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USD/JPY Discussion

  • #76,921
  • Jun 7, 2018 8:27pm Jun 7, 2018 8:27pm
Quoting COGSx86
{quote} Agreed, I do, but if 110.05 price breaks, higher it will go. {image}
I have to follow what the map says, if it dose break i would agree, but this is the path to 111.00, have to check out 109.00 first. there is only one wild card i know of that could change it. and if that happened i believe we would see a sustained bull run for a few years for the pair. i dont believe its the time. it will happen.
  • #76,922
  • Jun 7, 2018 8:39pm Jun 7, 2018 8:39pm
Quoting 4xjunkie
{quote} I have to follow what the map says, if it dose break i would agree, but this is the path to 111.00, have to check out 109.00 first. there is only one wild card i know of that could change it. and if that happened i believe we would see a sustained bull run for a few years for the pair. i dont believe its the time. it will happen.
109 is in the headlights!
Learn, a forex trader must, unlearn and relearn he will.
  • #76,923
  • Jun 7, 2018 8:55pm Jun 7, 2018 8:55pm
The USDJPY consolidates between the 110.00 as resistance and the 109.41 level as support where we can find the 200 day EMA. To the upside, the most relevant resistance is at the 111.93 level. To the downside, the 108.11 level may act as support.
  • #76,924
  • Jun 7, 2018 8:58pm Jun 7, 2018 8:58pm
Quoting COGSx86
{quote} 109 is in the headlights!
my opinoin is that you want to short it up here at 109.96 for the ride down to 109.00 should get 2 chances at it. then look out below. there should be one scare near the end but it is confirming that 109.00 is the bottom. the triangle is the scare, if it dose not print that one then its sub 109.
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  • #76,925
  • Jun 7, 2018 9:11pm Jun 7, 2018 9:11pm
Quoting 4xjunkie
{quote} my opinoin is that you want to short it up here at 109.96 for the ride down to 109.00 should get 2 chances at it. then look out below. there should be one scare near the end but it is confirming that 109.00 is the bottom. the triangle is the scare, if it dose not print that one then its sub 109.{image}

Sorry what tf is that?

going lower now, just needed a re-test
Learn, a forex trader must, unlearn and relearn he will.
  • #76,926
  • Jun 7, 2018 9:22pm Jun 7, 2018 9:22pm
Quoting COGSx86
{quote} Sorry what tf is that? going lower now, just needed a re-test
I believe that we will see everything on the left side of the low on the 5m when we get there.
zig zag move
  • #76,927
  • Jun 7, 2018 10:08pm Jun 7, 2018 10:08pm
Seems serious resistance at 109.800... every attempt gets shut down... BoJ upto old tricks again?
  • #76,928
  • Jun 7, 2018 11:04pm Jun 7, 2018 11:04pm
Will history repeat itself? Patterns, patterns everywhere!

Moment of truth
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Learn, a forex trader must, unlearn and relearn he will.
  • #76,929
  • Jun 8, 2018 12:31am Jun 8, 2018 12:31am
USDJPY_4hr_10s_&_2s
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  • #76,930
  • Jun 8, 2018 12:44am Jun 8, 2018 12:44am
Quoting 4xjunkie
{quote} my opinoin is that you want to short it up here at 109.96 for the ride down to 109.00 should get 2 chances at it. then look out below. there should be one scare near the end but it is confirming that 109.00 is the bottom. the triangle is the scare, if it dose not print that one then its sub 109.{image}

I have no idea what this chart is of ?

https://www.forexfactory.com/attachm...1&d=1528423055
Learn, a forex trader must, unlearn and relearn he will.
  • #76,931
  • Jun 8, 2018 2:31am Jun 8, 2018 2:31am
head and shoulder in 1h chart targeting around 108.80
  • #76,932
  • Jun 8, 2018 2:32am Jun 8, 2018 2:32am
Quoting CannonScout
{quote} Trump holds the biggest stick. He's Captain Chaos. It's part of his MO. Do you really think such a diverse and experienced business magnate will have trouble debating and coming to agreements? It's what he ran on and I'm sure we'll see good cooperation after the bad-mouthing and empty threats die down. NK is a classic example of his strategy and allows us to predict his future negotiations to some degree. He's good at his job despite his shortcomings. That's why we haven't really seen any panic within the US markets. People know that it's...

Well, I guess I will be taking some grains of salt! You are somewhat there fundamentally which is more than most when you see all the technical talk on the forums.

Where I would say you are wrong is your inability to match the information you have into how traders are going to react. Trump being the business magnate he is as shown his ability to hold such an office is questionable! But the real question is, what is the current market sentiment, going into these meetings?

You only need to look at Trump's recent tweets to see that he is on the offensive; headlines of 'G6+1' doing its rounds on the wire & the emerging market fiasco! This will create a risk-off situation in the markets.

I would put the recent performance of the US markets and the USD strength down to other reasons relating to interest rates, but if we are talking about G7 geopolitics the markets are going to be risk-off!
To Pipccess and Beyond
  • #76,933
  • Jun 8, 2018 2:44am Jun 8, 2018 2:44am
Long term, medium term & short term
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Money moves the market, not an indicator.
  • #76,934
  • Jun 8, 2018 4:25am Jun 8, 2018 4:25am
Brief pullback I believe. Readying the account for a buy near a lower level.
Humans are naturally hardwired to avoid and detest uncertainty.
  • #76,935
  • Jun 8, 2018 5:12am Jun 8, 2018 5:12am
109.07 might be a good place to retrace a bit up...
If you don't know how to earn money, don't loose it.
  • #76,936
  • Jun 8, 2018 8:28am Jun 8, 2018 8:28am
could be heading to 109.8 next
Don't Worry Be Happy
  • #76,937
  • Jun 8, 2018 9:26am Jun 8, 2018 9:26am
I love this thread, but I don't think anyone here currently trades the way I trade, so I don't want to take away from what you are all doing. I look for S/D and P/A. This was a great trading opportunity today. Did I take? Hell no, I sat there like a chicken little watching it play out, AGAIN. Anyway, on the 1H yes we had London selling, but as London played out you can see the slowing sell down as we approach what is a fresh demand zone and a zone with lots of history. This should be traded with a simple touch trade, with a stop below the red line. Or alternative you could trade the 30M bullish outside bar formed off this zone. Or even the 15M pin. Will I ever win this battle in my head to believe in myself and what I am seeing? I don't know, I hope so.
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  • #76,938
  • Jun 8, 2018 9:38am Jun 8, 2018 9:38am
Its going nowhere till FOMC next week......staying in the zone!
Your friendly neighbourhood Sith
  • #76,939
  • Jun 8, 2018 9:52am Jun 8, 2018 9:52am
I believe a retest of 109.13 is what it is doing. time will tell, have a great weekend everyone.
not quite awake yet 109.20 make a double bottom.
  • #76,940
  • Jun 8, 2018 10:43am Jun 8, 2018 10:43am
Fridays often are lackluster but besides FOMC next week could market be waiting for the next Trumpy shoe to drop over weekend at G7 or is it G8 (with Russia back in) or maybe even G6 (US kicked out)?
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