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USD/JPY Discussion

  • #64,701
  • Mar 21, 2017 9:28pm Mar 21, 2017 9:28pm
Can be nasty fall 110.
  • #64,702
  • Mar 21, 2017 10:00pm Mar 21, 2017 10:00pm
Quoting frx_trader
Can be nasty fall 110.
or h4 can play dead cat till usd news in evening
  • #64,703
  • Mar 21, 2017 10:18pm Mar 21, 2017 10:18pm
Quoting danc
{quote} good tip.. have taken a few longs ..udjy
Me too. almost got my SL, i put is behind SMA 21. (111.30)
  • #64,704
  • Mar 21, 2017 10:41pm Mar 21, 2017 10:41pm
Missile test failure can be good news. But Brexit, Frexit, and Trump are still in play. Not yet to go long. Especially with 114-115 as strong resistant. Can try to go long for 112.60 weekly fibo 50% on my chart and also is yesterday pivot. SL 111.30 I agree.

First test on long is 112.10
  • #64,705
  • Mar 22, 2017 12:26am Mar 22, 2017 12:26am
booked my shorts for now, will reconsider higher h1 in focus
  • #64,706
  • Mar 22, 2017 1:35am Mar 22, 2017 1:35am
Wow. Whats a joker from the sleeve!
Taking long.
Forcemeat can not be unrolled back...
  • #64,707
  • Mar 22, 2017 3:46am Mar 22, 2017 3:46am
When it hit 110. It will be a complete different range of 108 - 111. Ugh.
  • #64,708
  • Mar 22, 2017 3:50am Mar 22, 2017 3:50am
Lets look at where the swing target sits..

Here is a chart I posted here sometime ago when the uptrend into year end collapsed - the target is highlighted by the clear black arrow pointing to the blue line.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 39 KB
  • #64,709
  • Mar 22, 2017 3:52am Mar 22, 2017 3:52am
A few weeks ago I advised that the GAP needed to fill and the downtrend would resume...(of course one poster ridiculed me for it)...

Please observe what happened after the GAP was filled..
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1ii.png Size: 81 KB
  • #64,710
  • Mar 22, 2017 3:54am Mar 22, 2017 3:54am
Of course price rarely moves in a straight line to target zones as liquidity is needed - thus pullbacks and swings occur en route.

There will be intraday moves within shorter timeframes but a famous trader once wrote...Ignore the bigger swing at your peril.
  • #64,711
  • Mar 22, 2017 4:00am Mar 22, 2017 4:00am
Should proved good USD buying oppurtunity vs the YEN
  • #64,712
  • Mar 22, 2017 4:23am Mar 22, 2017 4:23am
Quoting RondaRousey
{quote} still holding short +180 pips atm
still holding short +300 pips atm
You came here for the truth and let me unveil it for you
  • #64,713
  • Mar 22, 2017 4:34am Mar 22, 2017 4:34am
There is a support at 111.20 (38% monthly fibo and 112% weekly fibo). I don't think it can hold. But let's see.
  • #64,714
  • Mar 22, 2017 4:41am Mar 22, 2017 4:41am
Attached Image (click to enlarge)
Click to Enlarge Name: MetaTrader - ActivTrades2.png Size: 85 KB
  • #64,715
  • Mar 22, 2017 4:43am Mar 22, 2017 4:43am
below yellow trend line i surrender to look for buy in this area
  • #64,716
  • Mar 22, 2017 7:20am Mar 22, 2017 7:20am
Quoting rainbow_1
below yellow trend line i surrender to look for buy in this area

Did you buy rainbow
  • #64,717
  • Mar 22, 2017 8:16am Mar 22, 2017 8:16am
Quoting Spec_And
{quote} I don't think rate hikes are going to move the dollar higher, not in the long run anyway. Historically the dollar index has always fallen during a rate hike cycle. Of course it may be different this time, nothing is ever 100% certain in FX.
Looks like its no different this time, history repeats itself.
"Where you want to be is always in control, never wishing, always trading.
  • #64,718
  • Mar 22, 2017 8:45am Mar 22, 2017 8:45am
USD/JPY longs are playing with fire right now. Until I see S&P500 climbing back above 2372, I'm not even thinking of going long.
USD/JPY is one of the most risk oriented pairs on the market, so going long in risk aversive markets environment is not my cup of tea.
I have shorted AUDUSD as it is also a very risk sensitive pair (carry trade) facing strong technical resistance so both technicals and fundamentals align.
  • #64,719
  • Mar 22, 2017 8:59am Mar 22, 2017 8:59am
Quoting rainbow_1
below yellow trend line i surrender to look for buy in this area
I still long on those area
Risk comes from not knowing what you're doing.
  • #64,720
  • Mar 22, 2017 9:25am Mar 22, 2017 9:25am
Quoting Spec_And
{quote} Looks like its no different this time, history repeats itself.
Beg to differ.

A 25 bps increase in 2015, 25 bps increase in 2016, 25 bps increase so far in 2017 or a whopping 75 bps over almost 3 years ... is not history repeating itself.

But I do agree much further down we go. I see UJ currently in EW wave c of Wave 4 with possible resumption of uptrend in 2-3 weeks.
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