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USD/JPY Discussion

  • #78,341
  • Oct 1, 2018 5:50am Oct 1, 2018 5:50am
Quoting msniper
{quote} better trade other jpy pairs hehe they are more clear than UJ
personally, I really hate trading the crosses, and find it counterproductive mostly, but I still do it, less and less at least.....
Look Sharp/Trade Tight
  • #78,342
  • Oct 1, 2018 6:00am Oct 1, 2018 6:00am
Quoting PayTheLimit
{quote} personally, I really hate trading the crosses, and find it counterproductive mostly, but I still do it, less and less at least.....
my fav is pair in forex is GBPJPY. its always crazy and generous and respect analysis very much
  • #78,343
  • Oct 1, 2018 6:14am Oct 1, 2018 6:14am
Coming up, first test, I see. Hmmm
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Learn, a forex trader must, unlearn and relearn he will.
  • #78,344
  • Oct 1, 2018 6:16am Oct 1, 2018 6:16am
Quoting msniper
{quote} my fav is pair in forex is GBPJPY. its always crazy and generous and respect analysis very much
Its a personal preference, sure, but my main concern the last few years has been trading less. Following less pairs, yields less trades. Anyway, if GJ makes a large move, I expect I'll get a piece of it in the outrights. If I do trade the crosses, I trade much smaller size. I do have a few longs in there right now, but I'm closing them out soon as I just got my UJ longs filled.
Look Sharp/Trade Tight
  • #78,345
  • Oct 1, 2018 6:16am Oct 1, 2018 6:16am
Quoting COGSx86
Coming up, first test, I see. Hmmm {image}
check daily chart there is a clear bearish div not sure how long it will take to playout hehe
  • #78,346
  • Oct 1, 2018 6:34am Oct 1, 2018 6:34am
Price will go down at either of those 2 zones.... maybe
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Dragon Rider
  • #78,347
  • Oct 1, 2018 6:57am Oct 1, 2018 6:57am
Quoting barloc
Price will go down at either of those 2 zones.... maybe {image}
nice I want first zone please enough going up slowly hehe
  • #78,348
  • Oct 1, 2018 9:58am Oct 1, 2018 9:58am
what the fck is happening with this pair, ADR5 is only 50 really ? Today 18 pips since London? Where did all the volatility go, on vacation?
  • #78,349
  • Oct 1, 2018 10:13am Oct 1, 2018 10:13am
Quoting mades
what the fck is happening with this pair, ADR5 is only 50 really ? Today 18 pips since London? Where did all the volatility go, on vacation?
I don't get it either! Well....what goes up must come down is what they say. I'll just wait, have a selling order from friday....
  • #78,350
  • Oct 1, 2018 10:30am Oct 1, 2018 10:30am
Quoting ForexNL
{quote} I don't get it either! Well....what goes up must come down is what they say. I'll just wait, have a selling order from friday....
I understand there is some major resistance around 114 and I would expect indecision but a volatile one (hitting SL's and so on). But sofar it's worse than on a super holiday day.
  • #78,351
  • Oct 1, 2018 10:34am Oct 1, 2018 10:34am
Quoting mades
{quote} I understand there is some major resistance around 114 and I would expect indecision but a volatile one (hitting SL's and so on). But sofar it's worse than on a super holiday day.
There is, therefore I expect it to go down for sure.... Have to wait it out, can be a while....
  • #78,352
  • Oct 1, 2018 1:21pm Oct 1, 2018 1:21pm
USD/JPY is hovering around 114.00 after had marked yearly high at 114.04. The soft Japanese data, better market mood and the trade deal beatween USA, Canada, and Mexico agreed on a trade deal supported the bullish momentum. Ttechnically speaking the is overbought in the short-term and there are no signs that might turn lower. It looks like consolidation is ahead before a new leg to the upside. Indicators ont he four hour time frame are located within overbought territory and the price is developing above its bullish moving averages. Immediate support is seen at 113.60 and as long as the pair holds above it, bulls will attempt to fight the 114.40 level.
  • #78,353
  • Oct 1, 2018 1:24pm Oct 1, 2018 1:24pm
Seems to me consensus view is bearish and FF members are heavy short. Probably means a stop clearing move to 115 is in order...
  • #78,354
  • Oct 1, 2018 3:37pm Oct 1, 2018 3:37pm
Quoting Mwfinad1211
Seems to me consensus view is bearish and FF members are heavy short. Probably means a stop clearing move to 115 is in order...
I don't think the momentum is powerful enough to break 114.3x area without a nice retracement.

I expect a top to be in place anywhere between 114.07 to 114.3x with a SL around 115

target is hard to measure but minimum 113 and may be it go lower it depend how the market will move

when price reach to between 111.6x to 112.8x it will be another fight between bears and bulls. the bull will start to buy the dips and if they success that's mean another bullish wave all the way to 115 and 118

if the bulls fail to protect the support then we can say welcome 107 to 108

looking at the chart we can see a bullish cup & handle pattern. is it going to retrace to the neckline and fly again ?

or it will retrace all the way to the white line to make retrace to the broken trend and fly again ?

so far the price still making LOWER HIGHS since 2017

many possibilities not sure which one will work

very complicated market I suggest to stay away or just trade with super small lots
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  • #78,355
  • Oct 1, 2018 3:56pm Oct 1, 2018 3:56pm
another chart here

1- lets assume we have 5 Elliot waves

the rules says wave 3 shouldn't be the shortest therefore the top cannot be higher than 114.75

2- looking at the white line if we want to measure equal legs then target should be around 114.75 also

conclusion 114.75 is going to be painnnnnnnnnnful for UJ to reach it or go above it
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  • #78,356
  • Oct 1, 2018 4:52pm Oct 1, 2018 4:52pm
The pair has been testing 114.00 level, the strong bullish tone remains. As long as Usd/Jpy stays above the support level at 113.68, upside extension could be further.
  • #78,357
  • Oct 1, 2018 7:37pm Oct 1, 2018 7:37pm
The crowd, don't follow they say, hmmm
Attached Image
Learn, a forex trader must, unlearn and relearn he will.
  • #78,358
  • Oct 1, 2018 7:54pm Oct 1, 2018 7:54pm
9min til end of 4hr candle/ japan volume increases.... who knows. According to FF the crowd has been short UJ for weeks..
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  • #78,359
  • Edited 9:22pm Oct 1, 2018 8:03pm | Edited 9:22pm
3 trades at BE, 2 UJ , 1 AJ. The forex bun is in the oven, will review in 3 hours unless I'm stopped out. NB, couldn't walk away, stopped out on AJ and closed bothj UJ 113.935. Too many bulls
  • #78,360
  • Oct 1, 2018 11:26pm Oct 1, 2018 11:26pm
Quoting kolz
Oh guys thanx good replies! >>Better jobless claims - lowest in 20 years and positive Philly Fed Index. Its probably all mentioned in the calendar - up top. Make it a habit to check every day. >>{image}
i have stayed away from all things kolz
people leave, but this thread will go on for ever
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