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USD/JPY Discussion

  • #64,101
  • Feb 13, 2017 2:51pm Feb 13, 2017 2:51pm
Got stopped out my short here. Waiting for tomorrow to decide position here.
  • #64,102
  • Feb 13, 2017 3:34pm Feb 13, 2017 3:34pm
Quoting Luzbay
Looking to get in long at 113.50. Targeting 115.375. Waiting on set up confirmation to enter the market.
Entry @ 113.684
SL @ 113.374
TP @ 115.300

R:R @ 1:5.2
  • #64,103
  • Feb 13, 2017 6:03pm Feb 13, 2017 6:03pm
Quoting PriceProphet
Broken out of down channel. But 114 providing resistance. might be best to play it cautious with this breakout as it may be a trap. USDJPY Channel breakout.png;2185599 {image}
I definitely think price will go down, at least short-term, towards that lower channel line. It's just a matter of time.
Amor Fati--F. Nietzsche
  • #64,104
  • Feb 13, 2017 10:16pm Feb 13, 2017 10:16pm
Quoting doji
{quote} I definitely think price will go down, at least short-term, towards that lower channel line. It's just a matter of time.
yes it looks like it can go down to 112.5 if monday low breaks

pretty good supports on h4 down below to choose exits
Attached Image
  • #64,105
  • Feb 14, 2017 12:14am Feb 14, 2017 12:14am
I too like that 112.50 level, for chance to get long that is...but it sticks out like a sore thumb right now...I'd maybe take a shot at it if we got to it in this fashion however...
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 57 KB
Look Sharp/Trade Tight
  • #64,106
  • Feb 14, 2017 12:25am Feb 14, 2017 12:25am
Quoting PatienceFx
{quote} yes it looks like it can go down to 112.5 if monday low breaks pretty good supports on h4 down below to choose exits {image}
changed my exit to 112.36

last week uj struggled at this level so it should be an excellent exit
Attached Image
  • #64,107
  • Feb 14, 2017 11:57am Feb 14, 2017 11:57am
Closed longs @114.5
Expect retrace to the 112.8 to reopen. Target 115.3
Probably will take a little short.
Forcemeat can not be unrolled back...
  • #64,108
  • Feb 14, 2017 12:30pm Feb 14, 2017 12:30pm
I would like to believe in the technical analysis ;-)
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy14022017.JPG Size: 214 KB
  • #64,109
  • Feb 14, 2017 1:35pm Feb 14, 2017 1:35pm
What I call a modified or "irregular" Wolfe wave. Pretty simple trade looking for some short pips. Decent symmetry, had to pull the trigger here.
Attached Image (click to enlarge)
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Pride always comes before destruction.... -Proverbs 16:18
  • #64,110
  • Feb 14, 2017 3:56pm Feb 14, 2017 3:56pm
Had longs at 113.6 from Monday, quite happy to see it move up to 114.5, I was hoping for 114.49 which is the start of S/R area on my chart. I saw it bounced off the previous downtrend upper channel line last night as well (last night AUD time), which made me confident to keep this into the FOMC stuff.

Not sure what is immediately next, however would anyone agree with me that's there's a bullish bias on daily, 4h now?
  • #64,111
  • Feb 14, 2017 4:05pm Feb 14, 2017 4:05pm
Quoting Starcraftmaz
Had longs at 113.6 from Monday, quite happy to see it move up to 114.5, I was hoping for 114.49 which is the start of S/R area on my chart. I saw it bounced off the previous downtrend upper channel line last night as well (last night AUD time), which made me confident to keep this into the FOMC stuff. Not sure what is immediately next, however would anyone agree with me that's there's a bullish bias on daily, 4h now?
Unsure, could drop down some, maybe to around 113.7 - 113.8, then start up again during Asia session. Could just start rising from this 114.25 area also without moving down at all. I am hoping it drops down so I can load up more. Tomorrow's US data is critical. If the numbers come in as expected or better, I expect it to rise tomorrow and hit 115 or possibly continue higher to 115.5 or 116 by the end of the week. The chart is telling me it's going to continue up in the next week to two weeks, as long as the US data continues to meet or exceed expectations.

Gold, Bonds, and the other majors are all poised to favor a stronger dollar, all depends on the data for the most part.

Asians may try to push down early to blow through USD bull stops so they can load up for the up move at a better price imo.
  • #64,112
  • Feb 14, 2017 4:10pm Feb 14, 2017 4:10pm
Still holding my long at 112.8
You came here for the truth and let me unveil it for you
  • #64,113
  • Feb 14, 2017 5:27pm Feb 14, 2017 5:27pm
Quoting teddybomber
{quote} Unsure, could drop down some, maybe to around 113.7 - 113.8, then start up again during Asia session. Could just start rising from this 114.25 area also without moving down at all. I am hoping it drops down so I can load up more. Tomorrow's US data is critical. If the numbers come in as expected or better, I expect it to rise tomorrow and hit 115 or possibly continue higher to 115.5 or 116 by the end of the week. The chart is telling me it's going to continue up in the next week to two weeks, as long as the US data continues to meet or exceed...
I'm thinking the same.
As long as the US data is in line and Trump keeps his mouth shut, 115 should be an easy hit.
Let's see if it can stay above 114.2 in the Asian session.
  • #64,114
  • Feb 14, 2017 5:52pm Feb 14, 2017 5:52pm
I'll give up my bearish stance if price exceeds the 1/27 high. Else, I'm staying put...
Amor Fati--F. Nietzsche
  • #64,115
  • Feb 14, 2017 9:14pm Feb 14, 2017 9:14pm
Quoting doji
I'll give up my bearish stance if price exceeds the 1/27 high. Else, I'm staying put...
i wonder, will you lose any thing if you just mentioned the F price at 27 /1(115.37)?!!!!!!
  • #64,116
  • Feb 15, 2017 1:21am Feb 15, 2017 1:21am
where the next resistance at ? 114.76 perhaps, not seeing much that's near by anyway...I cant read the PA up there, too messy..not worth trying, better to wait for something cleaner....
Look Sharp/Trade Tight
  • #64,117
  • Feb 15, 2017 2:13am Feb 15, 2017 2:13am
Nice sell zone with a target below
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYMonthly1.png Size: 30 KB
Come with me if you want to live....
  • #64,118
  • Feb 15, 2017 2:15am Feb 15, 2017 2:15am
looks to me like 113.85ish is good for a scalp.....
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 54 KB
Look Sharp/Trade Tight
  • #64,119
  • Feb 15, 2017 2:24am Feb 15, 2017 2:24am
Quoting PayTheLimit
where the next resistance at ? 114.76 perhaps, not seeing much that's near by anyway...I cant read the PA up there, too messy..not worth trying, better to wait for something cleaner....
Perhaps NY session will paint a clearer direction. My guess is that it will try to test 115.
  • #64,120
  • Feb 15, 2017 2:25am Feb 15, 2017 2:25am
see how she rolls up to resistance area



Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 31 KB
Come with me if you want to live....
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