USD/JPY Discussion

USDJPY is showing a strong bullish move, all short term structures can be opportunities to get in.

“Now, 2 patterns of market behavior happen on a regular basis:
1) the price breaks to new high's (or low's)
2) the price reverses from new high's (or low's)
They happen regardless of time frame.
They are phenomena that can be exploited without the fear if found out by others, that they might cease to exist.” - H. Rearden


Price Action #advancedalientrading

1) Price will either breakout of the high, low or both of the previous bar
2) Price will not breakout of the previous bar.
3) Price will either close above a level (line) or not.

Looks like jpy/usd is making a move to previous intraweek highs before sweeps like 50 kagillion lows. Trade with stops.

I can't bring myself to trade this market long because of the risk of intervention.
I probably would short it at this time though

hi olu,i have been learning forex trading and i have seen some of your of your posts. I enjoy your market analysis and would like to learn from your experience.
Than
ks for sharing your insight

a pullback soon if bears hold it here

EURUSD testing 4h trendline trying to hold and bounce testing resistance 30m

US dollar bulls still trying to go >160 near teh 4h trendline test

Entered Sells. Aiming for a 1:2 to 1:3.

near short scalpers 4h trendline test a closer look with a 15m chart

On monthly timeframe, symmetrical triangle , will breakout and could be 175 at least.

SL hit and then reversed straight to tp.

Entered short. Aiming for a 1:2 to 1:3.

TP hit. Well, that was quick. Closed trade at 1:2.5. Make this thread active again!

USD/JPY is trading around the 159 level, and the pair keeps bouncing every time it dips toward the 159.50–159.40 area. If price manages to push above 160.00, we could see some extra bullish momentum, but that level is usually tricky because traders expect possible intervention. Momentum is still slightly bullish, so as long as we stay above the 159.40 support, the market looks like it wants to grind higher.

Inside day.