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USD/JPY Discussion

  • #87,501
  • Nov 19, 2023 1:13pm Nov 19, 2023 1:13pm
USDJPY price action on the daily time frame disposed southwards on Friday, closing below the 150.00 level. But the technical pattern below the area does not favour a bearish momentum. Thus, any southward move of price action may soon face a bullish challenge.

I may be wrong. Trade safe and prosper.

KP

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Do your homework, follow the footprints of smart money
  • #87,502
  • Nov 20, 2023 1:15am Nov 20, 2023 1:15am
what is happening to UJ? What trigger the selling? Did not see any news or it still having the effect on the cpi data last week?
  • #87,503
  • Nov 20, 2023 1:41am Nov 20, 2023 1:41am
According to Jim Rogers, we may see an era of 200 yen to the dollar in the near future.
I agree, and from a fundamental perspective, I believe that the birthrate has continued to decline even more over the past few years to decades, and Japan's national power has declined, which will have a negative impact on the economy.

https://diamond.jp/articles/-/331772
  • #87,504
  • Nov 20, 2023 4:19am Nov 20, 2023 4:19am
Quoting ty235685
According to Jim Rogers, we may see an era of 200 yen to the dollar in the near future. I agree, and from a fundamental perspective, I believe that the birthrate has continued to decline even more over the past few years to decades, and Japan's national power has declined, which will have a negative impact on the economy. https://diamond.jp/articles/-/331772
i just need it to go back to 151 haha. Got one SL done on friday already
  • #87,505
  • Nov 20, 2023 4:49am Nov 20, 2023 4:49am
Quoting rockzz
Pure Tom Demark & Mouteki Analysis.. Chart clearly shows the projection. Thankyou FF members. {image}
Update:

Take Profit Level 2 reached...
  • #87,506
  • Nov 20, 2023 5:35am Nov 20, 2023 5:35am
Quoting FreeGary
what is happening to UJ? What trigger the selling? Did not see any news or it still having the effect on the cpi data last week?
Nothing goes on forever. We all need a rest. Will resume next week or two.
Don't compare your trades to others. Most often the masses are the asses
  • #87,507
  • Nov 20, 2023 2:47pm Nov 20, 2023 2:47pm
Quoting ty235685
According to Jim Rogers, we may see an era of 200 yen to the dollar in the near future. I agree, and from a fundamental perspective, I believe that the birthrate has continued to decline even more over the past few years to decades, and Japan's national power has declined, which will have a negative impact on the economy. https://diamond.jp/articles/-/331772
He is a posterity investor for the super long-term. By the time events happen, you will be a great grandfather or dead.
This is one investment in a bucket of thousands!
  • #87,508
  • Nov 20, 2023 3:02pm Nov 20, 2023 3:02pm
Quoting JourneyLife
{quote} He is a posterity investor for the super long-term. By the time events happen, you will be a great grandfather or dead.
LOL
  • #87,509
  • Nov 20, 2023 6:19pm Nov 20, 2023 6:19pm
Quoting OBsayMkMoney
{quote} Nothing goes on forever. We all need a rest. Will resume next week or two.
where is the low? can short now to hedge?
  • #87,510
  • Nov 20, 2023 7:02pm Nov 20, 2023 7:02pm
Quoting FreeGary
{quote} where is the low? can short now to hedge?
Mufg Forecasts (exchangerates.org.uk): "US Dollar to Yen Outlook: Sell USD/JPY at 149.60, Target 143.00 say MUFG"
This is one investment in a bucket of thousands!
  • #87,511
  • Nov 21, 2023 2:47am Nov 21, 2023 2:47am
Today's minutes of the US Federal Open Market Committee (FOMC) meeting predict that the dollar will rise again and head toward 150 yen to the dollar.What do you think?
  • #87,512
  • Nov 21, 2023 2:53am Nov 21, 2023 2:53am
Quoting ty235685
Today's minutes of the US Federal Open Market Committee (FOMC) meeting predict that the dollar will rise again and head toward 150 yen to the dollar.What do you think?
Don't fight the fed...
This is one investment in a bucket of thousands!
  • #87,513
  • Nov 21, 2023 2:55am Nov 21, 2023 2:55am
Quoting ty235685
Today's minutes of the US Federal Open Market Committee (FOMC) meeting predict that the dollar will rise again and head toward 150 yen to the dollar.What do you think?

never predict, react to the price action
  • #87,514
  • Nov 21, 2023 3:03am Nov 21, 2023 3:03am
Quoting bayugap
{quote} never predict, react to the price action
For some, it is better to be proactive than reactive.
This is one investment in a bucket of thousands!
  • #87,515
  • Nov 21, 2023 5:32am Nov 21, 2023 5:32am
Quoting bayugap
{quote} never predict, react to the price action
It is ok to predict. Just be strong enough to admit if your prediction is wrong and pivot. The problem isn't the prediction. It is the ego that then demands the prediction be true.

In my opinion.
Don't compare your trades to others. Most often the masses are the asses
  • #87,516
  • Nov 21, 2023 6:28am Nov 21, 2023 6:28am
Quoting FreeGary
{quote} where is the low? can short now to hedge?
You can, but being so close to 151 it may be less stressful to just drop the trade on the next retrace up. The 4hr appears to have peaked, but if so a retracement is in the wings. I think 150.1 area. Then we will need to finish the three leg down of the retracement. Someone quoted 143.. it is possible. Then I think we continue higher. If the market calls for an Xmas rally like it usually does the dollar will need to take a nap, and UJ longs will be in hibernation mode.
Don't compare your trades to others. Most often the masses are the asses
  • #87,517
  • Nov 21, 2023 6:34am Nov 21, 2023 6:34am
Quoting OBsayMkMoney
{quote} You can, but being so close to 151 it may be less stressful to just drop the trade on the next retrace up. The 4hr appears to have peaked, but if so a retracement is in the wings. I think 150.1 area. Then we will need to finish the three leg down of the retracement. Someone quoted 143.. it is possible. Then I think we continue higher. If the market calls for an Xmas rally like it usually does the dollar will need to take a nap, and UJ longs will be in hibernation mode.
hmm ok... thanks
  • #87,518
  • Nov 21, 2023 7:35am Nov 21, 2023 7:35am
Quoting FreeGary
{quote} hmm ok... thanks
This is what I see. I can be wrong though. But.. coming off of the high we had a wave 0 1 and 2. We are currently in wave 3. Wave 4 should retrace or go sideways. I think retrace. 150.1 area seems to be exciting. I Tp'd my shorts. Waiting to add more.
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Don't compare your trades to others. Most often the masses are the asses
  • #87,519
  • Nov 21, 2023 8:17am Nov 21, 2023 8:17am
Scalping UJ long. 150 area target. SL below the day's low. Will sell again at 149 area.
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Don't compare your trades to others. Most often the masses are the asses
  • #87,520
  • Nov 21, 2023 12:02pm Nov 21, 2023 12:02pm
UJ is still bullish. It hit record extremes and is a buy.
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This is one investment in a bucket of thousands!
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