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USD/JPY Discussion

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Thumbs up for all that remember's the 5 bounce trade. This could be it again. Time will tell.
Technicals and fundamentals, connected it seems to be, hmmm
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Learn, a forex trader must, unlearn and relearn he will.
Quoting BabylonTrade
Upmove? {image}
Depending on the news that comes out today, not sure if there will be an upmove, I would say more likely to go down
defeat can still be profitable
new method testing Return This Month: na
Guys.. Zoom out on the 4hr. You will see an inverted Head and shoulder's pattern with us currently in a long bouncing shoulder/torso. If you notice before we dipped down to form the head at 106.9 we were in a range for a bit as well. IMO we are in this range until the end of the month. Bottom 107.53 - 107.8. Top 108.8. Until then all indicators are going to do is take your money as they will give false breakout triggers. Remember... Money Makers also have indicators.. and even worse, they know how to manipulate them!! If my prediction is right we will end the month at the top of the range and BOHICA our way down if Powell does the 50 basis points. Up if he only does the 25. I am leaning towards the 25 though, as he and 45 seem to be butting heads, and 50 would be giving him what he wants.



BOHICA
Bend
Over
Here
It
Comes
Again
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When you feel like you HAVE to trade is when you least should!
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well that 5 bounce was not as fun as last time the "M" formation at at then end of a trend no matter the size is very important with this pair. it identifies the end of one section and the beginning in another. And a fairly equal double top with a pullback before breaching the most current low could indicate that its powering up for a significant move lower, with momo.
107.85-80 is an good spot to watch. not really sure at this point. I going to lighten it up and take a nibble long.
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It , bounced off of 107.85 with little conviction, I renumbered the 5 bounce trade it could still be in play.
edit:
just moved everything down to 107.71 still don't see capitulation.
107.5 is probably the next support target today
Don't Worry Be Happy
107.71 got filled, imo capitulating, going to stick with it for a while longer,
#USDJPY / H4 / Bearish Idea
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Downward momentum is slowing, we may see a little swing back to 108, especially when UK and US opening with people settling their short positions.

But I will look for new opportunities to sell again. The drop is not done yet.
Expect the unexpected; take your profit and run.
USD / JPY is supported by the Tenkan line, does not want to fall below it. Probably by the end of the day USD / JPY will move up. Tenkan turned up, the stochastics went out of the overbought zone, but the price did not go far. Stochastic is ready to move up now. Price repels Tenkan. All this speaks in favor of bulls.
Н1
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Quoting CassandraK
USD / JPY is supported by the Tenkan line, does not want to fall below it. Probably by the end of the day USD / JPY will move up. Tenkan turned up, the stochastics went out of the overbought zone, but the price did not go far. Stochastic is ready to move up now. Price repels Tenkan. All this speaks in favor of bulls. Н1 {image}
We will see. You need a Plan

See you
Quoting Ss0
{quote} We will see. You need a Plan See you
And some horizontal lines...


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NFP and FOMC days highs and lows

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Current daily H1 Highest Open and Lowest Open

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Trading simple as 1-2-3
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
If today Close Daily Candle break 107.885, price can test 107,2xx

Just my opinion
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nice move against usd
TE started 6/4/19
Price Signal Consulting All Time Pips: 763
  • Post #80,857
  • Quote
  • Edited Jul 19, 2019 12:37am Jul 18, 2019 3:05pm | Edited Jul 19, 2019 12:37am
That Powell Put is Skrong like bear.
When you feel like you HAVE to trade is when you least should!
Quoting CassandraK
USD / JPY is supported by the Tenkan line, does not want to fall below it. Probably by the end of the day USD / JPY will move up. Tenkan turned up, the stochastics went out of the overbought zone, but the price did not go far. Stochastic is ready to move up now. Price repels Tenkan. All this speaks in favor of bulls. Н1 {image}
going down today, I think that 107 will be broken soon
Don't Worry Be Happy
Quoting MrPresident
{quote} going down today, I think that 107 will be broken soon

Yeppers. Yield invert. Drones shot, FOMC folks a talkin, and tomorrow morning consumer confidence. Something wicked this way comes methinks. Could pose a good buying opportunity once it bottoms out. Weekly shows promise..
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When you feel like you HAVE to trade is when you least should!
Quoting TooSlow
{quote} And some horizontal lines... {image} NFP and FOMC days highs and lows {image} Current daily H1 Highest Open and Lowest Open {image} Trading simple as 1-2-3
Haha OK Nice One
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