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USD/JPY Discussion

  • #80,061
  • Mar 5, 2019 9:43pm Mar 5, 2019 9:43pm
Quoting msniper
I take back what I said about being bearish in USDJPY for me UJ is bullish and I will wait for any drop to buy the dips we should see 113 to 114 soon it might drop to 110.70 to 111.40 but that doesn't scare me the main direction is up
Hi msniper,

I actually agree with your earlier view on USDJPY being bearish. Well, for short-term at least.
USDJPY may potentially form a Double Tops.. yes, this is not confirmed yet.. but I also view its correlation with other JPY pairs, ie. CADJPY has earlier went down 140+ pips from its high; EURJPY also has went down 120+ pips; GBPJPY has went down 160+ pips; AUDJPY and NZDJPY also having some pullbacks now.

USDJPY seems to be lagging behind OR it is showing some resistance to JPY.. but if the Double Tops is later confirmed, to me personally then it is a great chance to ride the bear (as I missed shorting the other JPY pairs earlier). We'll see.

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Cheers.
  • #80,062
  • Mar 5, 2019 9:50pm Mar 5, 2019 9:50pm
Quoting fx4money
still focus on buying.
Agree. Personally I would like to see activity return to the 111 - 110.50 range. Assuming I'm still bullish, I believe it could provide a good opportunity to buy.

Buyers, I believe, will slowly return price to the 113.60 range. Does anyone know the fundamental logic that caused the December dip?
Humans are naturally hardwired to avoid and detest uncertainty.
  • #80,063
  • Mar 6, 2019 2:01am Mar 6, 2019 2:01am
Quoting CannonScout
{quote} Agree. Personally I would like to see activity return to the 111 - 110.50 range. Assuming I'm still bullish, I believe it could provide a good opportunity to buy. Buyers, I believe, will slowly return price to the 113.60 range. Does anyone know the fundamental logic that caused the December dip?
I guess the flash crash was caused by bankers clearing their carry trade positions before starting new round.
LUCKY golden trades, LUCKY gold investor trading style
  • #80,064
  • Mar 6, 2019 6:17am Mar 6, 2019 6:17am
Quoting fx4money
{quote} I guess the flash crash was caused by bankers clearing their carry trade positions before starting new round.
Probably. But there's always some analyst out there who attaches a fundamental reason to it.

Just really want a good price of entry. If I don't get the price I want I don't trade. But damn I do miss out on a lot.
Humans are naturally hardwired to avoid and detest uncertainty.
  • #80,065
  • Mar 6, 2019 6:20am Mar 6, 2019 6:20am
Quoting CannonScout
{quote} Probably. But there's always some analyst out there who attaches a fundamental reason to it. Just really want a good price of entry. If I don't get the price I want I don't trade. But damn I do miss out on a lot.
Better to miss a big gain than catching a big loss
  • #80,066
  • Mar 6, 2019 10:10am Mar 6, 2019 10:10am
Quoting palpite
. Sell - 111.90 TP - 111.35 SL - 112.20 .
.

Trade closed in 111.75

.
Together we can be strongest
Vantage Return This Month: na
  • #80,067
  • Mar 6, 2019 10:55am Mar 6, 2019 10:55am
maybe 111 will be the bottom but it doesn't look like a bear market today, it is still in a range
Don't Worry Be Happy
  • #80,068
  • Mar 6, 2019 10:56am Mar 6, 2019 10:56am
Quoting CannonScout
{quote} Does anyone know the fundamental logic that caused the December dip?
FF calendar, you should use, hmmm.

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Quoting MrPresident
{quote} i disagree
All around us buyers and sellers exist, some for 10 pips others for 100s of pips. Agree or disagree matters not. Follow your chart, let it guide you. See a higher USD, follow that.

My true ally is the chart, my true ally shows oil is up, bonds are down, market volatility is rising.

Important price point 112-112.66, is. On December 19th, the day the FED increased rates, when price was at this point, the USDJPY pair then accelerated downwards.

Each time the FED has increased rates the market will make a push in either direction the following monday. Once price retraces back to the rate hike price, making a double touch, price will then bounce off this point. In this case 112-112.6 is that point.

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Learn, a forex trader must, unlearn and relearn he will.
  • #80,069
  • Mar 6, 2019 12:24pm Mar 6, 2019 12:24pm
very low volatilily but it may crash at Asia session..i look for short here only..
  • #80,070
  • Mar 6, 2019 11:46pm Mar 6, 2019 11:46pm
Quoting COGSx86
{quote} FF calendar, you should use, hmmm. {image} {image} {quote} All around us buyers and sellers exist, some for 10 pips others for 100s of pips. Agree or disagree matters not. Follow your chart, let it guide you. See a higher USD, follow that. My true ally is the chart, my true ally shows oil is up, bonds are down, market volatility is rising. Important price point 112-112.66, is. On December 19th, the day the FED increased rates, when price was at this point, the USDJPY pair then accelerated downwards. Each time the FED has increased rates...
Decide you must, how to trade this best. If you go long now, help your position you could; but you would destroy all chance to profit from repatriation for which they have fought, and suffered.
Ecclesiastes 1:9
  • #80,071
  • Edited 1:30am Mar 7, 2019 1:19am | Edited 1:30am
I see some resistance at 111.80, then 112.50....nothing interesting support wise, cheers...
111.30/35 seems like a decent support
Look Sharp/Trade Tight
  • #80,072
  • Mar 7, 2019 9:17am Mar 7, 2019 9:17am
selling is not that intense and all I see is consolidation on the chart from 111.4 to 112.2, bulls still don't want to turn into bears
Don't Worry Be Happy
  • #80,073
  • Mar 7, 2019 8:48pm Mar 7, 2019 8:48pm
The USDJPY found a good resistance around the 112.00 level, but the bullish trend is still in place. If the price continues dropping, the 200 day EMA at the 111.00 level could act as support.
  • #80,074
  • Mar 8, 2019 12:10am Mar 8, 2019 12:10am
I bought the 1st package 111.01 and I will add more if it goes to 110 or even below

target is 113.xx to 114.xx
  • #80,075
  • Mar 8, 2019 1:23am Mar 8, 2019 1:23am
Quoting PayTheLimit
I see some resistance at 111.80, then 112.50....nothing interesting support wise, cheers... 111.30/35 seems like a decent support
not that decent, new R now at 111.60/65 perhaps....
Look Sharp/Trade Tight
  • #80,076
  • Mar 8, 2019 1:47am Mar 8, 2019 1:47am
Quoting citizenjack
{quote} Hi msniper, I actually agree with your earlier view on USDJPY being bearish. Well, for short-term at least. USDJPY may potentially form a Double Tops.. yes, this is not confirmed yet.. but I also view its correlation with other JPY pairs, ie. CADJPY has earlier went down 140+ pips from its high; EURJPY also has went down 120+ pips; GBPJPY has went down 160+ pips; AUDJPY and NZDJPY also having some pullbacks now. USDJPY seems to be lagging behind OR it is showing some resistance to JPY.. but if the Double Tops is later confirmed, to me personally...
Done. Both TP reached.

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Cheers.
  • #80,077
  • Mar 8, 2019 1:47am Mar 8, 2019 1:47am
I'm liking how this is looking. Immediately I would like to buy 110.6 but would require a lot of validation/confirmation. Many buyers still.
Humans are naturally hardwired to avoid and detest uncertainty.
  • #80,078
  • Mar 8, 2019 1:52am Mar 8, 2019 1:52am
someone gonna smash USD today !!! lol
  • #80,079
  • Mar 8, 2019 2:02am Mar 8, 2019 2:02am
Quoting CannonScout
I'm liking how this is looking. Immediately I would like to buy 110.6 but would require a lot of validation/confirmation. Many buyers still.
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The Trend Is Your Friend
  • #80,080
  • Mar 8, 2019 2:03am Mar 8, 2019 2:03am
I forgot to write that the quote makes sense to me in the last post...
The Trend Is Your Friend
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