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USD/JPY Discussion

  • #87,041
  • Aug 11, 2023 6:17am Aug 11, 2023 6:17am
double top? if so, first target 137/8 then 130/1
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  • #87,042
  • Aug 11, 2023 9:20am Aug 11, 2023 9:20am
Quoting OBsayMkMoney
UJ Daily. We appear to be pushing our way up. My first target is 144.244. I chose this target because on the daily this move currently has two option patterns to the upside. Option one. We are in an ABC correction to the DOWNSIDE, and the A has been formed sending us up for the B. My Fib puts that B at 144.244. When my FIB hit that number I remembered it as a number that was targeted previously and did a search of FF looking for it. I found a posting from Oct. 2022 (not mine) where this level was posted as resistance. As much as I want this to fly...
The daily closed above 144.666. Only barely, though, so let's see if these current highs get breeched.
Don't compare your trades to others. Most often the masses are the asses
  • #87,043
  • Aug 11, 2023 10:04am Aug 11, 2023 10:04am
147.5 next.
I see a double top at 152 in a month or so based on my seasonality research.
I don't understand why would anyone buy Yen when you can collect sweet swaps.
Too bad my broker does not allow me to buy MXN/JPY - sweeter swaps there.
  • #87,044
  • Aug 11, 2023 4:31pm Aug 11, 2023 4:31pm
Quoting BlackLotus
147.5 next. I see a double top at 152 in a month or so based on my seasonality research. I don't understand why would anyone buy Yen when you can collect sweet swaps. Too bad my broker does not allow me to buy MXN/JPY - sweeter swaps there.
Really? Can you post a chart of that? Do use a neckline break for Double Top confirmation; if so, what is that price level?

Thanks.
It takes a lot for me to IGNORE you, but you can try.
  • #87,045
  • Aug 11, 2023 6:57pm Aug 11, 2023 6:57pm
monthly chart doesn't show double top pattern yet, and it's too early to make the call
it is not even near the previous top 152
but for daily chart it is near end of June high 145 level and it has got the neckline at around 137/8 level
so if the daily chart forms the double top pattern then you will have very good risk/reward ratio.
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  • #87,046
  • Aug 12, 2023 10:11am Aug 12, 2023 10:11am
Short term bears have their target. They showed us during the news volatility. Placing buy limit here when we open. We had a bullish week. High probabiity Monday will be bear food. Good luck.

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Don't compare your trades to others. Most often the masses are the asses
  • #87,047
  • Aug 13, 2023 1:17am Aug 13, 2023 1:17am
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  • #87,048
  • Aug 13, 2023 3:22am Aug 13, 2023 3:22am
Soon we will find out it if the Nov/Dec sell off was just a correction or not.
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  • #87,049
  • Aug 13, 2023 3:03pm Aug 13, 2023 3:03pm
USDJPY price action on the daily time frame is bullish. As it is presently near the 145.600/146.600 supply area (red), we may see bulls incentivized for further northward liquidity engineering, which may even target a higher-level supply area before a bearish correction. The dominant trend is bullish.

I may be wrong. Trade safe and prosper.

KP


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Do your homework, follow the footprints of smart money
  • #87,050
  • Aug 13, 2023 8:35pm Aug 13, 2023 8:35pm
UY 145.23 is the peak this month!
  • #87,051
  • Aug 13, 2023 8:43pm Aug 13, 2023 8:43pm
Quoting ventureinves
UY 145.23 is the peak this month!
Why? Policy change? Intervention? Technical analysis?

I believe we're still going to revisit 152.
  • #87,052
  • Aug 13, 2023 8:56pm Aug 13, 2023 8:56pm
last intervention on 22/9/2022 when USDJPY was at 145 level
daily price range 145.9-140.3
then it took almost half month until 12/10/2022 for USDJPY to broke above 145.9
so anything in between 145-145.9 could be the peak of this month unless it breaks above 145.9
then theres chance to revisit 152.
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  • #87,053
  • Aug 13, 2023 9:11pm Aug 13, 2023 9:11pm
Quoting greenpip888
last intervention on 22/9/2022 when USDJPY was at 145 level daily price range 145.9-140.3 then it took almost half month until 12/10/2022 for USDJPY to broke above 145.9 so anything in between 145-145.9 could be the peak of this month unless it breaks above 145.9 then theres chance to revisit 152. {image}
Sept 22 intervention did not change anything and it was erased in 2 days. Oct 21 & 24 changed the trend.

So just like before I'm not worried about the first intervention. I'm keeping my SL close 30 pips or so and I'm buying all the dips.
  • #87,054
  • Aug 13, 2023 11:08pm Aug 13, 2023 11:08pm
just look at what happened a month ago
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  • #87,055
  • Aug 13, 2023 11:25pm Aug 13, 2023 11:25pm
Here is how I see it.
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  • #87,056
  • Aug 13, 2023 11:39pm Aug 13, 2023 11:39pm
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  • #87,057
  • Aug 13, 2023 11:53pm Aug 13, 2023 11:53pm
Long GJ TP 184, SL 183.40
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  • #87,058
  • Aug 14, 2023 3:03am Aug 14, 2023 3:03am
Quoting BlackLotus
Long GJ TP 184, SL 183.40 {image}
IS THIS USDJPY????
  • #87,059
  • Aug 14, 2023 5:44am Aug 14, 2023 5:44am
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  • #87,060
  • Aug 14, 2023 7:57am Aug 14, 2023 7:57am
Quoting OBsayMkMoney
Short term bears have their target. They showed us during the news volatility. Placing buy limit here when we open. We had a bullish week. High probabiity Monday will be bear food. Good luck. {image}
my lonely limit. Will leave it there.
Don't compare your trades to others. Most often the masses are the asses
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