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USD/JPY Discussion

  • #85,281
  • May 12, 2022 1:42pm May 12, 2022 1:42pm
Quoting wodzu
{quote} Another good example that levels, fibo etc. mean little in the forex market.
I show that my levels worked on AUD/JPY here earlier.

https://www.forexfactory.com/thread/...4#post13997634

rookies don’t understand
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,282
  • May 12, 2022 2:13pm May 12, 2022 2:13pm
The correction has begun. If it breaks 127.40 (23.6% Fib), it will drop 125.00 (38.2% Fib).
  • #85,283
  • May 12, 2022 2:17pm May 12, 2022 2:17pm
Quoting RichClaws
The correction has begun. If it breaks 127.40 (23.6% Fib), it will drop 125.00 (38.2% Fib).
or 122
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,284
  • May 12, 2022 6:33pm May 12, 2022 6:33pm
Been short on this. Thought this was the drop as well, but starting to feel very uneasy about this upward creep in price. Already retraced 100 pips.
  • #85,285
  • Edited 6:59pm May 12, 2022 6:43pm | Edited 6:59pm
bears are desperate, but it could reverse on them in the anus
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bears need some divine intervention to ensure that a market sell-off will result in the flight to safety of a currency that is not appreciating in value, due to a dovish central bank policy
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,286
  • May 12, 2022 7:50pm May 12, 2022 7:50pm
Long.

Possible end to 4hr ABC off 5 waves up

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Don't compare your trades to others. Most often the masses are the asses
  • #85,287
  • May 12, 2022 7:51pm May 12, 2022 7:51pm
Quoting ForexGoose
bears are desperate, but it could reverse on them in the anus {image} bears need some divine intervention to ensure that a market sell-off will result in the flight to safety of a currency that is not appreciating in value, due to a dovish central bank policy{image}

Why the anus tho? Seems like such a targeted statement.
Don't compare your trades to others. Most often the masses are the asses
  • #85,288
  • May 12, 2022 8:02pm May 12, 2022 8:02pm
Bears could still be in control after that 4 hr close, let's see.
  • #85,289
  • May 12, 2022 10:31pm May 12, 2022 10:31pm
Quoting forexguy516
Bears could still be in control after that 4 hr close, let's see.
In a short while, yes. But in the intermediate term, the bulls seem to rally just fine. We may come to experience a bull run in early London sess.
  • #85,290
  • May 12, 2022 10:40pm May 12, 2022 10:40pm
Quoting ForexGoose
128.5 is probably the key level on the daily chart to watch for if you sell now, then you could be trapped {image} {image}
Agreeable since BOJ kept its monetary easing activity bullish. A weakened yen for exports while the dollar rules the show momentarily.
  • #85,291
  • May 13, 2022 5:59am May 13, 2022 5:59am
Quoting OBsayMkMoney
{quote} Why the anus tho? Seems like such a targeted statement.
because the market is anal to many traders

bears could also be lucky if there is a surprise BOJ rate hike
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,292
  • Edited 10:47am May 13, 2022 10:05am | Edited 10:47am
bears can try to sell from 129.5 to see if they can profit intra-day
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,293
  • May 13, 2022 11:30am May 13, 2022 11:30am
Last week:
https://www.litefinance.com/blog/ana...060522-130522/
Quote
...consider long positions from corrections above the level of 128.52 with a target of 135.00 – 140.00.
Quote
...If the presumption is correct, the pair will continue to rise to the levels of 135.00 – 140.00. The level of 128.52 is critical in this scenario as a breakout will enable the pair to continue declining to the levels of 124.50 – 122.50
---
(But USD/JPY fell to ~127.50)
---
This week:
https://www.litefinance.com/blog/ana...2022-20052022/
Quote
...consider short positions from corrections below the level of 131.25 with a target of 124.50 – 122.50.
Quote
...If the presumption is correct, the pair will continue to drop to the levels of 124.50 – 122.50. The level of 131.25 is critical in this scenario as a breakout will enable the pair to continue growing to the levels of 135.00 – 140.00.
---
(Yeah. I'm not so sure about that.) The chart the analyst posted this week (see attached) looks sketchy (no pun intended).
---
Anyone has any recommendations for analysts/news-outlets to follow for USD/JPY analysis? Something more than:
- "Oh look, it's going up."
- "Oh look, it's going down."
- "We think It might go up, but it might go down too."
Forexlive, DailyFX, etc. do not cut it for me.
Tnx.
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  • #85,294
  • May 13, 2022 11:35am May 13, 2022 11:35am
BTW: I'm pointing out LiteFinance because they appear in the ForexFactory news feed often.
  • #85,295
  • May 13, 2022 11:37am May 13, 2022 11:37am
Quoting ncbuhr
Last week: https://www.litefinance.com/blog/ana...060522-130522/ {quote} {quote} --- (But USD/JPY fell to ~127.50) --- This week: https://www.litefinance.com/blog/ana...2022-20052022/ {quote} {quote} --- (Yeah. I'm not so sure about that.) The chart the analyst posted this week (see attached) looks sketchy (no pun intended). --- Anyone has any recommendations for analysts/news-outlets to follow for USD/JPY...
you have to do your own analysis
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,296
  • May 14, 2022 7:21am May 14, 2022 7:21am
Quoting ncbuhr
BTW: I'm pointing out LiteFinance because they appear in the ForexFactory news feed often.
Is that a forex broker? If you listen to the advice of forex brokers about how to trade, then you will lose your money. The objective of the forex broker is to make their client lose money. They have a conflict of interest when providing financial advice. Also, wave analysis doesn't work. Economics and psychology move the market.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,297
  • May 14, 2022 7:27am May 14, 2022 7:27am
wave analysis may be used to confirm S/R levels.
maybe.
  • #85,298
  • May 14, 2022 7:31am May 14, 2022 7:31am
Next week, FED speakers will be discussing inflation. If they are hawkish, then the market could crash. Maybe there will be a flight to safety in JPY.
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,299
  • May 14, 2022 7:43am May 14, 2022 7:43am
Quoting ForexGoose
Next week, FED speakers will be discussing inflation. If they are hawkish, then the market could crash. Maybe there will be a flight to safety in JPY. {image} {image} {image}
Im waiting for some pulback up to load some haavy shorts on this, im expecting 126-125 next week, cheers!
People don't plan to lose. They lose because they don't plan.
  • #85,300
  • May 14, 2022 9:01am May 14, 2022 9:01am
Quoting OBsayMkMoney
Long. Possible end to 4hr ABC off 5 waves up {image}
Out of my longs for now. The 4hr to me looks ripe for another push north, but bears are trying to hold the line. My chart shows this being the first time in a long time that we are outside of the trend. We just finished an ABC formation indicative of a wave 4, and looking like a running flat. Considering we have yet to break trend, the higher probability is that we take out this high here for a wave 5. With that said we may be here for a bit in a range between 127 and 131. Not a bad range in my book. 137 looks currently out of range, but with some ranging and a good running start from 127; the stop hunt at the "top" can take us there. Happy weekend.
FYI.. Bitcoin appears to also be at support. I have been waiting for 28000 for a bit. If it dips below the recent lows this could signal more room above for the dollar.

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Don't compare your trades to others. Most often the masses are the asses
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