USD/JPY Discussion

on it's way back up

still in no mans zone. not een a real move up til past 102.16 no real move down til past 101.41

Well it won't take a lot of effort to drop below 100.81. Just wondering will the 100 psychological barrier be stronger? Of course I won't want it to test those support, I am still long on it and holding a big loss

Cut and run.

this thing is going to explode up

Could go either way.

we are on the cusp, if this think stays the same its gonna big a big gap up or down on sunday

Well not sure

trying to go higher

hand brake on

Got longs just above

man hope the 100 holds

YUP

Lots of guessing without any analysis ... how about PA? What does it tell you?

In a nutshell what does PA tell me? It tells me that price is near a strong area of control which is 101.41. It has not broken back above another weekly point of control 102.16. This tells me another break of 101.41 will cause the price to fall more, at least down to 100.85 and possibly further. A break of 102.16 will lead to 102.97 and upwards. I have said this a few times already.

Since price is already at a point of interest, when the market opens it will most likely have moved away from this point thus the reason I forsee a big gap

I believe the 100.00 will be tested in the near future.If enough loser longs get stopped out the trend will likely reverse up there.

I dont realy think that you can make any analyse here with those candels in H4 and with the wave candel or doji in D1.Price at H4 is now in a break out box for me and in the next week in can poped up and break 102,00 and keep going up or price can try a couple of time to break 101,40 again like the previous time it tryed three times.I switced to W1 and i saw a bit bearlish candel that is bigger thaan the past 3 weeks almost.If you analyse this us a bearlish pattern them there is a chance to go down deeper.Even all those facts there i very stong resestanse are at 101,200 that price was walking around there 2 months.

Hi Guys Crispy here.

Unfortunately my reversal position was not supported by PA and I closed the long position at the 101.79 with a modest +23 pip profit. But I am sure we can get past that.

Now after reviewing the charts and focussing on some core fundamentals I find that the key resistance level at ~101.30 is still intact and that the odds are slightly in favour of the upwards movement giving long positions medium term advantage in the upcoming trading week even though number of trend tops as well as false breakout last week might indicate that the current channel may not be valid for longer.

That being said as we all know anything might happen so I am going to opt out of direct trade and instead placed two trade orders in both directions. One at 101.15 level and other at 101.80 level to capture the breakout from the flag that we see forming in the 1h chart.

To account for large variance in these positions I also opt to take a smaller sized trades until trend is confirmed and I feel that I can load up.







Have a great weekend everyone and good luck.

After a look after this weeks close hear are my thoughts.

NO trade zone is 101.39 to 101.77. This area is just chop.

Break of 101.39 leads to 100.90 and then on to 99.61. I don't believe Japan wants to see below 100 so I think 100.9 zone is around as low as it goes within a few pips here or there.

Break of 101.77 has a few hurdles. This goes to 102.16 but above this area is slight chop between 102.16 to 102.34. More pauses above this as well.

So at this point the easier way is down. If move is down it will be sharp and fast. If move is up it will range up in pieces. Unless some really big news I am not aware of comes out which will send the rocket ship. The way up with clear skies is after 104.37. Divergence on OBV which has not made a lower low on daily along with %R in oversold leads me to believe that the down move is losing steam. Monday may make things more clear.

Everything is possible, you saw how we finished today and this week.

Hi guys,

Happen new week, and market open!

My bias is still LONG for this pair, especially for the upcoming week.

Take a look at my MTF charts and notice how there is plenty of room for the 4H and Daily chart to move upwards.

Good trading everyone!

It looks now like U/J may test the 101.30 bottom, or double-bottom, or triple-bottom, depending on which TF you're looking at. But I won't make any trading decisions until it does so... For now, I would expect it to hold.

I also really feel like a headfake is coming, but who the hell knows

Here we go... the bulls are stepping up to the plate

Actually, no pun intended. I am from Chicago, and The Bulls are about to play in 15 minutes. Let's go Bulls!!!

Disclaimer: I am long.

I just had a revelation.

For some reason, I've only been trading 1 hour options. But my broker also offers 2 hour options. I guess I've only been trading 1 hour options because I always assumed that they'd be more profitable, but that is not the case... It's only more profitable if you have really awesome discipline to follow the system 100% perfectly, and I don't have that kind of discipline.

So I think maybe trading 2 hour options could make a HUGE difference in my trading! Because it's TWICE the amount of time!

I think from now on, I am only going to trade 2-hour options.