USD/JPY - MyTradingLand.com

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@yokoyi - 1 year ago

I have entered a buy order and set stop loss at 154.603 (lowest of Asian session) and take profit at 156

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@yokoyi - 1 year ago

Price is heading toward my take profit

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@yokoyi - 1 year ago

Quoted - yokoyi

Price is heading toward my take profit

USD/JPY heading in an upward trend & position is profitable. I will not wait for TP to be hit i will close manually and exit with profit.

I entered the market at 154.982 and i am exiting at 155.139

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@karbin - 1 year ago

Quoted - yokoyi

USD/JPY heading in an upward trend & position is profitable. I will not wait for TP to be hit i will close manually and exit with profit.

I entered the market at 154.982 and i am exiting at 155.139

BOJ policy, Rate decision & Press conference are coming out today. I'll be really careful trading JPY pairs.

There will be a lot of volatility in the market today in general that would affect all USD pairs as well if there is something unexpected.

We have a lot of data coming out today.

My strong advise is to trade down (very low leverage).

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@yokoyi - 1 year ago

Quoted - karbin

BOJ policy, Rate decision & Press conference are coming out today. I'll be really careful trading JPY pairs.

There will be a lot of volatility in the market today in general that would affect all USD pairs as well if there is something unexpected.

We have a lot of data coming out today.

My strong advise is to trade down (very low leverage).

Big orders around 155 for USD/JPY, I am going long with TP at 155 and SL at 152

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@yokoyi - 1 year ago

Quoted - yokoyi

Big orders around 155 for USD/JPY, I am going long with TP at 155 and SL at 152

SL has been hit. I guess market is going downward because of the pending FOMC meeting and uncertainty around where US interest rates will go.

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@karbin - 1 year ago

Quoted - yokoyi

SL has been hit. I guess market is going downward because of the pending FOMC meeting and uncertainty around where US interest rates will go.

Hello, its because BoJ have raised their interest rates to 0.25%.

This was not an expected decision, so you are seeing Yen strengthening a lot today. Not because of FOMC.

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@patrader - 1 year ago

Quoted - karbin

Hello, its because BoJ have raised their interest rates to 0.25%.

This was not an expected decision, so you are seeing Yen strengthening a lot today. Not because of FOMC.

I would say, since it was expected the move down was happening from 160s and it should have put lows in USDJPY, now that the decision is through.

So all eyes on FED if they cut rates but since that is unexpected he move will be big if it did happen, or if powell signals cut in the next meeting.

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@yokoyi - 1 year ago

Quoted - patrader

I would say, since it was expected the move down was happening from 160s and it should have put lows in USDJPY, now that the decision is through.

So all eyes on FED if they cut rates but since that is unexpected he move will be big if it did happen, or if powell signals cut in the next meeting.

The Yen has been appreciating against the US Dollar lately due to US recession fears caused by disappointing job reports in the US (unemployment up by 4.3%)

A stronger Yen means USD/JPY price has been going down hence i noticed a downward trend on the charts today.

However in every downward trend there must be pullbacks because short sellers will exit with their profits by buying.

In this trade, i hope to take advantage of the pullbacks so i have opened a long trade so when short sellers start buying to exit with profits i will benefit from the resulting upward trend.

Another reason for opening a long trade is that there are a lot of orders around 147.35 price range so i expect 147 ish to be a price magnet in an upward trend.

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@yokoyi - 1 year ago

Quoted - yokoyi

The Yen has been appreciating against the US Dollar lately due to US recession fears caused by disappointing job reports in the US (unemployment up by 4.3%)

A stronger Yen means USD/JPY price has been going down hence i noticed a downward trend on the charts today.

However in every downward trend there must be pullbacks because short sellers will exit with their profits by buying.

In this trade, i hope to take advantage of the pullbacks so i have opened a long trade so when short sellers start buying to exit with profits i will benefit from the resulting upward trend.

Another reason for opening a long trade is that there are a lot of orders around 147.35 price range so i expect 147 ish to be a price magnet in an upward trend.

SL @ 141.815 because this was the lowest price since yesterday

TP = 147.35 because lots of USD/JPY orders are stacked at this price range for today

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@yokoyi - 1 year ago

Quoted - yokoyi

SL @ 141.815 because this was the lowest price since yesterday

TP = 147.35 because lots of USD/JPY orders are stacked at this price range for today

As predicted an upward trend has started so i am waiting for price to hit my TP.

I am not going to exit early i will wait for TP to be hit so that my risk is not too much lower than my reward.

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@yokoyi - 1 year ago

Quoted - yokoyi

As predicted an upward trend has started so i am waiting for price to hit my TP.

I am not going to exit early i will wait for TP to be hit so that my risk is not too much lower than my reward.

However, as the market keeps moving in my favour i am going to keep adjusting my Stop Loss by moving it higher so i secure some profit.

Stop Loss has been adjusted to 146.62

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@yokoyi - 1 year ago

Quoted - yokoyi

However, as the market keeps moving in my favour i am going to keep adjusting my Stop Loss by moving it higher so i secure some profit.

Stop Loss has been adjusted to 146.62

Price is almost touching SL so i move it down because i feel the uptrend is still in force

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@yokoyi - 1 year ago

Quoted - yokoyi

Price is almost touching SL so i move it down because i feel the uptrend is still in force

As predicted price has gotten to my Take Profit point of 147.35 and my Take Profit has been hit so i made a $726.16 profit.

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@karbin - 1 year ago

Quoted - yokoyi

As predicted price has gotten to my Take Profit point of 147.35 and my Take Profit has been hit so i made a $726.16 profit.

Most of the major moves on JPY are happening during the Asian session.

I don't trade JPY as I have not tested my strategy on this pair & I don't think it is as effective during London.

These is an important levels I'm seeing on the monthly. The fact that it has broken below the 152 level is important. This was a major swing point on the monthly.

If the JPY is rising & dollar is also rising, that would be meaningful, it is a strong indicator that something is wrong. Right now, we are not there. But I'll watch out if that happens.

Breaking below the major swing point looks meaningful to me.

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@yokoyi - 3 months ago

Quoted - karbin

Most of the major moves on JPY are happening during the Asian session.

I don't trade JPY as I have not tested my strategy on this pair & I don't think it is as effective during London.

These is an important levels I'm seeing on the monthly. The fact that it has broken below the 152 level is important. This was a major swing point on the monthly.

If the JPY is rising & dollar is also rising, that would be meaningful, it is a strong indicator that something is wrong. Right now, we are not there. But I'll watch out if that happens.

Breaking below the major swing point looks meaningful to me.

Pre-New York Range Breakout Strategy for USD/JPY

I have marked out the Pre-NY range (12 pm to 1 pm) and I waited for price to breakout of it and reverse back into it before I took a sell. My SL is at 159.88