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USD/JPY Discussion

  • #59,621
  • Mar 21, 2016 2:40pm Mar 21, 2016 2:40pm
Next immediate resistance level can be found at 112.10 handle, the pair's risk seems remain upside.
  • #59,622
  • Mar 21, 2016 7:26pm Mar 21, 2016 7:26pm
Looking at the super strong bearish divergence with CCI and Stochs, the present trend on the daily etc, I think it's very likely for the price to start dropping seriously soon!!
  • #59,623
  • Mar 21, 2016 7:34pm Mar 21, 2016 7:34pm
PO Short @ 112.64, SL: few pips above 112.95 with a TP at 111.460.

I see the pair could go down to 108.500 over the next few weeks.
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  • #59,624
  • Mar 21, 2016 7:59pm Mar 21, 2016 7:59pm
Believe some more to go in current correction. A day or so. Before it breaks lower.
  • #59,625
  • Mar 22, 2016 11:01am Mar 22, 2016 11:01am
112.40, where it is now could be the top for this leg. Entered short from there and watching for the level to hold, otherwise closing out and waiting for a clear rejection of the 200hma at 112.62ish before re-entering short. Also believe there's more downside to go for this pair.
  • #59,626
  • Mar 22, 2016 11:26am Mar 22, 2016 11:26am
Quoting ell3
112.40, where it is now could be the top for this leg. Entered short from there and watching for the level to hold, otherwise closing out and waiting for a clear rejection of the 200hma at 112.62ish before re-entering short. Also believe there's more downside to go for this pair.
There's definitely potential to go higher, but I think its limited and I dig your entry at these levels. Here's the chart I'm looking at:

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  • #59,627
  • Mar 22, 2016 8:12pm Mar 22, 2016 8:12pm
Love the confluence in our independent analyses.
  • #59,628
  • Mar 22, 2016 9:24pm Mar 22, 2016 9:24pm
Short here for a decent range.
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  • #59,629
  • Mar 22, 2016 9:51pm Mar 22, 2016 9:51pm
Quoting skyhok
Short here for a decent range. {image}


Ah yes, that's the chart in using too. The current trend. If it breaks the topside of this trend then I'll be looking at the trend line on @geppy's chart. It's been popping back up again during this Asian session presumably in reaction to Kuroda's comments but otherwise still relatively contained. Perhaps the European session will provide more direction.
  • #59,630
  • Mar 22, 2016 10:43pm Mar 22, 2016 10:43pm
Quoting ell3
{quote} Ah yes, that's the chart in using too. The current trend. If it breaks the topside of this trend then I'll be looking at the trend line on @geppy's chart. It's been popping back up again during this Asian session presumably in reaction to Kuroda's comments but otherwise still relatively contained. Perhaps the European session will provide more direction.
Not in trend, but trading the range.
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  • #59,631
  • Mar 23, 2016 2:01am Mar 23, 2016 2:01am
Quoting Denden2012
Love the confluence in our independent analyses.
That is called confirmation bias.

Look for people who don't agree and question ... could they be right this time? Maybe most times they aren't. But it always good to question what you believe.
  • #59,632
  • Mar 23, 2016 2:44am Mar 23, 2016 2:44am
I'm looking at the bullish weekly bar from five weeks ago with the highest volume on the chart. Still no substantial move to the upside looking at the big picture. It looks like to me they want to take it higher. I've been long from last week, scaled in through both of the moves down. I believe the break through just below the swing low last week was a stop loss hunt. We'll see,
  • #59,633
  • Mar 23, 2016 3:48am Mar 23, 2016 3:48am
Looking for price to rally higher till its resistance level before it starts to moves lower. Nothing much to trade in the middle of such a tight trading range.
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  • #59,634
  • Mar 23, 2016 5:21am Mar 23, 2016 5:21am
ok the short trade from 112.45 didn't work out, closed it with a loss..this fella looks like it wants to go higher still but yet seems to be struggling. No idea where it's headed to, frankly. I got burnt in my last 3 consecutive attempts at trading the jpy cos of unexpected sharp moves, don't think I'd wanna go long at these levels either. What do you guys think?
  • #59,635
  • Mar 23, 2016 5:38am Mar 23, 2016 5:38am
I had 112.73 as a point to watch for a reversal back down. Currently price is about 10 pips above. I still think MM has moved price up here to short. Who is buying right at resistance? Either poor traders or the big boys have decided to time to make this pop up.

I think its the poor traders getting trapped long right now. I guess we will find out after 10am eastern.
  • #59,636
  • Mar 23, 2016 5:47am Mar 23, 2016 5:47am
There are probably a boatload of stops below 112.14. could get pretty ugly
  • #59,637
  • Mar 23, 2016 6:02am Mar 23, 2016 6:02am
I think the next stop is 113.5, if it breaks into the 115 range I believe it could be a big move back up. And I wouldn't be surprised looking at that big volume weekly bar from a few weeks ago.
I wouldn't buy at the top or sell at the bottom, those who do are likely to get shaken out. I'll take some profit and let the half run risk free in case there's more upside ahead.
  • #59,638
  • Mar 23, 2016 6:08am Mar 23, 2016 6:08am
If it does pop to the upside I can see 113.36 area
  • #59,639
  • Mar 23, 2016 6:53am Mar 23, 2016 6:53am
Quoting Trendzalore
I had 112.73 as a point to watch for a reversal back down. Currently price is about 10 pips above. I still think MM has moved price up here to short. Who is buying right at resistance? Either poor traders or the big boys have decided to time to make this pop up. I think its the poor traders getting trapped long right now. I guess we will find out after 10am eastern.
Looks like longs could be trapped if it stays below 112.75 now. Stops at 112.58 and below could get taken out. Some support around 112.47 though. If that doesnt hold then could be a decent drop. Unless news at 10am eastern changes the mood.
  • #59,640
  • Mar 23, 2016 6:55am Mar 23, 2016 6:55am
Stopped out earlier and revised. Now set for shorts on a good size range - 5th leg of an ending diagonal c.
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