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USD/JPY Discussion

  • #60,841
  • Aug 8, 2016 2:12am Aug 8, 2016 2:12am
Quoting Vantage FX
USD/JPY shows a bounce out of support, but again, capped perfectly by the first point of resistance. Looking for an intra-day re-test to sell weakness? {image}
  • #60,842
  • Aug 8, 2016 2:12am Aug 8, 2016 2:12am
Quoting guernica
{quote} A head and shoulders in formation ?
I don`t think so yet, there isn't a clear support line for the formation. At least on my charts
The truth is hidden from you
  • #60,843
  • Aug 8, 2016 2:19am Aug 8, 2016 2:19am
i was not planning for this long but the stubbornness of week open coerced me to try a 15 pip risk

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  • #60,844
  • Aug 8, 2016 2:21am Aug 8, 2016 2:21am
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Yen can make local short movement. In global usdjpy has short balance, but now it in the bottom the big range and some big buyer can push the currency to the middle this range. My recommendation is playing in less time-frame.
  • #60,845
  • Aug 8, 2016 2:31am Aug 8, 2016 2:31am
daily chart, correct me if i got this wrong

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  • #60,846
  • Aug 8, 2016 2:47am Aug 8, 2016 2:47am
Quoting PatienceFx
daily chart, correct me if i got this wrong {image}
I saw a similar thing )
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  • #60,847
  • Aug 8, 2016 3:08am Aug 8, 2016 3:08am
what is the difference between

taking average of array or

imaonarray

won't they give same result ?
  • #60,848
  • Aug 8, 2016 3:10am Aug 8, 2016 3:10am
Um... if I am not mistaken guys. CNYJPY should have an affect on USDJPY.
In the morning today CNY received a high impact positive news (check it in the calendar ), I checked the daily CNYJPY chart (could find a reasonable one only at yahoo finance LOL) anyway. As it seems to me, we might be on to a beginning of the daily uptrend channel triggered by the level 15.0000.
Now if we have an uptrend an CNY/JPY than JPY/CNY must be in a down trend.
If we are trading on USD/JPY than we should have dollar stronger against jpy and beginning of an uptrend as seen on the technical analysis above
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  • #60,849
  • Aug 8, 2016 3:13am Aug 8, 2016 3:13am
Quoting MaxenshteinD
Um... if I am not mistaken guys. CNYJPY should have an affect on USDJPY. In the morning today CNY received a high impact positive news (check it in the calendar ), I checked the daily CNYJPY chart (could find a reasonable one only at yahoo finance LOL) anyway. As it seems to me, we might be on to a beginning of the daily uptrend channel triggered by the level 15.0000. Now if we have an uptrend an CNY/JPY than JPY/CNY must be in a down trend. If we are trading on USD/JPY than we should have dollar stronger against jpy and beginning of an uptrend...
Interesting find! The CNY is capped in a trading range against the dollar so it probably will benefit from it a lot. I already was really bullish for USD/JPY. But this can be a good trigger to open some longs.
  • #60,850
  • Aug 8, 2016 3:15am Aug 8, 2016 3:15am
Quoting taciho
{quote} Interesting find! The CNY is capped in a trading range against the dollar so it probably will benefit from it a lot. I already was really bullish for USD/JPY. But this can be a good trigger to open some longs.
Thanks)))))
P.s. Im kind off new to Forex factory, but I already love it. Especially the ability to easily share ideas about currency pairs with each other
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  • #60,851
  • Aug 8, 2016 3:47am Aug 8, 2016 3:47am
Strong Resistant @ 102.50. we can see daylight to 104, once it is broken. If not, then we are back to 101.60.
  • #60,852
  • Aug 8, 2016 6:06am Aug 8, 2016 6:06am
Quoting frx_trader
Strong Resistant @ 102.50. we can see daylight to 104, once it is broken. If not, then we are back to 101.60.
I think the resistance at 102.4x has held pretty well.
Next level to test is 101.73 IF this level fails to hold as support then we will see 100.95 or even lower.
  • #60,853
  • Aug 8, 2016 6:06am Aug 8, 2016 6:06am
Arguably there is resistance at 102.70 ~ 80
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #60,854
  • Aug 8, 2016 6:20am Aug 8, 2016 6:20am
Quoting Exodus
Arguably there is resistance at 102.70 ~ 80
True, but that resistance level will only be tested after price trades lower until 102.00
  • #60,855
  • Aug 8, 2016 6:41am Aug 8, 2016 6:41am
Quoting MaxenshteinD
{quote} I saw a similar thing ) {image} {image}
full marks to you, good trade plan

chances of 105.35 look pretty strong, boj has done its job, now it entirely depends on usd strength or weakness as the case may be
  • #60,856
  • Aug 8, 2016 6:45am Aug 8, 2016 6:45am
NY session reversal is usual on Mondays.

But then one has to watch out nearest level 102.50.
Intraday only.
  • #60,857
  • Aug 8, 2016 8:46am Aug 8, 2016 8:46am
first barrier 102.70 if cleared it can go to 108.79, lets see how it goes

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  • #60,858
  • Aug 8, 2016 9:03am Aug 8, 2016 9:03am
Quoting pipcenturion
{quote} True, but that resistance level will only be tested after price trades lower until 102.00
First rule of comment on currency movement; always be vague, never use absolutes.
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Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #60,859
  • Aug 8, 2016 9:18am Aug 8, 2016 9:18am
Quoting Exodus
{quote} First rule of comment on currency movement; always be vague, never use absolutes. {image}
Noted!
  • #60,860
  • Aug 8, 2016 9:37am Aug 8, 2016 9:37am
is usdjpy ready to fill the opening gap now means moving downward?
TALHA607
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