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USD/JPY Discussion

  • #85,561
  • Jul 8, 2022 10:57am Jul 8, 2022 10:57am
https://www.forexfactory.com/news/11...ocks-the-world

Strange day for Japan.
  • #85,562
  • Jul 8, 2022 5:20pm Jul 8, 2022 5:20pm
in usdjpy we are in over bought that we have a good chance for pull back to last price level break.or alternative scenario continue to level 2
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  • #85,563
  • Jul 10, 2022 2:58pm Jul 10, 2022 2:58pm
Although USDJPY price action on the daily time frame is technically bullish, it is presently sideways as it tackles the 135.310/137.360 multi-year horizontal resistance zone (purple). This may result in a bearish correction before further bullish drive.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #85,564
  • Jul 10, 2022 11:55pm Jul 10, 2022 11:55pm
#USDJPY / H4
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  • #85,565
  • Jul 11, 2022 7:10am Jul 11, 2022 7:10am
Quoting ForexGoose
Should be easy to buy and make money this week. USD is bullish. {image} {image}
reached and exceeded 137.2

there is more upside to go into the 140s
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,566
  • Jul 11, 2022 7:54am Jul 11, 2022 7:54am
Quoting ForexGoose
{quote} reached and exceeded 137.2 there is more upside to go into the 140s
140 would be my next bullish target
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,567
  • Jul 11, 2022 2:32pm Jul 11, 2022 2:32pm
Today's trades.
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Money Maker
  • #85,568
  • Jul 11, 2022 10:49pm Jul 11, 2022 10:49pm
SL At Price 135.425
TP At Price 138.275
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  • #85,569
  • Jul 12, 2022 3:46am Jul 12, 2022 3:46am
Waiting for another long opportunity.
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Money Maker
  • #85,570
  • Jul 12, 2022 6:29pm Jul 12, 2022 6:29pm
Once more into the Fray.. 139 area target. All time 23% area. Bears waking up in the next 14 days IMO. Get your USD trades ready folks. The dollar has become an easier trade now that Bitcoin is being traded. So far the week's moves can be seen in the bitcoin weekend trade. Even if you aren't an Ellioteur or master Price Actionist. Look at the bitcoin chart before the week's open.
Don't compare your trades to others. Most often the masses are the asses
  • #85,571
  • Jul 13, 2022 8:20am Jul 13, 2022 8:20am
Quoting mtako
if attacks my mid range special again >129.75, I get back in long with this beauty soon. 12H pullback. buy stop 129.8
Quoting mtako
In high quality 12H based trend/momentum/ripe volatility at last(that could blow up in my face!), am attacking the significant highs of the 15th&16th of June = Buy Stop 135.60. 3rd time the charm? Wish me luck ! Cheers ! {image}
Adding another long time ! 15min volatility growth in high&tight momentum breaking the bear candle setup! Buy stop 137.70

Cheers all !!
If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #85,572
  • Jul 13, 2022 8:24pm Jul 13, 2022 8:24pm
USD/JPY just hit 138 for the first time since 1998.

The pair has already pulled back marginally from this key level, but with another hotter-than-expected US CPI print, can we see a breakout towards 140 on speculation of increased Fed hawkishness?

All trading carries risk, but it will definitely be worth watching how this develops over the rest of the day.
  • #85,573
  • Jul 14, 2022 9:11am Jul 14, 2022 9:11am
Quoting ForexGoose
{quote} 140 would be my next bullish target {image}
140 and then 143.4 are my targets
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,574
  • Jul 17, 2022 1:54am Jul 17, 2022 1:54am
H & S pattern seems to be near exhaustion on Daily TF.
  • #85,575
  • Jul 17, 2022 2:55pm Jul 17, 2022 2:55pm
USDJPY price action on the daily time frame is tackling the multi-year 136.920/139.270 horizontal resistance zone (purple) seen on the weekly time frame. Although the technical structure is bullish, bears are resisting the bullish drive and, last week Friday, a relatively small bearish candlestick was printed in the zone. This portends the possibility of a bearish correction or a sideway of price action.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #85,576
  • Jul 18, 2022 4:40am Jul 18, 2022 4:40am
The pair is showing signs of potentially basing around 138, but after Fed Waller's recent comments, direction from here could come down to the US housing market data released in the coming days.

Friday's hot retail sales print means that a 100bps hike from the Fed hasn't been fully ruled out yet, and further signs of economic resilience from this week's data could help USD/JPY begin another move higher on increased speculation of a more aggressive tightening cycle.

Of course, all trading carries risk, and the pair could see sideways price action or deeper pullback below 138 if the housing data indicates a significant slowdown. Either way, it should be interesting to see how this develops ahead of the FOMC Meeting.
  • #85,577
  • Jul 19, 2022 4:23am Jul 19, 2022 4:23am
I do not think H & S pattern is going to play out anymore. Now I think what we will have is 3rd buy after this retracement is over, so will keep an eye when this buy might start. I expect it to start tommorow. Of we have a red Daily candle of just 30-50 pips then this scenario is most likely. On the other hand, however, if we were to witness bigger red Daily candle then sell already started. I will explain my thought-process later with some Daily chart to back it up of course.
  • #85,578
  • Jul 19, 2022 7:15am Jul 19, 2022 7:15am
Quoting ForexGoose
{quote} 140 and then 143.4 are my targets {image}
waiting to buy dips for a rally towards 140

the uptrend is still intact and there is no meaningful pullback from the highs
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,579
  • Jul 19, 2022 5:59pm Jul 19, 2022 5:59pm
Quoting ForexGoose
{quote} waiting to buy dips for a rally towards 140 the uptrend is still intact and there is no meaningful pullback from the highs {image}
I'm watching 138.03 to buy.
  • #85,580
  • Jul 20, 2022 10:16pm Jul 20, 2022 10:16pm
YEEHAW!...

I believe that move south for a quick instant may be a sign of things to come across the board in one way or another...

That liquidity is not going to be left un-done people.
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