Thread: Discuss USD/JPY, GBP/JPY, and other JPY Pairs

Hi People

Im no Elliotician, thats for sure. Here is a Line Graph showing the Contracting triangle that seems to be frustrating us all.

Im thinking of shorting this once again, pending on how the market opens sunday. I would like to short @ around the 148.20 price and Target the 50% retracement from the hi of October to the low of November which I have @ 146.40, which I know Abhishek sees as strong support.

If Wan, Abi, Cool, Brad, Sean, 4xer and just about anyone else who wants to add an opinion to my count, please go for it.

Talking of COOL_FX, where are you mate - miss your opinions and banter.

Funny, but I was just pondering whether she would break her water on Monday or not, as well. Since with this pair we get vol in all three global sessions, there is a good chance for money in both directions, I reckon, mate!

Originally Posted by hpdeskjet

Funny, but I was just pondering whether she would break her water on Monday or not, as well. Since with this pair we get vol in all three global sessions, there is a good chance for money in both directions, I reckon, mate!

This consolidation period cant last forever - at some point its going to break out. There is a complete lack of volume these past weeks, something in the fundies is going to have to change this. A real headliner, is whats needed be it good or bad!
Price at the moment isnt enticing me to go long or short.

Good luck mate.

Lots happening in the calender this week for GBP which will hopefully decide direction.

USD/JPY remains in a long term bear trend and must come under 79.80 in the years ahead to complete long term wave 5 of an elliott wave sequence, however I see the possibility that price may rally back towards the 100.00 area over the year ahead before falling off a cliff...

Originally Posted by skydiver

This consolidation period cant last forever - at some point its going to break out. There is a complete lack of volume these past weeks, something in the fundies is going to have to change this. A real headliner, is whats needed be it good or bad!
Price at the moment isnt enticing me to go long or short.

Good luck mate.

Lots happening in the calender this week for GBP which will hopefully decide direction.

Agree that right now is not the time to do anything, especially if you are medium term positional trader. Just a suggestion, but start watching it from 00.00 ET just before London opens. Should be worth something on intraday. I suspect it is going to pull back upwards, but the Asian session may be indeterminate.
Chiz, mate

hey folks,

long time no see. lol finally came back to chicago after an awesome vacation. my gf purposely took out my laptop in the last minute and i didnt realize i came to vacation without my laptop. lol so no trading. but i guess it was very good. no tension and relaxing time. ha ha

I went short now at 148 area. too quick i guess but i was out of trading for more than week so cudnt resist the urge.

Stop is at 150 above.

target is 146s/145s/143s

Market closed down very bad. so we can see downtrend from asia open.

Originally Posted by hpdeskjet

Agree that right now is not the time to do anything, especially if you are medium term positional trader. Just a suggestion, but start watching it from 00.00 ET just before London opens. Should be worth something on intraday. I suspect it is going to pull back upwards, but the Asian session may be indeterminate.
Chiz, mate

Im in SHORT from 148.15. Im treating as an Intraday and will be happy to close at 147.20. If yo look @ the hourly candles you can see quite a tidy price channel. Stop 148.75.

Welcome back COOL. Youve only missed headaches this past week. I thought you were in search of King Solomons Mines, knowing your love for Gold, forgot you were on vacation.

Originally Posted by skydiver

Im in SHORT from 148.15. Im treating as an Intraday and will be happy to close at 147.20. If yo look @ the hourly candles you can see quite a tidy price channel. Stop 148.75.

Welcome back COOL. Youve only missed headaches this past week. I thought you were in search of King Solomons Mines, knowing your love for Gold, forgot you were on vacation.

I think we can go till 148.5-.6 before any big downward movement...that's the major resistance as discussed in last few posts.

BTW, I still don't see a trend and will sit on the sidelines, although I have to say that we just broke the AUDJPY H&S which may be an indication to strength in JPY and thereby causing geppy to tank down. I will wait for any formation....may be try the AUDJPY short.

I entered long at 148.04

Hye guys...

i tak a risk to short at 14862, SL at 14930, TP at 14660..

happy trading

Still holding short from 91.57 (Jan.14) for an objective of 89.00
Stop now at 91.30 (Kijun-sen) locking in 27 pips.
See also Elliot Wave | Forex Technical Analysis

Is there anybody long @ EURJPY ? I see a bottom after rebound from the 130.3 support and potential target of 131.5

Regards

I just want to ask something so I could feel better about myself lol. Does anybody here feel clueless in these last couple of days or week? if so, anybody knows why?

Besides being a bank holiday in US today....

I have been like that in the past. That's called information overload... If you don't see a trend, stay flat. That's what I do

BTW I exited my long at 148.83 for +79 pips.

Originally Posted by thewhattt

I just want to ask something so I could feel better about myself lol. Does anybody here feel clueless in these last couple of days or week? if so, anybody knows why?

Yeah me - abolutely clueless during this lull! Hope that makes you feel better. LOL.

Why? for me its spending to much time anticipating the break-out rather than doing what Keforex says.