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USD/JPY Discussion

  • #85,741
  • Aug 12, 2022 7:08am Aug 12, 2022 7:08am
Quoting buffedmage
{quote} Thanks For the Nice words Man ! I Appreciate it ... yea , I'm relatively new to trading , trading since 2021..

No problem. Here. This will link will save you 60 dollars on the front end.. and Thousands in possible lost trades. Took me a while to come around to it even though it was offered to me early. But I am a hard headed person. Maybe you are not. lol

https://www.pdfdrive.com/glenn-neely...e30761270.html
Don't compare your trades to others. Most often the masses are the asses
  • #85,742
  • Aug 13, 2022 7:08pm Aug 13, 2022 7:08pm
Still early in the downtrend even though price has dropped 600 pips from the peak. I'm still targeting 125.30 and 121 next few weeks as potential spots for buying in the long term.

As long as 135.50 doesn't get taken out, I could see another massive sell-off coming next week.
  • #85,743
  • Aug 13, 2022 10:48pm Aug 13, 2022 10:48pm
"Looks like it might drop..." is not a strategy.

My favourite indicator is one called the double-line. I also use a 14-day (and week...) simple moving average. If price is below the 14DMA, as it is now and the double-line has changed colour on the Weekly, trend is changed to down.

You just have to watch for chop in the area of reversals. If it keeps chopping, it is most likely not a reversal but a range. In that case, it will most likely continue on trend, which is higher.

When price on the Weekly has crossed the double-line to the (up or) downside, the new trend is confirmed. When the double-line has crossed the 14 week simple moving average, you can expect big, big pips because the trend has pure momentum on its side and, generally speaking, the target is the strongest resistance area, which will most likely become support.
  • #85,744
  • Aug 14, 2022 1:42pm Aug 14, 2022 1:42pm
My four hour chart is showing some signs we may not have finished that three wave correction to the downside. If we did.. red is the path, but I believe we will pop once more. If it isn't done, then the extension falling at 136.9 should be a strong pull for bears to step in. All the Yen pairs are at extremes. The wolves are circling waiting for the first sign of weekness.

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Don't compare your trades to others. Most often the masses are the asses
  • #85,745
  • Aug 14, 2022 3:15pm Aug 14, 2022 3:15pm
USDJPY price action on the daily time frame turned sideways as it tackles the 131.290/130.380 horizontal support zone (green). Although the technical structure is bullish, recent candlestick pattern favours bears more than bulls and we may see further southward move in the early part of this week before a northward turnaround.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #85,746
  • Aug 16, 2022 7:53am Aug 16, 2022 7:53am
Yen is coming to an inflection point. Could be big or a profit taking point.

USDJPY can start to get toppy at 134.73

Currently really bullish all the way to 135
THESE PEOPLE WITH COLORED BADGES ARE NOT PROFESSIONAL TRADERS
  • #85,747
  • Aug 16, 2022 7:54am Aug 16, 2022 7:54am
this could be a break-out or fake-out again for bulls near 135.1
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,748
  • Aug 16, 2022 10:55pm Aug 16, 2022 10:55pm
USD/JPY South Bound train now boarding. I think we are in the last range. This appears to be the last small leg up before we drop starts tonight and will really take off tomorrow. Euro Market on deck.
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So.. let's see what is cooking in tomorrow's fundamentals that they will blame this on.

Oh hey. Look at that!!!
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Don't compare your trades to others. Most often the masses are the asses
  • #85,749
  • Aug 17, 2022 1:39am Aug 17, 2022 1:39am
22 min to the London open. Almost like someone wanted it high
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Don't compare your trades to others. Most often the masses are the asses
  • #85,750
  • Aug 17, 2022 2:25am Aug 17, 2022 2:25am
Quoting OBsayMkMoney
USD/JPY South Bound train now boarding. I think we are in the last range. This appears to be the last small leg up before we drop starts tonight and will really take off tomorrow. Euro Market on deck. {image} So.. let's see what is cooking in tomorrow's fundamentals that they will blame this on. Oh hey. Look at that!!! {image}
it looks bullish today with a target of 135.1 or even 135.5. It could also be a fake-bull.
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,751
  • Aug 17, 2022 6:15am Aug 17, 2022 6:15am
Quoting ForexGoose
{quote} it looks bullish today with a target of 135.1 or even 135.5. It could also be a fake-bull.
FOMC minutes today

if they are less hawkish than expected, USD/JPY should sell form current levels
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,752
  • Aug 17, 2022 6:40am Aug 17, 2022 6:40am
Quoting ForexGoose
{quote} it looks bullish today with a target of 135.1 or even 135.5. It could also be a fake-bull.
We seem to be saying the same thing, but you and I have a different definition of a bullish day. perhaps we are in different hemispheres. I am of the impression the daily candle will end up red. Making it bearish. I did however think that they would have reached this last top by now. Patience has always been my softest skill lol. Your target is in my red zone, or in this case Magenta
Don't compare your trades to others. Most often the masses are the asses
  • #85,753
  • Aug 17, 2022 7:10am Aug 17, 2022 7:10am
Quoting OBsayMkMoney
{quote} We seem to be saying the same thing, but you and I have a different definition of a bullish day. perhaps we are in different hemispheres. I am of the impression the daily candle will end up red. Making it bearish. I did however think that they would have reached this last top by now. Patience has always been my softest skill lol. Your target is in my red zone, or in this case Magenta
a dump would be nice from current levels today
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,754
  • Aug 17, 2022 7:35am Aug 17, 2022 7:35am
Quoting ForexGoose
{quote} a dump would be nice from current levels today {image}
Hopefully. US just got news. Made it hit my first possible target to the north and the US market isn't open yet. May push us to the second.. 136.05 ish. It is all a waiting game, but we will have our chance before week's end!
Don't compare your trades to others. Most often the masses are the asses
  • #85,755
  • Aug 17, 2022 7:41am Aug 17, 2022 7:41am
sold from 135.2, stop above 136, target 132.4 and below
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,756
  • Aug 17, 2022 8:05am Aug 17, 2022 8:05am
Quoting ForexGoose
sold from 135.2, stop above 136, target 132.4 and below
I am waiting on it to take out the two previous higher lows on the 15m. Then I too will pile some on.
Don't compare your trades to others. Most often the masses are the asses
  • #85,757
  • Aug 17, 2022 9:30am Aug 17, 2022 9:30am
Quoting ForexGoose
sold from 135.2, stop above 136, target 132.4 and below
Short it is imo.

problem for me is where, could fall any time but could go 50 pips more.

i sold 135.25
first tp for today 134.75
correction and then the big short
  • #85,758
  • Aug 17, 2022 9:37am Aug 17, 2022 9:37am
Quoting Whale
{quote} Short it is imo. problem for me is where, could fall any time but could go 50 pips more. i sold 135.25 first tp for today 134.75 correction and then the big short
i risked a short, but that is just me
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #85,759
  • Aug 17, 2022 9:40am Aug 17, 2022 9:40am
Quoting ForexGoose
{quote} i risked a short, but that is just me
Trading is risk,
its good risk.

pleasure to short with you.
  • #85,760
  • Aug 17, 2022 9:51am Aug 17, 2022 9:51am
Quoting Whale
{quote} Trading is risk, its good risk. pleasure to short with you.
EJ is better for short, considering eur is overbought on the fifth wave at M30 TF
https://breakpullback.com
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