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USD/JPY Discussion

  • #38,501
  • Oct 25, 2013 5:56am Oct 25, 2013 5:56am
I don't have certain target rules just for harmonic patterns. In this case, I see previous swing high( from 96.55 to 99.00) as five waves up. So if these support level could hold, I am looking at least 99.40 area for the first target that is the same height of the first swing high from this level which also gives me a abcd pattern completion. But nothing is certain for now.. we need more bullish momentum here.. if dollar index at 79 could hold.. that could be a positive sign..
  • #38,502
  • Oct 25, 2013 6:22am Oct 25, 2013 6:22am
Quoting darkhorsefx
Seems bullish Gartley pattern was completed at this support zone with multiple confluences to back up it's momentum including 200dma. A massive RR ratio here to take... we will see...
pretty much
http://i.imgur.com/axjBN2o.png
  • #38,503
  • Oct 25, 2013 6:33am Oct 25, 2013 6:33am
Quoting darkhorsefx
I don't have certain target rules just for harmonic patterns. In this case, I see previous swing high( from 96.55 to 99.00) as five waves up. So if these support level could hold, I am looking at least 99.40 area for the first target that is the same height of the first swing high from this level which also gives me a abcd pattern completion. But nothing is certain for now.. we need more bullish momentum here.. if dollar index at 79 could hold.. that could be a positive sign..

Ok thank you
  • #38,504
  • Oct 25, 2013 6:35am Oct 25, 2013 6:35am
Quoting GqOrlando
{quote} pretty much {image}
Thank you! I have tp and closed my position and will wait for the news update.
  • #38,505
  • Oct 25, 2013 6:49am Oct 25, 2013 6:49am
....and also, there is a possibility that we just saw a fake-out. PA broke the lower support at ~97.20 and punched down through 97.10.
It is now back above 97.30 - so I expect it will move strongly up or down.
Don't forget it is Friday......
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #38,506
  • Oct 25, 2013 8:02am Oct 25, 2013 8:02am
Hello Usd/Jpy traders.

I came 3 days ago with some analysis suggesting to buy usd/jpy on dips. Well I bought it this morning at 97.00. I do not know if this is going to be the final dip for the next days but if usd/jpy will push another leg down I will add some more longs. This time I come with some more analysis to sustain my theory regarding the usd/jpy new rally. I have another triangle: this time is an ascending triangle on Nikkei. I am sure you know long Nikkei means also short yen. If someone is interested to see the full analysis and the charts you can visit my blog: http://www.forex-galaxy.com/2013/10/...on-usdjpy.html

Green pips to everyone !
Buy when everyone else is selling and sell when everyone else is buying !
  • #38,507
  • Oct 25, 2013 12:12pm Oct 25, 2013 12:12pm
Hi There, This particular triangle pattern has been obvious and highly cited/observed for some time (everyone is watching it), consequently I believe it may become an imperfect pattern. However, I see a strong confluence of MA's above which may serve as a target.

Here is my trade -
Long: 97.46
SL: 95.46 (200pip)
TP: 106.46 (600pip)
R/R: 3:1
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_LT Buy.png Size: 687 KB
  • #38,508
  • Oct 25, 2013 1:56pm Oct 25, 2013 1:56pm
Quoting Mr.C
Hey guys - hope you're doing well. Some JPY pending orders for this week: USD/JPY pending sell @ 98,17; SL @ 98,57. Also EUR/JPY pending sell @ 135,180 with SL @ 135,580. Trade safe and good luck!

Didn't get the price. Orders canceled. Wish all a wonderful and sunny weekend!
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #38,509
  • Oct 25, 2013 2:13pm Oct 25, 2013 2:13pm
Quoting virensfx
Hi There, This particular triangle pattern has been obvious and highly cited/observed for some time (everyone is watching it), consequently I believe it may become an imperfect pattern. However, I see a strong confluence of MA's above which may serve as a target. Here is my trade - Long: 97.46 SL: 95.46 (200pip) TP: 106.46 (600pip) R/R: 3:1{image}
The price you are looking at is almost where i'm looking... just that maybe i am seeing an early area of 104.45/105 will be considered as tp.... anyway nice chart of ma-1200....

Hopefully it's the way we sees....
Sincerely Yours Cheers!
  • #38,510
  • Oct 25, 2013 2:15pm Oct 25, 2013 2:15pm
Quoting virensfx
Hi There, This particular triangle pattern has been obvious and highly cited/observed for some time (everyone is watching it), consequently I believe it may become an imperfect pattern. However, I see a strong confluence of MA's above which may serve as a target. Here is my trade - Long: 97.46 SL: 95.46 (200pip) TP: 106.46 (600pip) R/R: 3:1{image}

Nice style
Stop going for the easy buck
  • #38,511
  • Oct 27, 2013 4:14am Oct 27, 2013 4:14am
Quoting fatpanda
TP hitted @ 77.00

Can you be a bit more clear? Are you saying that it had already hit the TP of 77 in the past or suggesting a new TP at 77?
  • #38,512
  • Oct 27, 2013 6:55am Oct 27, 2013 6:55am
https://media.dailyfx.com/illustrati..._Picture_5.png

Source: http://online.wsj.com/news/articles/...57210861675436

He (Japanīs Prime Minister Abe) said he expected the economy to be dragged down by the tax increase effect from April to June,

and the key would be how it recovers afterward. "I would like to watch carefully how much it can recover in July, August and September. And then I'll make an appropriate decision.
________________________________ Errare humanum est
  • #38,513
  • Oct 27, 2013 7:54am Oct 27, 2013 7:54am
Quoting stylinex
{quote} Can you be a bit more clear? Are you saying that it had already hit the TP of 77 in the past or suggesting a new TP at 77?
i interpreted that as a typo of 97... but that was my guess anyway.
  • #38,514
  • Oct 27, 2013 8:30am Oct 27, 2013 8:30am
Quoting MisterTrader
{image} Source: http://online.wsj.com/news/articles/...57210861675436 He (Japanīs Prime Minister Abe) said he expected the economy to be dragged down by the tax increase effect from April to June, and the key would be how it recovers afterward. \"I would like to watch carefully how much it can recover in July, August and September. And then I'll make an appropriate decision.

USD sentiment has stablised since the US re-open.....perhaps it will start the week with a gap up. Just me view.
  • #38,515
  • Oct 27, 2013 9:17am Oct 27, 2013 9:17am
Quoting pohchuan
{quote} USD sentiment has stablised since the US re-open.....perhaps it will start the week with a gap up. Just me view.
the chance is low although i wish the same. We have had very little gap up days (over 10 pips) over the past month. sadly.
  • #38,516
  • Oct 27, 2013 9:21am Oct 27, 2013 9:21am
Your TP gonna reach after 3, 4 months. I dont see it earlier

Quoting virensfx
Hi There, This particular triangle pattern has been obvious and highly cited/observed for some time (everyone is watching it), consequently I believe it may become an imperfect pattern. However, I see a strong confluence of MA's above which may serve as a target. Here is my trade - Long: 97.46 SL: 95.46 (200pip) TP: 106.46 (600pip) R/R: 3:1{image}
  • #38,517
  • Oct 27, 2013 9:43am Oct 27, 2013 9:43am
Quoting MisterTrader
{image} Source: http://online.wsj.com/news/articles/...57210861675436 He (Japanīs Prime Minister Abe) said he expected the economy to be dragged down by the tax increase effect from April to June, and the key would be how it recovers afterward. \"I would like to watch carefully how much it can recover in July, August and September. And then I'll make an appropriate decision.
So MisterTrader are these comments bearish or bullish for usd/jpy?
  • #38,518
  • Oct 27, 2013 2:26pm Oct 27, 2013 2:26pm
Gap up!
97.72 and still going
  • #38,519
  • Oct 27, 2013 2:48pm Oct 27, 2013 2:48pm
Quoting mm2mm
Gap up! 97.72 and still going
Cooooooool........bring on 98 I say
  • #38,520
  • Oct 27, 2013 3:38pm Oct 27, 2013 3:38pm
H4

Gartley - AB=CD
Entry= 97.62
Attached Image (click to enlarge)
Click to Enlarge Name: usd jpy h4 13.gif Size: 98 KB
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Blackflame