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USD/JPY Discussion

  • #73,821
  • Feb 28, 2018 8:28am Feb 28, 2018 8:28am
Quoting unlv_tj
Pretty quiet this morning, I suppose end of the month flows has everyone sitting on the sideline? I missed this trade but wanted to make note of it in hindsight. 30M bearish outside bar, retrace on the 5M to where the last of the buyers (trapped buyers) were sitting and a touch trade here would have yielded over a 2:1 R:R from the entry at 107.16 to where I would have looked to target at 107. {image} {image}
it will pick up volatility in 2 minutes once equities open
Don't Worry Be Happy
  • #73,822
  • Feb 28, 2018 8:48am Feb 28, 2018 8:48am
I have a feeling we going to see 106.58 before continuation up. good luck everyone.
  • #73,823
  • Feb 28, 2018 8:49am Feb 28, 2018 8:49am
Quoting 4xjunkie
I have a feeling we going to see 106.58 before continuation up. good luck everyone.
i think that it is going to 105 personally because it wasn't able to break past 107.8 yesterday after what Powell said

and there is also the Italian elections coming up next week which may scare EU bulls, resulting in a run to JPY across the board
Don't Worry Be Happy
  • #73,824
  • Feb 28, 2018 9:18am Feb 28, 2018 9:18am
Quoting nealpek
So wheres the money today?
in my trading account and unrealized equity
Don't Worry Be Happy
  • #73,825
  • Edited 9:41am Feb 28, 2018 9:19am | Edited 9:41am
Quoting MrPresident
{quote} i think that it is going to 105 personally because it wasn't able to break past 107.8 yesterday after what Powell said and there is also the Italian elections coming up next week which may scare EU bulls, resulting in a run to JPY across the board
Im not into the news stuff. I just trade the chart, a few days ago someone asked if i wold explain my thought process. uj typically makes a small M formation at the end of a down trend check the 4h, there is another formation it will make and its not it. close but this one has taught me a lesson before.

that it for me for now, looking at 106.58 or even better would be 106.35.
  • #73,826
  • Edited 10:07am Feb 28, 2018 9:42am | Edited 10:07am
Attached Image (click to enlarge)
Click to Enlarge Name: jpy.png Size: 28 KB


Buy limit in place at 106.825, above the previous daily low. S/L at weekly low.
There is a fibonacci support below.
There is a huge divergence as USD keeps strengthening, but this pair refuses to comply.
There is price action from the monthly low, and lately from the weekly low.
There is clear weakness on every timeframe.
And there is also the influence of october 2014 Hi-Low (from which price rallied seriously).

Closed at -100 pips after the close of a 4h candle below the 1h trendline.
Seems we`re not ready for the reversal just yet, immense bearish pressure despite of clear divergence due to the daily bear trendline.
Waiting for the next level (previous weekly low) or a powerful price action.
  • #73,827
  • Feb 28, 2018 9:46am Feb 28, 2018 9:46am
this pair is boring today, E/J is much more fun
Don't Worry Be Happy
  • #73,828
  • Feb 28, 2018 10:07am Feb 28, 2018 10:07am
Its not moving very fast eu overshot my expatiations today, uj probally will so final call 106.00. have not had a real test if it anyway. keep them green,
  • #73,829
  • Feb 28, 2018 10:12am Feb 28, 2018 10:12am
Quoting nealpek
As it's boring waiting for trades to play out, it's interesting to note how many traders view certain markets. The stock and currency markets, while both showing similar structures, have very different drivers pushing price. The currency markets are where huge money is borrowed, paid back, and where huge sums of money are exchanged by banks and large companies primarily. To my understanding when a currency makes a large move in one direction, like in the first half of feb, it's because traders at a bank received a huge order, unknown to us, to buy...
I completely agree.They throw in those candles so that ur algorithms and indicators start placing bad trades.Charts
with smaller timeframes are full of that bullcrap.

Brighter side to this is those working for big boys have bosses they report to so those guys behave very predictably because they have to justify their trades
Your friendly neighbourhood Sith
  • #73,830
  • Feb 28, 2018 10:14am Feb 28, 2018 10:14am
try some longs at 106.57, risk 20...
Look Sharp/Trade Tight
  • #73,831
  • Feb 28, 2018 10:35am Feb 28, 2018 10:35am
Anyone hear some news event on Yen? Why is Yen getting strong this time of day when USD is bulled up from Fed speak? Is there something going on and this is flight to safety? Is someone trying to front run the repatriation?

Anybody?
Ecclesiastes 1:9
  • #73,832
  • Feb 28, 2018 11:03am Feb 28, 2018 11:03am
Quoting COGSx86
{quote} A lot to learn, you have.
Keep your comments for yourself, son.
When you're not sure Short or Long - toss a coin! Chances are 50% !!!
  • #73,833
  • Feb 28, 2018 11:06am Feb 28, 2018 11:06am
Quoting newbegger
Anyone hear some news event on Yen? Why is Yen getting strong this time of day when USD is bulled up from Fed speak? Is there something going on and this is flight to safety? Is someone trying to front run the repatriation? Anybody?
Because YEN is a safe heaven when stock markets are down. No news needed.
When you're not sure Short or Long - toss a coin! Chances are 50% !!!
  • #73,834
  • Feb 28, 2018 11:12am Feb 28, 2018 11:12am
I see $JY falling down to 106.37 and then trying to establish a new tradeable low .

  • #73,835
  • Feb 28, 2018 11:13am Feb 28, 2018 11:13am
Quoting newbegger
Anyone hear some news event on Yen? Why is Yen getting strong this time of day when USD is bulled up from Fed speak? Is there something going on and this is flight to safety? Is someone trying to front run the repatriation? Anybody?
Equities selling, Italian election paranoia
Don't Worry Be Happy
  • #73,836
  • Feb 28, 2018 11:25am Feb 28, 2018 11:25am
Quoting newbegger
Anyone hear some news event on Yen? Why is Yen getting strong this time of day when USD is bulled up from Fed speak?...
Same as always. The trend, the trend.
  • #73,837
  • Feb 28, 2018 11:48am Feb 28, 2018 11:48am
Inserted Video


this pair is from another world this week

watch it go up tomorrow again and then down after
Don't Worry Be Happy
  • #73,838
  • Feb 28, 2018 12:00pm Feb 28, 2018 12:00pm
Quoting MrPresident
https://www.youtube.com/watch?v=ouiN-uxglv0 this pair is from another world this week watch it go up tomorrow again and then down after
I think its ready to find its path. Been range bound long enough. I think time for downward trend. The Dollar index looks ready to continue down and the EURUSD up. Maybe were waiting for news push.
  • #73,839
  • Feb 28, 2018 1:54pm Feb 28, 2018 1:54pm
looking more like a rollover now 106.723
-downward we go??
-if it passes 106.52 in the next few hours, then possible stall (or turn @ 106.3)
  • #73,840
  • Feb 28, 2018 2:09pm Feb 28, 2018 2:09pm
Quoting xoc001
looking more like a rollover now 106.723 -downward we go?? -if it passes 106.52 in the next few hours, then possible stall (or turn @ 106.3)
Possible but tomorrow there is another Powell testimony which could make this pair bullish

selling EUR/JPY might be more profitable
Don't Worry Be Happy
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