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USD/JPY Discussion

  • #84,101
  • Oct 21, 2021 10:51am Oct 21, 2021 10:51am
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  • #84,102
  • Oct 22, 2021 6:34am Oct 22, 2021 6:34am
Might close the week between these levels, happy weekend guys.
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  • #84,103
  • Oct 22, 2021 7:12am Oct 22, 2021 7:12am
Quoting IPMan
Might close the week between these levels, happy weekend guys. {image}
Closed my short position at 113.75.

Wasn't happy with the price action the last couple days.

Plus there's probably a 50/50 shot that Powell says something that pushes price one way or the other.

I'll take my 50 pips and sit tight and watch.
"A true speculator tries the market small." - Jesse Livermore
  • #84,104
  • Oct 22, 2021 7:45am Oct 22, 2021 7:45am
Hi,

i just entered long position, beacuse we back by correction around 100 from top and sitting on support line created by last surge up, so R/R for long is very good.

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Green pips for all!
Everyone makes mistakes, but only few use equity management.
  • #84,105
  • Oct 22, 2021 10:51am Oct 22, 2021 10:51am
Quoting marcin.kamaj
Hi, i just entered long position, beacuse we back by correction around 100 from top and sitting on support line created by last surge up, so R/R for long is very good. {image} Green pips for all!
You should really be looking for corrections on the daily chart around 31% at a minimum, but I prefer a 50% correction of the last major leg up.
"A true speculator tries the market small." - Jesse Livermore
  • #84,106
  • Oct 24, 2021 9:12am Oct 24, 2021 9:12am
The pair has been bullish in the daily chart. The price seems to have found a strong resistance around 114.400. However, there is a support of an uptrending trend line, which still holds the price. It means unless the trendline is breached by the price, the buyers may wait for the chart to produce a bullish reversal to go long in the pair again. The price may find its next resistance around 116.000.

On the other hand, if the price makes a daily breakout at the trendline, the sellers may go short in the pair upon breakout confirmation. The price may find its next support around 112.080.
  • #84,107
  • Oct 24, 2021 10:59am Oct 24, 2021 10:59am
We had an extended 3rd which resulted i na pump to highs at 144.69 (minor cycle-red) and from there we reversed, meaning that's wave 4 of the intermediate cycle.

Considering we already broke two of the fib zones for wave 4, we have the 0.382 left and the absolute maximum of 0.5. The first target for the wave 3 of the primary cycle is the 1.618 (115.649) and from there we should seek a retrace for wave 4 of the primary cycle.
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  • #84,108
  • Oct 24, 2021 11:12am Oct 24, 2021 11:12am
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  • #84,109
  • Oct 24, 2021 11:31am Oct 24, 2021 11:31am
If we dig even more in detail, we can add this. With the PA from last week i believe wave 4 will be a 535 Zig-Zag.

So far we can clearly read 5 waves (minuette cycle) so this could possibly be wave A. Then if we take the absolute maximum of wave B which is 0.854 and project targets for wave 3, there's some confluence between the last target for the intermediate cycle for wave 4 (0.5) and the last target for this Zig-Zag (minuette) which is 1.23. Also the 2nd target for the Zig-Zag is confluent with the 0.382 target of wave 4 (intermediate).
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  • #84,110
  • Oct 24, 2021 4:31pm Oct 24, 2021 4:31pm
Still waiting to see if 113.30 will hold......
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"A true speculator tries the market small." - Jesse Livermore
  • #84,111
  • Oct 24, 2021 7:08pm Oct 24, 2021 7:08pm
Quoting GPetroff
If we dig even more in detail, we can add this. With the PA from last week i believe wave 4 will be a 535 Zig-Zag.{image}
What?
  • #84,112
  • Oct 25, 2021 2:12am Oct 25, 2021 2:12am
Quoting Beyfor
{image}

Sub-wave "4" of 5 is taking place. maintain the same outlook


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  • #84,113
  • Oct 27, 2021 5:38am Oct 27, 2021 5:38am
We have BoJ interest rate decision and press conference tomorrow. I think BoJ will remain super dovish, and the bearish move today in UJ is just because of profit taking before the news. This is a good buying opportunity.
You have to have an IQ higher than 90 to interact with this user.
  • #84,114
  • Edited 12:02pm Oct 27, 2021 5:45am | Edited 12:02pm
Quoting Nordling00
We have BoJ interest rate decision and press conference tomorrow. I think BoJ will remain super dovish, and the bearish move today in UJ is just because of profit taking before the news. This is a good buying opportunity.

Couple things.

It's earnings week and every single indicy is at multi year highs or lows.

If the market sells off and goes into risk off mode they'll move into bonds driving rates down

That and the yens seen as a safe haven for traders.

So you could have the perfect storm for usd/jpy pull back.

Looks like smart money has this pegged at 113.55 - 113 by the end of the week.
"A true speculator tries the market small." - Jesse Livermore
  • #84,115
  • Nov 1, 2021 9:46pm Nov 1, 2021 9:46pm
A good start in the day is when all positions are in breakeven and TP gets hit.
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  • #84,116
  • Nov 1, 2021 10:08pm Nov 1, 2021 10:08pm
Definitely buy from here. BoJ meetings were dovish. Nothnig supports the Yen now. I am holding my longs
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  • #84,117
  • Nov 4, 2021 6:30am Nov 4, 2021 6:30am
Just waiting.....
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"A true speculator tries the market small." - Jesse Livermore
  • #84,118
  • Nov 4, 2021 6:38am Nov 4, 2021 6:38am
Quoting Jgcole83
Just waiting..... {image}
It is annoying isn't it Looks like i will wait forever to see 116
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  • #84,119
  • Nov 4, 2021 6:42am Nov 4, 2021 6:42am
Quoting Nordling00
{quote} It is annoying isn't it Looks like i will wait forever to see 116
There's basically no resistance after it breaks 114.70.

@dx, and @jy are at make or break levels too.

I'll be looking at the 118 level.
"A true speculator tries the market small." - Jesse Livermore
  • #84,120
  • Edited 8:04am Nov 4, 2021 7:50am | Edited 8:04am
Love watching someone dick around with yen futures.

Looks like big boys trying to flush people out of their longs.

Dollar futures up .50% and its a risk off day and somehow the yen futures are up .20% too lol.....

Nothing to see here....
"A true speculator tries the market small." - Jesse Livermore
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