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USD/JPY Discussion 7 replies

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USD/JPY Discussion

Long from 133.90. Waiting asian session for Ueda first speech. Nobody is waiting surprises so the possibility of a bull trend should be logic. (But markets and logic aren't partners). We'll see.
My 3rd long position on this pair.

Mean revision at 139.58 for 1st target.
FVG for the 2nd.
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FED decision next week, I expect a rally until May 3 and then a dump

i may be wrong, but the market exaggerates prior to the FED all the time
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
went long from 136, target 137.2
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
Quoting jag1969
Long from 133.90. Waiting asian session for Ueda first speech. Nobody is waiting surprises so the possibility of a bull trend should be logic. (But markets and logic aren't partners). We'll see.
Markets were logic. I like the FVG area mentioned by 1 in 1 out. That's the area to take profit.
Quoting ForexGoose
FED decision next week, I expect a rally until May 3 and then a dump i may be wrong, but the market exaggerates prior to the FED all the time
Pre FOMC moves follow through until the Friday afterwards most times. This move up signals a dovish meeting is expected. The only thing that will stop this is a bad presser after the announcement, and Powell is a pro by now. Besides all that... ELLIOT WAVES say we are going to test 151 in the least, and blow it out of the water in my oppinion.
When you feel like you HAVE to trade is when you least should!
short to 134.75
let see on monday
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L-H-LH-HH -> B // H-L-HL-LL -> B
If you are looking for big retracements. Don't. Small and continue IMO.
When you feel like you HAVE to trade is when you least should!
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When you feel like you HAVE to trade is when you least should!
UJ 15M Wave 4 sideways action initiated. 135.5 is the floor. We will rock this region til end of day. Bears are still not convinced the party is over. We need to finish the 15m ABC consolidation and start the higher time frame wave 3.
When you feel like you HAVE to trade is when you least should!
USDJPY price action on the daily time frame is in a bullish mode. It issued a bullish continuation candlestick on Friday, technically breaking out of an area of consolidation that has been in place for nine days. We can expect further northward market engineering. Any southward move would be corrective as the dominant technical structure is bullish.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
Quoting KeenPips
USDJPY price action on the daily time frame is in a bullish mode. It issued a bullish continuation candlestick on Friday, technically breaking out of an area of consolidation that has been in place for nine days. We can expect further northward market engineering. Any southward move would be corrective as the dominant technical structure is bullish. I may be wrong. Trade safe and prosper. KP {image}
I have the same opinion bullish.
Quoting COGSx86
Im seeing the bulls with 5% interest in the USD where else are you getting guaranteed 5%? {image} {image}
Further acceleration, Apple quarantining 4.15%, where else are you getting that?

April 13th,
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Learn, a forex trader must, unlearn and relearn he will.
Quoting ForexGoose
went long from 136, target 137.2
took profit

I think it could go higher, but it is risky to enter long now before the FED
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
Quoting ForexGoose
{quote} took profit I think it could go higher, but it is risky to enter long now before the FED
The 4 days before FOMC are the best days to trade IMO. The market gives a hint starting wed, but by thursday night between 9 and 10 pm EST. the path it will take for the next 3 days is shown. Take out your chart and go back how ever many years you want to the wed-thur before FOMC and you should see a trend form. Only on rare occasion does it range during that time. For the next one, I would suggest just keep moving your SL higher to secure profits. But that's just me.
When you feel like you HAVE to trade is when you least should!
Buying the Dip
When you feel like you HAVE to trade is when you least should!
If the FOMC raises interest rates by 0.25%, I think the dollar will return to 137 yen.
Quoting ty235685
If the FOMC raises interest rates by 0.25%, I think the dollar will return to 137 yen.
Seems like the market is quite interested in grinding it down in anticipation.
Quoting OBsayMkMoney
Buying the Dip
Sorry but I would like to learn something if possible. How is the wave thing and buying the dip?

I get the move thing prior to the FED though.
Quoting enarco
{quote} Sorry but I would like to learn something if possible. How is the wave thing and buying the dip? I get the move thing prior to the FED though.
Buying the dip in this case is an A B C off of a 15m wave 5. On the bigger time frames we are still bullish, so while on smaller time frames this may look like a sell off. From a higher perspective it is but a dip. So when price dips down in a bullish environment bulls buy where there is support.
When you feel like you HAVE to trade is when you least should!
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