USD/JPY Discussion

Price action has now moved 90 pips southward from the area.

Trade safe and prosper.

KP

seems trend will work. but im still waiting for to see a proper sideway and breakout it to downside for a healty move

The growth of the Japanese yen on forex - this is all about US bonds.
Market risk off sentiment led to demand for protective assets, including US government bonds and the Japanese yen.
The pair USDJPY broke the lower border of the rising channel and fell below the moving average for 100 hours and 100 candles for H4. Today's fall of the pair USDJPY the strongest daily decline in more than a year. This may be the first signal to a possible reversal of the yen's decline trend.
The yield of 10-year US government bonds fell sharply and is testing key support near the round value of 3.00%.

Such an abrupt departure from risks can be connected with profit taking by investors before today's publication of the minutes of the last FOMC meeting. In the event that the protocols are sufficiently "hawkish", it is able to expand the yield of bonds upward and the Japanese yen will also continue to fall on the forex market.
But, it often happens that such a sharp withdrawal of investors into defensive assets is a signal for upcoming events that carry high risks - volatility in the stock market, military conflicts, political risks, etc. The yield of government bonds is often the leading indicator of uncertainty in the world. What can be - I do not yet understand. Italy, North Korea, Iran, Muller's investigation in the US ???? Do you remember all this talk about bonds yield curve flattering in the US and the impending financial crisis? Who knows.
We must closely monitor the news background and be prepared for high volatility in the foreign exchange market. If the avoidance of risks in the currency market continues, this can lead to gold growth. At the moment, it balances on the verge of the reversal zone after several days of consolidation near the lower boundary of the long-term rising channel.

Am going to pay very close attention to 110.00, if it makes it there.

110.2 is more important, around the 200 day MA

i went short to see if it can move below 109 today, stop above 110.2

I'm short, looking at a ride to 109.15. Then reassess.

Maybe 108.80 is the place for bounce.

If an inverted hammer forms on H4, further to the previous hammer, this really might go south quickly.

after FOMC it probably will, i sold

New stuff which can cause further escalation in geopolitical situation in middle east and strenghten the yen.......worth a read

https://mobile.nytimes.com/2018/05/2...-missiles.html

close below 109.85 can trigger bear trend. going to watch those trendlines to break downside

Looks like a head and shoulders could form, out of that.

patiently watch how price goes against the resistance line.
D chart

I hate trading during speeches, there are way to many fomc speeches. Anyone else think this?
I find the markets move way to random on the speeches

I never know, nor do I care to.

Im enjoying this. Been recovering lost ground a fair bit last 2 days with this fall. Made a silly decision early yesterday to go against the trend which gave me a rude reminder never to do that.

Ill see what she does at 109.6 to see if a double bottom forms or if it keeps going south.

109.30 and 108.80 are up next...phew this crash is fast gathering steam !!

If this retest of 109.50 holds, we could retest 111.00. 110.98 comes to mind for some reason.
it did not hold that time maybe next time. I really think there will be a retest of 111.00 before the bear run.

Made a fat sell order at 1.2050 for E/U. And made one for 111.50 for this pair. Bloody hell they must be toxic.


I would still wait. Just action trying to find US buyers. Of which I'm sure there are still plenty. Wait for a H&S pattern, that would be my MO.

took a nibble at 109.41 see what happens.