USD/JPY Discussion

granted we have been moving up, a close today under 134.50 should open up the chance for a bit of a pull back...

Hello, everyone. Short from 134.72. I hope the yen below 134.24. Waiting news from USA.

Might get a supply setup on the 15 minute. If price revisits that zone I'll be looking for a short setup. That trend line is holding for now, so I'm thinking it will revisit the zone. That horizontal line at 135.111 is the previous high from 2/17 and it failed to hold above that level. If I get the setup my stop will be just above the supply zone with a TP of at least 50 pips. Stop will move to break even once it's moved 20 pips in my favor. ...assuming the setup occurs in the first place, and plays out, obviously. I could always be wrong too.

It also looks as though UJ isn't trading in tandem with /ES as it has been. /ES moving lower alongside UJ instead of in opposite directions. My position in SH is looking pretty good today. lol

Sell triggered.

Guys... FOMC minutes are out this week. We have been bullish before and after the meeting. We may see some down action, but northward IMO. This feels like the slow bleed north to 150 we were in where everyone kept calling the top...

Stopped out at a small profit. Staying flat until after FOMC.

I am long … are you???

I'm long biased, but flat until tomorrow. I'm more of a day trader.

still holding up well after the fix!!!

Nice W pattern at support/demand zone on the 15 minute. Upside supported by /ES selling off.

Trying a short off this supply zone and will look to cover during Sydney/Tokyo. It could work out, or, I might just end up looking like a total jackass. LOL

I scratched the trade around breakeven. Just sitting on hands now. I'll see if I get a setup in either direction.

Back in short.

Trailed my stop into profit before bed, woke up and stopped out. Just waiting now. This pair has been a snoozer this week...

Trying to take out the high of the week. Waiting to see if it holds or fails.

I might take a short if I get a supply setup. I can actually see this pair correcting to the downside. Three failed pushes higher over the last week, and the H4 looks to be forming a rising wedge. I could always be wrong too.

The other "J's" seem to have bottomed out. Perhaps we did as well?

Got some JPY stuff on the calendar in about half an hour. I'll look for a setup after, open to either direction. Long, short, sideways... either way we're gonna have a lot of fun, right? lol Robin Hood Men in Tights reference.

That's a pretty sinister chart pattern on the S&P...

Might be getting an opportunity to fade the move up. I had two valid long entries setup in the middle of the night while I was sleeping, but obviously since I was sleeping I couldn't take them. lol As for the fade, it's kinda like the London Close trade. After that time there's not much will to keep moving price so it presents an opportunity for a counter-trend trade. The price extreme is usually in between 11am to 2pm NY time. It doesn't always present, but it often does. I'll see how things shape up over the next couple hours or so.