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USD/JPY Discussion

  • #86,301
  • Nov 30, 2022 12:51am Nov 30, 2022 12:51am
Look at the last 4 daily candles.The pair is clearly struggling to make new highs. So what should you do other than telling your mother about this good news? You should look for shorting opportunities !!!!!!!!!!!!!!!
  • #86,302
  • Nov 30, 2022 8:33am Nov 30, 2022 8:33am
Quoting StoppedOut
Look at the last 4 daily candles.The pair is clearly struggling to make new highs. So what should you do other than telling your mother about this good news? You should look for shorting opportunities !!!!!!!!!!!!!!!
Logic does not apply to USD/JPY. Only wild speculation.
Don't compare your trades to others. Most often the masses are the asses
  • #86,303
  • Dec 1, 2022 10:58pm Dec 1, 2022 10:58pm
Quoting OBsayMkMoney
150.6 next stop. It will be blown though. Buying Oct... Selling Nov, then Buying Dec. if the retracement is done. Otherwise Jan.

Long through FOMC. Possibly a dip tomorrow, but starting Sunday Bullish lean for me. Daily wave 4 to take out the recent highs. Going to plan. I said buy october, sell november and buy December. So far so good. If plan continues to roll out 157 target, and buying crypto when it hits 12000-8000 area. Trade safe
Don't compare your trades to others. Most often the masses are the asses
  • #86,304
  • Dec 2, 2022 4:20am Dec 2, 2022 4:20am
thats 500+ pip dive in just a matter of days. wow. XXX/jpy pairs are really quite something of late.
  • #86,305
  • Dec 2, 2022 7:40am Dec 2, 2022 7:40am
rejection of 200 DMA after the NFP report?

could be a big bear trap
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don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #86,306
  • Dec 2, 2022 9:56am Dec 2, 2022 9:56am
Quoting ForexGoose
rejection of 200 DMA after the NFP report? could be a big bear trap {image}

We needed a wave 4 to the downside.. we got it. Now we take out the recent lows and then start our way up. IMO
Don't compare your trades to others. Most often the masses are the asses
  • #86,307
  • Dec 2, 2022 11:01am Dec 2, 2022 11:01am
Quoting ForexGoose
rejection of 200 DMA after the NFP report? could be a big bear trap {image}
i will sell it next week if it closes below the 200 DMA today
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #86,308
  • Dec 2, 2022 4:40pm Dec 2, 2022 4:40pm
Quoting ForexGoose
{quote} i will sell it next week if it closes below the 200 DMA today
I am already short 300 lots in 3 tronches!!! Up 90 pips altogether!!!!
  • #86,309
  • Dec 2, 2022 9:39pm Dec 2, 2022 9:39pm
it appears usdjpy is going after the august lows now!!
  • #86,310
  • Dec 3, 2022 3:18am Dec 3, 2022 3:18am
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!
A reminder for who didn't understand at the moment price was hovering 149-150, get it that you never go wrong on long term
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #86,311
  • Dec 4, 2022 1:35pm Dec 4, 2022 1:35pm
Dear USDJPY mates,

Hope you are all well. I have been waiting for long potential to happen again

I have a first buy stop 135.60, anticipating the 12H inverted hammer break out with the help of significant support. Note that it is also Friday's first 12H high AND, remember my 135.6 long many weeks ago which had done well AND half way from the recent lower low and my next buy stop 137.6, which would bring price right back into November levels + remember the extremely significant 29th of August move!

Many coincidences = pattern

2nd Chart is zoomed out to show that, not only is this a typical uptrend retracement, but also to remind myself what can happen when such levels are broken with enough sustained volatility (momentum)! Last time it was hit head on, it marked the reversal. So if price ever breaks below it, I will definitely be looking to short it AFTER any decent resistance under it, so after resistance formed <134...

Wishing to all fellow traders reading this an amazing trading week !!!!!

Quick updates of my live shares:
Quoting mtako
...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...
Quoting mtako
{quote} {quote}...15min volatility growth in high&tight momentum breaking the bear candle setup! Buy stop 137.70...
Quoting mtako
{quote} {quote} {quote}First dynamic TP for my second usdjpy adventure of the year is near enough to announce : 150.50, and will change, especially if not hit by Thursday. My 2 other positions' stops are trailing closely now, around 145 and 142. Notice the one target in the highs, while the others are trailing. Notice the awful drawdown! Potential...
Quoting mtako
{quote}{quote}{quote}{quote}My shared 137.7 long was closed today +1280 pips...
Quoting mtako
{quote}dynamic SL now at 147.77, securing +55
+977+1240
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If I don't mention SL and/or TP = longer-term setup possibly in the works!
  • #86,312
  • Dec 4, 2022 2:57pm Dec 4, 2022 2:57pm
USDJPY price action on the daily time frame is bearish. However, it is experiencing bullish challenge as it tackles the 135.900/132.300 horizontal support zone (green) seen on the weekly time frame. Although we may still see further southward move, a bullish pullback is imminent.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #86,313
  • Dec 4, 2022 9:45pm Dec 4, 2022 9:45pm
In the daily period, apparently the third rising wave of the senior level (3) has ended and as part of that wave 5 has been created in (3). In the 4-hour time frame, a downward corrective movement in the form of the fourth wave (4) has started to grow, in a way that wave A in (4) continues to be created. In the period of 1 hour, apparently, the fifth wave of the junior level, i.e. v, grows in A, and wave (iii) is created in v from within it. If the proposed assumptions are correct, the pair index will continue its downward movement to the levels of 127.32 to 133.16. In this scenario, the level of 139.90 is very important. The failure of this level will cause the pair to continue its upward movement towards the levels of 143.75 to 145.74.
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  • #86,314
  • Dec 4, 2022 11:29pm Dec 4, 2022 11:29pm
Observe the obvious its going lower.
  • #86,315
  • Dec 5, 2022 6:49am Dec 5, 2022 6:49am
I have a definite short bias .. BUT the 200 DMA is resistance for the moment. Lets see what type of bounce we get to short again.

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  • #86,316
  • Edited 7:08am Dec 5, 2022 6:52am | Edited 7:08am
We should be very awake now. We are near the great Weekly Support level. I think price will fail to break this level. Price has retraced far enough in my opinion.

We are looking for any fundamental reason to go back to buying USD. So far, nothing.
  • #86,317
  • Edited 8:13am Dec 5, 2022 7:08am | Edited 8:13am
This morning Im going to wait for ISM for volatility. I can only speculate that the number will be better then expected giving the $ a temporary rally ... which Ill use to start positioning a short again. If it stinks..and the $ sinks again with it .. Ill short a break of the 200 DMA on my charts. And if I miss it .. i miss it. Thats the plan for this morning anyhow..

Ill add that Im also watching the yield on the 10 year for help on near term direction.

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  • #86,318
  • Dec 5, 2022 10:04am Dec 5, 2022 10:04am
Starting to dip my toe in here to build a position. Tiny bites to $ cost in. Not to scalp. But to hold for a couple days. Prepared to add to short all the way to 138 ish. Will also add to short if the low is broken under the 200 DMA. Of course have a stop in place for that black swan event. Teaching my kids with this account..lol
  • #86,319
  • Dec 5, 2022 4:07pm Dec 5, 2022 4:07pm
Eventually going to near 120. Stop wasting your time and energy on useless some pips short term trades.
You wonder why big players and investors rarely loose and make lot of money? Because they trade long term like sold 149-150 and waiting for 120 or lower while enjoying their lives NOT looking at the screen every minutes like scalpers and small players do!!
My technical analysis leading trades depend on Daily/Weekly/Monthly Chart
  • #86,320
  • Dec 5, 2022 4:21pm Dec 5, 2022 4:21pm
USD/JPY 3Minute Timeframe

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Dont be upset with the result you didnt get from the work you didnt do
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