I would use this opportunity to buy the usdjpy. This is going higher
- #87,742
- Feb 28, 2024 10:53pm Feb 28, 2024 10:53pm
- Joined Jul 2023 | Status: Aspiring trader | 1,132 Posts
- #87,745
- Feb 28, 2024 11:44pm Feb 28, 2024 11:44pm
- Joined Oct 2008 | Status: Trader | 1,511 Posts
Some things to remember.
1. Today is the end of the month = capital inflows from pension funds, hedge funds, banks, prop trading houses.
2. Dogs pissing on the same post. One dog pisses on a post (BOJ), along comes another bigger dog and pisses all over the exact same spot (Europe). Then comes another even bigger dog who pisses all over the exact same post (the US traders, man do they hate anyone other than them driving the PA, they will often (but not always) take out weak stops first then go into reversal).
3. +ve swap rates on UJ bullish especially with the weekend coming up.
4. BOJ has likely placed a ceiling on UJ which is why it keeps banging it's head around the 150.80 mark.
Happy trading.
1. Today is the end of the month = capital inflows from pension funds, hedge funds, banks, prop trading houses.
2. Dogs pissing on the same post. One dog pisses on a post (BOJ), along comes another bigger dog and pisses all over the exact same spot (Europe). Then comes another even bigger dog who pisses all over the exact same post (the US traders, man do they hate anyone other than them driving the PA, they will often (but not always) take out weak stops first then go into reversal).
3. +ve swap rates on UJ bullish especially with the weekend coming up.
4. BOJ has likely placed a ceiling on UJ which is why it keeps banging it's head around the 150.80 mark.
Happy trading.
- #87,747
- Feb 29, 2024 1:37am Feb 29, 2024 1:37am
- Joined Jul 2011 | Status: Gold Again | 10,603 Posts
Japan talking the YEN stronger in case you wonder what's going on
Whether they act is another thing...
Whether they act is another thing...
It takes a lot for me to IGNORE you, but you can try.
- #87,751
- Feb 29, 2024 10:06am Feb 29, 2024 10:06am
- Joined Jul 2023 | Status: Aspiring trader | 1,132 Posts
{quote}Called it a day at 149.22.
glad you you get it though but the real show begins to new highs now 151 or 152
{quote} I pulled out the trade early and didn't take full profit
The big sell entry point will be above 151.40.
For now, need to be patient and trade safe.
- #87,758
- Mar 3, 2024 1:40pm Mar 3, 2024 1:40pm
- Joined Dec 2015 | Status: Trader | 8,767 Posts
USDJPY price action on the daily time frame has turned sideways as it tackles the 149.200/152.00 horizontal resistance zone (purple). However, the technical impulse favours bulls more than bears. And we may still see further northward move.
I may be wrong. Trade safe and prosper.
KP
I may be wrong. Trade safe and prosper.
KP
Do your homework, follow the footprints of smart money
- #87,759
- Mar 3, 2024 2:01pm Mar 3, 2024 2:01pm
- Joined Jul 2023 | Status: Aspiring trader | 1,132 Posts
nzdjpy very good trade upside to at least 93.500 good risk management and lot size you gonna make alot of money 
thank me later
thank me later