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USD/JPY Discussion 6 replies

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USD/JPY Discussion

Quoting hanzohas
Giving another try. On slightly bigger TF, aiming for around wave 2 area. Expecting intermediary support on triangle lower line. {image}
THis looks gud, totally agree with this...
Hoping the Market doesn't fukkk us up
Quoting tiborf71
we guessed right, the bear correction happened in the morning. after that, the price went north, as a result of which another bearish correction is now expected. H1. maybe i'm wrong.
update.
the correction option has failed, so the exchange rate can go in any direction again.
H1.
I traded GBPJPY almost every day last week as it featured on my strength vs weakness tables (something I've built to tell me what's moving in the FX space).

I was aiming to trade support at 174.50 and 175.00. I got it about right and price rallied over 700+ pips to the highs of 182.00.

My thinking was and is that, fundamentally, BoE Gov Bailey stated that interest rates could reach as high as 5.75%. Rates currently stand at 4.50% and the market bought into the comments and is now pricing in significant rate rises from the BoE.

My weekly chart shows price is trading above previous resistance which was formed by the lows on 13th September 2015 at 180.75. This level could act as support for getting long in this market again.

The next level of resistance on my weekly chart is up at 188.00, which was a right shoulder of a head and shoulders pattern.
I'm thinking if this sentiment continues we could see GBPJPY trade another 700-800 pips higher.

On my hourly chart price formed a high at the 180.75 resistance, this week this could be used as support/entry as it holds confluence with a 50 moving average and a trend line.

We'll see.
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Quoting Chas-Clifton
I traded GBPJPY almost every day last week as it featured on my strength vs weakness tables (something I've built to tell me what's moving in the FX space). I was aiming to trade support at 174.50 and 175.00. I got it about right and price rallied over 700+ pips to the highs of 182.00. My thinking was and is that, fundamentally, BoE Gov Bailey stated that interest rates could reach as high as 5.75%. Rates currently stand at 4.50% and the market bought into the comments and is now pricing in significant rate rises from the BoE. My weekly chart shows...
although I am a scalper and I trade on a completely different basis, the situation of gbp/jpy is also an important detail for me, among other things, this pair is also part of the puzzle to find out what the intention of usd/jpy . your analysis seems logical, I see you combine technical and fundamental analysis, which can bring good results if done well.
good luck.
EUR/JPY.
I can see that the balance has been upset.

sell. 154,955
SL. 155,400
tp. open
Quoting hanzohas
Giving another try. On slightly bigger TF, aiming for around wave 2 area. Expecting intermediary support on triangle lower line. {image}
still loyal to the plan

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FVG reached @ 142.249 and I'm out of my final long.

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This Could Be A High Probability Setup

Short is on USDJPY With Initial Targets 141.300

Extension go down further Big Time

I had Shorts On before But I mistakenly Set the Helper EA to wrong TP levels

It closed the Orders Obviously

I Am In Again

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Lets See HW THIS DEVELOPS
HBS - Hussain Bin Salman
OK Target Is Hit

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Lets see now
HBS - Hussain Bin Salman
Quoting moondoggie
USDJPY has thrown me into an existential crisis about my ability as a trader. If one follows my posts, I've had a fairly decent start to my trading career, reaching a +100% within my first year trading. I fear now that this may be beginner's luck, because none of my analytical methods seem to be making sense of this pair. The pair has been strongly bullish for the past 3 months, with March giving me the biggest bearish fakeout of my new trading career. I've been misinterpreting the chart since then, banking on the BOJ to change its YCC policies...
Never give up, buddy. What you're going through happens to literally everyone in this business. I hope you cashed out your 100% profit.

Like others have mentioned, focusing more on technicals might help. Or switch to another pair. Personally I don't trade UJ much anymore. I like to keep things simple - just EU and SPX500 for me, (and occasionally GU).

Don't beat yourself up for not being perfect. This business will kick the living shit out of you if you let it. Gather yourself and re-focus. You can do it!
Quoting hanzohas
{quote} still loyal to the plan {image}
closed @ 141.3xx
Quoting fxpipper
{quote} Never give up, buddy. What you're going through happens to literally everyone in this business. I hope you cashed out your 100% profit. Like others have mentioned, focusing more on technicals might help. Or switch to another pair. Personally I don't trade UJ much anymore. I like to keep things simple - just EU and SPX500 for me, (and occasionally GU). Don't beat yourself up for not being perfect. This business will kick the living shit out of you if you let it. Gather yourself and re-focus. You can do it!


,To me..

UJ is d most predictable Pair...
Never made money in Forex till I started trading NAS100 and USDJPY.

Currently, I am trading only USDJPY cos it's d most stable of d duo.
Quoting briancollins
{quote} M definitely sticking with d bulls for now.. This week, U expect the currency to Range with more bullish swings though... Perfect to throw in some EA..

Still maintaining the Range bias but, seems d bears are stronger

Anyone with a gud Range strategy will make a lot of money this week
Quoting briancollins
{quote} Still maintaining the Range bias but, seems d bears are stronger Anyone with a gud Range strategy will make a lot of money this week
so yes, my arbitrage analysis also shows usd/jpy will continue to fall.
H1.
I could be wrong.
OK This is USDJPY Short Term Trade I couldnt post before was very busy with Other Trades

Anyway here is the outlook

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Target Is Currently 141.432 Lets See this one

This is USDJPY Medium Term Trade with Target Currently at 141.400

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I run two Plans and They are my Own Made

One Medium Term And Other Short Term

More about it is in my own thread
HBS - Hussain Bin Salman
Quoting Tpttonly
OK This is USDJPY Short Term Trade I couldnt post before was very busy with Other Trades Anyway here is the outlook {image} {image} Target Is Currently 141.432 Lets See this one This is USDJPY Medium Term Trade with Target Currently at 141.400 {image} {image} I run two Plans and They are my Own Made One Medium Term And Other Short Term More about it is in my own thread


I took 141.560 as TP. Going into Asian Market with it from the looks of it, and finishing during London session. NAS100 is also in the same pattern IMO. 148708 first target there, with room. I think we are bearish into the news in the morning. (Thurs EST) Friday the latest.
When you feel like you HAVE to trade is when you least should!
Quoting hanzohas
{quote} still loyal to the plan {image}
Your count may be off.
Waves 2 and 4 are COUNTER TREND waves. In order for them to have taken place price has to LEAVE the trend. So.. Put a trendline on the move, and wait for it to be broken. No break. No wave 2 or 4. IMO. This is what I see.

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Also.. if wave 2 is flat.. Wave 4 is volatile, and vice versa.
When you feel like you HAVE to trade is when you least should!
Quoting OBsayMkMoney
{quote} Your count may be off. Waves 2 and 4 are COUNTER TREND waves. In order for them to have taken place price has to LEAVE the trend. So.. Put a trendline on the move, and wait for it to be broken. No break. No wave 2 or 4. IMO. This is what I see. {image} Also.. if wave 2 is flat.. Wave 4 is volatile, and vice versa.
I know EW in and out I don't follow it religiously, just using it for tracking and exiting trades.
I think my count is not bad, I have followed alternation rules for both impulse and corrections, and 4 actually falls out.

1 & 3 = simple, 5 = complex
2 = simple, 4 = complex

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Quoting hanzohas
{quote} I know EW in and out I don't follow it religiously, just using it for tracking and exiting trades. I think my count is not bad, I have followed alternation rules for both impulse and corrections, and 4 actually falls out. 1 & 3 = simple, 5 = complex 2 = simple, 4 = complex {image}
OK
No offense meant.
When you feel like you HAVE to trade is when you least should!
Quoting OBsayMkMoney
{quote} OK No offense meant.
no worries, not offended at all
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