JPY Group - Best Group to Trade | Forex Factory

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JPY Group - Best Group to Trade

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  • #1
  • First Post: Jul 9, 2020 9:49pm Jul 9, 2020 9:49pm
There is no Forum here that is encouraging Traders to trade the least risky way.
Which explain why there is such a high Percentage of losing retail Traders...over 95%?

Here I aim to use the JPY group to help Traders learn the art of Selecting the best pair from a group.

Lets look at current Position from these Trading View charts
Attached Image (click to enlarge)
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  • #2
  • Jul 9, 2020 9:53pm Jul 9, 2020 9:53pm
As we can see USDJPY is the leader of the Pack so its best to see what the UJ candle is saying do get a better idea of direction of the group and the timing.

My read on the Uj candle is that its a double doji...that may not be the classic name for it but for convenience I will call it that.

This means UJ is highly likely to push down further before fall Bull Move.

Confluence this with either DXY or Current fundamental Economic climate and this becomes clearer.
  • #3
  • Jul 9, 2020 10:28pm Jul 9, 2020 10:28pm
Coming out of the JPY Group here is what an easy 100pips on CADJPY looks like!

Sell now to target 77.00 area
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  • #4
  • Jul 9, 2020 10:45pm Jul 9, 2020 10:45pm
M30 EJ is Interestingly Poised

Clearly Flagged up but its best to wait for price to get out the current range before swinging down otherwise the best trade is at the top of the flag
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  • #5
  • Jul 9, 2020 10:47pm Jul 9, 2020 10:47pm
I can see EJ moving back up towards 122 before heading down the flag pole
  • #6
  • Jul 9, 2020 10:53pm Jul 9, 2020 10:53pm
https://charts.mql5.com/25/378/eurjp...in-limited.png

Good day. I frequently post here in FF. I usually I study the old thread for trading strategy. I am still in the verge of learning until now since I busted my first account.

I usually trade the pair of eur/jpy, gbp/jpy and usd/jpy. Eur/jpy already had a new weekly low. Still holding my short until 120.2x(month low), SL move to BE in case it will bounce.

The only thing that I don't like with this pair on my experience is the currency maniputalion. Really had bag experience about it.

Trade safe
  • #7
  • Jul 9, 2020 11:25pm Jul 9, 2020 11:25pm
Quoting wesson
{image} Good day. I frequently post here in FF. I usually I study the old thread for trading strategy. I am still in the verge of learning until now since I busted my first account. I usually trade the pair of eur/jpy, gbp/jpy and usd/jpy. Eur/jpy already had a new weekly low. Still holding my short until 120.2x(month low), SL move to BE in case it will bounce. The only thing that I don't like with this pair on my experience is the currency maniputalion. Really had bag experience about it. Trade safe
Thanks

Is it manipulation from your broker end?
  • #8
  • Jul 9, 2020 11:26pm Jul 9, 2020 11:26pm
UJ is also interestingly poised

The channels are opened seem to be ready for down move on H4

But it could push up before going down eventually
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  • #9
  • Jul 9, 2020 11:40pm Jul 9, 2020 11:40pm
Here is the Multi Timeframe for one of my favourite if not the favourite pair

GBPJPY is a good indication of market direction both Forex as well as other markets like Index etc

A sell is evident from the earlier M30 Chart

The multichart is good for trade entry and exit
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  • #10
  • Jul 9, 2020 11:56pm Jul 9, 2020 11:56pm
AUDJPY is also a solid pair to Trade...It Trends reliably and is very forgiving!

Here is the Multi Timeframe Chart
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  • #11
  • Jul 10, 2020 12:02am Jul 10, 2020 12:02am
NZDJPY Typically go same path as AUDJPY as indicated by the Multi timeframe Chart
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  • #12
  • Jul 10, 2020 12:09am Jul 10, 2020 12:09am
Finally When the CHFJPY which is normally a ranger pair starts to trend its confirmation that its moving time for the group!
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  • #13
  • Jul 10, 2020 1:57am Jul 10, 2020 1:57am
Quoting DonFF
There is no Forum here that is encouraging Traders to trade the least risky way. Which explain why there is such a high Percentage of losing retail Traders...over 95%? Here I aim to use the JPY group to help Traders learn the art of Selecting the best pair from a group. Lets look at current Position from these Trading View charts {image}
So The Basic approach is to determine which Pair to Trade.

The correct basis must be the asset which will move by the most Pips

See My FXBook list attached:



Additionally you must get the timing right. "To everything there is a season" So we determine which Group is the best mover based on the specific month or even week. I have done detailed analysis to determine this.(Needless to say my forte is Finance and Analysis)

So the list of steps:

1)Seasonal Analysis
2)Group Analysis
3)Strength Weakness Probability Analysis
4)Interest rate decision timing
5)Other Economic or non-economic News analysis

As long as these factors are driving the group clearly Profit probability is significantly increased and loss is minimized
You still need to decide which is best pair in the group to invest in. Alternatively you may invest small lot size in all and add to the pair that is moving the strongest!
Attached Image
  • #14
  • Jul 10, 2020 2:10am Jul 10, 2020 2:10am
Quoting DonFF
{quote} Thanks Is it manipulation from your broker end?
currency manipulation from the BOJ after the 3.11. It is my fault I tend to overtrade then boom.
  • #15
  • Jul 10, 2020 2:12am Jul 10, 2020 2:12am
Quoting wesson
{image} Good day. I frequently post here in FF. I usually I study the old thread for trading strategy. I am still in the verge of learning until now since I busted my first account. I usually trade the pair of eur/jpy, gbp/jpy and usd/jpy. Eur/jpy already had a new weekly low. Still holding my short until 120.2x(month low), SL move to BE in case it will bounce. The only thing that I don't like with this pair on my experience is the currency maniputalion. Really had bag experience about it. Trade safe

Close my eur/jpy short in 120.28 it will still go down. But it is Friday everything can happen.

Happy pips and trade safe everyone.
  • #16
  • Jul 10, 2020 4:04am Jul 10, 2020 4:04am
Quoting wesson
{quote} Close my eur/jpy short in 120.28 it will still go down. But it is Friday everything can happen. Happy pips and trade safe everyone.
Good idea to be safe than sorry
  • #17
  • Jul 10, 2020 8:40pm Jul 10, 2020 8:40pm
Dashboard JPY Group

Here is a copy of one of the popular Dashboard from the forums here.

I have amended it so it can be used primarily for The Strength/Weakness analysis of the JPY Group Pairs

However the software may still be used to trade the pairs

I believe its best used as indicator rather than as EA.
Attached File(s)
File Type: mq4 Dashboard - JPY Group.mq4   56 KB | 524 downloads
File Type: tpl Dashboard JPY Group.tpl   115 KB | 498 downloads
  • #18
  • Jul 12, 2020 9:45pm Jul 12, 2020 9:45pm
EURJPY

EJ is likely heading back up to 122 before heading south toward 116 and collect some traction for its fall bull run!
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  • #19
  • Jul 13, 2020 3:44pm Jul 13, 2020 3:44pm
Here is a copy of the Dashboard for all Pairs
Attached File(s)
File Type: mq4 Dashboard - Multi V3auto.mq4   56 KB | 479 downloads
  • #20
  • Jul 16, 2020 1:45am Jul 16, 2020 1:45am
So Said so Done!

Here is the opportunity for the bear run towards 116
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