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USD/JPY Discussion

  • #83,221
  • Aug 28, 2020 9:14am Aug 28, 2020 9:14am
Quoting OxyGen_FX
CNA news listed several potential candidates for replacing Abe. http://www.channelnewsasia.com/news/asia/japan-prime-minister-shinzo-abe-possible-successors-13046634 Here are some excerpts of two of them from the above link, as it concerns forex. So, if one of these two got elected..... - Ishiba, 63. He has criticised the Bank of Japan's ultra-low interest rates for hurting regional banks. - Kishida, 63. The BOJ's hyper-easy...

Ah, but "not forever" can still be a very long time

That said, they won't it forever because the circumstances will force them to reverse. A crisis in the yen? Economic depression? A political revolution? The election of a politician who actually means what he/she says? Something else? Who knows! But yes, it will not be forever
  • #83,222
  • Aug 28, 2020 9:29am Aug 28, 2020 9:29am
earned 15 pips from 105.2, lost almost the same amount starting to buy at 105.3, probably should have respected the support level.

regards
  • #83,223
  • Aug 28, 2020 9:30am Aug 28, 2020 9:30am
Quoting tehnoob
{quote} Ah, but "not forever" can still be a very long time That said, they won't it forever because the circumstances will force them to reverse. A crisis in the yen? Economic depression? A political revolution? The election of a politician who actually means what he/she says? Something else? Who knows! But yes, it will not be forever
LOL yes, great points you mentioned here. Especially the part regarding politicians!

Since market is always mentioned as "forward looking", and usually refers to "smart/big" money who are probably the ones who caused this 180 pip drop the very minute that Abe speaks.
Maybe they also be thinking along the line of rising rates?
Anyway, too complex for me. I will just take it as it is, that USDJPY drops. LOL
  • #83,224
  • Aug 28, 2020 9:57am Aug 28, 2020 9:57am
What a fun week this was on UJ! : )

Summary:
Had 8 entries this week on this pair, 6 stopped on BE, 1 loss (-0.1%), and the short from today that is still alive and well.
I like how the monthly candle is shaping up, even though I was hoping for a bigger drop in august. Well - we still have monday^^
I am really curious how NIKKEI will open on monday as well..!


Anyways, have a nice weekend everyone! : )

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  • #83,225
  • Aug 30, 2020 5:24pm Aug 30, 2020 5:24pm
Check out August 2016 then compare to each August following.

What do you see compared to price actionAnd tange today?

Bearish flag with price find support in 104. As lowest
then over the next 4-6 weeks 107-108.

Fed let the market know they aren’t touching rates for a long time. This has bullishness written all over it. Same as last year.
Learn, a forex trader must, unlearn and relearn he will.
  • #83,226
  • Aug 30, 2020 9:32pm Aug 30, 2020 9:32pm
Good morning! My love you long time long continues on this pair, even despite the hectic news of Abe San leaving as prime minister!
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Emotional Control. Process, not outcome.
  • #83,227
  • Aug 31, 2020 12:54am Aug 31, 2020 12:54am
Hi All,

Is it possible or not the price will go to 104.50 - 105.00 before flying to 107.00?

BR,
Su
  • #83,228
  • Edited 11:16am Sep 1, 2020 6:04am | Edited 11:16am
Quoting Sutthiarkan
Hi All, Is it possible or not the price will go to 104.50 - 105.00 before flying to 107.00? BR, Su

Anything is possible my friend. I believe we will as well though. To 104 this week, then on and up. Could hit tomorrow. ADP news..
Don't compare your trades to others. Most often the masses are the asses
  • #83,229
  • Sep 2, 2020 2:53am Sep 2, 2020 2:53am
Quoting tehnoob
I have added to shorts at higher prices. Sometimes it pays to stay awake for the Tokyo session. Especially when Abe resigns and Jerome Powell has just spoken and whipsawed the market with his utterly inconsequential speech about inflation targeting (yawn!) 4h chart {image}

Exited these shorts earlier today for a bit under 80 pips profit total (very few pips from the lower shorts and 70 pippos from the higher one). We are still trapped in a horizontal channel since early August. Got about half of the channel's height. But I don't like price's movement since the drop to 105.20

I am mainly positioned on FTSE and Brent now, and less on currencies
  • #83,230
  • Sep 2, 2020 9:25am Sep 2, 2020 9:25am
Quoting OBsayMkMoney
{quote} Anything is possible my friend. I believe we will as well though. To 104 this week, then on and up. Could hit tomorrow. ADP news..

Right about the day.. WRONG about the direction lol. This is why patience is key.
Don't compare your trades to others. Most often the masses are the asses
  • #83,231
  • Sep 2, 2020 8:55pm Sep 2, 2020 8:55pm
Hopefully, NFP will put UJ to 107.
I am waiting to sell there
  • #83,232
  • Sep 3, 2020 1:04am Sep 3, 2020 1:04am
Hello!

I've just entered into some long punts, lured by the tightening price action's pattern over the last couple of days


Well, to be fair I am even more lured by the top of that big bear daily bar of late August with its peak just under 107. Betting it will be taken out as too obvious bear
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  • #83,233
  • Sep 3, 2020 1:29am Sep 3, 2020 1:29am
I've gone in much heavier Long on CADJPY, but it seems there is no active thread for that pair
  • #83,234
  • Sep 3, 2020 1:51am Sep 3, 2020 1:51am
Quoting tehnoob
I've gone in much heavier Long on CADJPY, but it seems there is no active thread for that pair

CJ: https://www.forexfactory.com/thread/post/12985499
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  • #83,235
  • Sep 3, 2020 1:53am Sep 3, 2020 1:53am
UJ looks to have good potential on the upside, and downside SL just below 104 is not big deal.
So buys at the well protected 105-106 are good entries for risk to reward.
The pair looking to trade sideways with potential of rising gradually breaking above 107..
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #83,236
  • Sep 3, 2020 1:56am Sep 3, 2020 1:56am
Quoting emmmmmmmm
{quote} CJ: https://www.forexfactory.com/thread/post/12985499
Thank you Emm! I will post there too
  • #83,237
  • Sep 3, 2020 2:00am Sep 3, 2020 2:00am
My pufferfish Luke took on some conviction trades. He insists that

USDJPY is going back up to 125ish, CADJPY to 106ish

and has some other crazy convictions too, that he just entered trades on and posted them on my journal! He's out of control!
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  • #83,238
  • Sep 3, 2020 7:57am Sep 3, 2020 7:57am
Quoting tehnoob
My pufferfish Luke took on some conviction trades. He insists that USDJPY is going back up to 125ish, CADJPY to 106ish and has some other crazy convictions too, that he just entered trades on and posted them on my journal! He's out of control! {image}

Considering they are selling this US election as the most volatile the Vix will see. Very realistic.
Don't compare your trades to others. Most often the masses are the asses
  • #83,239
  • Edited 10:05am Sep 3, 2020 8:39am | Edited 10:05am
usd/jpy several billions short! Big move ahead!

x/jpy selled for trillions!

LOVE
  • #83,240
  • Sep 4, 2020 6:38am Sep 4, 2020 6:38am
Any idea for non-farm?
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