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USD/JPY Discussion

  • #81,181
  • Aug 19, 2019 2:28pm Aug 19, 2019 2:28pm
It entrenched above the Tenkan red line. Obviously, USD / JPY is moving towards the Kijun blue line. Stochastic is already close to 80. A rebound from the Kijun blue line is possible. USD / JPY will be in channel 105-107 for now.

Daily
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  • #81,182
  • Aug 20, 2019 6:24pm Aug 20, 2019 6:24pm
How does anyone see the USD/JPY moving?
Right now it sits around 106.25.
Will it go to lower 105s straight, or will it retrace to something like 107.20 first?

Sorry for the newb question take it as a poll

Thanks!!
MarginTrader All Time Return: na
  • #81,183
  • Aug 20, 2019 6:30pm Aug 20, 2019 6:30pm
Quoting MaryJane
Will it go to lower 105s straight, or will it retrace to something like 107.20 first?
My bet is straight down (i.e. without making a HH, in this case 106.70)
MarginTrader All Time Return: na
  • #81,184
  • Aug 20, 2019 7:57pm Aug 20, 2019 7:57pm
Quoting MaryJane
{quote} My bet is straight down (i.e. without making a HH, in this case 106.70)
Hi
I am waiting for a big and sharp raise happen soon.
  • #81,185
  • Aug 20, 2019 9:46pm Aug 20, 2019 9:46pm
Quoting MaryJane
How does anyone see the USD/JPY moving? Right now it sits around 106.25. Will it go to lower 105s straight, or will it retrace to something like 107.20 first? Sorry for the newb question take it as a poll Thanks!!
//-----

hey mary...... fomc tomorrow at 1pm cst...... so the usdjpy is at their mercy.....

fwiw, i was expecting 5 down days...... but again, my technical based reasoning is worthless with jackson hole fundamentals in only 15 hours.....

however, i have a few petite longs in a few accounts.....no real money at risk......h
//------
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to trade and code, keep both simple... no call to impress....h
  • #81,186
  • Aug 21, 2019 12:48am Aug 21, 2019 12:48am
I'm already buying since 105.16. Target around 107.xx - 108.00.
  • #81,187
  • Aug 21, 2019 7:48am Aug 21, 2019 7:48am
i think that there are two outcomes this week for USD/JPY

1. the FED is not dovish and does not expect to lower interest rates further this year, causing the market to sell-off

2. the FED is dovish, states that there is a recession risk, and cuts interest rates further this year, causing panic and a sell-off

bulls could be trapped in both cases

Trump probably knows what is going to happen this week with the FED and he isn't happy
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Don't Worry Be Happy
  • #81,188
  • Aug 21, 2019 8:03am Aug 21, 2019 8:03am
Powell doesn't like to be bullied nor any other FED chair. He will do as he pleases.
MY GRID. Markets are NOT random.
  • #81,189
  • Aug 21, 2019 8:11am Aug 21, 2019 8:11am
Quoting tonyb123
Powell doesn't like to be bullied nor any other FED chair. He will do as he pleases.
Trump can do what he wants as the president, even fire Powell or intervene directly in the market to try and weaken the US dollar
Don't Worry Be Happy
  • #81,190
  • Aug 21, 2019 8:36am Aug 21, 2019 8:36am
Quoting MrPresident
{quote} Trump can do what he wants as the president, even fire Powell or intervene directly in the market to try and weaken the US dollar
He can fire Powell but he cannot directly intervene in the market per se.

But he won't fire him due to political reasons.

Should he? yes.
MY GRID. Markets are NOT random.
  • #81,191
  • Aug 21, 2019 9:45am Aug 21, 2019 9:45am
Quoting tonyb123
{quote} He can fire Powell but he cannot directly intervene in the market per se. But he won't fire him due to political reasons. Should he? yes.
He can intervene to make the dollar weaker.

https://www.bloomberg.com/news/artic...y-intervention

Quote
President Donald Trump said he had not ruled out measures to counter the dollar’s strength and noted that while it was a “beautiful thing” to have a strong currency, it makes U.S. exports more expensive.
“I didn’t say I’m not going to do something” on the dollar, Trump told reporters Friday in the Oval Office. “The dollar is very strong, the country’s very strong, the dollar -- it’s a beautiful thing in one way, but it makes it harder to compete.”
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Don't Worry Be Happy
  • #81,192
  • Aug 21, 2019 1:01pm Aug 21, 2019 1:01pm
Might go bull
  • #81,193
  • Aug 21, 2019 1:10pm Aug 21, 2019 1:10pm
Quoting Suj
Might go bull
i'm waiting for the bear
Don't Worry Be Happy
  • #81,194
  • Aug 21, 2019 1:20pm Aug 21, 2019 1:20pm
Powell's remarks, market respects, mmmm
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Learn, a forex trader must, unlearn and relearn he will.
  • #81,195
  • Aug 21, 2019 1:29pm Aug 21, 2019 1:29pm
Quoting MrPresident
{quote} i'm waiting for the bear
Tough one.looks to be retracing up
  • #81,196
  • Edited 4:05pm Aug 21, 2019 3:54pm | Edited 4:05pm
Quoting Suj
{quote} Tough one.looks to be retracing up
doesn't look like it will retrace higher

yield curve doesn't look good either since it can predict a recession and the market might buy JPY due to risk-off

https://www.gurufocus.com/yield_curve.php

https://www.cnbc.com/2019/08/21/us-b...g7-summit.html

Quote
Fears of an economic slowdown appeared to resurface Wednesday afternoon, when the release of the Federal Reserve’s July meeting minutes reiterated officials’ belief that its July rate cut was just a “mid-cycle adjustment.”
Don't Worry Be Happy
  • #81,197
  • Aug 21, 2019 9:29pm Aug 21, 2019 9:29pm
I just bought USDJPY.

Entry : 106.452

stop loss: 30 pips

Targeting previous support on daily time frame at 107.19
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  • #81,198
  • Aug 21, 2019 9:53pm Aug 21, 2019 9:53pm
Quoting pipcenturion
I just bought USDJPY. Entry : 106.452 stop loss: 30 pips Targeting previous support on daily time frame at 107.19 {image}
Defo a good place to buy. My stop is at 106.3
  • #81,199
  • Aug 22, 2019 5:02am Aug 22, 2019 5:02am
Quoting pipcenturion
I just bought USDJPY. Entry : 106.452 stop loss: 30 pips Targeting previous support on daily time frame at 107.19 {image}
Looks your trade is still on.
  • #81,200
  • Aug 22, 2019 6:17am Aug 22, 2019 6:17am
Quoting MrPresident
{quote} i'm waiting for the bear
The bear is back, as predicted
Don't Worry Be Happy
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