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USD/JPY Discussion 8 replies

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USD/JPY Discussion

Quoting Lot77
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.
Even if the news is "negative" (short) and the price sinks, I don't think it will venture back down to the 112.7ish range. If it does, I still see that as being the support and reversal point.

If things go positively, my hypothesis is that 113.10ish becomes our new support level.
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If you're gonna be a bear, be a grizzly
Still would like to see the pair around 110.700 before any move higher, No entry for me before this level, only if it breaks the resistance, which is less likely.
-._.-
I've traded pretty well this am, but this is a $15 gamble. Obviously I'd like to see confirmed reversal with 15min candle completion on the hour. Last 5min candle was very bearish, and I'm used to seeing a reversal around this time before Japan start up

Nb stopped out, with the spread it was only a $14 loss. I swamped the trade, mind you I'd probably close it now if it was still in play as now we have increased volume indecision. Still, I'm ahead this morning. Tempted to give it a rest for a few hours. Had EJ longs which I TP on well, now I'm really not sure of direction, so break time

NB2. The increased vol was only on hour changeover. I now suspect we're entering the dead zone range bound few hours, but it's FX so I could very well be wrong!
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RESISTANCE area on H4 chart. 113.30.
TRY to open some short position.
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Everything will be OK in the end,if it is not OK, it's not the end.
My take on this pair, fwiw: price will go up to ~113.75, after which it will fall to ~111.30.

Fingers crossed!
Amor Fati--F. Nietzsche
We have breached resistance folks - at least for the moment
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If you're gonna be a bear, be a grizzly
Quoting warrensapp
We have breached resistance folks - at least for the moment {image}
it's the end of the hour, it will do its best to lie to you.

NB, well it has held up on hour turnover, with increasing vol on hour candle, I'm just not convinced for some reason, probably because I'm not in a trade atm lol.
Quoting hellsbells
{quote} it's the end of the hour, it will do its best to lie to you. NB, well it has held up on hour turnover, with increasing vol on hour candle, I'm just not convinced for some reason, probably because I'm not in a trade atm lol.
....I mean. This is starting to look like a pretty legit uptrend.
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If you're gonna be a bear, be a grizzly
1:46 EST I am seller here now at 113.42 and 45 [if seen ] ...

Good luck crew to all

Quoting warrensapp
{quote} ....I mean. This is starting to look like a pretty legit uptrend. {image}

If there's one thing that I've learnt from FX, is that if it's looking like a sure bet, there's a good chance it's priming to kick your butt. If you're in a long, congrats. If you're aren't in one yet I will also tell you that late entries are a great way to lose money fast. If I was going to long UJ I'd probably wait to see it rejects 113.380 ish zone for entry. Something like that. Personally I still want to sell, even for a scalp. As cogs says the market breathes, and it's highly likely it needs to take a little breath shortly
Quoting warrensapp
{quote} ....I mean. This is starting to look like a pretty legit uptrend. {image}

for me I want it to reach back up to 113.414 and reject it, then I would have test sell. Everyone is different.
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I scalped an EJ short instead, I'm done for the day. Good luck
Double top and clear rejection.
Sold to 112.5.
On H4 it's still looking like HH/HL, to me.

Of course, once the midterm results are out, this thing could go anywhere.

EDIT - short term, it'd need to break 113.10 for me to change my bullish bias.
there it is
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Everything will be OK in the end,if it is not OK, it's not the end.
Another diamond in the chart H1, but now i'll sell between the green lines. Stop loss in the top - 113.42.

EDITED : Or if cross the trendline lower.

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Together we can be strongest
Quoting palpite
Another diamond in the chart H1, but now i'll sell between the green lines. Stop loss in the top - 113.42. EDITED : Or if cross the trendline lower. {image}
.

Sell - 113.11

SL - 113.20


.
Together we can be strongest
Quoting palpite
{quote} . Sell - 113.11 SL - 113.20 .
Loss

.
Together we can be strongest
Quoting palpite
{quote} Loss .
Trying again

Sell - 113.25

SL - 113.42

.
Together we can be strongest
Maybe small SL zone is not a good choice,especially when you try to trade frequently.

After all,the R&S is an area,not a line.
Everything will be OK in the end,if it is not OK, it's not the end.
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