USD/JPY Discussion

Target hit, R:R 5.97

Overbought

My buying setup( between fib 0.50 - 0.618)

As of most of you I agree that UJ will continue its uptrent. Looks like it can run for another 100-200 pips. I have a Huge buy on it. 2.5 lot size baby.

There is liquidity below current level, so planning sell

Sorry friend but this is the lowest price is going to get. Theirs liquidity around the 155.740 mark
155.918 is my entry

My sell was 156.015
-> loss

Hi all! I'm running live trades, currently up ~15 pips on USDJPY (LONG). I was unsure of the trajectory of the pair, because of the amount of consolidation below Tuesday's high of the day (156.271-ish).
I hope my screenshot in this post helps you! Asia saw a correction in price, and then the London session developed into an evenly balanced distribution curve. Due to the current trend over the last week, I initially anticipated a short-lived correction, but Asia's low remains largely untested. Instead, the US session produced a swift, 15-pip stop hunt low outside London's session, and took the opportunity to go long after the exchange rate returned to the fair value area found in the London Session. I'm looking forward to a continued rally into the Asia Session Friday, and intend to hold until ADR-high is reached, 157.125 zone.

If I'm correct, the distribution curve should produce a b-shaped distribution curve, as price continues to rally. However, USDJPY sometimes slows over the US-Asia changeover, and takes off during the Asia session, so we'll see what happens!

Target hit

Inside day.

Same here

The USDJPY price action on the daily time frame turned sideways at the 156.020 area. Technically, the price action is in a bullish mode within the 153.940/157.750 horizontal channel (purple) of consolidation. We may still see further bullish price action within the channel.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

My plan is sell, if 156.800 resistance level holds.

Interesting ?