USD/JPY Discussion

Quoting amikaking

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{quote} if there is no any major news that could spurs high volatility, then USDJPY should be able to hold the 2018 low of 2nd March, and retest 107, before finding real selling in 109 area as indicate by this bearish cypher as seen in the D1 TF my strategy for now: look for any potential reversal buying candles around this 105.23 - 106.00 zone, if buyers are able to reverse the short term selling, we could see price rise back towards 109, yielding a great low risk high reward trade {image}

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Quoting amikaking

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l {quote} im making some update to my potential bearish cypher currently price bounded right at 113% level of the AB swing extension at 105.23 which is the low of 2nd March 2018 according to the bearish cypher harmonic pattern rule, price should found support anywhere between 113% (105.23) and up to 141.4% (which i measure, situated right at 104.56), that means the potential downmove of USDJPY to visit 104.56 cannot be rule out yet but i believe the market will eventually corrects itself, bouncing off 104.56, and so the bearish cypher pattern will...

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Quoting pinko_rp

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UJ managed to break below the support area and now targeting the next one: {image}

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Quoting amikaking

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{quote} with u guys all going to short this pair, hence confirming the trend now is indeed besrish for today i just found another Bearish Cypher pattern in the M30 chart, providing low risk high reward trade of course, my criteria for this harmonic pattern is accurate (manually done by measurement with fibs, not robot or indicator) sell limit 106.235, stop loss 106.37 (today’s high) TP 105.79 (today’s low) * pls take note: if the entry is not triggered, and price somehow manage to reach 105.79, pls remember to close out the sell limit * {image}

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Quoting nealpek

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Amikaking, you are really confusing me. First you said price has to go higher, then lower then harmonic cypher down , but new one on 30, now new one on london one hour chart. What should I do? You mentioned "of course, my criteria for this harmonic pattern is accurate (manually done by measurement with fibs, not robot or indicator)." Should I buy or sell?

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Quoting nealpek

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Got it, thanks!!

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Quoting COGSx86

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BoJ's Kuroda: Will continue with powerful monetary easing, fiscal policy has had some effect in stimulating demand

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Quoting palpite

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{quote} It's amazing how you use this indicator and how you do your analysis. Congrats

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Quoting amikaking

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{quote} Thanks for the generous reply. Actually this is not a "real" indicator at all, although if u mean it, then it is because of its 'predictability' just like the Fibonacci ratios except with a higher probability. If you are interested about the harmonic pattern, read this and learn how to apply it: http://forextraininggroup.com/a-guid...rrency-market/ '' Although they are harder to spot, it is certainly worth watching out for them, since these patterns can lead to highly profitable trading opportunities...

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