USD/JPY Discussion

Why does my chart have the $DXY at 7 HUNDRED and 18????

Woah, appreciated . I'll try to make setup program for this Data





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Still Learning

Are the bulls in yet or what??

I believe that the bulls need some unexpected news to truly rally. For now all of the news that is coming out surrounds employment, and we knew it was coming and would be bad. So the Indices are still on the rise. Tuesday the Core CPI comes out. The previous visit to those lows (UJ) came at the behest of news. We crashed down, then they took another look and decided the news wasn't so bad and boom we rallied out of the pit. If we close this week out around 105.1, we will most likely visit that 101 low during the coming week. Most likely using the PPI's. From there May 15th is a date the Job openings report comes out. That may be what takes the Indices off their pedestals. Or if it has happened already sends them back up. If memory serves me though that last drop came when we gapped down on a Sunday then continued to the lows before climbing back up on that Tuesday. Be funny if that happens again no?

Fundamentals are used to manifest technical patterns. Be wary of quick moves that take place right before news. In many cases the outcome of the news is already decided by the professional traders. They are often just moving price into the best position FOR THEM. Price went up overnight. Right to a supply level and stayed there until the news came out. Random? I think not.

I don't claim to be a master. I am learning every day. But this is what I see.

seems like 106.25 is holding tight. If it continues to hold and goes back 106.50 this pair will be starting to go back. Hopefully NFP tomorrow either + or - will still be a good buy for the pair.

Looks like more orders to fill at 106.56

Wat do you think? Do you think bears stand a chance?

SS

Yes.

When the waves are coming down faster than it goes up its very possible. its basically the definition of trend - retracement.

In addition to that, it tried to break key points yesterday in the morning and afternoon session but after it went straight back down. That is a 20-30 tick consolidation here (pretty big i would say) for the next move down.

Nonetheless, after the above, you also have NFP were the numbers are most likely more negative than the consensus, which could drive the price down.

The only thing that could save the pair is a breakout of 107.50 which i dont see it happening soon.

Lets wait and see. It could go up after it goes down to 103, but we can obviously discussing here the short term and not the long term.

Thanks

What do you think? Please explain why you are so sure that it will go up? (in the short term) and not break the previous low of 105.98.?

Looking very much forward to your reply.

And two more things.

1) i am being very nice to the pair as i am not including any correlations with other pairs, indices, etc. another reason why it should go down (if i include those correlation)

2) I am also a buyer but i honestly dont believe that now is the right time. I hope i am wrong as i am also in a usdjpy trade. This doesnt really make sense i know. I got in the trade yesterday but i am the type of trader that if it doesnt hit my stop i am not stepping out of the trade.

lets hope for the best

Good morning all.

Last night, during the Asian session, USD.JPY gave me a potential bullish trend signal on the 1-hour chart. (I was asleep of as Im based in London, but saw it after checking charts this morning). The 4-hour chart also gave me a bullish signal and actually one more after 2 more 4-hour candles.

The price has not really moved since, but we may have signs of a potential bullish USD turn. Then again, it's Friday and news day etc. Fridays are tricky. I would prefer if these signals came towards the beginning or middle of the week, not at the very end XD

there are similar signs of a dollar bull in other pairs too. But is it all FAKE NEWS on an NFP Friday?

Man, this looks fucken beautiful RN and I actually bought dips..
More to add.. It's only the start

SS

Do u believe? xD

Could this be short term and back to 106?

Of course it could! The minimum target of the bullish set up has already been achieved or is very close to being achieved, depending on which 1-hour candle one had picked to enter. It's the yen, it's Friday and it's NFP day. Then again, big trends tend to have inauspicious beginnings. If their beginning were obvious to most, they wouldn't develop into trends

The 4-hour chart gave a 4rth bullish signal now, as price is approaching the declining trendline from April 6th high, for the 4rth time.

Alot of UJ traders don't even know what they up against..

Daily close above 107.1811 is a rapid BULL.. Knowing UJ only moves on Fridays, that close may happen today..
Let's see how things pan out

SS

With a 4th bullish signal on the 4-hour charts and still a few hours left to the trading day, sure it can hit and exceed 107. 4 breaks of the high of a 4-hour candle within less than 2 trading days are not a weak signal. And if price breaks lower and invalidates them, reversing the trade to short would also bring good pips. This is where money management is important. Manage risk always

your target is?