piphunters
Long

USDJPY: Good to buy on dips

FX:USDJPY   U.S. Dollar/Japanese Yen
1792 55 37
Expecting the pair to resume uptrend following correction of the earlier impulse providing an opportunity to go long.
agree :) BOJ working against Yen and it will go back to 125 in future
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yes, happens whenever BOJ intervenes.
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Hi I see you expect a resumption of the short term trend. What about the possibility of a resumption of the longer term downtrend. Look at the weekly chart. It's looks like a top. I think you should be equally prepared to sell the break. (this last move up from 116.00 could be an ABC correction). I think it's reasonable to expect some sort of a bounce... but will it hold? Cheers
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piphunters peterdcharlebois
depends on how you view it or what your views are.. I don't expect a longer term down trend in the pair.
+2 Reply
Pretty much what I have, great chart!
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piphunters AlexxChan
thanks
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Agree !
+1 Reply
Piet.Hein Piet.Hein
I see USDJPY going higher, and ranging - If I were a intraday trader I would certainly buy on dips! This article support my view but also give some reasons to an upcoming drop on the currency, so, if it drops like its saying, will be even better to buy: http://www.fxstreet.com/analysis/daily-fx-market-roundup/2016/02/02/
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piphunters Piet.Hein
good
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short?
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jhakas Amina66
It is in buying zone...
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Amina66 jhakas
the breakout has happened
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jhakas Amina66
breakout downside? not yet...

check this.. 119 area is extremely good to go longs.. if it goes there..

snapshot
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it's already there, I believe this is as far as we go for now
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jhakas Amina66
I am buying uj on dips.. as I believe spx500 will correct to upside as it is taken retracement and uj will follow spx 500.. here is sp500.

SPX500 Long Setup


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Amina66 jhakas
wow! thanks for the explanation.
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thanks for your view
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piphunters Amina66
yes but we don't have a confirmation yet, I wouldn't short this pair yet
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jhakas piphunters
it has barely completed its pattern... there is 1 more possiblity for another dip 119... uj is buying with both hands from here for 124 tp....
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same here
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jhakas jhakas
so now uj took another dip... and sell pattern is complete now... So now i am expecting consolidation.. but if it continue move down then that would be alarming..
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jhakas piphunters
very good dip in uj...
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yap
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It's the time now!
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piphunters CraigRan
agree
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It looks like going to its mean price, but in long term seems weak.
snapshot
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i am already long but my this deal will be more special..

UJ buy Setup with Both Hands for 124 TP with 40 pips sl.
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FKHo PRO jhakas
Nice share.
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jhakas jhakas
special deal taken out with spike down lol.. anyhow i am still holding my other longs..
+1 Reply
FKHo PRO jhakas
The dive is crazy.....
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probably taking out last buyers from the market before rising
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CraigRan piphunters
wow so there are some serious flow beneath
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i take my words back! this dive is go insane
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jhakas CraigRan
this dive is indeed crazy due to spx500...
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CraigRan jhakas
the PMI report did not help much and still going down
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i think we have nice buy setup some where around 117 to 118 let see how correction build the structure here not expecting break down of 116
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mabforbes GoodLuckbabe
i agree. 116 is a strong support.
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piphunters GoodLuckbabe
if it breaks the weekly correction bottoms around 115 would be forced to change the view in this and look for more downside.
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jhakas piphunters
I think its too early to see uj downtrend to resume.. spx500 jumped again from 1870. level now tripple bottom on 1hr chart.. so far its really confusing.. but lets see
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yes agree, I am still taking this down move as a correction of the move from 115.90 to 121.63, as longs as 115.90 is intact I will remain in this view
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jhakas piphunters
agree
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hopeless case now for buyers... it'll probably go to 100 area in coming months
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piphunters GoodLuckbabe
now almost halfway up from the lows, gbpjpy which I had been following along with is also back in business it looks now.
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news ruined it O.o
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Still agreeing, good to buy on dips, BoJ do not want it below 115, may be very good to buy now, but on the other hand if Yellen go dovish this week it can fall even more and break this epical level. Leading us to expect the next move to be aggressive, easing?...
+1 Reply
piphunters Piet.Hein
oh good luck! the monthly and weekly show deep trouble for the pair! I am selling if it goes to around to 116.50 area
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Piet.Hein piphunters
thanks, actually I will not enter this now, Im going to wait more. hahah yes, deep trouble technically, Good luck :)
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piphunters Piet.Hein
:)
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Trendlines can be deceptive.
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piphunters IvanLabrie
agree.. if you depend on it alone, but this upward moved earlier also was deceiving and I was looking at it as an impulse and thus expecting the down move as a correction, which turned out to be an impulse...
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IvanLabrie PRO piphunters
True, I wasn't 100% sure, had longs on retrace and actually closed at -0.15% before it turned ugly.
I didn't manage to flip short though, a shame.
+1 Reply
piphunters IvanLabrie
yes too bad you didn't flip, the jpy crosses are right now providing some of the best setups around
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IvanLabrie PRO piphunters
Yep, I had all intentions to short actually, then was tempted to long the retrace, but well.
I'm seeing 110 as possible, so, any short term entry is good on the short side.
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piphunters IvanLabrie
agree 110 is on the cards now, the monthly and weekly is leading me to believe that even areas near 104-106 is possible in the coming months, good luck!
+1 Reply
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