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USD/JPY Discussion

  • #58,801
  • Dec 14, 2015 10:18am Dec 14, 2015 10:18am
Bought at 120.46, I reckon its time for the uptrend on the daily to resume
  • #58,802
  • Dec 14, 2015 1:01pm Dec 14, 2015 1:01pm
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_H1.gif Size: 175 KB
  • #58,803
  • Edited 7:39pm Dec 14, 2015 1:46pm | Edited 7:39pm
Very suspicious price movement for many yen pairs. USD/JPY barely had anything but green candles in its steady climb to 121 following a bizarre rejection of 123.40/30 within hours of a non-news day, and it was an immediate reaction to a small spike.....very unusual, even for December - we still have 2 weeks before the year ends, and this isn't the norm.

Normally, a slow and steady climb is indicative of a market maker intervention, and this may be it. Nothing conclusive, but enough to warrant attention. But it also seems like awkward timing and pace, so I'm leaning towards shorting for now.

Currently shorting xxx/jpy positions. Something smells fishy.

Update: Moved SL down. It's been 5 hours, and we still haven't moved. I'm reducing risk, and closed half my position at break even.
  • #58,804
  • Dec 14, 2015 2:16pm Dec 14, 2015 2:16pm
  • #58,805
  • Dec 14, 2015 7:14pm Dec 14, 2015 7:14pm
Quoting sam69
{quote} next stop 120.61... {image}

...done...what next?
Attached Image (click to enlarge)
Click to Enlarge Name: uj.png Size: 23 KB
Money is made by sitting, not trading. Jesse L. Livermore
  • #58,806
  • Dec 14, 2015 9:43pm Dec 14, 2015 9:43pm
Heading for 120.200
  • #58,807
  • Edited 12:43am Dec 15, 2015 12:20am | Edited 12:43am
Setup bought the dip on 5min., SL @120.44
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM5 15Dec15.png Size: 41 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #58,808
  • Dec 15, 2015 1:21am Dec 15, 2015 1:21am
UsdJpy ====> SellStop = 120570 / TP = 120180 / SL = 121188
if this order trigger ; open 2* lot BuyStop = 121188 / TP = 121501 / SL = 120570
GL
do not stand out in the open with gun ;stand in the bushes with knife..
  • #58,809
  • Dec 15, 2015 1:41am Dec 15, 2015 1:41am
before Fed
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_H1.gif Size: 190 KB
  • #58,810
  • Dec 15, 2015 7:15am Dec 15, 2015 7:15am
Quoting ktoTam
got few longs lets see how it goes {image}
going well for now
sl @ BE
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Time is your friend; impulse is your enemy.
  • #58,811
  • Dec 15, 2015 7:49am Dec 15, 2015 7:49am
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Click to Enlarge Name: USDJPY_H1.gif Size: 197 KB
  • #58,812
  • Dec 15, 2015 7:57am Dec 15, 2015 7:57am
Back to 125 again soon I reckon.
  • #58,813
  • Dec 15, 2015 10:14am Dec 15, 2015 10:14am
Small retracement back down to 121.1 then further up I reckon. Gonna close my trades/ bring SL to breakeven before the news tomorrow though
  • #58,814
  • Dec 15, 2015 4:02pm Dec 15, 2015 4:02pm
Quoting ktoTam
{quote} going well for now sl @ BE {image}
Elliott Wave for optimum entry, exit and risk management of trades
  • #58,815
  • Dec 15, 2015 4:05pm Dec 15, 2015 4:05pm
Near term upside potential:
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM30 16Dec15.png Size: 40 KB
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  • #58,816
  • Dec 15, 2015 10:37pm Dec 15, 2015 10:37pm
IMHO, USDJPY might extend its trend-line break acceleration towards testing 122.25-30 horizontal resistance prior to aiming the 120.50 re-test.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1_16122015.png Size: 29 KB
  • #58,817
  • Dec 15, 2015 11:11pm Dec 15, 2015 11:11pm
Quoting Fx_Anil
IMHO, USDJPY might extend its trend-line break acceleration towards testing 122.25-30 horizontal resistance prior to aiming the 120.50 re-test. {image}
clean and clear Fx_Anil, i think it has potential for further downwards (from around 121.66), chart posted #58806
Money is made by sitting, not trading. Jesse L. Livermore
  • #58,818
  • Dec 16, 2015 12:55am Dec 16, 2015 12:55am
Quoting sam69
{quote} clean and clear Fx_Anil, i think it has potential for further downwards (from around 121.66), chart posted #58806
Good
  • #58,819
  • Dec 16, 2015 6:10am Dec 16, 2015 6:10am
Quoting Fx_Anil
{quote} Good
how about maybe even 120.66......

Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 98 KB
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  • #58,820
  • Dec 16, 2015 7:33am Dec 16, 2015 7:33am
Considering all alternatives, the following wave count of an incomplete expanding diagonal is still viable. Therefore propose target for present advance towards 122.70.
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Click to Enlarge Name: USDJPY 16Dec15c.png Size: 59 KB
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