USD/JPY Discussion

I intend to short USDJPY if it retested the broken weekly uptrend or the 55 SMA for 103.3 target

I went short at 117.153 and in the first 30 min was in profit by 50 pips. Should have taken profit then, but oh well i am still keeping the trade open as long as it manages to stay below the resistance level of 117.953 in the hopes that it will retest the daily low.

....and I went to bed instead of going long below 117

There will come other great opportunities

Patience is the key
Besides, I've got an inkling this things got room down below.....

Same here, this is why i dont open big lots right now so that i dont have to use a sl to prevent my account from blowing up. Slow and steady wins the race, eventually it will come down.

not clear till now.... Down trend but....

117.950 seems to be the resistance for the second day. If it breaks then a clear signal to go long, if it does not, then my guess would be that it will go down after finishing the consolidation that it is right now doing

I'm staying away at the moment...

the action seems to be very slow.

We might see a trend reversal...

Why?

The daily candles keep closing higher, and there is no mayor resistance level at the current price action point in the daily chart.

Although currently tonight price is up and Monday closed higher, earlier today (Tuesday) closed down or maybe slightly higher depending on someone's daily bar closes. Not much positive movement IMO. Yet.

Well it broke the resistance.

The resistance has turned support. Imo this pair is moving almost exclusively on what the chinese are doing with the yuan. ???? What to do , risky. On long term I personally have a neg feel on china.

look at the EURUSD. He strengthened. I think that in the longer term, we can expect the growth rates of the dollar, that is, the trend up on USDJPY

heading 118,670

We are coming back down it seems. Broke the support.

Broke support ... and then some.

Closing on the lows.