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USD/JPY Discussion 6 replies

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USD/JPY Discussion

Shake out, or change in momentum/direction?
Quoting Luzbay
Shake out, or change in momentum/direction?
I suspect this bear has a lot of room to run. We are/were @ high TF major supply level.

It will take tremendous buy volume to pass 114.5-115.5

Edit to add weak Yen & Fed rate hikes are already priced in. At the moment its hard to see any catalyst whatsoever sustaining a bull trend that in all reality really should have plunged months ago. This last major bull wave from March until now has likely been big $ drawing in liquidity to fill a large long term short position.

Time will tell
112.90 is fairly decent support on H4.
Eyeing retracement to 112.60. If we bounce or close sharply above that level + stock markets continue to rally, look to 113.50 minimum after this pullback.
USD/JPY dropped heavily after had the impressive high at 113.14 to a low at 112.81. Currently the pair is trading few pips below the 113.00 handle, but I think the short-term remains bullish as long as holds above 112.65.
Would like to see a 3rd or even 4th higher-low to confirm a new uptrend before re-entering a buy position.
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If you're gonna be a bear, be a grizzly
R-1311 S-1255, bias is bullish.
Building shorts, USDX index is high enough and JPY crosses seem to struggle to get higher.
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-._.-
Quoting darksize
Building shorts, USDX index is high enough and JPY crosses seem to struggle to get higher. {image}
It broke through my Downtrend line, but I still see this trickling down to the 112.676 line before possibly turning around.
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If you're gonna be a bear, be a grizzly
Quoting warrensapp
{quote} It broke through my Downtrend line, but I still see this trickling down to the 112.676 line before possibly turning around. {image}
Yes 112.676 is strong, will take some profits there just in case. But i would like to see the pair touching zone 110.500 - 110.800 before it gets higher.
-._.-
Quoting darksize
Building shorts, USDX index is high enough and JPY crosses seem to struggle to get higher. {image}
Have another diamond bigger yet. Check it.

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Together we can be strongest
Quoting palpite
{quote} Have another diamond bigger yet. Check it. {image}
Clear enough
-._.-
Quoting darksize
{quote} Yes 112.676 is strong, will take some profits there just in case. But i would like to see the pair touching zone 110.500 - 110.800 before it gets higher.
We are heading in that direction now - we'll see if 112.67ish holds or if it breaks-down further.
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If you're gonna be a bear, be a grizzly
it's trying to reverse and go up
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Quoting hellsbells
it's trying to reverse and go up {image}
Hasn't breached the trend-line yet (down)...gettin' close though
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If you're gonna be a bear, be a grizzly
Could be heading for hour tweezer bottom
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Hour changeovers are so fascinating. I closed my 2 longs for about $5, there's quite a battle. I avoid trading the last 10min of hour and first 5min of hour. The whole picture can change so fast. It will never cease to amaze me how much of a lie the current candle can be until its finished, wether it be 5 min or hour
Def starting to feel more bullish. That 15min bear candle break down was rejected with increased vol back up
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worth a shot. Increasing vol

NB, have TP on 3 of 4 trades, risking a big $10 on last. She's not going up !
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Quoting hellsbells
worth a shot. Increasing vol {image}
Hmmm....

I don't really agree with this one... In my opinion, the bullish candles are every time struggling to reach the highs of the bearish candles. Seems like steam is running out for the bulls on this one.

But hay, just my two cents... Might be totally wrong.
I am still a NOOB!!! Damn, there goes another 10 pips!
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