USD/JPY Discussion

I'd love to see it drop again to 147 so that I can buy it again.

Not today. Profit taken, switched to long

BE. Back to sell. This is not my usual pair, just fishing at the (maybe) top. Will just set 20 pip trailing stop to this trade and walk away

I have Cryptorocket. If I place limit, or stop orders AND change the expiration date.. I get positive fees until it expires. Part of why I love the broker. I once held a trade for a month only for price to break even, but had 100 in positive swaps.

LTT liked to demean, curse at and laugh at other people. Basically anyone who questioned his methods, trades, or anything really. As long as you agreed with him and complimented him he was golden. He had too many back to back suspensions for the same thing. He was new here. May very well have been kicked out of somewhere else before this. Not sure why folks can't be cordial when making money..

I have been on FF for years but rarely comment. The suspension of LTT brings so much joy that I had to share it.
It was painful reading his posts, especially when there were personal attacks. OBMM had his share of those.

Great news on Friday morning

Be positive and trade safely.

Unfortunately he was a reflection of what FF has become.
Never used to be like that in years gone by.
LTT was a con artist. All the clues were there.
No loss to FF. Pity a few more of the remaining charlatans don't get kicked out.

Nice, Week closing on correction, 149,228 next Buy, and Tp in the High of 2022 152,039

A different generation has come of age it seems. I wouldn't go so far as con artist. He used an Indicator. It wasn't bad.

Oh, I see. Hope he is ok.

What do you guys think of the outlook of USDJPY this week? Will we witness Japanese intervention or are we seeing a 150 in play through to 152..

USDJPY price action on the daily time frame turned sideways towards the end of last week as it printed a doji-like candlestick on Friday in opposition to the bullish candlestick of the previous day. The 150.00 psychological level (purple) has not been broken as a horizontal resistance for quite a while, but it is still under threat.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

why is that big movement again on UJ 2 hrs ago? forex factory again no report. where else i can get news on it?

It isn't always news. Sometimes it is price moving into place BEFORE the news. Not every big move is due to news. Sometimes technicals are at play

I for one do not think that they will intervene. At least not until 157 IMO. I could be wrong, but I don't see a true intervention until things become untenable. For me that is 157.

I also trying to understand this move...someone has an explanation? If it's technical, please share your thoughts.. I am unable to find a technical explanation and would like to learn

I've not frequented FF for a while, but as I'm back trading again (and making money, arbitrarily), I thought it might help to comment.

Please make note that my father worked for a major corporation, many decades ago, where he was actually able to make markets in currencies, such was the size of the denominations he had to deal with (internationally). He didn't recount these stories to me because of ego or bravado...only because they were true and he found them terribly amusing (as did I, which he relished in telling, given I was the only one of 4 other siblings that had any interest in his actual job).

Back in the 70's, he, as the portfolio manager of a major company, could actually make markets in currencies, where there was no good pricing on some currencies and the spreads between who was posting bids or offers created a major gap.

Regardless, years later, I started trading and listened to his stories...and realised that even though he KNEW fundamentals, and knew about the market, he couldn't just trade the market. His deep knowledge and proximity to fundamental news pretty much damned his ability to trade his own, small fund. Thus his attempts to do so, ended in failure. He did very well in business and in his role, but personally, the weight of knowledge clouded his ability to trade at the lower level.

The reason I say this, is that by admitting (as the poster is asking) that there might be NO good "known" reason for the move that happened...as it could be a major investor in currencies needed to unload a position, etc.)...then "we" will NEVER know what moved the market. This is actually good. Very good, indeed, to help validate that NO ONE KNOWS or can PREDICT the market movements. Even those that get nullified within a short time frame, it does not discount the fact that these moves/things happen. They happen for a "reason", but often the actual reason is only assumed, but never known.

Therefore, you need to trade with the idea that we're watching the market on a rope, which is a tug of war between two factions, each clouded in mystery. We don't know who's pulling, or when, or how many, or how strong they are, etc.

----------------------------
You need to trade on the basis of not knowing, but only taking judgments on what has occurred (esp. what has occurred recently - i.e., PA and indicator calculations on on that same PA), and react accordingly. Try to be proactive by placing your trades where you believe they will provide the outcome you desire, but there is NO PRECISION (ignoring all the support/resistance levels, fib. calculations, etc.)...again, NO PRECISION for trading.

This is all just ebb and flow, and you can calculate your levels and your stops and your RR and your WHATEVER...but it's all far "looser" than those calculations. Much more.

Check the range, check the target height, check your bowline tension, check your wind direction, check, check, check...and check again. But when you put on your trade, the variance of the market ("good" or "bad") is far less precise than anything else. Deal with the ebb and flow. Take what you can get. Let good trades run, to improve your RR (and don't be stupid and cut them off short, on an arbitrary 1:2 or 1:3 ratio) and see what you can get.

#USDJPY / H1

https://fx-rashinban.com/b00001-JPY/...2f21%92%a9%81j

https://www.tradingview.com/x/tgcYKPaG

1M to 1H are all in favor of a buy for Uj by price being above 50 ema. Only 5m structure here you can find an entry if you break the yellow ceiling.

Just note boj and other institutions are selling at a limit if price pokes 150.