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USD/JPY Discussion

  • #74,021
  • Mar 4, 2018 4:08am Mar 4, 2018 4:08am
I'm expecting a short stop cleanse up to to 106.5 - 107 . A trend continuation down for rest week
due to Trump comments and equities massacre , particularly dax with taxing European cars. If the Italian fascist party gets elected it may cause Italy to leave European Union as well. So turmoil to start week.
  • #74,022
  • Mar 4, 2018 7:43am Mar 4, 2018 7:43am
https://www.express.co.uk/news/world...nister-results

Quote
Today, Italians will head to the polls to cast their ballots for the 945 member Parliament, between 7am and 11pm local time (6am and 10pm GMT).

...

The first exit polls should be published immediately after polls close at 11pm local time but votes are not expected to be fully counted until around 2pm on Monday local time (1pm GMT).
Don't Worry Be Happy
  • #74,023
  • Mar 4, 2018 11:42am Mar 4, 2018 11:42am
Social Democrats sign up to new Merkel-led German government

https://www.reuters.com/article/us-g...KCN1GF004?il=0
  • #74,024
  • Mar 4, 2018 12:52pm Mar 4, 2018 12:52pm
now down, I want to buy 103.

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  • #74,025
  • Mar 4, 2018 4:12pm Mar 4, 2018 4:12pm
Here's a top-down technical perspective on USDJPY.

On the weekly time frame, the bearish move which broke down a consolidation zone three weeks ago continued but with limited momentum. Last week, price action barely breached the low of the bearish candlestick formed three weeks ago. An ascending trendline (chocolate) from the low of September 2012 was breached three weeks ago but was retested a week after. Last week, price action flipped the trendline to resistance. However, a descending trendline (purple) is likely to act as a confluence factor to the horizontal support zone around the 104.400 area. A break below the 104.400 area is likely to give confidence to bears to target the next support around the 102.990 area.

On the H4 time frame, price action has moved away from the mean and it is very close to a support trendline (purple) seen on the weekly time frame. Bulls were able to take price action a bit northward before the closing session last Friday. Thus, we may see a pullback of price action northward in the early part of this week. A resistance trendline (magenta) on the H4 time frame may be a target of a retest by bulls. Thereafter, we are likely to see a southward turnaround.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #74,026
  • Mar 4, 2018 4:46pm Mar 4, 2018 4:46pm
On Daily chart, rally off the low on Friday notwithstanding, the close was the lowest in over a year.

And IMO if Friday's low is taken out, bulls if there are many at the moment, will be in big trouble.
  • #74,027
  • Mar 4, 2018 4:53pm Mar 4, 2018 4:53pm
If it closes above 106.00 this on Monday if not Tuesday we could be looking at an upside.

The fact that 106.00 was a strong support for the last 2 weeks, it most probably be a strong resistance as well, but as soon as it breaks, we could see 110. Let me not limit the market but a weak JPY is good for business.
  • #74,028
  • Mar 4, 2018 5:16pm Mar 4, 2018 5:16pm
Quoting Map
{quote} My market view possible soon up {image}
Soon? Probably. But don't count on it lasting long. Without some STRONG upward momentum (which is unlikely to be any time soon) we're going down. Any movement to the upside is just a temporary retracement... one that I'm counting on to flip bearish. As are many others.
"The fun is in the hunt. Not the kill."
  • #74,029
  • Mar 4, 2018 5:47pm Mar 4, 2018 5:47pm
Quoting Pipclimax
.... The fact that 106.00 was a strong support for the last 2 weeks, ...
Uhh not on my charts. Only March 1st.
  • #74,030
  • Mar 4, 2018 6:29pm Mar 4, 2018 6:29pm
Im thinking a double bottom here, and then a retracement to 109.25.
  • #74,031
  • Mar 4, 2018 7:52pm Mar 4, 2018 7:52pm
Usd/Jpy is consolidating in the negative territory, I don't think the bearish trend is not over yet.
  • #74,032
  • Mar 4, 2018 9:09pm Mar 4, 2018 9:09pm
Quoting csc2009
Usd/Jpy is consolidating in the negative territory, I don't think the bearish trend is not over yet.
so, it is over then...per your comment.
newzTrader
  • #74,033
  • Mar 4, 2018 9:12pm Mar 4, 2018 9:12pm
Soooo
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  • #74,034
  • Mar 4, 2018 10:21pm Mar 4, 2018 10:21pm
I think is going to close the gap before testing the low.
  • #74,035
  • Mar 4, 2018 11:50pm Mar 4, 2018 11:50pm
Quoting 4xjunkie
I think is going to close the gap before testing the low.
Trumph is buying the USD more cheap now.
Together we can be strongest
Vantage Return This Month: na
  • #74,036
  • Mar 5, 2018 1:24am Mar 5, 2018 1:24am
LONG , crew. SL@ 105.22 fttb

I ll add to longs at 105.76 ON STOP IF SEEN.....

Have a good trading week , all .

Palpite, hi. Does our friend DT need opportunities to buy cheap $...??? @@@ !!! ???

No ooooooo...... He has the printing presses and prints $ anytime with zero cost...

  • #74,037
  • Mar 5, 2018 1:35am Mar 5, 2018 1:35am
Quoting F.g
LONG , crew. SL@ 105.22 fttb I ll add to longs at 105.76 ON STOP IF SEEN..... Have a good trading week , all . Palpite, hi. Does our friend DT need opportunities to buy cheap $...??? @@@ !!! ??? No ooooooo...... He has the printing presses and prints $ anytime with zero cost...
In few moments will fly yenes around the world.
Together we can be strongest
Vantage Return This Month: na
  • #74,038
  • Mar 5, 2018 3:36am Mar 5, 2018 3:36am
seeing some R at 106.25ish that might be worth a punt....
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Look Sharp/Trade Tight
  • #74,039
  • Mar 5, 2018 8:33am Mar 5, 2018 8:33am
Quoting PayTheLimit
seeing some R at 106.25ish that might be worth a punt.... {image}
I think is 107.xx the resistance.
Together we can be strongest
Vantage Return This Month: na
  • #74,040
  • Mar 5, 2018 8:37am Mar 5, 2018 8:37am
Quoting palpite
{quote} I think is 107.xx the resistance.
resistance is wherever the market says it is!!
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