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USD/JPY Discussion

  • #76,641
  • May 22, 2018 7:39am May 22, 2018 7:39am
Wouldn't be surprised if it created a reverse H&S pattern here. Few days to go yet before an optimal sell point.

But it's still very risky.
Humans are naturally hardwired to avoid and detest uncertainty.
  • #76,642
  • May 22, 2018 7:56am May 22, 2018 7:56am
just closed my long of the day... just because... no special reason.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM1522052018.png Size: 129 KB
If you don't know how to earn money, don't loose it.
  • #76,643
  • May 22, 2018 8:02am May 22, 2018 8:02am
Just needs SLs to collect.
Forcemeat can not be unrolled back...
  • #76,644
  • May 22, 2018 8:56am May 22, 2018 8:56am
My 2 cents. everything above 111.00 at this point should be safe for some longer term pip farming. i think a big push down is pending. lumpy pa normally indicates larger moves,
  • #76,645
  • May 22, 2018 9:11am May 22, 2018 9:11am
Quoting coolmakina
just closed my long of the day... just because... no special reason. {image}

Very nice entry, you had.
Learn, a forex trader must, unlearn and relearn he will.
  • #76,646
  • Edited May 23, 2018 3:12am May 22, 2018 9:38am | Edited May 23, 2018 3:12am
Quoting jagdpanther
This little push might have just made it another green weekly candle. Also entered long for 111.5. Then ill put a new SL down when it gets close in case it forms a double top.
Most likely no double tops this time.Everytime there was double top the price has pushed higher.The bullish trend needs to end else UJ goes to 125 breaking multiyear highs.
I sense a disturbance in the force.
Your friendly neighbourhood Sith
  • #76,647
  • May 22, 2018 10:21am May 22, 2018 10:21am
Quoting COGSx86
{quote} Very nice entry, you had.
Thanks.
by the 4th time (on 15m chart), when price aprouch 110.834 (red line on chart) with a WRB, it was rejected and price went up again.
but i only saw that after entry....
If you don't know how to earn money, don't loose it.
  • #76,648
  • May 22, 2018 2:57pm May 22, 2018 2:57pm
At 110.910, price action on the weekly time frame on USDJPY is now operating around the resistance trendline of a weekly descending channel. The area is also proximal to the 50 Fib zone of the drop from the high of May 2015 to the low of June 2016. This location is likely to offer a feasible short trade.

I may be wrong. Trade safe and prosper.

KP
Do your homework, follow the footprints of smart money
  • #76,649
  • May 22, 2018 8:39pm May 22, 2018 8:39pm
sharp move down in Asia, 110.5, 110.2 is support

looks like it might be bearish today
Don't Worry Be Happy
  • #76,650
  • May 22, 2018 10:15pm May 22, 2018 10:15pm
...
Attached Image (click to enlarge)
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  • #76,651
  • May 22, 2018 10:16pm May 22, 2018 10:16pm
Any specific reasons for the move down or is it FOMC minutes tomm and mention of 'inflation' thrown in them
Your friendly neighbourhood Sith
  • #76,652
  • May 22, 2018 10:30pm May 22, 2018 10:30pm
Quoting darthPip
Any specific reasons for the move down or is it FOMC minutes tomm and mention of 'inflation' thrown in them
I would say it is a 'lack of buyers.' The fundamental reasons are too diverse to know specifically.
Humans are naturally hardwired to avoid and detest uncertainty.
  • #76,653
  • May 23, 2018 12:49am May 23, 2018 12:49am
Quoting darthPip
Any specific reasons for the move down or is it FOMC minutes tomm and mention of 'inflation' thrown in them
Trump’s latest trade war comments with China.
  • #76,654
  • May 23, 2018 1:34am May 23, 2018 1:34am
Took long to the 112 @110.4
Now i see the 112 as the top.
Forcemeat can not be unrolled back...
  • #76,655
  • May 23, 2018 3:13am May 23, 2018 3:13am
USD/JPY sold off a bit today for no apparent reason it seems.
  • #76,656
  • May 23, 2018 3:14am May 23, 2018 3:14am
Quoting darthPip
{quote} Most likely no double tops this time.Everytime there was double top the price has pushed higher.The bullish trend needs to end else UJ goes to 125 breaking multiyear highs. I sense a disturbance in the force.
Disturbance is force it is.Welcome to the dark side.

-Your friendly neighbourhood Sith
Your friendly neighbourhood Sith
  • #76,657
  • May 23, 2018 3:24am May 23, 2018 3:24am
Quoting arigoldman
USD/JPY sold off a bit today for no apparent reason it seems.
Its sold off because dollar is being dumped left,right and center
Your friendly neighbourhood Sith
  • #76,658
  • May 23, 2018 3:47am May 23, 2018 3:47am
Quoting darthPip
{quote} Its sold off because dollar is being dumped left,right and center

its not the dollar, which is close to its high from a couple of days ago

its the the yen futures, which just caught a massive bid
90% of people, are wrong about 90% of everything, 90% of the time...
  • #76,659
  • May 23, 2018 3:53am May 23, 2018 3:53am
Quoting theDHT
{quote} short the line break? DX looks exhausted at this stage + good r/r UJM240 {image} trade safe

channel appears to be broken

looks even better on daily chart

maybe time to short the retracement?

H4
Attached Image (click to enlarge)
Click to Enlarge Name: UJ 5.23.18.png Size: 127 KB
90% of people, are wrong about 90% of everything, 90% of the time...
  • #76,660
  • May 23, 2018 4:29am May 23, 2018 4:29am
This fall is possessed thats for sure. Made a few sneaky pips though
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