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USD/JPY Discussion

  • #78,701
  • Oct 23, 2018 1:56pm Oct 23, 2018 1:56pm
USD/JPY recovered some ground and currently is trading around 112.20, but keeping levels below the short-term ascendant channel formed by 111.62 and the trend line that marks base figures around 112.40. On the four hour time frame the price is developing below its 100-day and 200-day SMAs, while technical indicators have settled within negative areas and confirming that the risk towards downsides is still actual. Breaking the 111.60 level would be good reason for further declines with next bearish target at 110.37.
  • #78,702
  • Oct 23, 2018 2:54pm Oct 23, 2018 2:54pm
I'd wait. Probably a while to get a good risk-on trade. (BUY @ 111.00)

Lot of grudgy activity to go on here I reckon' , other than options I wouldnt risk anything currently.

Still holding longs from a while ago though, good interest if you position it well.

A
Humans are naturally hardwired to avoid and detest uncertainty.
  • #78,703
  • Oct 23, 2018 3:00pm Oct 23, 2018 3:00pm
Actually scratch that, even 109 seems likely. Would love to see a down move there, wonderful buy entry.
Humans are naturally hardwired to avoid and detest uncertainty.
  • #78,704
  • Oct 23, 2018 4:41pm Oct 23, 2018 4:41pm
Quoting CannonScout
Actually scratch that, even 109 seems likely. Would love to see a down move there, wonderful buy entry.

Trading daily, Im assuming? Looking for big pips, hmmm?

As a swing looking for 40-100+ pips, I'm
Learn, a forex trader must, unlearn and relearn he will.
  • #78,705
  • Oct 23, 2018 6:24pm Oct 23, 2018 6:24pm
Quoting COGSx86
{quote} Trading daily, Im assuming? Looking for big pips, hmmm? As a swing looking for 40-100+ pips, I'm
Yes, why eat up commission and spread when there is no need?

Plus we seek schools of salmon not just a snapper. Much prefer to scrape the ocean floor that singularly fish with a hook.

If ya get me drift.
Humans are naturally hardwired to avoid and detest uncertainty.
  • #78,706
  • Edited Oct 24, 2018 12:35am Oct 23, 2018 11:38pm | Edited Oct 24, 2018 12:35am
Well...solid choices based on price action are really working for me....by using all time frames for my analyses...before make my final decision on M5 and open a position for a good Day trade with good profits and a loads of respect to manage my risks....by identify supports and resistances that show clearly room enough or not for tendencies and make my moves minimizing my mistakes...bullish forming 4show...
Scar
  • #78,707
  • Oct 24, 2018 1:31am Oct 24, 2018 1:31am
5min hns with bearish engulfing 1hr, and rejection at TL
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  • #78,708
  • Oct 24, 2018 1:44am Oct 24, 2018 1:44am
i'd appreciate the hour closing below the dreaded SMA so I can tighten my SL. The good old pennant at work
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  • #78,709
  • Oct 24, 2018 2:33am Oct 24, 2018 2:33am
TP $30 for 1 of 3 trades. Risking $40 for remaining 2. So potential $10 loss for TP $220, other open.
  • #78,710
  • Oct 24, 2018 2:17pm Oct 24, 2018 2:17pm
On the four hout time frame the USD/JPY pair remans limited on the upside, as the 100-day SMA is heading towards south, while technical indicators are hovering around their midlines with no directional strength. The top of the week at 111.89 comes as immediate resistance as the pair also has the above mentioned 100-day SMA around it. Given this positive tone of equities, a steeper decline would seem unlikely today and moreover if the bulls keep above the 112.10/20 price area.
  • #78,711
  • Oct 24, 2018 5:38pm Oct 24, 2018 5:38pm
Quoting Lot77
On the four hout time frame the USD/JPY pair remans limited on the upside, as the 100-day SMA is heading towards south, while technical indicators are hovering around their midlines with no directional strength. The top of the week at 111.89 comes as immediate resistance as the pair also has the above mentioned 100-day SMA around it. Given this positive tone of equities, a steeper decline would seem unlikely today and moreover if the bulls keep above the 112.10/20 price area.
Positive tone of equities?
  • #78,712
  • Oct 25, 2018 1:06am Oct 25, 2018 1:06am
I still feel 111 is in the cards, will look for a spot to try again....
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Look Sharp/Trade Tight
  • #78,713
  • Oct 25, 2018 11:01am Oct 25, 2018 11:01am
Hi Guys, LONG, LONG.......Market movers made position for next long move. On picture is FUTURES JPY.
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  • #78,714
  • Oct 25, 2018 1:41pm Oct 25, 2018 1:41pm
USD/JPY remains on negative ground, despite the limited downward potential. On the four hour time frame the price is developing below a congestion of moving averages, all of them lacking of clear direction. RSI and stochastic are located within bearish territory. Currently the pair is trading around around 112.60 and in order to return to the bullish mode, will need to surpass the weekly highs below 112.90. On the other hand, a renewed selling interest below 111.85 would open doors for a further decline toward the 111.00 area.
  • #78,715
  • Oct 25, 2018 2:40pm Oct 25, 2018 2:40pm
Quoting Oregonas
Hi Guys, LONG, LONG.......Market movers made position for next long move. On picture is FUTURES JPY. {image}

Curious, I'm who you get your market feed from?
Learn, a forex trader must, unlearn and relearn he will.
  • #78,716
  • Oct 25, 2018 4:34pm Oct 25, 2018 4:34pm
BE extremely careful buying here...well you should be careful buying anywhere. BUT I think this could go much lower, there is substantial selling interest which is curious. Either that or extended JPY demand.

Tip; consider it one of those quintessential retracements. (Forget the word) Where the next move is equal to the previous move.


While I wouldn't sell, there is nothing to gain by jumping in shallow water. Wait till the tide increases than dive. Little more confirmation never hurt anybody.
Humans are naturally hardwired to avoid and detest uncertainty.
  • #78,717
  • Oct 25, 2018 5:18pm Oct 25, 2018 5:18pm
Quoting Oregonas
Hi Guys, LONG, LONG.......Market movers made position for next long move. On picture is FUTURES JPY. {image}
Doesn't that show a volume spike with top reversal? How can you tell its not increased selling ?
  • #78,718
  • Oct 25, 2018 5:20pm Oct 25, 2018 5:20pm
Quoting CannonScout
BE extremely careful buying here...well you should be careful buying anywhere. BUT I think this could go much lower, there is substantial selling interest which is curious. Either that or extended JPY demand. Tip; consider it one of those quintessential retracements. (Forget the word) Where the next move is equal to the previous move. While I wouldn't sell, there is nothing to gain by jumping in shallow water. Wait till the tide increases than dive. Little more confirmation never hurt anybody.
Great point about shallow water. Im still bearish, we had LH and LL yesterday, but overall very rangebound
  • #78,719
  • Oct 25, 2018 8:30pm Oct 25, 2018 8:30pm
The USDJPY is still consolidating around the 55 day EMA at the 112.27 level. From the current levels, the price may head in any direction. To the upside, the 113.00 level could act as resistance. To the downside, the 200 day EMA, around the 111.00 level could act as support.
  • #78,720
  • Oct 26, 2018 5:05am Oct 26, 2018 5:05am
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Guys, USDJPY, I'm seeing this pair being supported by the dynamic support Envelope, this is a good buy place
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