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USD/JPY Discussion

Quoting hellsbells
{quote} I like your pic, but that indicator appears to ignore the bearish blow out . Like bollinger bands?
usually the channels are more suitable for zone trading
****Be careful this week

with the BOJ speaking, the US mid terms and the FED decisions be careful

In my previous post I have remained bullish by I also closed my positions on Friday not wanting to get sucked into events which remove all normal actions of the market.

Bw careful this week everyone, the MId terms will create quite a stir.

Just look back to 2016 and you will see the red flags.
Learn, a forex trader must, unlearn and relearn he will.
I will be careful.
Quoting COGSx86
****Be careful this week with the BOJ speaking, the US mid terms and the FED decisions be careful In my previous post I have remained bullish by I also closed my positions on Friday not wanting to get sucked into events which remove all normal actions of the market. Bw careful this week everyone, the MId terms will create quite a stir. Just look back to 2016 and you will see the red flags.
Thank you, i'll be carefull too.

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Together we can be strongest
Quoting palpite
{quote} Thank you, i'll be carefull too. .
Wisdom indeed, thanks. Dems controlling the house might mean a risk off event as they will attempt to stir up the Russian meddling again. The market seems to favor Trump for pro corporate reasons.
BOJ will most likely stay the course but JGB yields are rising as the market is factoring in more tapering of bond purchases already.
IŽll be short if it reaches around 116.900 to exit @ 111.500 meanwhile stay out. Trying to get 3 digit profits. I am terrible at getting less.
SWING TRADING
Quoting COGSx86
****Be careful this week with the BOJ speaking, the US mid terms and the FED decisions be careful In my previous post I have remained bullish by I also closed my positions on Friday not wanting to get sucked into events which remove all normal actions of the market. Bw careful this week everyone, the MId terms will create quite a stir. Just look back to 2016 and you will see the red flags.
My sentiment is the same. I was thinking the same. i may even stay neutral or hold no position until after this upcoming week.
If you're gonna be a bear, be a grizzly
I'll try be careful too. Risking $3.68 atm.
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"Bank of Japan Governor Haruhiko Kuroda dropped a heavy hint Monday that he wants to normalize monetary policy once the BOJ gets closer to its price goal." https://www.bloomberg.com/amp/news/a...mpression=true

....sooo what does that mean for us?
If you're gonna be a bear, be a grizzly
Quoting warrensapp
"Bank of Japan Governor Haruhiko Kuroda dropped a heavy hint Monday that he wants to normalize monetary policy once the BOJ gets closer to its price goal." https://www.bloomberg.com/amp/news/a...mpression=true ....sooo what does that mean for us?

Nothing changing at this point, Japan's got a long way to go, strong USD.

Back on October 3rd, Japan's 3 month bonds dropped -.2%. Moving the 3 month bonds from -.1% to -.29%. Considering their situation right nows, thats a large move. This means the BOJ and Japan will be that much longer before monetary policy becomes normalized, adding more strength to the USD.......at this point.
Learn, a forex trader must, unlearn and relearn he will.
I'm aware that I sound like a broken record, but all I'm seeing at the moment are higher highs, higher lows and higher closes.

The only way I'd take a short right now is if I was trying to guess what the market is going to do next.

All of the evidence suggests higher prices, so I'm going to trade that until it changes.
I'll try
.

Sell - 113.29

SL - 113.40

TP - 113.00

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Together we can be strongest
Quoting palpite
I'll try . Sell - 113.29 SL - 113.40 TP - 113.00 .

Trade closed in 113.18

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Together we can be strongest
Resistance holding strong for almost a week now at 113.330
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If you're gonna be a bear, be a grizzly
Quoting warrensapp
Resistance holding strong for almost a week now at 113.330 {image}
But if the price go to 113.30 again, i'll buy.

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Together we can be strongest
Quoting palpite
{quote} But if the price go to 113.30 again, i'll buy. .
I'm an amateur at this, but it seems like a safer move would be to wait for a confirmed breakout around 113.40 before buying. The last time it broke above 11.30 resistance, it turned around before it even got to 113.40 - A "Fake Out".
If you're gonna be a bear, be a grizzly
Quoting warrensapp
{quote} I'm an amateur at this, but it seems like a safer move would be to wait for a confirmed breakout around 113.40 before buying. The last time it broke above 11.30 resistance, it turned around before it even got to 113.40 - A "Fake Out".
Not broke before because the price was overbought, now the bulls have force for to push the price above 113.40.

The bears not can leave the price touch 113.30 again.

EDITED : And the bulls not can leave the price cross below 113.00


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Together we can be strongest
Quoting palpite
{quote} Not broke before because the price was overbought, now the bulls have force for to push the price above 113.40. The bears not can leave the price touch 113.30 again. .
Ok - i'm still going to wait for a confirmed breakout around 113.40 before taking a buy position.
If you're gonna be a bear, be a grizzly
Quoting warrensapp
{quote} Ok - i'm still going to wait for a confirmed breakout around 113.40 before taking a buy position.
Or if the price cross below 113.00, we can wait for to sell.


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Together we can be strongest
USD/JPY is extending its sideways movement today and is hovering around 113.00 level. The upcoming day will bring sure direction for the pair, having ahead the critical midterm elections in the USA.
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Xborg