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USD/JPY Discussion

  • #76,261
  • May 4, 2018 9:12am May 4, 2018 9:12am
Quoting unlv_tj
May the fourth be with you Yoda (COGS)!
That reminds me, my girlfriends insists that we celebrate Cinco de Mayo each year. So that's tomorrow taken care of!
  • #76,262
  • May 4, 2018 9:15am May 4, 2018 9:15am
Ignore the fib. retracement (which, to be fair, I don't know why I decided to put it on this chart - I never use it).

My targets are in purple and I'll be looking to leverage up my position on the way.

I'm in at 108.76.
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  • #76,263
  • May 4, 2018 9:19am May 4, 2018 9:19am
Quoting Daroch
{quote} SunTrader, do you make that chart by hand, or programmatically?
By hand.
  • #76,264
  • May 4, 2018 9:21am May 4, 2018 9:21am
DXY "likes" higher interest rates whether or not inflation is rising. All currencies do.

If markets think U.S. rates will not rise than most likely DXY will not as well.

And right now Treasuries rose then dropped on NFP news which indicates rates rising (for the moment).
  • #76,265
  • May 4, 2018 9:27am May 4, 2018 9:27am
Quoting SunTrader
DXY "likes" higher interest rates whether or not inflation is rising. All currencies do. If markets think U.S. rates will not rise than most likely DXY will not as well. And right now Treasuries rose then dropped on NFP news which indicates rates rising (for the moment).

3 month treasuries, which lead the FED FUNDs rate, which lead the DXY, move for the most part, inversially of each other. According to the chart that is.
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Learn, a forex trader must, unlearn and relearn he will.
  • #76,266
  • May 4, 2018 9:30am May 4, 2018 9:30am
Quoting SunTrader
DXY "likes" higher interest rates whether or not inflation is rising. All currencies do. If markets think U.S. rates will not rise than most likely DXY will not as well. And right now Treasuries rose then dropped on NFP news which indicates rates rising (for the moment).
I have no doubts rates will rise, but I think this news mean they will rise steadily and in line with the forward guidance that the Fed have already given, rather than any out of the blue action.

Market very much likes today's numbers in relation to the bigger picture = dollar strength until any trade or geopolitical tensions flare up.
  • #76,267
  • May 4, 2018 9:48am May 4, 2018 9:48am
i would argue that the bulls are retiring for now, 110 a strong resistance level that failed to break

the pair went up and stalled under 109.3 after NFP, but it made a low today at 108.65

the pattern of lower lows indicates a lack of bullish momentum
Don't Worry Be Happy
  • #76,268
  • May 4, 2018 9:58am May 4, 2018 9:58am
Quoting MrPresident
i would argue that the bulls are retiring for now, 110 a strong resistance level that failed to break the pair went up and stalled under 109.3 after NFP, but it made a low today at 108.65 the pattern of lower lows indicates a lack of bullish momentum
Lower lows on what time frame?
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  • #76,269
  • May 4, 2018 10:05am May 4, 2018 10:05am
I bought 109.079
  • #76,270
  • May 4, 2018 10:16am May 4, 2018 10:16am
Quoting tiborf71
I bought 109.079
Congrats, you are in the money for 10 pips.
  • #76,271
  • May 4, 2018 10:19am May 4, 2018 10:19am
we'll see.
  • #76,272
  • May 4, 2018 10:25am May 4, 2018 10:25am
[quote = Yvonnely; 11027901] {quote} Gratulálok, 10 pénzbe kerülsz a pénzedben. [/idézet]
congratulations,
Thanks.
  • #76,273
  • May 4, 2018 10:28am May 4, 2018 10:28am
Quoting tiborf71
we'll see.

Looks good. Nicely done.
  • #76,274
  • May 4, 2018 10:32am May 4, 2018 10:32am
Quoting MrPresident
i would argue that the bulls are retiring for now, 110 a strong resistance level that failed to break the pair went up and stalled under 109.3 after NFP, but it made a low today at 108.65 the pattern of lower lows indicates a lack of bullish momentum
it just took one shot at 110,that was effortless.Not sure Ill call it resistance.Weekly candle is still green.Lets see if it closes at 109.50.
Your friendly neighbourhood Sith
  • #76,275
  • May 4, 2018 11:04am May 4, 2018 11:04am
Quoting Luzbay
{quote} Lower lows on what time frame? {image}
it has been poking lower and lower on the daily chart this week
Don't Worry Be Happy
  • #76,276
  • May 4, 2018 11:07am May 4, 2018 11:07am
Quoting darthPip
{quote} it just took one shot at 110,that was effortless.Not sure Ill call it resistance.Weekly candle is still green.Lets see if it closes at 109.50.
it touched 110 and then retraced sharply
Don't Worry Be Happy
  • #76,277
  • May 4, 2018 11:12am May 4, 2018 11:12am
I think the right direction is now north.
  • #76,278
  • May 4, 2018 11:22am May 4, 2018 11:22am
Quoting MrPresident
i love how a bad NFP report results in a bullish USD, make no sense to me stocks seem to like the NFP report, S&P moving up {image}
Same way how interest rate cut sometimes result to bullish movement
Make all mistakes in demo and rain in pips in live account
9jatrader All Time Return: -77.5%
  • #76,279
  • May 4, 2018 11:25am May 4, 2018 11:25am
Hi, Week is about to end, and the stretch made last week seems to have lost strength. it had no continuation this week.
Price has been going up since 25th March but volume has been descreasing. I believe that next week price will go lower.
If price breaks lower than 108.12, still a support to break at 107.30. Once it breaks, and if it does we might well see a drop till 103.41
i will wait to see price action/reaction on those 2 supports.
Meanwhile, i will trade what i see and not what i think!

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If you don't know how to earn money, don't loose it.
  • #76,280
  • May 4, 2018 11:45am May 4, 2018 11:45am
Hi Again. my view on daily.
Price rejected resistance trendline, expectable imho. However, i got the feeling that the way price acted over trendline and 110 level was not enough to turn the market into bearish.
I believe that price will go back up, re-test the trend, pierce 110 level, eventually hit 110.83.
There, at any of those points i will be looking to price action/reaction.
Meanwhile, i will trade what i see and not what i think!

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If you don't know how to earn money, don't loose it.
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