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USD/JPY Discussion

  • #75,381
  • Apr 6, 2018 1:48am Apr 6, 2018 1:48am
USD/JPY is trading flat around 107.30 today ahead of NFP. The pair is facing now resustance at 107.67 while the downside is supported by 106.90.
  • #75,382
  • Apr 6, 2018 3:48am Apr 6, 2018 3:48am
Quoting MrPresident
{quote} what is 7.17? pretty far down your SL must be
107.17
Janus Return Today: 42.1%
  • #75,383
  • Apr 6, 2018 4:03am Apr 6, 2018 4:03am
All Quiet on Western Front
Attached Image
  • #75,384
  • Edited 5:29am Apr 6, 2018 5:14am | Edited 5:29am
someone here earlier in the week called don't go short before 108
now it's getting close I think HH and might buy in on the HL
so many pairs ATM changing trend
I'm on the AN, here not so sure esp with news tonight (not touching CAD/USD at all for about 6-8 hrs)
I will get my head around this, but always can be wrong
  • #75,385
  • Apr 6, 2018 6:07am Apr 6, 2018 6:07am
i think it could go to 108 if the NFP is good
Don't Worry Be Happy
  • #75,386
  • Edited 6:36am Apr 6, 2018 6:21am | Edited 6:36am
Quote
Dow futures fell after Trump's announcement on Thursday and were down nearly 200 points, or 0.8%, early Friday. That followed a day of stock market gains in the United States as investors appeared to warm to the idea that the barbs between Washington and Beijing were all talk.

Investors were reassured by Larry Kudlow, the director of the White House National Economic Council, who also characterized the tariffs as just proposals in remarks on Thursday. He told reporters there is "nothing around the corner" regarding any concrete tariff plans.

http://money.cnn.com/2018/04/05/news...war/index.html

buy the dip when the market is paranoid and investors panic?
Don't Worry Be Happy
  • #75,387
  • Apr 6, 2018 7:35am Apr 6, 2018 7:35am
bad NFP + trade war risk = sell USD/JPY or buy the dip?
Attached Image (click to enlarge)
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Don't Worry Be Happy
  • #75,388
  • Apr 6, 2018 7:37am Apr 6, 2018 7:37am
USD advanced to the JPY and is now above the 50SMA.
  • #75,389
  • Apr 6, 2018 7:38am Apr 6, 2018 7:38am
So the usd/jpy was nice to me. Non farms came out, took a dip then recovered to 107.34. Thought that was odd considering it was non farms and took a sell position for all of 30 seconds. Easiest 20 pips of my life.
  • #75,390
  • Apr 6, 2018 7:58am Apr 6, 2018 7:58am
i sold from 107.3, stop at 108

target is open for now, but 105 is a good number
Don't Worry Be Happy
  • #75,391
  • Apr 6, 2018 8:24am Apr 6, 2018 8:24am
So far so good for mount Blobulitus!
  • #75,392
  • Apr 6, 2018 8:46am Apr 6, 2018 8:46am
Quoting MrPresident
i sold from 107.3, stop at 108 target is open for now, but 105 is a good number
No Buy from Dips?
  • #75,393
  • Apr 6, 2018 8:47am Apr 6, 2018 8:47am
Quoting MrPresident
i sold from 107.3, stop at 108 target is open for now, but 105 is a good number
moved stop down to protect position
Don't Worry Be Happy
  • #75,394
  • Apr 6, 2018 9:02am Apr 6, 2018 9:02am
Quoting arasheed
{quote} No Buy from Dips?
i trade both ways
Don't Worry Be Happy
  • #75,395
  • Apr 6, 2018 10:04am Apr 6, 2018 10:04am
Quoting MrPresident
{quote} i trade both ways
Trading both ways is very important, especially when price is right at a juncture of volatility, with many conflicting ideas.
Learn, a forex trader must, unlearn and relearn he will.
  • #75,396
  • Apr 6, 2018 10:06am Apr 6, 2018 10:06am
Quoting MrPresident
{quote} i trade both ways

Sounds familiar,lol! I think I know someone that does this too!
  • #75,397
  • Apr 6, 2018 10:12am Apr 6, 2018 10:12am
We must feel the market around us, discipline is the only way.
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Learn, a forex trader must, unlearn and relearn he will.
  • #75,398
  • Edited 10:33am Apr 6, 2018 10:21am | Edited 10:33am
it could be getting ready for a sharp move down

FED chair Powell is speaking later today so he might get the market excited and when he finishes talking, USD/JPY might fall down

https://www.youtube.com/EconomicClubChicago.
Quote
Federal Reserve Chairman Jerome Powell will deliver a speech on the economic outlook at the Economic Club of Chicago at 1:30 PM EST.

Powell said a few weeks ago that he only saw "moderate vulnerabilities" in asset prices compared to their long-term normal levels. A continuation of the optimistic stance by Powell on the economy could help to lock in market expectations for two more rate hikes this year.
Don't Worry Be Happy
  • #75,399
  • Apr 6, 2018 10:22am Apr 6, 2018 10:22am
Sold at the NFP top and will be keep selling at each top. seems like big guys are short now.
newzTrader
  • #75,400
  • Apr 6, 2018 10:34am Apr 6, 2018 10:34am
likely to get another push up for more sells. love it
newzTrader
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