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USD/JPY Discussion

  • #73,321
  • Feb 14, 2018 5:15pm Feb 14, 2018 5:15pm
Quoting ricmaj
too many stranded bulls at the moment.
Wait for currencies paired up with the USD like the GBP/EUR/CHF/CAD to take a hit. They all shot up hard today. Generally, there's some kind of pullback on each daily move. There wasn't any. Once those pairings come back down, and the USD gains some strength, it will move up. At least in the short-term.
  • #73,322
  • Feb 14, 2018 5:35pm Feb 14, 2018 5:35pm
Quoting Catempire
{quote} Suntrader... bullish or bearish ?
Same as the trend. Bear all the way until ........
  • #73,323
  • Feb 14, 2018 5:52pm Feb 14, 2018 5:52pm
Attached Image


Daily chart from 2016
Que Sera
  • #73,324
  • Feb 14, 2018 7:21pm Feb 14, 2018 7:21pm
Provided many pips these past 10 days, the market has.
Learn, a forex trader must, unlearn and relearn he will.
  • #73,325
  • Feb 14, 2018 7:37pm Feb 14, 2018 7:37pm
106.711 could be a decisive moment. if sellers can continue mountain pressure then looking at 105.684/384 for support otherwise a firmer bottom as of now could see price moving higher to near 108.134/108.634. bought at 106.43 targetting the break of 106.711. Let see if it plays out neatly
Keep the Lights on then you can catch the rise from the dark.
  • #73,326
  • Feb 14, 2018 8:03pm Feb 14, 2018 8:03pm
I am not in it. Was working on other pairs and then I see this move.

It seems to be getting stronger and BOJ must be watching Olympics as there is a massive run that is looking like a runaway train BEFORE repatriation starts. I will be waiting for pullback to sell into. I missed too much already down 700 pips.
Ecclesiastes 1:9
  • #73,327
  • Feb 15, 2018 12:27am Feb 15, 2018 12:27am
It may be bottom here at 106.20s momentarily. It may bounce back from here for 50 to 100 pips. if you look at weekly chart, RSI and Fibo 61.8 show that it may stop falling here for sometime. if it should break through, it can go down to 104s. i got some at 106.30. my short term target is about 30 pips. If it gives me bold sign, i will add more to long side. Good luck.
  • #73,328
  • Feb 15, 2018 2:39am Feb 15, 2018 2:39am
I am targeting the 106.00 round number, the bulls have consistently held up a good fight but I am hoping that with the quite day today (no major news announcements) the trend will be our friend and just continue

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To Pipccess and Beyond
  • #73,329
  • Edited 4:37am Feb 15, 2018 4:26am | Edited 4:37am
Taking a rest, Treasuries are, do the same the market will. But I still see it touching back to the low set earlier 106.18
Learn, a forex trader must, unlearn and relearn he will.
  • #73,330
  • Feb 15, 2018 4:55am Feb 15, 2018 4:55am
First position in sell zone filled. A quick 20 pip rejection. Let's see if we can visit 106.

RENKO BRICK SIZE = 10 PIPS (10% of 20ADR)
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Pride always comes before destruction.... -Proverbs 16:18
  • #73,331
  • Feb 15, 2018 5:06am Feb 15, 2018 5:06am
Price action on USDJPY is entering a support zone (bound by magenta horizontal lines) which has held as an S/R zone on a multi-year basis. We may see some sideways price action in the zone or even a possible northward retracement. However, if bears strongly breakdown the zone, we may see them target the next major support around the 101.940 area (bound by purple horizontal lines).

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
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Do your homework, follow the footprints of smart money
  • #73,332
  • Feb 15, 2018 5:09am Feb 15, 2018 5:09am
Quoting COGSx86
Taking a rest, Treasuries are, do the same the market will. But I still see it touching back to the low set earlier 106.18
How can you tell that treasuries are taking a rest? If I had to guess to answer this question, it would be the action stalled and your post came within an hour of the major US News releases. Is that correct?
  • #73,333
  • Feb 15, 2018 5:24am Feb 15, 2018 5:24am
i'm ready to sell any spike back to 105.5, this beast is dead
Don't Worry Be Happy
  • #73,334
  • Feb 15, 2018 5:41am Feb 15, 2018 5:41am
JPY you are so INDECISIVE, I'm now bullish after my BE got taken
To Pipccess and Beyond
  • #73,335
  • Feb 15, 2018 6:23am Feb 15, 2018 6:23am
Quoting unlv_tj
{quote} How can you tell that treasuries are taking a rest? If I had to guess to answer this question, it would be the action stalled and your post came within an hour of the major US News releases. Is that correct?
The past 2 days, 3 month treasuries havent moved and the market lags treasuries.

https://www.investing.com/rates-bond...treaming-chart
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Learn, a forex trader must, unlearn and relearn he will.
  • #73,336
  • Feb 15, 2018 6:29am Feb 15, 2018 6:29am
Than you COGSx86
  • #73,337
  • Feb 15, 2018 6:30am Feb 15, 2018 6:30am
Quoting unlv_tj
Than you COGSx86

"There is only one sorta of discipline, perfect discipline"
Learn, a forex trader must, unlearn and relearn he will.
  • #73,338
  • Feb 15, 2018 7:33am Feb 15, 2018 7:33am
Quoting aeternum
{quote} Bears winning the tug of war, jpy winning from market factors. Watching for that break out
Well that was pretty much your breakout.

But I am expecting some correction as bears are starting to seem tired from the push, down lower we can see 105.2x.

Further down and we go back into past ranging zone. Frankly see this as a very bearish move that has further down sides if fundies don't bring us back up.
A 1 pip gain is better than a 1 pip loss.
  • #73,339
  • Feb 15, 2018 8:00am Feb 15, 2018 8:00am
I'm not sure how many of you play lower time frames and/or price action, but looking back I missed out on this UJ short.

You have pre-London supply that was broken and should hold as demand if bulls are in control. NY news consumed this area with a 15M bearish outside bar. You then have the post news move with is slowly/weak bullish back to the supply in the 15M bearish outside bar and a chance to short off this supply to catch the move down.
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  • #73,340
  • Feb 15, 2018 8:04am Feb 15, 2018 8:04am
The pair has disposed southward for quite a while. Recently, owing to risk aversion/sentiment, JPY has been the strongest among the majors.

KP

Quoting unlv_tj
I'm not sure how many of you play lower time frames and/or price action, but looking back I missed out on this UJ short. You have pre-London supply that was broken and should hold as demand if bulls are in control. NY news consumed this area with a 15M bearish outside bar. You then have the post news move with is slowly/weak bullish back to the supply in the 15M bearish outside bar and a chance to short off this supply to catch the move down. {image}
Do your homework, follow the footprints of smart money
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