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USD/JPY Discussion

  • #86,421
  • Jan 20, 2023 7:55pm Jan 20, 2023 7:55pm
Quoting ForexGoose
{quote} stopped out with minor profit, bulls are not yet ready to exceed 130 it seems
Is Friday Mate, Price tends to retract towards the closing time (Profit Taking),

Let see what happens on Monday...
  • #86,422
  • Jan 22, 2023 12:39pm Jan 22, 2023 12:39pm
USDJPY price action on the daily time frame turned sideways after bulls resisted the bearish drive to the 126.100/128.700 weekly demand zone (blue). However, the recent ‘wicky tops’ indicate bears are still influential in the market and we cannot rule out further southward move in the early part of this week.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #86,423
  • Jan 27, 2023 1:44am Jan 27, 2023 1:44am
Bullishness- nothing crazy 800-1200 points, flag pattern break or the real inverse head ands shoulders 5000+ lol

Rate will be going up next week, that means higher dollar
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Learn, a forex trader must, unlearn and relearn he will.
  • #86,424
  • Edited 7:09am Jan 27, 2023 6:03am | Edited 7:09am
Long 129.700

SL 129.300
TP 140.000

Edit: out of the trade slightly in plus. Waiting for Fed.
  • #86,425
  • Jan 29, 2023 1:14pm Jan 29, 2023 1:14pm
USDJPY price action on the daily time has rejected the 128.070/126.100 horizontal support (blue) seen on the weekly time frame but, presently, it is sideways. This could be seen as a technical pause before further northward market engineering to an area of value. Intra-day traders may be watching lower time frames for momentum shift in the early part of this week. Personally, as a medium-term swing trader, I will await the daily close on Monday, or a momentum shift on the H4 time frame, before looking for a trading opportunity.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #86,426
  • Jan 29, 2023 4:12pm Jan 29, 2023 4:12pm
Quoting COGSx86
Bullishness- nothing crazy 800-1200 points, flag pattern break or the real inverse head ands shoulders 5000+ lol Rate will be going up next week, that means higher dollar {image}
Yep.. it is crazy how they telegraph FOMC. Expected though, so not that much volatility like you said.
Don't compare your trades to others. Most often the masses are the asses
  • #86,427
  • Jan 30, 2023 11:18pm Jan 30, 2023 11:18pm
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Here is the update, and look at the range. Very nice.
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Learn, a forex trader must, unlearn and relearn he will.
  • #86,428
  • Jan 31, 2023 8:37am Jan 31, 2023 8:37am
Quoting OBsayMkMoney
{quote} Yep.. it is crazy how they telegraph FOMC. Expected though, so not that much volatility like you said.

Here is the chart to follow for fed rate hikes, the FED rate hike follows Governments need for funds from bond auction,
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Learn, a forex trader must, unlearn and relearn he will.
  • #86,429
  • Jan 31, 2023 10:11am Jan 31, 2023 10:11am
Quoting COGSx86
{quote} Here is the chart to follow for fed rate hikes, the FED rate hike follows Governments need for funds from bond auction, {image}
Do you mind mansplaining that a bit? So when the FED needs funds the 3yr goes up triggered by rate increase? Gonna see how Youtube splains this too. Thanks.
Don't compare your trades to others. Most often the masses are the asses
  • #86,430
  • Feb 1, 2023 5:46am Feb 1, 2023 5:46am
I will sell after the FOMC today

the 130 area looks like strong resistance for now
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
  • #86,431
  • Feb 1, 2023 7:26am Feb 1, 2023 7:26am
USD/JPY near 129.21 S (look at H4 Chart).
  • #86,432
  • Feb 1, 2023 1:00pm Feb 1, 2023 1:00pm
Wednesday 6:30 Mst is the Japan market open time, Is it not a coincidence the market turns at these points? GO back and find more confirmation, post it here. See you will.

And did I not call exactly where price was going to go? lol wow. Talk about being in the zone.
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Learn, a forex trader must, unlearn and relearn he will.
  • #86,433
  • Feb 2, 2023 2:56am Feb 2, 2023 2:56am
USDJPY reached a major falling trend line on a daily.
Even though the market was consolidating with a horizontal range for some time,
the touch of the trend line pushed the pair to the downside.
The market broke and closed below the support of the range.
I believe that the pair will keep falling.
Goals: 127.77 / 126.85
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Trade what you see not what you think!
  • #86,434
  • Feb 3, 2023 3:23am Feb 3, 2023 3:23am
Hope will reach support in nice trending mode

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wise man say, only fools rush in
  • #86,435
  • Feb 3, 2023 4:40am Feb 3, 2023 4:40am
Were not finished dropping yet
  • #86,436
  • Feb 3, 2023 5:32am Feb 3, 2023 5:32am
On the one hand, the oscillator indicators on D1 show divergence so it’s a strong signal that USD/JPY is ready to lift off. But I think I would wait a bit to get additional confirmation.
  • #86,437
  • Feb 3, 2023 6:20am Feb 3, 2023 6:20am
Quoting FederalTrade
Were not finished dropping yet
yeah, but the market is 200pts up. It was alos conflicting with gbpusd short. Cause both have usd so if one goes sharply lower then other one rises.
  • #86,438
  • Feb 3, 2023 6:34am Feb 3, 2023 6:34am
Quoting FederalTrade
Were not finished dropping yet
yeah, but the market is 200pts up. It was alos conflicting with gbpusd short. Cause both have usd so if one goes sharply lower then other one rises.
  • #86,439
  • Feb 3, 2023 9:10am Feb 3, 2023 9:10am
I think Biden Admin is manipulating the job numbers. With so much debt and inflation, I don't understand how the USD is so strong.
  • #86,440
  • Feb 3, 2023 10:20am Feb 3, 2023 10:20am
Quoting alsup1955
I think Biden Admin is manipulating the job numbers. With so much debt and inflation, I don't understand how the USD is so strong.
It's to be expected

1. DXY has fallen from 113 to 101 in only 3 months without any "real" pullback.

2. The "market" kept saying the FED was going to pivot and there was massive shorting of USD

3. ZeroHedge wrote an article 1 or 2 months ago about the US jobs data and how it is being "corrected" several months AFTER the fact.
...because you never know - until you do!
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