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USD/JPY Discussion

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
wave analysis may be used to confirm S/R levels.
maybe.
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
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!
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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When you feel like you HAVE to trade is when you least should!
Quoting ForexGoose
{quote} you have to do your own analysis

I second this. The problem with following the analysis of another is that for one you are late to the party, and for two.. it sucks to lose money to someone else's mistake!!
When you feel like you HAVE to trade is when you least should!
USDJPY price action on the daily time frame made a bearish drive from the sideways that occurred after a bullish retest of the 130.600/131.780 multi-year horizontal resistance zone (purple) on May 9. Presently, it is on a bullish move to retest the daily supply created at the 129.80/130.60 area. Any bullish misstep would lead to a bearish continuation.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
+JPY. Recession fear this week. Stocks sell off.
Nice PPI will help the tip. Better on other JPY pairs
TIME is the most valuable commodity
US pre-stock market futures trading keep dropping.
Quoting Alyona
US pre-stock market futures trading keep dropping.
not by a lot yet
don't believe in mumbo jumbo from gurus
US stock futures holding down: https://www.cnn.com/business/markets/premarkets

Economies trending worse = +JPY.
We may see UJ 126.0 this week.
Long on those levels. 50 pips target whichever hits first and then the other orders are cancelled
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I plan to scalp the markets
Just went short for 25 pips
Quoting Formonix
I plan to scalp the markets Just went short for 25 pips
SL on the last daily swing

Strong drop will come at any time
Prime to sell but as soon as the sell off recovers, the resumption of the dollar strength continues as usual.
I don't follow chart patterns, Fibonacci, or waves, but only fundamental and technical analysis. It is possible for USD/JPY to move higher as the FED becomes more hawkish in their speeches this week. If the stock market sells, the dips are being bought.

AUD/JPY could be better for shorts as it falls faster.
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don't believe in mumbo jumbo from gurus
The volatility index doesn't show that there is a flight to safety in the YEN yet so far this year after stocks sell-off. It needs to get above 40 for there to be major USD/JPY dumping.
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don't believe in mumbo jumbo from gurus
Quoting ForexGoose
I don't follow chart patterns, Fibonacci, or waves, but only fundamental and technical analysis. It is possible for USD/JPY to move higher as the FED becomes more hawkish in their speeches this week. If the stock market sells, the dips are being bought. AUD/JPY could be better for shorts as it falls faster. {image} {image} {image}
As usual, wonderful opportunity to bid for the dollar. The bears could afford to pressure only for the time being before it turns bullish in the interim phase. Current short term phases seem to favor bears.
Quoting ForexGoose
I don't follow chart patterns, Fibonacci, or waves, but only fundamental and technical analysis. It is possible for USD/JPY to move higher as the FED becomes more hawkish in their speeches this week. If the stock market sells, the dips are being bought. AUD/JPY could be better for shorts as it falls faster. {image} {image} {image}
For those seeking to capitalize said opportunity, EURJPY and NZDJPY moves in tandem rallying side by side mirroring UJ.
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