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USD/JPY Discussion

  • #87,001
  • Edited 9:30pm Jul 23, 2023 9:20pm | Edited 9:30pm
LONG 141.3. Tp 143
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Don't compare your trades to others. Most often the masses are the asses
  • #87,002
  • Jul 24, 2023 7:08am Jul 24, 2023 7:08am
#USDJPY / H4
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  • #87,003
  • Jul 24, 2023 7:38am Jul 24, 2023 7:38am
Looking for 140.45 or better.
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  • #87,004
  • Jul 24, 2023 8:51am Jul 24, 2023 8:51am
US PMI not as bad. Slight drop in services PMI but still above 50 and an improvement in manufacturing PMI though still below 50. Prolly will test 142
  • #87,005
  • Jul 25, 2023 12:19pm Jul 25, 2023 12:19pm
Uptrend continuation aligned with 50% Fib
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  • #87,006
  • Jul 26, 2023 9:40am Jul 26, 2023 9:40am
FOMC TODAY!!!!!

So .. we find ourselves with a little running room to the top and 4 hours to the announcement. If we rally this morning I think the fed punts the ball. Either way though UP is the direction from the looks of it. Good lux out there.
Don't compare your trades to others. Most often the masses are the asses
  • #87,007
  • Jul 28, 2023 11:33am Jul 28, 2023 11:33am
JPY pairs almost back to where they were. Without that news USDJPY would be around 143 maybe.
  • #87,008
  • Jul 28, 2023 2:05pm Jul 28, 2023 2:05pm
Quoting Eren10
JPY pairs almost back to where they were. Without that news USDJPY would be around 143 maybe.
Agreed. I'm buying dips to 152. Mr. Yen believes it will go to 165 before BOJ intervenes again.
  • #87,009
  • Jul 28, 2023 3:43pm Jul 28, 2023 3:43pm
Quoting BlackLotus
{quote} Agreed. I'm buying dips to 152. Mr. Yen believes it will go to 165 before BOJ intervenes again.
I don’t know what BOJ did but it looks like markets tries to remove what they did.

At 150 BOJ had intervened. Let’s see if the price can get there.
  • #87,010
  • Jul 29, 2023 5:39am Jul 29, 2023 5:39am
What I'm watching.

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  • #87,011
  • Edited 4:53pm Jul 30, 2023 12:53am | Edited 4:53pm
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USD/JPY
when long traders is more than short traders USDJPY went down
when long traders is less than long short traders USDJPY went up
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  • #87,012
  • Jul 30, 2023 2:55pm Jul 30, 2023 2:55pm
Recent USDJPY price action on the H4 time frame shows a southward liquidity clearing or sweep. This potentially leaves open a probable northward liquidity grab. Although price action is retesting the 140.550/142.200 horizontal resistance area (blue), seen on the daily time frame, the technical impulse favours bulls.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #87,013
  • Jul 31, 2023 3:42am Jul 31, 2023 3:42am
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  • #87,014
  • Jul 31, 2023 4:39pm Jul 31, 2023 4:39pm
Quoting OBsayMkMoney
{quote} With FOMC next week, the following 36 hours are critical IMO. FOMC direction usually starts on UJ either the Wed, or Thursday before. I say Thursday, but others have shown turns in the chart the Wed before during the Asian session. What I don't like is that we are at the top of a range, and hit a liquidity pool. The 1HR chart seems to say this is a wave 4, or for those who look for heads and shoulders, it looks like we came off the head and are forming he right shoulder. I believe you are correct that we will be one directional for the next...

Monthly calendar then..

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and now.. at 101.47 and ready to close out the month with a nice hanging hammer.
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As you can see we pushed up as anticipated. 101.47 is where we currently are. 101.4 predicted. This was due to the fact that the monthly candle was way out of pocket and would have signaled a sell off had it closed where it was. This along with price action on the lower time frames of the instruments going against the dollar, and I was able to trade the dollar up to the end of the month. At current levels we can either go sideways, or up. I am banking on up.
Don't compare your trades to others. Most often the masses are the asses
  • #87,015
  • Jul 31, 2023 9:17pm Jul 31, 2023 9:17pm
TP 145.300. Jamming SL at breakeven...
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  • #87,016
  • Jul 31, 2023 10:39pm Jul 31, 2023 10:39pm
I nailed a couple of shorts on USDJPY - looking for a swing low into the 140.830 area.
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Discouragement is the language of the devil. Results over hype.
  • #87,017
  • Jul 31, 2023 11:54pm Jul 31, 2023 11:54pm
Quoting imjoshbrown
I nailed a couple of shorts on USDJPY - looking for a swing low into the 140.830 area. {image}
If it goes any farther it will hit the south pole
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Don't compare your trades to others. Most often the masses are the asses
  • #87,018
  • Aug 1, 2023 7:24am Aug 1, 2023 7:24am
I tk a small toss, waiting on a new high of the week before taking another short. It's only Tuesday of the trading week, left not blow up the account guys!
Discouragement is the language of the devil. Results over hype.
  • #87,019
  • Aug 1, 2023 8:47am Aug 1, 2023 8:47am
Quoting imjoshbrown
I tk a small toss, waiting on a new high of the week before taking another short. It's only Tuesday of the trading week, left not blow up the account guys!

If you don't mind my asking why are you only shorting a bullish run? If you are a counter trader, why not counter trade the areas of consolidation? Especially UJ. When it goes on a run the consolidation areas are small. I am not putting your system down. Just trying to understand.
Don't compare your trades to others. Most often the masses are the asses
  • #87,020
  • Aug 1, 2023 10:39am Aug 1, 2023 10:39am
USD/JPY Daily Chart to confirm Long tommorow.
Retracement expected tommorow and on Thursday, while on Friday we should be seeing another leg up starting to form od Daily Chart.
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