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USD/JPY Discussion

  • #80,101
  • Mar 13, 2019 11:15am Mar 13, 2019 11:15am
Quoting newbegger
{quote} 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.
Been selling into the repatriation. Many economists say the repatriation not a big deal anymore as Japan now building overseas but it's still a valid trading strategy. Old dogs, new tricks?

Now we get the fish hook pattern, trying to hook retail traders into longs before the movers take it into deep dive. I will continue short into last week in March unless it turns and "slowly" builds a bull market.

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 49 KB
Ecclesiastes 1:9
  • #80,102
  • Mar 13, 2019 12:36pm Mar 13, 2019 12:36pm
not much movement today, i guess bankers are waiting for brexit vote again.
LUCKY golden trades, LUCKY gold investor trading style
  • #80,103
  • Mar 13, 2019 6:43pm Mar 13, 2019 6:43pm
Quoting msniper
{quote} I am hoping we see down move first I have pending buy at 110.35 & 109.95 & 109.35 I hope one of them to be activated target 113.50 to 114.50
After what happened yesterday with the EURUSD i'll leave the market close this trade for me.

TP - 1.12

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  • #80,104
  • Edited Mar 14, 2019 12:46am Mar 13, 2019 11:52pm | Edited Mar 14, 2019 12:46am
Quoting newbegger
{quote} Been selling into the repatriation. Many economists say the repatriation not a big deal anymore as Japan now building overseas but it's still a valid trading strategy. Old dogs, new tricks? Now we get the fish hook pattern, trying to hook retail traders into longs before the movers take it into deep dive. I will continue short into last week in March unless it turns and "slowly" builds a bull market. {image}
Adding a little more shorts here at 111.57. This does not always work. As I recall, I got burned in 2002 and I remember 2011 not profitable.

But I made more than I lost so keep truckin on
Ecclesiastes 1:9
  • #80,105
  • Mar 14, 2019 3:01am Mar 14, 2019 3:01am
Quoting newbegger
{quote} Adding a little more shorts here at 111.57. This does not always work. As I recall, I got burned in 2002 and I remember 2011 not profitable. But I made more than I lost so keep truckin on
I'm out, I had some longs but took profit waaaayyyy too early story of my life. Then tried some shorts and got burnt. Keep truckn on. ;-)
  • #80,106
  • Mar 14, 2019 9:05am Mar 14, 2019 9:05am
I thought this would surge and make a breakout attempt at 112 again, but bad home sales data seems to be pegging it back.
  • #80,107
  • Mar 14, 2019 9:06am Mar 14, 2019 9:06am
BOJ will be out with a monetary policy decision in the next Asia trading session which could possibly make the pair go up to test 112 again and then come back down once the market realizes that there will be no changes
Don't Worry Be Happy
  • #80,108
  • Mar 14, 2019 4:13pm Mar 14, 2019 4:13pm
sell 111.00 ,, tp 109
  • #80,109
  • Mar 14, 2019 10:10pm Mar 14, 2019 10:10pm
Attached Image (click to enlarge)
Click to Enlarge Name: yodausdjpy.jpg Size: 46 KB
Learn, a forex trader must, unlearn and relearn he will.
  • #80,110
  • Mar 14, 2019 10:43pm Mar 14, 2019 10:43pm
"Bank of Japan expected to wait-and-see as clouds gather over global economy"

https://www.foreignbrief.com/daily-n...lobal-economy/

Possible further consolidation,with a bias upwards, until wednesday's Fed Funds Rate, being unchanged.
Learn, a forex trader must, unlearn and relearn he will.
  • #80,111
  • Mar 14, 2019 11:17pm Mar 14, 2019 11:17pm
still prefer buying uj, buy 2, sell 1.
LUCKY golden trades, LUCKY gold investor trading style
  • #80,112
  • Mar 15, 2019 12:56am Mar 15, 2019 12:56am
it will rain ,, in cloud 9 !!
  • #80,113
  • Mar 15, 2019 1:42am Mar 15, 2019 1:42am
Quoting PayTheLimit
{quote} still think there might be some R at 111.60/65, but I'm not interested anymore....
saved myself some money by laying off, some R up here at 111.90, but mostly up this week...good weekend to all...
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  • #80,114
  • Mar 15, 2019 10:11am Mar 15, 2019 10:11am
usdjpy looking like just had a shakeout, if so should be good up move
  • #80,115
  • Mar 17, 2019 10:53pm Mar 17, 2019 10:53pm
Closing the shorts now for a modest gain but rollover ate a lot in profit.

I am not liking the price action as seems to be weak ask when the USD is selling off on all other pairs. Someone is selling yen?

I am not sure if there is any time left to sell this pair before the cycle is complete so I am switching to buying lows,

Small short orders at 111.20
Ecclesiastes 1:9
  • #80,116
  • Edited 2:30am Mar 18, 2019 2:17am | Edited 2:30am
Quoting newbegger
Closing the shorts now for a modest gain but rollover ate a lot in profit. I am not liking the price action as seems to be weak ask when the USD is selling off on all other pairs. Someone is selling yen?
I may have read your post wrong but....I am not sure if there is any time left to sell this pair before the cycle is complete so I am switching to buying lows, Small short orders at 111.20
not sure on that logic. if all pairs are selling off against usd, but jpy is staying up then surely logic is that someone who knows better is buying (usdjpy) on weakness of usd. if usdjpy was also being sold of it also would be falling. that idea comes from one of the old boys, livermore/wyckoff cant remember which.

I may have read your post wrong and we may actually be in agreement if you are questioning "if someone is selling the yen"!!
  • #80,117
  • Edited 11:38pm Mar 18, 2019 11:05pm | Edited 11:38pm
Quoting PaulVic
{quote} not sure on that logic. if all pairs are selling off against usd, but jpy is staying up then surely logic is that someone who knows better is buying (usdjpy) on weakness of usd. if usdjpy was also being sold of it also would be falling. that idea comes from one of the old boys, livermore/wyckoff cant remember which. I may have read your post wrong and we may actually be in agreement if you are questioning "if someone is selling the yen"!!
My comment is based on the Yen repatriation cycle which may not be a force anymore it used to be in March. The exporters should be on the buy for yen, not on the ask or sell.

I noticed usdjpy not going down (indicating yen weakness) when all of the other usd pairs are getting stronger against usd. So I am starting accumulation of usd early in anticipation. I prefer getting ahead of the crowd that is trying to get ahead of the crowd, if that makes sense.
Ecclesiastes 1:9
  • #80,118
  • Mar 19, 2019 1:46am Mar 19, 2019 1:46am
Quoting newbegger
Closing the shorts now for a modest gain but rollover ate a lot in profit. I am not liking the price action as seems to be weak ask when the USD is selling off on all other pairs. Someone is selling yen? I am not sure if there is any time left to sell this pair before the cycle is complete so I am switching to buying lows, Small short orders at 111.20
I will be adding to this long, The movers refused to let my orders run down so now I can take advantage of their algos and buy low after they released profits.

Cannot hold price one way and not expect other movers to eat your lunch. Time to get on the May Day trade!
Ecclesiastes 1:9
  • #80,119
  • Edited 3:46am Mar 19, 2019 3:10am | Edited 3:46am
There has been bad news in Japan regarding business. I wonder if UJ becomes stronger. This will hurt them even more. This is forex anything can happen
  • #80,120
  • Mar 19, 2019 5:05am Mar 19, 2019 5:05am
We could be bearish heading for 111/110 levels.but maybe brexit may play a role here
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