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USD/JPY Discussion

  • #62,961
  • Dec 2, 2016 9:14am Dec 2, 2016 9:14am
Only thing is the H4 Trendline support for this right now.
interesting is that the trendline intersects with the 61.8 fib on the daily chart for the last swing high to low

Attached Image (click to enlarge)
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  • #62,962
  • Dec 2, 2016 9:24am Dec 2, 2016 9:24am
Closed my short position @ 113.35
+70 pip
Up 110 pips for the week
Better luck next week
Off now
Have a nice weekend everyone.
  • #62,963
  • Dec 2, 2016 11:02am Dec 2, 2016 11:02am
Japan needs a weaker YEN. 13 months of dropping exports

Japanese Exports Fall for the 13th Straight Month - FORTUNE
https://apple.news/AX94YlbGtRI2frMR_QdW8OQ
  • #62,964
  • Dec 2, 2016 11:19am Dec 2, 2016 11:19am
Quoting stylinex
Japan needs a weaker YEN. 13 months of dropping exports Japanese Exports Fall for the 13th Straight Month - FORTUNE https://apple.news/AX94YlbGtRI2frMR_QdW8OQ
Is what started to happen from last month. Look at u/j , g/j or e/j monthly chart
  • #62,965
  • Dec 3, 2016 11:48am Dec 3, 2016 11:48am
Quoting Almo2312
UJ moves are very nasty lately.. very unpredictable momentum up stop and drop..,momentum down stop and goes up..
Unless next week the siria war goes south and Putin wakes up one day and decides the oil cut wont happen anymore, the sentiment of safety will continue even with trump around. aiming for the 120 again on this pair and eur to get close to parity in 6 months
  • #62,966
  • Dec 4, 2016 6:00pm Dec 4, 2016 6:00pm
Wow that's a quick gap close...a sign it's preparing to head north till Dec 15?
  • #62,967
  • Dec 4, 2016 7:57pm Dec 4, 2016 7:57pm
Usd/Jpy has recovered from the bearish gap after Italy's ''no'' referendum vote, the pair is back to around 113.80 level. I'm expecting short term consolidation between 113.80 to 114.84.
  • #62,968
  • Dec 4, 2016 8:07pm Dec 4, 2016 8:07pm
Quoting Windstrown
{quote} Unless next week the siria war goes south and Putin wakes up one day and decides the oil cut wont happen anymore, the sentiment of safety will continue even with trump around. aiming for the 120 again on this pair and eur to get close to parity in 6 months
Not 120 but 102
  • #62,969
  • Dec 4, 2016 8:09pm Dec 4, 2016 8:09pm
Quoting pohchuan
Wow that's a quick gap close...a sign it's preparing to head north till Dec 15?
Exactly what I had in my dream. A big Gap
  • #62,970
  • Dec 5, 2016 5:49am Dec 5, 2016 5:49am
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  • #62,971
  • Dec 6, 2016 10:10am Dec 6, 2016 10:10am
I tentatively opened a long position due to the inverted hammer bar on the daily time frame above the support at 113.00. However, the pair has also formed double top at 114.80 so whether it will break above that level is uncertain at the moment.
  • #62,972
  • Dec 6, 2016 10:53am Dec 6, 2016 10:53am
Still short biased. I'm sure it'll have a go at 114.31.Be interesting to see the PA there.
If it punches through, then 114.59 and 114.70.
If it kicks those two in the bollocks and heads north, I'm out
Where price is now, it has been before, and will be again.
  • #62,973
  • Dec 6, 2016 1:17pm Dec 6, 2016 1:17pm
Quoting Jenx
Still short biased. I'm sure it'll have a go at 114.31.Be interesting to see the PA there. If it punches through, then 114.59 and 114.70. If it kicks those two in the bollocks and heads north, I'm out
I would love to agree buh I still see 115** - 116** as a major resistance to risk a short
  • #62,974
  • Dec 6, 2016 4:06pm Dec 6, 2016 4:06pm
Looking at the big picture on the charts both USDJPY and GBPJPY, everything still points upwards for me (this is just my humble opinion). On USDJPY especially there is major trendline support that it has been respecting for weeks and I think there is still unfinished business at 115. It seems people are underestimating just how severely Trump's election is going to shake up the global fundamentals. We've been goin' up, up, up and an object in motion stays in motion until acted upon by an outside force. Standard corrections of the impulse moves aside, I don't think there is anything that fundamentally warrants a reversal or discontinuation of these upward moves. The trend is your friend.

P.S. I'm probably wrong, but that's my gut feeling
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  • #62,975
  • Dec 6, 2016 4:30pm Dec 6, 2016 4:30pm
FYI

http://www.graceland-updates.com/ima...16dec6usd1.png
  • #62,976
  • Dec 6, 2016 5:28pm Dec 6, 2016 5:28pm
One way or another, breakout should be happening soon. It's been consolidating for almost 20 hours, range getting smaller and smaller. I'll be waiting to jump in whether we're going up or down.
niemals aufgeben
  • #62,977
  • Dec 6, 2016 6:47pm Dec 6, 2016 6:47pm
Really nice candle starting to form on the 4 hr, we're starting to break out of the consolidation, fingers crossed we can smash through 114.7, if we do, you know there are big stops just above so be ready to rip!!!!
niemals aufgeben
  • #62,978
  • Dec 6, 2016 8:16pm Dec 6, 2016 8:16pm
Any pullback on USDJPY to 111 - 112 area sets up a solid buy for play to 118+. Looking to buy in that zone in the next 2 weeks
  • #62,979
  • Dec 6, 2016 8:33pm Dec 6, 2016 8:33pm
before to reach 118, we need to touch 112.00... all can happen bull trend is strong...
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  • #62,980
  • Dec 6, 2016 11:04pm Dec 6, 2016 11:04pm
Quoting Cenit
before to reach 118, we need to touch 112.00... all can happen bull trend is strong... {image}
yes, bull trend is strong, that's why any pullback is a strong buy. I see decent odds of a pullback to 111-112. There is also decent possibility that it will run to 118 without pulling back, but my risk/reward criteria does not allow me to chase it here at 114+
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