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USD/JPY Discussion

  • #77,841
  • Aug 23, 2018 1:49am Aug 23, 2018 1:49am
See if demand will hold
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  • #77,842
  • Aug 23, 2018 10:16am Aug 23, 2018 10:16am
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  • #77,843
  • Aug 23, 2018 5:39pm Aug 23, 2018 5:39pm
Bulls seem unstoppable, immediate resistance around 111.40/50.
  • #77,844
  • Aug 23, 2018 7:18pm Aug 23, 2018 7:18pm
Maybe, maybe not:-
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  • #77,845
  • Aug 23, 2018 8:15pm Aug 23, 2018 8:15pm
Loss its steam on the 4 hour chart many zones appear. 111.43-111.5, first possible zone. Next zone we see is 111.8-112.1 followed by 112.25. Chart shows the way.

Many confirming aspects, trends, fibos, volume, fibo projections. 11.9-112.25,

Fear not, for the trend will guide us, show us the way, it will.
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Learn, a forex trader must, unlearn and relearn he will.
  • #77,846
  • Aug 23, 2018 8:27pm Aug 23, 2018 8:27pm
I've had an ok morning buying the EURUSD and selling the AUDJPY (early, before it went up. Had 3 stop outs BE as it bounced up), got a little profit, but it's made me more skittish than usual. I really want to sell the UJ but think it's best if I finish for the day and go for a bike ride. Nothing is staring at me as an obvious trade atm. Good luck.
  • #77,847
  • Aug 23, 2018 8:38pm Aug 23, 2018 8:38pm
Actually I tell a lie I just sold AJ. Yesterday's candle was so bearish and it's had quite a retracement. I will tighten SL though so don't know how long it will last. Trade now BE only.Don't want to swamp it but don't want to risk my friday profit either
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  • #77,848
  • Aug 23, 2018 10:09pm Aug 23, 2018 10:09pm
Got stopped out. That's trading.
  • #77,849
  • Aug 24, 2018 4:12am Aug 24, 2018 4:12am
I see some short term support at 111.31 now, above there still bullish...
Look Sharp/Trade Tight
  • #77,850
  • Aug 24, 2018 4:22am Aug 24, 2018 4:22am
and UJ is in S/R as well.
the small retracement is ready to bounce back.
just wait for monday.
UJ is running slow for past weeks. good pair for scalper.
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Profit growth tells you the trader ability.
  • #77,851
  • Aug 24, 2018 5:46am Aug 24, 2018 5:46am
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  • #77,852
  • Aug 24, 2018 6:20am Aug 24, 2018 6:20am
no clear direction..still looks bullish
  • #77,853
  • Aug 24, 2018 9:54am Aug 24, 2018 9:54am
It's been trading sideways for the last three months, pretty much nothing exciting happening so far.
  • #77,854
  • Aug 25, 2018 4:13pm Aug 25, 2018 4:13pm
Quoting arigoldman
It's been trading sideways for the last three months, pretty much nothing exciting happening so far.
usdjpy in the last four days made a hundred and sixty plus pip move
  • #77,855
  • Edited 8:58pm Aug 25, 2018 8:09pm | Edited 8:58pm
I'm really sick of getting out of trades too early through doubt arising with retracements ( which, as cogs points, are normal as the market doesn't move in a straight line, and breathes). I was in a sell with UJ after that hour doji and reversal (shown with arrow down) but I doubted myself and the trade, and had a too tight SL. Using the hour candles my SL would have needed to be about at a $400 loss for a 2 lot trade to safely not swamp it. This week I'm going to work on longer trades, which probably means dropping lot sizes, and being more patient, which irks me. I also had a lovely eurusd long from the start of the day that I TP on of about $50 but would've been about $1800 now. Grrrrr. Still I had an ok profit week. I can't trade the Asian session tom but will get in for US open. The UJ has rejected the 22 fib retracement at this stage on daily, but I am keen to see some more lower highs. Mostly I want to be long EURUSD - weekly chart shows hammer/ reversal. I also have this thing where I just want to constantly short the UJ , I have no idea what pathology drives that. If the UJ fails to get above 111.334 during Asian session, or stalls there, I will want to short it. (again), though it really looks like it's going to 112 (unless it's already stalled). The UJ weekly chart is not nearly as convincing bullish compared to eurusd (to me at any rate). The eurusd has stiff resistance at 1.1728ish. I actually re did my UJ weekly with lower resistance based on daily top 21/5/18 instead
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  • #77,856
  • Aug 25, 2018 9:56pm Aug 25, 2018 9:56pm
Quoting hellsbells
I'm really sick of getting out of trades too early through doubt arising with retracements ( which, as cogs points, are normal as the market doesn't move in a straight line, and breathes). I was in a sell with UJ after that hour doji and reversal (shown with arrow down) but I doubted myself and the trade, and had a too tight SL. Using the hour candles my SL would have needed to be about at a $400 loss for a 2 lot trade to safely not swamp it. This week I'm going to work on longer trades, which probably means dropping lot sizes, and being more patient,...
Hi mate. According to my personal analysis, uj is about to fly away from current resistance trendline. If u noticed, all of this time we are trading in a pennant triangle on weekly timeframe. We know that the pennant triangle is continuation pattern (depends where the price broke) The trendline resistance already broke and tested once. Last weekly candle already rejected the trendline (a pinbar with long body). Actually the current level is an important area/psychological area. Seems like market already rejected that area last week. Another thing, if u are spotted, uj is trading above the 200ma on weekly and monthly timeframe. As for me, this is a clear indicator that this pair is ready to fly. The pa also formed on critical area. I already went long since last week. Happy trading mate!

P/s: U drew 2 lines on weekly timeframe. The below line u drew seems to be correct and acted as a trendline resistance. If u connect those 2 low weekly, u'll see a pennant triangle i talked about.
  • #77,857
  • Edited 11:47pm Aug 25, 2018 11:34pm | Edited 11:47pm
Quoting Pipmasterfx
{quote} Hi mate. According to my personal analysis, uj is about to fly away from current resistance trendline. If u noticed, all of this time we are trading in a pennant triangle on weekly timeframe. We know that the pennant triangle is continuation pattern (depends where the price broke) The trendline resistance already broke and tested once. Last weekly candle already rejected the trendline (a pinbar with long body). Actually the current level is an important area/psychological area. Seems like market already rejected that area last week. Another...
Thank you for your opinion. I like to hear and see what others think (unless its fractals, I have no idea about thos). May UJ up and away with both of us lol. Certainly if it gets above 112 I will be bullish
Good luck
Cheers h
NB I drew the second TL because when I see a TL broken I always redraw a second TL at worst case scenario but still valid (the higher TL still has 7? points of contact. This keeps me on my toes. Also, the week still had a lower low (as well as slightly higher high). Keeps me cautious.
  • #77,858
  • Aug 25, 2018 11:53pm Aug 25, 2018 11:53pm
Quoting hellsbells
{quote} Thank you for your opinion. I like to hear and see what others think (unless its fractals, I have no idea about thos). May UJ up and away with both of us lol. Certainly if it gets above 112 I will be bullish Good luck Cheers h NB I drew the second TL because when I see a TL broken I always redraw a second TL at worst case scenario but still valid (the higher TL still has 7? points of contact. This keeps me on my toes. Also, the week still had a lower low (as well as slightly higher high). Keeps me cautious.
Lower low? Do you mean lower high? If so, we have higher low also. Thats why it is a pennant triangle. Its ok to keep safe and waiting. I just bought with small position only to construct my position. Will add later if this pair go up and away. Happy trading!
  • #77,859
  • Aug 25, 2018 11:58pm Aug 25, 2018 11:58pm
Quoting Pipmasterfx
{quote} Lower low? Do you mean lower high? If so, we have higher low also. Thats why it is a pennant triangle. Its ok to keep safe and waiting. I just bought with small position only to construct my position. Will add later if this pair go up and away. Happy trading!
Ha I'm actually in the bath atm (happy overshare) and in between all the freaking ads and my small phone screen I'm no longer sure, but this last weekly candle had a higher high than previous week as well as lower low than previous week? But I see what youre saying with your analysis cheers
  • #77,860
  • Aug 26, 2018 12:28am Aug 26, 2018 12:28am
Quoting hellsbells
{quote} Ha I'm actually in the bath atm (happy overshare) and in between all the freaking ads and my small phone screen I'm no longer sure, but this last weekly candle had a higher high than previous week as well as lower low than previous week? But I see what youre saying with your analysis cheers
Smell a little confusion here. Sorry mate, i didnt put any image here, so that u understand it better. My bad! Later i'll try to put it once i get back my lappy. I cant draw a line on the phone screen.
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