piphunters
Short

USDJPY: PRE FOMC - Techinals point to a drop of 300 pips

FX:USDJPY   U.S. Dollar/Japanese Yen
2017 16 51
3 months ago
The pair is in down trend as we have been mentioning all the time, it broke the triangle correction and had a beautiful text book style retest and rejection sending the pair to the downside again. tonight we have FOMC and technically it looks to me a potential 300 pips drop if the news favors a weaker dollar, if news is hawkish we can spike up momentarily before downside again resumes.

Note: Trading in or ahead of FOMC is extremely dangerous and there is absolutely noway to predict how the market will react so extreme caution will be required in planing any entries.

IMPORTANT: The setups posted here are not trade calls or signals and are intended for guidance purpose only and you should use your own strategy to determine entries and exits. They reflect my general view of the market and does not mean you should take the trades without a proper trading plan or strategy, If you would like to get all my setups together with exact entries and exits with please visit www.thepiphunter.com and subscribe.
3 months ago
Comment:
snapshot
If you would like to get all my setups together with exact entries and exits with please visit www.thepiphunter.com and subscribe.
TradZ
3 months ago
Exactly! I traded down a bit with profit but I'm done for now as it's getting closer to the major news:) Great Analysis!
Reply
piphunters TradZ
3 months ago
thanks, the USD looks poised for some battering tonight, we'll see :)
Reply
TradZ piphunters
3 months ago
this morning for me:0 But yes I'm excited to see what happens. I plan to trade up and down I dnt care how volatile! I know how to play these big movements now so, I hope to make some nice change for a wonderful boost:) Really, it depends how I see it but I'm using H.A. Candles so, I should be good - Cut losses quick and let profits ride:)
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piphunters TradZ
3 months ago
good luck!
Reply
TradZ piphunters
3 months ago
I don't know what Luck is, I do however know what skill is:0
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piphunters TradZ
3 months ago
term for generic good wish :)
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TradZ piphunters
3 months ago
hahah funny! I know what it means but that was just my way of saying that I don't believe in that word
Reply
piphunters TradZ
3 months ago
alright mate best wishes on your scalping.
Reply
TradZ piphunters
3 months ago
Thank you, now that word is more acceptable to hear(to me@least). Luck sounds more like ppl don't mean it but just say it lol
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giovannicanu
3 months ago
i think usd go down around 99 98. Mr. kuroda will do everything to bring back change around 101
Reply
piphunters giovannicanu
3 months ago
let's see, we traded below 88 during Kuroda and yes during those times he was able to get it up to 125 but seems things are changing again and they need to show to the market that the economy is out of trouble which ain't happening, also no Kuroda can prevent or a global risk event like an economic, geopolitical or a stock market crash which would be followed by a massive sell off of the pair from the four corners of the world.
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TradZ piphunters
3 months ago
I'm thinking of placing two orders@the same time going the opposite direction from each other, hmmm! Idk lol
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flashsolver
3 months ago
that's a hard trade, if you check monthly it's at a strong support level
Reply
bas70seven
3 months ago
I'm still thinking:

snapshot


So would fit perfect!
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jake66
3 months ago
Great chart mate, caught some of the FOMC heat
Reply
piphunters jake66
3 months ago
thanks
Reply
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