USD/JPY Discussion

i also had couple of bad long positions at 120.80 and 120.40 barely escaped with some profit. not a good day for bull obviously.

I reckon everyone who trades should. Mind comes before EVERYTHING else - IMHO.

yes, it very important, its like warming up before a game, gotta get into the zone.

Yeah, true. Good for your overall life/wellbeing too.

Short USDJPY @120.05 stop @ 120.91

My 2 cents on USD/JPY

According to EW i could count 5 waves until 120.20 as wave 1 then an abc to wave 2 until 121.00 . Now poised for a minimum FE 100 on fibo expansion until 119.33. Later a time consuming wave 4 ( if it stops at FE 100 else look for expansion target of FE 161.8) and a final 5th wave of the targets which will be posted once wave 4 is over. Here is the chart.

similar situation with eur/jpy ... 3rd wave target to 147.28

RIP

Regardless the market is bullish or bearish, the bulls and bears both can have money making opportunities. You need to have complete knowledge, be specific and precise with your approach. I chose to trade ej instead of uj which is actually similar in respect of timing, becos I don't want to be exposed to a weak ndx. Many green pips to you guys !
http://i.imgur.com/SNCVjOw.png

When the majority of the bulls give up or waiting for another 50 pips bottom, funnily that's when the market starts to turn up, strange isn't it?

***Yet another bear dip for long opportunity went unnoticed about the same level.

This PA is looking fairly weak right now. I don't see any conviction either way atm. Might stand aside till a little more clarity.

so bearish

oh fuck! why is it falling? are the bulls dead?

Sometime's simple logic is best? Turn your USDJPY chart to yearly and look at where we are...

Markets opened 20 minutes ago in Europe; it appears the current trend was extended.

Dow futures are down 60.

uj caused too much trouble today. enough of me. good luck everybody.

it should turn from here.i guess so

usdjpy could act like gbpusd did when it was on top...straight way down, watch out

Too bad i cleared my shorts, better wait for a new opportunity now