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USD/JPY Discussion

Quoting OBsayMkMoney
Shorts closed. All in profit but the two I got snuckered into days ago. Just in time for FRIDAYYYYYY. If it weren't for Corona I would take the day off. But what else do I have to do right???

Congratulations...and nice way of putting it (Friday) ....one can only play with belly button lint for so long!!
Hope you find some enjoyment...very crucial and critical at this time
Quoting kaiser soze
{quote} Congratulations...and nice way of putting it (Friday) ....one can only play with belly button lint for so long!! Hope you find some enjoyment...very crucial and critical at this time
Indeed. I am in introvert, so this is like giving me too much of something good lol. I have a belly ache from all this good solitude! I have my son though. He makes me laugh almost daily. Hope you are doing well in your neck of the woods too. Bellybutton lint makes great yarn for sweaters!

I ended up going long. I mean it is RIGHT THERE. For now I see higher lows on the 1hr. So.. Long TP around 107.6-108 area. If we follow the previous range (shown in a previous post) we could bounce around here until the traders are ready to go to their Hamtons vacation homes in late May. A lot of activity usually right before the summer vacay.

Anyone thinking of duplicating my trade, keep in mind I am ready should price decide to fly down to 107.1 before it goes long. If that happens these longs here will be at the top of my rack as I add on
When you feel like you HAVE to trade is when you least should!
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Monthly perspective....HUGE move on the way, but could be weeks, could be months. But with market condition (virus) I am biased to the buy side.....
Quoting OBsayMkMoney
Shorts closed. All in profit but the two I got snuckered into days ago. Just in time for FRIDAYYYYYY. If it weren't for Corona I would take the day off. But what else do I have to do right???
Better as you closed you usd/gpy short on time, once market open next week is heading up till 107.8125 about 36pips.
bakare
Quoting dondealova
ok..i'm done..set SL+ @107.93 TP Open {image}

You had a (possible) rejection of a higher price with 2 trades locked with SL in profit, with open TP pending further PA. I think that's great trading. Review trade before close of trading, possibly close, and done.
There is a complex wave b forming and the price has to still head up to 114.xx price level before the wave C which is a bearish move will commence... this is a zigzag correction type with complex wave b.
so for the weeks to come, I am gonna go Bullish till the anticipated price is filled before I expect a fall.
watching critically, you would see that it is a range that is about to be filled to the resistance again before a bearish break = wave c
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Here's my take on the USDJPY. The USDJPY market is presently sideways but under a bearish pressure. The sideways of price action is prominent on the H4 time frame. The 108.280/107.000 horizontal range (magenta) should be watched; a bullish breakout from the range may see bulls target the 50 Fib zone around 109.250 while its breakdown by bears may lead to a southward continuation.


I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
Quoting KeenPips
Here's my take on the USDJPY. The USDJPY market is presently sideways but under a bearish pressure. The sideways of price action is prominent on the H4 time frame. The 108.280/107.000 horizontal range (magenta) should be watched; a bullish breakout from the range may see bulls target the 50 Fib zone around 109.250 while its breakdown by bears may lead to a southward continuation. I may be wrong. Trade safe and prosper. KP {image}

Yep!!!! Look to the past peeps. IMO range for three weeks breaking out to bottom enough to excite bears, bouncing off 105.6, then upward to 112. 114 seems rich. December is 114 time.

https://www.forexfactory.com/attachm...1&d=1587682554
When you feel like you HAVE to trade is when you least should!
Quoting adexadams
{quote} Better as you closed you usd/gpy short on time, once market open next week is heading up till 107.8125 about 36pips.
I agree, but for the unfinished move back to 107. One thing trading value areas has taught me is when price leaves the edge, if it hesitates, it usually goes back to the edge it came from. I am looking for a possible gap down.. move up, then down to bounce off 107.

If the weekly has merit 108.2 will be a target.




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When you feel like you HAVE to trade is when you least should!
Quoting OBsayMkMoney
{quote} I agree, but for the unfinished move back to 107. One thing trading value areas has taught me is when price leaves the edge, if it hesitates, it usually goes back to the edge it came from. I am looking for a possible gap down.. move up, then down to bounce off 107. If the weekly has merit 108.2 will be a target. {image}
Okay Gap up... close gap then up. lol
When you feel like you HAVE to trade is when you least should!
Quoting OBsayMkMoney
{quote} Okay Gap up... close gap then up. lol
Guys, how low do you think this will go?
Quoting OBsayMkMoney
{quote} I agree, but for the unfinished move back to 107. One thing trading value areas has taught me is when price leaves the edge, if it hesitates, it usually goes back to the edge it came from. I am looking for a possible gap down.. move up, then down to bounce off 107. If the weekly has merit 108.2 will be a target. {image}


107-106.8

Current value area. Drawn from last time we were here.. No news to push us out. My opinion only of course.

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Heavy SR on daily here.
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When you feel like you HAVE to trade is when you least should!
Quoting eleufski
I have this view on USDJPY. {image}
If you enter my analysis you should be in profits.
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USD/JPY again touched 107.0 after 107.3 breaching.
The bullish target is 107.60-70(MA250 1H and 0.382Fib) in case of 107.3 breaching, and further 108.0(MA100 4H).
But the bearish option is more interesting. In case of 107.0 breaching, I'd open short to 106.5(0.5Fib) and 105.25.
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#Anthonywins
Quoting AnthonyWins
USD/JPY again touched 107.0 after 107.3 breaching. The bullish target is 107.60-70(MA250 1H and 0.382Fib) in case of 107.3 breaching, and further 108.0(MA100 4H). But the bearish option is more interesting. In case of 107.0 breaching, I'd open short to 106.5(0.5Fib) and 105.25. {image}
Any chance to go lower to 104 level? I still hold my short from 111.xx
Quoting markofrose
{quote} Any chance to go lower to 104 level? I still hold my short from 111.xx
I suppose it's too early to talk about reaching 104 area (I'd pay attention to 104.5, August 2019 low) before the levels 106.5 (0.5Fib) and 105.25 (0.618Fib) are not broken.
#Anthonywins
Nice big 4 hour channel. Could go back up to top if it breaks thru lessor resistance line.
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Maybe why not tomorrow is data rich day. tomorrow will show
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