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mlawson71
Mar 09 2016 at 11:26
1487 posts
The trend is bearish in general, but that won't be confirmed before it breaks below the previous low at 110.97.

csc2009
Mar 09 2016 at 12:46
834 posts
Rally continues, pressures on 112.20/30 zone, break down would open the door to 112.00 level.

dianajs
Mar 09 2016 at 15:57
823 posts
It's testing 113.20, a breakout above that level would be an indication that it will reach at least 114.50.

Duane Shepherd (DRFXTRADING)
Mar 10 2016 at 05:14
169 posts
Hey all,


This Sharp Reversal on the USD JPY yesterday would have taken my Stop Loss had I traded it..


It was a tempting setup but there were some important reasons that caused this reversal and led me to avoid this one









These types of trades can be tempting especially when the 4 H Chart offers 100 Pips. But what I find is that targets of less than 100 Pips or 100 Pips exactly tend to be associated with weak setups and signals. So even though the 4 H had strong Bearish Signals, the Signal on the Daily Chart was weak. This usually leads to volatility and reversals on the lower time frames.






As you can see, the last Bearish Candle was fairly weak compared to those that normally lead to strong moves such as those that led to the strong downtrend on the left hand side of the chart.


Key is to always keep an eye on the Daily Chart despite how strong the signals on the 4 H Chart maybe.







Trade Less, Earn More
dianajs
Mar 13 2016 at 10:31
823 posts
I just noticed the hammer, the inverted hammer and the doji candlesticks on the weekly time frame. I can't believe I missed this. The pair will be climbing next week.

mlawson71
Mar 16 2016 at 10:29
1487 posts
Right now it's just a tight range, I'm not opening new positions before a proper break out in either direction.

Ari Goldman (arigoldman)
Mar 18 2016 at 08:52
907 posts
It has more room to go down.

dianajs
Mar 20 2016 at 08:54
823 posts
It does, on the monthly time frame at least, that much is obvious. But whether or not it will be able to break below the previous low any time soon remains to be seen.

csc2009
Mar 20 2016 at 22:59
834 posts
Pressure is still on the downside, I set my next target at 111.00 level.

DAYTRADE-PROFIT (daytrade)
Mar 21 2016 at 07:11
9 posts
Usdjpy plays the range, consolidation pattern 110.80-114.60
Strong resistance at 120.40
Support level below the lowest price will target level at 106.00 area, as long as the usdjpy stay above 106 meaning the bullish trend didn’t over yet, but keep staying below 114.60 is not a good sign
Moving above 114.60 will lead to 116.40 resistance while crossing this level could give us the 118.20 area

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