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USD/JPY Discussion

  • #79,101
  • Nov 18, 2018 8:42am Nov 18, 2018 8:42am
Quoting Suj
{quote} Charts tend to be historic most of the times and usdjpy chart is one this time. So most likely looks bearish.unless it is intervened
Looking at fundamentals and sentiment does not mean you ignore the charts...

The weekend gives me a chance to look at all three. Mostly - on most threads, technical analysis is the only thing being discussed, but I want to do deeper research to help reinforce what the charts are showing. The weekend gives me time to do that.
If you're gonna be a bear, be a grizzly
  • #79,102
  • Nov 18, 2018 8:50am Nov 18, 2018 8:50am
I would think it will at least fall to 111.8 this week before anything else happens. Looking back on higher timeframes when price gets to 114.3 (which it did last week) the price seems to always gravitate towards the 111.8 zone.

Bearish weekly engulfing candle (Double top) followed by a failed Higher high on the Daily up trend plus the US index looks fairly weak.

Just my 2c.
  • #79,103
  • Nov 18, 2018 12:17pm Nov 18, 2018 12:17pm
Quoting jacobrownoly
I would think it will at least fall to 111.8 this week before anything else happens. Looking back on higher timeframes when price gets to 114.3 (which it did last week) the price seems to always gravitate towards the 111.8 zone. Bearish weekly engulfing candle (Double top) followed by a failed Higher high on the Daily up trend plus the US index looks fairly weak. Just my 2c.
I agree.

Based of everything from my last post, there are more bearish angles to look at this than there are bullish ones.

There is a scenario however, that it is just temporarily broken out of its up-channel seen in the H2 chart. It has broken the trend before and then returned back into the channel.

Other than that though, I still this think this thing heads down towards the 111.8 mark.
Attached Image (click to enlarge)
Click to Enlarge Name: usdmxn.png Size: 205 KB
If you're gonna be a bear, be a grizzly
  • #79,104
  • Nov 18, 2018 2:37pm Nov 18, 2018 2:37pm
Range
  • #79,105
  • Nov 18, 2018 3:37pm Nov 18, 2018 3:37pm
Yes, it looks like the USD is being sold across the board.

But after this downward leg finishes, I'm guessing the upward trend will resume one more time...before it falls again.
Amor Fati--F. Nietzsche
  • #79,106
  • Nov 18, 2018 3:43pm Nov 18, 2018 3:43pm
If 112.51 is broken (looks like it) get ready your longs 110.65/95
POSTMASTER
  • #79,107
  • Nov 18, 2018 6:29pm Nov 18, 2018 6:29pm
Anyone else see a problematic diagonal TL like i've placed ??

NB I just closed my shorts for small profit, I'm not sure it's ready yet
Attached Image (click to enlarge)
Click to Enlarge Name: 1911.png Size: 95 KB
  • #79,108
  • Nov 18, 2018 7:01pm Nov 18, 2018 7:01pm
Soft 3 candle reversal 30min, possible hour hammer, not jumping long though atm
  • #79,109
  • Nov 18, 2018 8:45pm Nov 18, 2018 8:45pm
Quoting warrensapp
{quote} Looking at fundamentals and sentiment does not mean you ignore the charts... The weekend gives me a chance to look at all three. Mostly - on most threads, technical analysis is the only thing being discussed, but I want to do deeper research to help reinforce what the charts are showing. The weekend gives me time to do that.
I have short from 113.6 my sl is 112.90.. tp haven't decided yet
  • #79,110
  • Nov 18, 2018 10:20pm Nov 18, 2018 10:20pm
If anybody adventurous.it can be a good sell now and have a small sl
  • #79,111
  • Edited 11:04pm Nov 18, 2018 10:37pm | Edited 11:04pm
Quoting Robinhood1
If 112.51 is broken (looks like it) get ready your longs 110.65/95
If it breaks 112.51 can also go back to around 113.00 before reaching 110.65/95. As a swing trader, i am not good at going short for a few pips, only long when time comes for 3 digit profit.
POSTMASTER
  • #79,112
  • Nov 18, 2018 11:09pm Nov 18, 2018 11:09pm
Quoting Robinhood1
{quote} If it breaks 112.51 can also go back to around 113.00 before reaching 110.65/95. As a swing trader, i am not good at going short for a few pips, only long when time comes for 3 digit profit.
Well it does not look at all right now that it is heading to 113. Even if it does it will still give me a profit
  • #79,113
  • Nov 18, 2018 11:30pm Nov 18, 2018 11:30pm
Quoting Suj
{quote} Well it does not look at all right now that it is heading to 113. Even if it does it will still give me a profit
I donīt think it will yet. Its more likely to go down 100 pips before reaching 113.00 but it could reach 113.00 before 110.65
POSTMASTER
  • #79,114
  • Nov 18, 2018 11:44pm Nov 18, 2018 11:44pm
Quoting Robinhood1
{quote} I donīt think it will yet. Its more likely to go down 100 pips before reaching 113.00 but it could reach 113.00 before 110.65
Yup.. Bears have come
  • #79,115
  • Nov 19, 2018 12:21am Nov 19, 2018 12:21am
Quoting Robinhood1
{quote} I donīt think it will yet. Its more likely to go down 100 pips before reaching 113.00 but it could reach 113.00 before 110.65
It now might go straight to 112.40
  • #79,116
  • Nov 19, 2018 12:59am Nov 19, 2018 12:59am
In a tight spot, but maybe it just rejected the 50SMA on daily ?
Attached Image (click to enlarge)
Click to Enlarge Name: uj5.png Size: 71 KB
  • #79,117
  • Nov 19, 2018 1:40am Nov 19, 2018 1:40am
112.4 then 111.80. it has rejected to even go above the opening market candle
  • #79,118
  • Nov 19, 2018 2:09am Nov 19, 2018 2:09am
Quoting Neil0163
Range
We've been stuck in this vicinity for quite a bit now.
Attached Image (click to enlarge)
Click to Enlarge Name: usdmxn.png Size: 238 KB
If you're gonna be a bear, be a grizzly
  • #79,119
  • Nov 19, 2018 2:12am Nov 19, 2018 2:12am
Quoting warrensapp
{quote} We've been stuck in this vicinity for quite a bit now. {image}
Yes. time to move to a diferent neighborhood
POSTMASTER
  • #79,120
  • Nov 19, 2018 2:13am Nov 19, 2018 2:13am
Quoting warrensapp
{quote} We've been stuck in this vicinity for quite a bit now. {image}
Well yeah that shows its in a bearish mood..many traders on a sell today
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