USD/JPY is once again bumping up against the 145 level.
Will there be another intervention?
This chart shows the success rates of Japanese currency interventions:
This chart reminds me very much of jan 2015.
Back then a trader posted that the only way to trade is with the CB at your back - then again what happens when/if the CB withdraws - who then has your back?
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USDJPY
Looking for a Friday sell retracement of the weekly move.
As you can see we broke right back up to the top of last weeks range and have held at this top range, setting up for a Friday move with a pump back up to the previous highs taking out the range and liquidity from there i will be looking for a 30%-50% retracement of the range and targeting below the relative equal lows.
Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading.
Thoughts on the markets at the moment?
Usd jpy and usd chf are a sell today
Ill be watching DXY to see how it reacts and place my trade accordingly
Looks very bullish to me as far as the H4 chart is concerned. The pair is moving towards the North slowly. A breakout at the up trending trendline may make the pair be bearish for a while. However, the buyers may wait for the price to produce a bullish reversal pattern at the value areas to go long again.
Not quite 2015 but reasonable chance that retail traders on the buy side will have had their stop loss gapped - 540 pip drop in 2 hours - thatâs the effect that a CB has on price.
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I wasnt trading in 2015 that would be immense gap. Really wards me off trading anything mid to long term for sure. Small short trades for the time being
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USDJPY Start of the fall?
Last Friday we seen UJ make a massive break to the down side. reacting off the 150 level. since then we had a small retracement and a continuation down. I will be looking for this pair to pull back up above the 50% of the fib and of the entire downward candle. for there we will be in premium looking for sell opportunities.
I have marked out my ideal set up covering the higher range of the move but once we pull up above the 50% mark i will be watching price to see how it reacts in the markets.
Keep a close eye on market structure and remember key entry and price action will be needed.
Make sure you use proper risk management when trading.
Do you thing this is the start of the fall for this pair?
I donât think this is the end of the bull run for USDJPY - itâs looking like itâs just a pullback to grab some liquidity and continue up. Wouldnât be surprised if next week we see a continuation higher to take out the weekly high formed last week.
Doesnât`t look like the start of the fall for this pair.
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The daily chart shows that the pair produced a bullish candle right at an up trending trend line. The pair may make another bullish move from here.
Can definitely see itâs still got some power in it. Big rejection with a few candles ago
Still hunting the USDJPY fall.
Last week I posted about waiting this pair to break back up above 50% of the big bearish candle. We are nearing that area now and losing momentum.
I will be looking for a Friday set up with this pair as we have NFP coming in to play.
Marked out where my sell set up is. you will see only a wicked area of price, will be looking for a reaction up in to here tomorrow and then a downward drive from the news.
Make sure you use proper risk management when trading.
Do you thing this is the start of the fall for this pair
USD still pulling the strings on this pair. Very hard to gauge
Jena has been frankly happy lately. I think the future will be even better.
USDJPY sell set ups
This pair has been giving opportunities over the last 2 weeks 2 of the sell opportunities i have managed to catch and looking at getting a 3rd position to finish the sell cycle. Taking out the relative equal lows.
For here we could be rebalancing higher timeframe bias and see where the market wants to move next.
Always keep a close eye on market structure and remember key entry and price action will be needed.
How have you got on with this pair over the last weeks
The pair made a strong bearish move in the H4 chart. It consolidated and then produced a bearish reversal candle at a flipped level of resistance. The sellers may drive the price towards the South further.
Closed the week bearish - I had a feeling that USD would continue to pump this week, however doesnât look the case! Iâd imagine we will pullback early in the week and then continue lower.
Maybe this is the end for the USD!
USDJPY
After last weeks fall i managed to close out strong for the end of the week, looking at the current range now i am still looking for bearish movements on this pair but feel we need to pull up and fill in some of the rage, as you can see we have taken the low to the left and held on the daily candle.
Now i will be wanting to see a short term retracement back above 50% of the wicked range before we continue to push down again.
What are you current thoughts on UJ at the moment are you bullish or bearish on this pair?
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