USD/JPY Discussion

It seems to me that we all somehow wanted a BUY position but secretly feared it might break the downtrend. My buy at 107,300 seems dead for now. Hope he has some chances to recover after this fall.

This definitely caught me off gaurd. I found myself wondering about that 4hr candle with that HUUUGE tail. Usually happens before a big move, but I didn't want to believe it would go this far. Good thing I sold a little though. Hope everyone survived this. We may need to bounce off of 105.5 if the CB report doesn't turn things.

This is my daily chart. Not so sure though.

Finally we can close some partials here and place BE with a trailing stop.
Cheers.

looks like 106.50 held for now. 107 coming up?

The last FOMC Statement where rate was cut to current level.

106 area

my view, early in the day, supposing price doesn't move that much...

Wow

Hello! I a placed my first trade in USD/JPY just now. Short at 107.10

Expecting another big drop like the one of late February

Hello! I'm back. So this pair reversed up and nearly took out my stop loss which I had set at break-even. It missed it for like 3 pips LOL. Since then, it has come down again, but I don't like the way it's moving. It doesn't look like it is ready to come down big yet, and I doubt it will do it today as it's 1st of the month and a Friday and we;re coming to the end of trading. Most importantly, looking at how he yen moved before the big drop of Feb, I think it may first jump up by a couple hundreds pips to shake out sellers, like it did on Feb 19th and Feb 20th. So I've closed my trade now at 106.80, for only 30 pips profit but hey, it's profit and been a good week so..

What do you guys think this pair will do?

Good night and good weekend from me an my spirit animal, teh golden puffer fish!

Weekly chart shows a breech to the southside that has pulled back. If we don't close below the breech this week, I see UJ rocketting up, then continuing it's way down. 109.4 on the high end IMO

108..

Short UJ. I believe there will be another push downward.

H4

Short?

Still think this is heading up first. But I dont have any positions on this pair atm

I believe JPY will weaken, so yep, I believe this will go up.

Could you tell us why you believe so?

Trade safe.

KP

Quoting YvonneVon

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{quote} I believe JPY will weaken, so yep, I believe this will go up.

Ignored

The stockmarkets do not seem not ready to dive yet. The USD/JPY seems to dive along with the stockmarkets.

The pair made a 200pip 2-day spike on Feb 19th and 20th, before it started declining precipitously. The stock markets started following it a few days later.

I suspect a similar pattern will repeat, with USD/JPU spiking up before declining for real.

Also, the overall movement of USD/JPY over last few days looks like a bear trap to me. It is broadcasting "hey! I am about to fall!" a bit too obviously IMO.

Well, my puffer fish made me take this long here with stop loss 18 pips. Might as well put some money to this gamble!

Will my puffer fish win? Stick around to find out (possibly very soon!)