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USD/JPY Discussion

  • #76,901
  • Jun 7, 2018 9:55am Jun 7, 2018 9:55am
Nealpek, great to have you back. I stupidly decided to run my windows update and am now only able to see charts on my phone. Nice charts you posted.
  • #76,902
  • Jun 7, 2018 9:56am Jun 7, 2018 9:56am
that's what I see. the 109.40 area for me is the most important to confirm the reversal top of UJ
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  • #76,903
  • Jun 7, 2018 10:07am Jun 7, 2018 10:07am
that should have completed the check list. all from memory. going to nail it next time. buckle up is a slide.
  • #76,904
  • Jun 7, 2018 11:21am Jun 7, 2018 11:21am
It poked through the last structure, but I'm hoping it completes the sweep just below .80
  • #76,905
  • Jun 7, 2018 11:23am Jun 7, 2018 11:23am
H4 - This is going down
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- If you plant corn, you get corn
  • #76,906
  • Jun 7, 2018 11:35am Jun 7, 2018 11:35am
Quoting nealpek
Interesting representation of price. My 4 hour looks somewhat different.
Heiken Ashi candles
- If you plant corn, you get corn
  • #76,907
  • Jun 7, 2018 11:42am Jun 7, 2018 11:42am
The weakeness provided by the US Dollar pushed the USD/JPY lower today. The pair crossed to below the 110.00 level but the 50% Fibo at 109.65 offers good support.
  • #76,908
  • Jun 7, 2018 11:58am Jun 7, 2018 11:58am
Quoting MrPresident
it may now turn more bearish, bulls failed under 110 i'm selling with a stop above 110.5, target 105 for medium term
no change in my view, sell all rallies, take profit at 105
Don't Worry Be Happy
  • #76,909
  • Jun 7, 2018 12:10pm Jun 7, 2018 12:10pm
Quoting nealpek
Price doesn't move up or down because bulls or bears failed. It moves up and down to fill huge orders on the bankers' books. I can't push price in any direction anymore than you or any other regular trader can. They are purposely pushed to certain areas for a reason......
the way I see it, bulls failed and I take profit on rallies, don't need to know anything else

even big banks fail once the market panics and starts selling, that's why many of their forecasts are completely wrong
Don't Worry Be Happy
  • #76,910
  • Jun 7, 2018 12:12pm Jun 7, 2018 12:12pm
Sounds good to me!!
  • #76,911
  • Jun 7, 2018 12:22pm Jun 7, 2018 12:22pm
109.5 is the next support, see if it gets there today
Don't Worry Be Happy
  • #76,912
  • Jun 7, 2018 12:25pm Jun 7, 2018 12:25pm
i am also looking to small retrace at this point...
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If you don't know how to earn money, don't loose it.
  • #76,913
  • Jun 7, 2018 12:31pm Jun 7, 2018 12:31pm
next week is the US/NK summit where Donald meets Kim, maybe USD/JPY will rally briefly into the meeting but after, there could be a dump and the start of downtrend

plus the G7 meetings are unlikely to result in any positive news, which will help bears
Attached Images
Don't Worry Be Happy
  • #76,914
  • Jun 7, 2018 12:37pm Jun 7, 2018 12:37pm
Now thats what I call a stop hunt! Good call to the 50
  • #76,915
  • Jun 7, 2018 1:22pm Jun 7, 2018 1:22pm
Quoting nealpek
Now thats what I call a stop hunt! Good call to the 50
Wouldn't mind a buy order soon. Hopefully demand for USD will return at the 109 level. Or maybe a bit under. Perhaps exit the position at 111?
Humans are naturally hardwired to avoid and detest uncertainty.
  • #76,916
  • Jun 7, 2018 2:03pm Jun 7, 2018 2:03pm
Quoting nealpek
Trading is about taking calculated risks. After swooping down and cleaning all the stops along the way, some entity has bought a shitload of usd/jpy. That's the premise I'm going with, so if they bought heavily below the high, it must be to sell higher. Just a logical approach to the markets....
Yeah there was a spike at 109.47...1000 lots +
Your friendly neighbourhood Sith
  • #76,917
  • Jun 7, 2018 2:59pm Jun 7, 2018 2:59pm
Was just about an exact touch of Tuesday's low as well as a squaring off today's high.
  • #76,918
  • Jun 7, 2018 3:59pm Jun 7, 2018 3:59pm
I think the next play looks like this.
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they could strech the middle of the m I not sure.
thats why i call it a rock chucker. like throwing a hot rock at someone. they will dance all over the place.
  • #76,919
  • Jun 7, 2018 5:21pm Jun 7, 2018 5:21pm
looks like there might be more JPY buying across the board into the G7 summit?
Don't Worry Be Happy
  • #76,920
  • Jun 7, 2018 8:07pm Jun 7, 2018 8:07pm
Quoting 4xjunkie
I think the next play looks like this. {image} they could strech the middle of the m I not sure. thats why i call it a rock chucker. like throwing a hot rock at someone. they will dance all over the place.
Agreed, I do, but if 110.05 price breaks, higher it will go.
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