USD/JPY Discussion

There you go. And down it goes. No support after 106. Ready for free fall!

Did you say free fall? Lol Please don't crack me up so early

Whoever entered the USDJPY southward early enough would have a good day today.

KP

I was waiting for a pullback to the 107.100 area.

KP

Quoting KeenPips

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Whoever entered the USDJPY southward early enough would have a good day today. KP

Ignored

Today?

Please guys

wait...
let me scalps some long first

Yes, mate! A lot of room southward and with the D1 and W1 tfs technically synced.

KP

Quoting JayBag

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{quote} Today? Please guys

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In honesty, the only space we have is UP.. There's a lot of space UP there..

I will come back to your post in a few days.
SS

agreed with you bud..
bigger tF is south play..
only some scalps play for long side

Good day all, I am new to this forum (however been using Forex Factory Calendar for years) been trading Live for 6 years.
I post weekly analysis and Live account trades on my YouTube page.

My analysis was satisfied on this pair so I opened a short position on Monday 4/5/20 @ 1Lot. I post weekly vlogs and if my vlogs helps, enjoy it. I have also just shorted the GBPJPY as my strategy was satisfied and I will post about this on Monday 11/05. Thank you all.

https://youtu.be/S1M4E0LXD7E

Mate, we are not talking about swing trading. I'm a swing trader but I do some day-trading, say about 20-25% of my trading; we are talking about today. You may have a brief pullback but the technicals still favour bears.

Trade safe.

KP

Quoting JayBag

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{quote} In honesty, the only space we have is UP.. There's a lot of space UP there.. I will come back to your post in a few days. SS

Ignored

Well, I am talking about a possible 500pip swing to the north.. I will stack a huge LOT soon as I get a H1 break above 106.40221..


SS

I agree that bears are in favor right now. Any pullback will be triggered after 106.45. But definitely good trades whoever kept the shorts from 108-107.

For swing trading, I get your point. But for me, I will wait for the weekly close before thinking of any swing trading. If we get an extended M-formation on the daily time frame, a swing trading opportunity may present itself next week.

Stay well, trade safe.

KP

Quoting JayBag

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{quote} Well, I am talking about a possible 500pip swing to the north.. I will stack a huge LOT soon as I get a H1 break above 106.40221.. SS

Ignored

Yes, if the short trade has been kept from 107.100 or earlier.

KP

Quoting dimadono

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{quote}...But definitely good trades whoever kept the shorts from 108-107.

Ignored

On another note.

If we go back and check the dollar index, we will see that in the past 2 days there is positive momentum with eur/usd and gbp/usd going down. The fact that usd/jpy is holding gives a lot of seller pressure and possibly a target less than 106. If that doesnt change then we can see worst numbers as we dont know for how long the dollar will remain strong.

Well at least you are waiting for that. Because 105.5 is on deck.

break after break after break after break

Next Target 101

Looking at the major indices, we seem to be in opposition to them. The Dow, and Nasdaq both had good weeks. Once that is over we will rise. Sometimes UJ and the indices dance together. Sometimes they are in opposition. This is leaning towards a dive in the indices soon which makes sense as I think it is overbought. I have yet to hear one economist who has a confirmed reason why we are on a tear higher in the midst of an epidemic lockdown. For now I see us visiting 105.1 area. It is the 38 percent fib off the recent highs and lows. If you look at it we are in a classic Fib level climb down leading one to believe we are on our way back to the low having already hit the high again. We are currently at the location we were the day before that gap down that lead us to the lows (100.857). I will upload a screenshot later, but we all have charts.. pull up a daily! Long sentiment is currently at 73 percent. I feel it will be at 85 to 90 when we hit 105.1. It is around that time it will shoot down to the lows to shake out longs then fly back up.
Spanking myself for not drawing that Fib earlier.
Patience is key here guys. Impatience leads to "wish trading", and to losses. I suffer from this as well. Working on it. lol