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USD/JPY Discussion

  • #73,301
  • Feb 14, 2018 2:53am Feb 14, 2018 2:53am
Coin toss it is.

thanks for the link
I play the trade gamble to feed my Porsche addiction.
  • #73,302
  • Feb 14, 2018 4:13am Feb 14, 2018 4:13am
Yesterday the USD/JPY marked a 15-month low at 106.84 from where now is pulling back. Indicators on the daily chart remain in negative terriroty and had lost directional strength. Despite today’s bounce, below 108.05 the bearish bias prevails.
  • #73,303
  • Feb 14, 2018 5:17am Feb 14, 2018 5:17am
I consider the recent 106.84 LOW to be of Intermediate importance. I don't believe the 8:30 releases will breach it.
They got the low they wanted . Now up.

  • #73,304
  • Feb 14, 2018 5:44am Feb 14, 2018 5:44am
Why anticipate. Trade what price does, not what you think it should.
  • #73,305
  • Feb 14, 2018 7:35am Feb 14, 2018 7:35am
ready to sell again

108, 108.5, 109.2 are the sell levels for me
Don't Worry Be Happy
  • #73,306
  • Feb 14, 2018 7:44am Feb 14, 2018 7:44am
Someone needs to pump this to get this back up there.. I'm looking at 106.5 next stop
I play the trade gamble to feed my Porsche addiction.
  • #73,307
  • Feb 14, 2018 7:48am Feb 14, 2018 7:48am
Another thrust, I see. 106.4 the market likes
Attached Image (click to enlarge)
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Learn, a forex trader must, unlearn and relearn he will.
  • #73,308
  • Feb 14, 2018 7:56am Feb 14, 2018 7:56am
Quoting aeternum
{quote} Little daily doji, bulls and bears tug of war. Weekly has red, green and red all almost the same body length. Waiting for some direction. Weekly wants up but monthly wants down
Bears winning the tug of war, jpy winning from market factors.

Watching for that break out
A 1 pip gain is better than a 1 pip loss.
  • #73,309
  • Feb 14, 2018 8:19am Feb 14, 2018 8:19am
Quoting aeternum
{quote} Bears winning the tug of war, jpy winning from market factors. Watching for that break out
bears are stuck above 107 support, they might lose today
Don't Worry Be Happy
  • #73,310
  • Feb 14, 2018 8:34am Feb 14, 2018 8:34am
More dumping needed in yields and stocks to make USD/JPY move down under 107. If it does break down, then the next target is 105.5. I think there will be a rebound today.
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Don't Worry Be Happy
  • #73,311
  • Feb 14, 2018 1:24pm Feb 14, 2018 1:24pm
Quoting MrPresident
More dumping needed in yields and stocks to make USD/JPY move down under 107. If it does break down, then the next target is 105.5. I think there will be a rebound today. {image} {image}
It would've been nice, but wednesdays are tough. They always seem to be the most volatile day of the week. The dollar got hit hard against the EUR/GBP/CAD/CHF. Fortunately the JPY pairs against those went bull, so at the very least the USD/JPY remained relatively stoic in its daily move. It's all hinging on whether or not the Tokyo session will be calm. The past couple of days when it's dropped hard, both the London and New York sessions haven't challenged it. It'd be nice to see some kind of bounce back this week, but I'm thinking no turnaround will happen until next week.
  • #73,312
  • Feb 14, 2018 4:58pm Feb 14, 2018 4:58pm
Just about to break lower support from the 2013 low.
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Que Sera
  • #73,313
  • Feb 14, 2018 5:01pm Feb 14, 2018 5:01pm
Support is down at the low. That is just a line ... which doesn't capture the trend btw so it is not trend line. Sorry that is just how it goes.

The one above is because it pretty much does capture the trend.
  • #73,314
  • Feb 14, 2018 5:02pm Feb 14, 2018 5:02pm
Quoting Catempire
Just about to break lower support from the 2013 low. {image}
ummm...it was pretty much here in 2016s.What chart is that...lol?
Your friendly neighbourhood Sith
  • #73,315
  • Feb 14, 2018 5:11pm Feb 14, 2018 5:11pm
We will see a bounce back heading into march.

Stock markets will report good profits post the tax cut for the first quarter.

Not to mention fed hike which is due.

Put me in the bull camp now.Target 112.
Your friendly neighbourhood Sith
  • #73,316
  • Feb 14, 2018 5:41pm Feb 14, 2018 5:41pm
Quoting darthPip
{quote} ummm...it was pretty much here in 2016s.What chart is that...lol?
Hehe, I think it's from when the BOJ announced their quantitive easing policy (aka major devaluation of the yen). While Japan has accelerated its bond buyback some, I highly doubt we're going that far down. They still want to keep the value of the yen relatively low. We just had a big shot against the USD across pretty much all pairs. 107.50 was a pretty important level that it broke. It was last year's low. Up next are areas around 106.38, 105.77, and 105.30. I'm not too sure, as I'm trying to chart these off the 4H chart. I usually chart them off the 15M which lines up well with the 1H. But 105.30 area seems the last level where it was both support and resistance, which makes it a solid area for this bear move to stop IMO.
  • #73,317
  • Feb 14, 2018 5:51pm Feb 14, 2018 5:51pm
And now it's dropped 52 pips during low market activity hours. Man, the markets really hate the U/J this week.
  • #73,318
  • Feb 14, 2018 5:53pm Feb 14, 2018 5:53pm
Well apparently traders have read the news you've been reading. Yen vs dollar is at multi month highs. So .............

Reading the news can be detrimental to your trading account. Better to ignore for the most part.
  • #73,319
  • Feb 14, 2018 6:02pm Feb 14, 2018 6:02pm
Quoting SunTrader
Well apparently traders have read the news you've been reading. Yen vs dollar is at multi month highs. So ............. Reading the news can be detrimental to your trading account. Better to ignore for the most part.
Suntrader... bullish or bearish ?
Que Sera
  • #73,320
  • Feb 14, 2018 6:14pm Feb 14, 2018 6:14pm
too many stranded bulls at the moment.
Keep the Lights on then you can catch the rise from the dark.
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