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USD/JPY Discussion

  • #85,701
  • Edited 10:54am Aug 6, 2022 10:41am | Edited 10:54am
the arrow shows where the drop started below 3% because the market thought that a recession was coming

https://www.forexfactory.com/news/11...f-slowdown-dxy

now, I would expect it to retrace back above 3% because the FED doesn't see a recession in the data and they will continue to raise interest rates aggressively
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,702
  • Aug 7, 2022 10:08am Aug 7, 2022 10:08am
checking pa
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #85,703
  • Aug 7, 2022 10:14am Aug 7, 2022 10:14am
Quoting fontu
checking pa {image} {image}
I am curious how did the 113 come about. Sorry I am new to forex
  • #85,704
  • Edited 12:59pm Aug 7, 2022 11:47am | Edited 12:59pm
Quoting Zeiferz
{quote} I am curious how did the 113 come about. Sorry I am new to forex
There is a top failure, that is wave 3 over, though still may up little yet wave 4 likely correct before further up. Checking chart in mobile to give fresh. While correct 125.85 limit /pullback will be important to watch. Watch for 135.56 breaks towards 137.44 target bull try even, typically 136 ok as standard, abnormal if the next bull target to near or over previous top possible. More time need to see signal next top failure.
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Not understand?better not follow my analyses!doubt clearer first, risks ++
  • #85,705
  • Aug 7, 2022 1:09pm Aug 7, 2022 1:09pm
Four days ago USDJPY price action on the daily time frame made a bearish pullback to the 61.8/78.6 Fib zone of the 126.350/139.380 bullish swing. This was the follow-through of the bearish rejection of the 136.920/139.270 multi-year horizontal resistance zone (purple), seen on the monthly time frame. Price action is presently in a bullish continuation mode and we can expect further northward move.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #85,706
  • Edited 3:40pm Aug 7, 2022 2:11pm | Edited 3:40pm
One last push up and London will kill UJ if Asian Market doesn't in my opinion.. Selling the red zone.
with a possible bounce off of 134.4.
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Don't compare your trades to others. Most often the masses are the asses
  • #85,707
  • Aug 8, 2022 6:37am Aug 8, 2022 6:37am
Quoting OBsayMkMoney
One last push up and London will kill UJ if Asian Market doesn't in my opinion.. Selling the red zone. with a possible bounce off of 134.4. {image}
Approaching 134.4. We could see this bounce back to the recent highs here. Caution. I think it will break though. 15m shows a triple top. So if we go back up we are breaking it (very few quad tops out there). Not going too far though I don't think. The top of the red zone will be the target.
Don't compare your trades to others. Most often the masses are the asses
  • #85,708
  • Aug 8, 2022 4:40pm Aug 8, 2022 4:40pm
Quoting OBsayMkMoney
{quote} Approaching 134.4. We could see this bounce back to the recent highs here. Caution. I think it will break though. 15m shows a triple top. So if we go back up we are breaking it (very few quad tops out there). Not going too far though I don't think. The top of the red zone will be the target.

On second look this doesn't appear to be going back to the top... but still waiting. It looks like we just had a wave 4. If that is so.. we may see this level here again on a retracement.
Don't compare your trades to others. Most often the masses are the asses
  • #85,709
  • Aug 9, 2022 2:15pm Aug 9, 2022 2:15pm
It looks like if it breaks 136 then will rise above 140...
  • #85,710
  • Aug 9, 2022 5:48pm Aug 9, 2022 5:48pm
Quoting RichClaws
It looks like if it breaks 136 then will rise above 140...
According to my trading plan it won't do it yet. News from USA are going to send the yen down. I may be wrong but i'll trade short the yen this day.
  • #85,711
  • Aug 9, 2022 7:06pm Aug 9, 2022 7:06pm
from my view this pair is doing a major pullback into consolidation or a reversal
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be a thinker before being a reacter
  • #85,712
  • Aug 9, 2022 9:18pm Aug 9, 2022 9:18pm
Quoting jag1969
{quote} According to my trading plan it won't do it yet. News from USA are going to send the yen down. I may be wrong but i'll trade short the yen this day.
I'm surprised with the downtrend. I'm winning pips but i was waiting the USA data to begin the downtrend. So i'll pay attention if a bullish setup appears.
  • #85,713
  • Aug 10, 2022 1:48am Aug 10, 2022 1:48am
Closed my short at 134.95. I prefer to hope the usa data.
  • #85,714
  • Aug 10, 2022 3:50am Aug 10, 2022 3:50am
Quoting ForexGoose
next week, it can rally towards 137.2 {image} {image}
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,715
  • Aug 10, 2022 4:52am Aug 10, 2022 4:52am
Short again from 134.90.
  • #85,716
  • Aug 10, 2022 5:13am Aug 10, 2022 5:13am
From what I can see we are in a range until next week before going down. We had three waves up. A complex correction is in play on the 4hr and will rape accounts of the impatient.

Trade carefully. If so the trends will only be visible on the lower time frames. 30m max.
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Don't compare your trades to others. Most often the masses are the asses
  • #85,717
  • Aug 10, 2022 5:29am Aug 10, 2022 5:29am
Short again from 134.90.
  • #85,718
  • Aug 10, 2022 5:35am Aug 10, 2022 5:35am
Quoting jag1969
Short again from 134.90.
Glad i wasn't the only one who saw it.
Don't compare your trades to others. Most often the masses are the asses
  • #85,719
  • Aug 10, 2022 5:38am Aug 10, 2022 5:38am
Tp at 133.66 closed my trade.I didn't believe that it should be so agressive.
  • #85,720
  • Aug 10, 2022 5:52am Aug 10, 2022 5:52am
My thoughts/plan
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Don't compare your trades to others. Most often the masses are the asses
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