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USD/JPY Discussion

  • #85,541
  • Jun 28, 2022 11:36am Jun 28, 2022 11:36am
Looking the H4 chart i'm considering the possibility that the downtrend 'll be short. After that we'll see a new bullrun till 137. Just thinking while i follow my short position.
  • #85,542
  • Jun 28, 2022 3:02pm Jun 28, 2022 3:02pm
Quoting ForexGoose
{quote} Fibonacci and fractals result in bankruptcy

... and yet here I sit fully solvent. Focus on your style of trading my friend. Just because you can't figure out a system and it doesn't work for you doesn't make it wrong. Look inward first in all faults.
Don't compare your trades to others. Most often the masses are the asses
  • #85,543
  • Jun 28, 2022 3:05pm Jun 28, 2022 3:05pm
Quoting hussin naiji
{quote} Hi F this is a good question but my answer : weekly candlestick pattern with high reliability overbought high price with Twenty years ago Waiting for intervention BOJ Change the trend 10-year bonds Public expectations for the onset of a stagflation crisis
Brother... This is Forex. There is no such thing as "Overbought". That is a term for stocks.
Don't compare your trades to others. Most often the masses are the asses
  • #85,544
  • Jun 28, 2022 9:06pm Jun 28, 2022 9:06pm
Quoting OBsayMkMoney
{quote} ... and yet here I sit fully solvent. Focus on your style of trading my friend. Just because you can't figure out a system and it doesn't work for you doesn't make it wrong. Look inward first in all faults.
following Fibonacci or fractal trading strategies guarantees a loss

how many accounts have you lost?
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,545
  • Jun 28, 2022 11:18pm Jun 28, 2022 11:18pm
Quoting OBsayMkMoney
{quote} Brother... This is Forex. There is no such thing as "Overbought". That is a term for stocks.
Yes, USD/JPY is bully, try to find bottom to buy is winning skill.

In my view, USD/JPY already the simple instrument to trade.
Even, you don't use any indicator, just break trend line, you can trade well on 1mins, 30mins or Day chart.

Here is 1 min chart with break trend line reverse, best and easy.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_1min_trendline.png Size: 20 KB
  • #85,546
  • Jun 29, 2022 6:50am Jun 29, 2022 6:50am
Quoting stringfx
On that note this is my DXY chart that i am following, this is purely technical speculation, so i know the fundamental geeks will have a problem. I have a green on my accelator and waiting for a green bar on awesome.. plus 38.2 fibs (although early to tell ) as we could have a down move to complete correction some more. 107.35 looks like a good target for dollar index... after that we all know there will a abyss in the dollar to control all other factors happening in the world today as higher dollar is a big problem for the rest of the world. {image}...

I got a green bar on awesome today. Now to wait until end of day to see if the bar will remain, if it does, i will sell gbp/usd, nzd/usd and buy usd/jpy a whole lot.
Attached Image (click to enlarge)
Click to Enlarge Name: dxy dly2.png Size: 10 KB
STING
  • #85,547
  • Jun 29, 2022 8:43am Jun 29, 2022 8:43am
Quoting ForexGoose
{quote} maybe today {image}
above 137.2, there could be a big bull higher to 140.1 quickly
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: USDJPY_2022-06-29_09-45-50.png Size: 38 KB
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,548
  • Jun 29, 2022 9:05am Jun 29, 2022 9:05am
I've colsed my short at 135.99. Now, short again at 136.91. My tp at 135.80.
  • #85,549
  • Jun 29, 2022 2:17pm Jun 29, 2022 2:17pm
I've closed my short position 136.52. Incredible with the yen but i look it very bullish yet.
  • #85,550
  • Jun 29, 2022 2:40pm Jun 29, 2022 2:40pm
Quoting jag1969
I've closed my short position 136.52. Incredible with the yen but i look it very bullish yet.
Normally, I would say the correct play is to just ride the trend but the anti-trend play here is so enticing due to the possible intervention or pivot by the BOJ. I will take a short here at 136.55. SL at 145. Targeting 116. Risking about $17k.
  • #85,551
  • Jun 29, 2022 3:35pm Jun 29, 2022 3:35pm
Quoting sixth sense
{quote} Normally, I would say the correct play is to just ride the trend but the anti-trend play here is so enticing due to the possible intervention or pivot by the BOJ. I will take a short here at 136.55. SL at 145. Targeting 116. Risking about $17k.
ouch

I just ride the trend.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,552
  • Jun 29, 2022 10:40pm Jun 29, 2022 10:40pm
Quoting sixth sense
{quote} Normally, I would say the correct play is to just ride the trend but the anti-trend play here is so enticing due to the possible intervention or pivot by the BOJ. I will take a short here at 136.55. SL at 145. Targeting 116. Risking about $17k.
I've opened a short position at 136.60 but with tp at 136.30. It's not clear for me.
  • #85,553
  • Jun 30, 2022 4:33am Jun 30, 2022 4:33am
My tp. closed my short. Now i've opened long position at 136.20, tp 136.80. Frecuently usdjpy and eurusd are linked by an opposite correlation. The eurusd seems really bearish.
  • #85,554
  • Jul 1, 2022 3:05am Jul 1, 2022 3:05am
now 135.xxx ooopss!
  • #85,555
  • Jul 3, 2022 2:59pm Jul 3, 2022 2:59pm
USDJPY price action on the daily time frame is in a rising wedge (magenta) but presently sideways as it tackles the 135.310/137.360 multi-year horizontal resistance zone (purple) seen on the monthly time frame. As price action is losing bullish impetus, we may see a bearish pullback before a northward continuation.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily_June 3, 2022.png Size: 14 KB
Do your homework, follow the footprints of smart money
  • #85,556
  • Jul 3, 2022 3:59pm Jul 3, 2022 3:59pm
Quoting KeenPips
USDJPY price action on the daily time frame is in a rising wedge (magenta) but presently sideways as it tackles the 135.310/137.360 multi-year horizontal resistance zone (purple) seen on the monthly time frame. As price action is losing bullish impetus, we may see a bearish pullback before a northward continuation. I may be wrong. Trade safe and prosper. KP {image}
You know how i like your analysis. My idea is to trade the yen long but it's possible we don't see new highs yet.
  • #85,557
  • Jul 3, 2022 4:18pm Jul 3, 2022 4:18pm
Yes, one idea is to wait for price action to retest a value area in confluence with a significant support/demand area, and look for a cue/setup for a buy trade.

Trade safe, prosper.

KP

Quoting jag1969
{quote} You know how i like your analysis. My idea is to trade the yen long but it's possible we don't see new highs yet.
Do your homework, follow the footprints of smart money
  • #85,558
  • Jul 4, 2022 7:19am Jul 4, 2022 7:19am
Should be easy to buy and make money this week. USD is bullish.
Attached Image(s) (click to enlarge)
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,559
  • Jul 7, 2022 2:30pm Jul 7, 2022 2:30pm
I'm short at 135.80 from yesterday. I've decided to keep open the position. I know that the pair must cross the 135.57 but considering that tomorrow it's NFP day, I'll wait that number. My tp at 135.00. This week i thought usdjpy should be more bullish but it looks some lazy to do it.
  • #85,560
  • Jul 8, 2022 3:21am Jul 8, 2022 3:21am
If Head & Shoulders pattern is to come true, TP is at 132.
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