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USD/JPY Discussion

  • #76,701
  • Edited 3:57am May 25, 2018 3:42am | Edited 3:57am
Quoting 4xjunkie
I see it now. inverted head and shoulders. {image}

If this line holds, higher it will go (in a perfect world of course, if of course no whipsaw action occurs), the only thing that brings some caution is the doji that formed and where it formed.


edit: broke the line, lookin at 110 target, for now
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  • #76,702
  • May 25, 2018 4:00am May 25, 2018 4:00am
Just something to consider
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Learn, a forex trader must, unlearn and relearn he will.
  • #76,703
  • Edited 9:56pm May 25, 2018 5:28am | Edited 9:56pm
AEST 20:27 - 5MIN USDJPY Chart
Wait for a good spot to LONG, see how the price develops itself inside the channel.
I am watching in a 1MIN chart now, I made a lot of mistakes before. BE PATIENT.
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drop too fast, wait until it reaches the support line.
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I should follow main trend sell it first, another lesson learned
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Looking at the last 5MIN chart, it is doing triangle, hard to decide the direct now.
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  • #76,704
  • May 25, 2018 8:12am May 25, 2018 8:12am
only option is to sell rallies
Don't Worry Be Happy
  • #76,705
  • May 25, 2018 9:36am May 25, 2018 9:36am
109.440 must be playing the break out. Loading longs for the smooth ride.
Keep the Lights on then you can catch the rise from the dark.
  • #76,706
  • May 25, 2018 9:42am May 25, 2018 9:42am
Trying to hold the anchor if the lift could be dragged.
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Keep the Lights on then you can catch the rise from the dark.
  • #76,707
  • May 25, 2018 10:01am May 25, 2018 10:01am
Many bullish patterns forming, hmmm may take sometime however
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Learn, a forex trader must, unlearn and relearn he will.
  • #76,708
  • May 25, 2018 2:17pm May 25, 2018 2:17pm
USD/JPY lost the bullish strength and is hovering around 109.50. The pair will need to regain the 109.90 level in order to avoid the negative stance. Meanwhile the renewed selling interest below 109.00 might bring break of the 108.00 handle next week.
  • #76,709
  • May 25, 2018 6:03pm May 25, 2018 6:03pm
Expect Yen to rally next week given Italian downgrade by Moodys.Spain is next in line.
Your friendly neighbourhood Sith
  • #76,710
  • May 26, 2018 12:10am May 26, 2018 12:10am
Quoting darthPip
Expect Yen to rally next week given Italian downgrade by Moodys.Spain is next in line.
You're probably right. But Ratings agencies have lost much of their reverence in recent years. Many still remember 2008.

I don't expect any major moves in the near future. I am very bullish on the Yen, yet further analysis is telling me to wait. This pair has a history of ranging for extended periods. I've even considered a potential buy order at 109.10, or a bit lower.

I'm very very patient and cautious. Plus the swap rate is a killer if you're not careful. It can act like a virus, slowly eating away at your funds.
Humans are naturally hardwired to avoid and detest uncertainty.
  • #76,711
  • May 27, 2018 6:54am May 27, 2018 6:54am
Hi, what's your thoughts on weekly chart? This last candle...
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  • #76,712
  • May 27, 2018 7:14am May 27, 2018 7:14am
Quoting coolmakina
Hi, what's your thoughts on weekly chart? This last candle...

With the recent 8 week push, I target 113.7, but it could still retrace to the 107-108 before pushing higher.

But who the hell trades weekly?
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  • #76,713
  • May 27, 2018 8:14am May 27, 2018 8:14am
Quoting coolmakina
Hi, what's your thoughts on weekly chart? This last candle...
Going down again; strong Bearish Engulfing right below Fibonacci 61.8%
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  • #76,714
  • May 27, 2018 8:20am May 27, 2018 8:20am
Quoting 9jatrader
{quote} Going down again; strong Bearish Engulfing right below Fibonacci 61.8%
The chart
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  • #76,715
  • May 27, 2018 10:24am May 27, 2018 10:24am
Quoting COGSx86
{quote} With the recent 8 week push, I target 113.7, but it could still retrace to the 107-108 before pushing higher. But who the hell trades weekly? {image}
Master Yoda,

What is your most preferred time frame?

Thanks
  • #76,716
  • May 27, 2018 11:26am May 27, 2018 11:26am
I'm seeing a Daily wave 5 of 5 down began and wave 1 of Wave 5 complete (?) so far. Also Friday was an inside day likely because here in U.S. it was beginning of 3 day holiday weekend:
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  • #76,717
  • May 27, 2018 3:13pm May 27, 2018 3:13pm
gap up
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Don't Worry Be Happy
  • #76,718
  • May 27, 2018 3:16pm May 27, 2018 3:16pm
Looking to sell at test of supply or when new supply level formed
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  • #76,719
  • May 27, 2018 3:21pm May 27, 2018 3:21pm
reason for the gap

https://twitter.com/realDonaldTrump/...31304836018176
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Don't Worry Be Happy
  • #76,720
  • May 27, 2018 3:48pm May 27, 2018 3:48pm
It opened to a gap even last week...nothing much to get excited.
IMHO there is plenty of drama between Kim and Trump yet to come.Kimmy is playing the little teen girl who wants to be courted but doesnt want to look desperate Trump will play hard to get.
Last week Trump threatened to pull out and Kimmy came back begging to negotiating table.
Your friendly neighbourhood Sith
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