109.78 support from 9/12. Any thoughts?
  • #72,786
  • Edited 9:25pm Jan 23, 2018 8:20pm | Edited 9:25pm
Quoting Tyger350z
Usd/jpy getting close to test 109.78 support from 9/12. Any thoughts?
if you placed a limit order there, where would you place your stop? the guys on the other side of retailers trades have a saying, that we are so predictable the stop is always just above or below. thats there target, our stops. its their favorite way to make money. just something to consider when looking at charts and p.a.
  • #72,787
  • Jan 23, 2018 9:29pm Jan 23, 2018 9:29pm
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.PNG Size: 28 KB

usd/jpy current
  • #72,788
  • Jan 23, 2018 10:11pm Jan 23, 2018 10:11pm
planning to write a book in about 20 years about UJ titled ......."This is how I and everyone else got screwed"
Your friendly neighbourhood Sith
  • #72,789
  • Jan 23, 2018 10:15pm Jan 23, 2018 10:15pm
rather book will be titled "This is how I keep missing the train I was waiting for"
Your friendly neighbourhood Sith
  • #72,790
  • Jan 23, 2018 10:41pm Jan 23, 2018 10:41pm
Quoting darthPip
planning to write a book in about 20 years about UJ titled ......."This is how I and everyone else got screwed"
same boat, uj has been following your mantra I am irrational psychopath who cld be lying!
I have a theory, but im not willing to concede yet.
  • #72,791
  • Jan 24, 2018 3:48am Jan 24, 2018 3:48am
Down to 109.5. Been a hell of a day so far. Just over a 90 pip drop since the start of the asian session. Going long from here. Might have to hold my positions for a day or so, but at least the swap is in my favor.
  • #72,792
  • Jan 24, 2018 4:16am Jan 24, 2018 4:16am
How to get "screwed" often ... going against the trend. Which I see many around here do time and again.

Note this is not being pointed out to anyone in particular and I have said this numerous times in the past. So take it for what its worth.
  • #72,793
  • Jan 24, 2018 4:53am Jan 24, 2018 4:53am
Quoting SunTrader
How to get "screwed" often ... going against the trend. Which I see many around here do time and again. Note this is not being pointed out to anyone in particular and I have said this numerous times in the past. So take it for what its worth.
The "trend" started around 113.38. A drop of nearly 400 pips on a slow moving pair like the USD/JPY is pretty big sign for a reversal. Maybe not a big reversal, but it's showing signs of bouncing back to an area around 110.400. If it drops further, then 109.880 would be the next target exit for a quick long.
  • #72,794
  • Jan 24, 2018 5:10am Jan 24, 2018 5:10am
Quoting 4xNewGuy
{quote} The "trend" started around 113.38. A drop of nearly 400 pips on a slow moving pair like the USD/JPY is pretty big sign for a reversal. Maybe not a big reversal, but it's showing signs of bouncing back to an area around 110.400. If it drops further, then 109.880 would be the next target exit for a quick long.
I prefer quick shorts ... with the trend. And let others look for reversals.

In order for me to enter a trade I need confirmation. It is a lot easier when you do that "going with the flow" most of the time in an elliott wave 1, 3 or 5.
  • #72,795
  • Jan 24, 2018 5:23am Jan 24, 2018 5:23am
Quoting SunTrader
{quote} I prefer quick shorts ... with the trend. And let others look for reversals. In order for me to enter a trade I need confirmation. It is a lot easier when you do that "going with the flow" most of the time in an elliott wave 1, 3 or 5.
We each have our own methods to this madness. I've found price returns to the same areas over and over again, while using a mishmash of volume spread analysis and RSI to help gauge when a movement is exhausted. This pair is entering uncharted territory for me, so I'm pyramiding so much that whomever the poor person is that has to audit my taxes next year is going to hate forex traders, but like I said, at least this time with longs the swap is on my side. As long as you control your risk, and use the right lot sizes, even counter trend trading can be profitable. You just can't be too greedy with it or it'll bite you in the arse hard.
  • #72,796
  • Jan 24, 2018 5:40am Jan 24, 2018 5:40am
Could be worth taking a long here..109.54
  • #72,797
  • Jan 24, 2018 5:45am Jan 24, 2018 5:45am
looks more like a stop hunt than a trend change

https://www.bloomberg.com/news/artic...s-due-to-trade
Don't Worry Be Happy
  • #72,798
  • Jan 24, 2018 5:59am Jan 24, 2018 5:59am
Quoting MrPresident
looks more like a stop hunt than a trend change https://www.bloomberg.com/news/artic...s-due-to-trade
Most trend changes start with stop hunts though. Like I said in my previous post, maybe not a long-term change, but something you can snag a few quick bucks going long on. Some big volumes happened about 20 minutes ago on the 1M chart.
  • #72,799
  • Jan 24, 2018 6:29am Jan 24, 2018 6:29am
Probably another new LOD soon.

While on the other hand new all time highs expected on NY open for equities.
  • #72,800
  • Jan 24, 2018 7:20am Jan 24, 2018 7:20am
maybe 108 and then 107 will be the next targets for the bears
Don't Worry Be Happy
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