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USD/JPY Discussion

  • #86,221
  • Oct 26, 2022 7:13am Oct 26, 2022 7:13am
Quoting PriceisKing
I am selling, target 146.5
Buying slowly again to 148.
  • #86,222
  • Oct 26, 2022 7:37am Oct 26, 2022 7:37am
This is a long term sell and forget level. Reminds me of 80 level with lots of BOJ interventions at that time and see where we are today Only idiots of speculators buy at current price levels!
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #86,223
  • Oct 26, 2022 8:10am Oct 26, 2022 8:10am
Quoting ChiForex
This is a long term sell and forget level. Reminds me of 80 level with lots of BOJ interventions at that time and see where we are today Only idiots of speculators buy at current price levels!
Nothing is certain in the market. If it failed at 80, it is not certain that it will fail again. The speculators who bought yen at 151 just before the intervention made lots of profit. The yen sellers got wrecked.
  • #86,224
  • Oct 26, 2022 9:17am Oct 26, 2022 9:17am
anyone on UJ with bullish sentiment , only me ?
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  • #86,225
  • Oct 26, 2022 11:09am Oct 26, 2022 11:09am
Quoting buffedmage
anyone on UJ with bullish sentiment , only me ?
Sentiments are slightly changing but not so fast. China is selling USD too buying their currency, UK politics is stabilising, EU buying oil in cooperation with other EU members and most of all US consumer confidence is down. Still selling yen for now, I dont think they will change their monetary policy on Friday (could be wrong of course). US will still raise rate on Nov and Dec. Next year will probably the true pivot and reversal.
  • #86,226
  • Oct 26, 2022 12:19pm Oct 26, 2022 12:19pm
Quoting ChiForex
This is a long term sell and forget level. Reminds me of 80 level with lots of BOJ interventions at that time and see where we are today Only idiots of speculators buy at current price levels!

Let's circle back on this one. I love it when they name call.
Don't compare your trades to others. Most often the masses are the asses
  • #86,227
  • Oct 26, 2022 12:20pm Oct 26, 2022 12:20pm
Quoting PriceisKing
{quote} Nothing is certain in the market. If it failed at 80, it is not certain that it will fail again. The speculators who bought yen at 151 just before the intervention made lots of profit. The yen sellers got wrecked.

No no he's right... Idiots... mmhm smh
Don't compare your trades to others. Most often the masses are the asses
  • #86,228
  • Oct 26, 2022 12:22pm Oct 26, 2022 12:22pm
Quoting buffedmage
anyone on UJ with bullish sentiment , only me ?
Bullish? No... Sideways? Yes. Then bearish for a few weeks.
Don't compare your trades to others. Most often the masses are the asses
  • #86,229
  • Oct 26, 2022 12:31pm Oct 26, 2022 12:31pm
Sometimes the most obvious place on the charts to buy is also the best place to buy. We'll see if this ends up being one of those. Short term trade, immediate target 147.8. S/L 146.16
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  • #86,230
  • Oct 26, 2022 12:34pm Oct 26, 2022 12:34pm
Quoting buffedmage
anyone on UJ with bullish sentiment , only me ?
First sell signal for a long time, no guarantee

What are you doing with that TE?

Or maybe, why TE?



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It takes a lot for me to IGNORE you, but you can try.
  • #86,231
  • Oct 26, 2022 4:12pm Oct 26, 2022 4:12pm
Elevator go up..
Don't compare your trades to others. Most often the masses are the asses
  • #86,232
  • Edited 5:12pm Oct 26, 2022 4:41pm | Edited 5:12pm
Quoting ICouldBWrong
Sometimes the most obvious place on the charts to buy is also the best place to buy. We'll see if this ends up being one of those. Short term trade, immediate target 147.8. S/L 146.16 {image} {image}
Stopped out and got back in for now. Dxy likely due for a correction at some point around these levels. Will continue to watch both U/J and dxy closely.

Edit: Out for now. It's not ready yet. Will look for potential re-entries below or after some consolidation.
  • #86,233
  • Oct 26, 2022 5:37pm Oct 26, 2022 5:37pm
Quoting ICouldBWrong
{quote} Stopped out and got back in for now. Dxy likely due for a correction at some point around these levels. Will continue to watch both U/J and dxy closely. Edit: Out for now. It's not ready yet. Will look for potential re-entries below or after some consolidation.
I will keep mine for now (small positions). There might be another spike to enter at 145.5. They are talking about stimulus to be announce tomorrow.
  • #86,234
  • Oct 26, 2022 8:08pm Oct 26, 2022 8:08pm
Quoting Erebus
{quote} First sell signal for a long time, no guarantee What are you doing with that TE? Or maybe, why TE? {image}
haha , no , just for me to look my stats , since I'm in the process of learning from bad trades. helps me with detailed analysis of my trading .TE also with MT4 stats helps me to determine where i could be improved in future
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  • #86,235
  • Edited 10:26pm Oct 26, 2022 10:12pm | Edited 10:26pm
just my two cents...

I stop trading JPY not because of the intervention, but because Russia started missile drills -- missiles that can carry nukes. If Putin launches one for real, even a small limited powered one, which would mess up the market pretty badly. I think JPY gets mighty strong in a second the news comes in. And I wouldn't be surprised if the spike is huge like Swiss Franc shock in 2015. Stop Loss may not work against that kind of surge.

Of course I stop taking a long position in xxxUSD, too because USD is likely to get strong if that happens.

Oh, well call me crazy. But anything can happen these days....

https://www.ft.com/content/e28b0aa8-...4-4e346ebda68a
  • #86,236
  • Edited 11:40pm Oct 26, 2022 10:32pm | Edited 11:40pm
Quoting ICouldBWrong
{quote} Stopped out and got back in for now. Dxy likely due for a correction at some point around these levels. Will continue to watch both U/J and dxy closely. Edit: Out for now. It's not ready yet. Will look for potential re-entries below or after some consolidation.
Ended up going short when it retested the 146.3 area. Rode it down to around 145.6, so made my money back plus a bit more after the s/l. Decided to go long right above the previous low from earlier this week (around 145.52). After it broke through that previous low I went short again with a smaller position. I don't fully trust that this isn't just stop hunting by the MMs so I don't want a large position at these levels. I know my trading here is all over the place here, but I'm in the green right now so no regrets..

Edit: Exited that last short with the first new hh on 15 minute candle for tiny profit. Will considering shorting again at the turn of the hour (depending on how it's behaving).
  • #86,237
  • Oct 27, 2022 2:23am Oct 27, 2022 2:23am
Out at BE for now. Buy order in case it hits 144.2 again. Happy trading everyone.
  • #86,238
  • Edited 3:57am Oct 27, 2022 3:40am | Edited 3:57am
Went to sleep so I put a sl on my long.. blew it. Getting back in. Waiting on another 15m correction to do so. Not going far though IMO. 148 area target. A lot of news is out today, so be careful out there. Small lots. Until confirmation, then wait for retests. Tonight starts the countdown to the FOMC announcement. Coincidentally JPY has news out. One last order fill before the dip to the lower 40's / upper 30's. One last psych out. IMO
Don't compare your trades to others. Most often the masses are the asses
  • #86,239
  • Oct 27, 2022 3:43am Oct 27, 2022 3:43am
Quoting Forexgogo
just my two cents... I stop trading JPY not because of the intervention, but because Russia started missile drills -- missiles that can carry nukes. If Putin launches one for real, even a small limited powered one, which would mess up the market pretty badly. I think JPY gets mighty strong in a second the news comes in. And I wouldn't be surprised if the spike is huge like Swiss Franc shock in 2015. Stop Loss may not work against that kind of surge. Of course I stop taking a long position in xxxUSD, too because USD is likely to get strong if that...

This is interesting news. Thank you! Here's what can happen if that occurs and oil losses it's grip.
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Don't compare your trades to others. Most often the masses are the asses
  • #86,240
  • Oct 27, 2022 12:56pm Oct 27, 2022 12:56pm
Quoting PriceisKing
{quote} Nothing is certain in the market. If it failed at 80, it is not certain that it will fail again. The speculators who bought yen at 151 just before the intervention made lots of profit. The yen sellers got wrecked.
Some things are definitely certain....
Not weeks nor months but years will teach u and ull remember my words like many others did before u
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
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