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USD/JPY Discussion

Quoting OBsayMkMoney
Short.. Got out my long at the top of the channel. Short now for a possible ABC off 4hr. Target 126 area.
daily & weekly candle chart show us 122 ~ 121
Quoting hussin naiji
{quote} daily & weekly candle chart show us 122 ~ 121

Perhaps.... I don't trust this pair to perform perfectly. For a valid ABC the C extends beyond the A. A is at 127.6 from what i see with a Fib extension the 100 percent is 126.0005. Now I agree with you that most times it goes to the 161 which is more aligned with your process, but this being my first target, and this being the crazy pair it is. My safe target is that 126. If it is going to blow through it, we should I think have some rather bearish candles, approaching the area, and I will adjust. God forbid they extend the channel down and we bounce off there yanno!
When you feel like you HAVE to trade is when you least should!
Tried to short jpy, got a some profit. Waiting move from current flat for next entries.
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Money Maker
Acnestis Return This Month: -5.0%
USDJPY price action is sideways on the daily time frame after a bearish rejection of the 130.30/131.63 horizontal resistance area (purple) seen on the weekly time frame. We may see further bullish move to retest a value area before a southward continuation.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
I am selling again based on D1 & M15
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This should start down during Asian market.
When you feel like you HAVE to trade is when you least should!
Quoting ScalaFX
{quote} Im waiting for some pulback up to load some haavy shorts on this, im expecting 126-125 next week, cheers!
Boom! Closly to target already earlier closed my shorts becouse I made enought, this is not over, fall continuation after small rejection
I put a buy limit order near 122. For now, I expect it to drop lower if the stock market continues to sell-off heavily.
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don't believe in mumbo jumbo from gurus
Took a little longer than I expected, but 127 support is finally broken....
So 126 is the next stop downwards.
When we get there (hopefully before this week ends), I will be planning an exit strategy for my shorts.
Expect the unexpected; take your profit and run.
There needs to be more volatility in the stock market sell-off to make USD/JPY drop faster. For now, there still could be rallies and consolidation.
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don't believe in mumbo jumbo from gurus
AUD/JPY is more fun to trade intra-day for bears, USD/JPY is boring if there is no action.
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don't believe in mumbo jumbo from gurus
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don't believe in mumbo jumbo from gurus
Quoting SckT
Took a little longer than I expected, but 127 support is finally broken.... So 126 is the next stop downwards. When we get there (hopefully before this week ends), I will be planning an exit strategy for my shorts.
Supports become resistance, and resistances become supports...
When you feel like you HAVE to trade is when you least should!
Quoting ForexGoose
There needs to be more volatility in the stock market sell-off to make USD/JPY drop faster. For now, there still could be rallies and consolidation. {image}

What is the relation of this pair with the stock markets ?
127..... Short again. 124-122. I have more confidence now that it retraced.,
When you feel like you HAVE to trade is when you least should!
#USDJPY / H1
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Quoting OBsayMkMoney
127..... Short again. 124-122. I have more confidence now that it retraced.,
Got out of this. No follow through. 126 is still sealing the bears in. We may be about to blow the highs. This week should tell.
When you feel like you HAVE to trade is when you least should!
The pairs is trading back below the key support level of 127 at the time of writing. Could we see it extend its move lower as US recession fears push traders out of the dollar and into safe-havens like the Yen?

All trading carries risk, but definitely worth keeping an eye on.
Exiting my shorts and going long here at 126.58 back to 129. Stop is 126.
Quoting forexguy516
Now just waiting for the BOJ to come out with another series of releases where they say: We're going to continue to support a weaker yen. Then... Even though by weakening the yen to such a degree that we have, therefore creating much volatility, we are concerned with the current levels of volatility! Then .. We don't want the yen to weaken too much further. Then... we're going to keep our monetary easing in place as it's producing the results we want and benefiting the economy. Then... a rapidly decrease yen is not in our best interest, even though...

See what I said a few days ago.... Kuroda is a slimy turd. Through the years I learned to fade his BS. The latest release was more of the same. Says two things of opposite meanings in the same release. Talked about needing to continue to ease but then talked up tightening.

Fading the moves off his releases is usually the smart bet. Guy is a real piece of work.
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