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.
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wwfm
a year ago
agree :) BOJ working against Yen and it will go back to 125 in future
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piphunters wwfm
a year ago
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
a year ago
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
AlexxChan
a year ago
Pretty much what I have, great chart!
+1 Reply
piphunters AlexxChan
a year ago
thanks
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arif_awan
a year ago
snapshot
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Piet.Hein
a year ago
Agree !
+1 Reply
Piet.Hein Piet.Hein
a year ago
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
a year ago
good
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Amina66
a year ago
short?
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jhakas Amina66
a year ago
It is in buying zone...
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Amina66 jhakas
a year ago
the breakout has happened
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jhakas Amina66
a year ago
breakout downside? not yet...

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

snapshot
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piphunters jhakas
a year ago
it's already there, I believe this is as far as we go for now
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jhakas Amina66
a year ago
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
a year ago
wow! thanks for the explanation.
+1 Reply
piphunters jhakas
a year ago
thanks for your view
+1 Reply
piphunters Amina66
a year ago
yes but we don't have a confirmation yet, I wouldn't short this pair yet
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jhakas piphunters
a year ago
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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piphunters jhakas
a year ago
same here
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jhakas jhakas
a year ago
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
a year ago
very good dip in uj...
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piphunters jhakas
a year ago
yap
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CraigRan
a year ago
It's the time now!
+1 Reply
piphunters CraigRan
a year ago
agree
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FKHo PRO
a year ago
It looks like going to its mean price, but in long term seems weak.
snapshot
+1 Reply
jhakas
a year ago
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
a year ago
Nice share.
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jhakas jhakas
a year ago
special deal taken out with spike down lol.. anyhow i am still holding my other longs..
+1 Reply
FKHo PRO jhakas
a year ago
The dive is crazy.....
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piphunters FKHo
a year ago
probably taking out last buyers from the market before rising
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CraigRan piphunters
a year ago
wow so there are some serious flow beneath
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CraigRan
a year ago
i take my words back! this dive is go insane
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jhakas CraigRan
a year ago
this dive is indeed crazy due to spx500...
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CraigRan jhakas
a year ago
the PMI report did not help much and still going down
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GoodLuckbabe
a year ago
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
a year ago
i agree. 116 is a strong support.
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piphunters GoodLuckbabe
a year ago
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
a year ago
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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piphunters jhakas
a year ago
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
+1 Reply
jhakas piphunters
a year ago
agree
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piphunters jhakas
a year ago
hopeless case now for buyers... it'll probably go to 100 area in coming months
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piphunters GoodLuckbabe
a year ago
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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Amina66
a year ago
news ruined it O.o
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Piet.Hein
a year ago
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
a year ago
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
a year ago
thanks, actually I will not enter this now, Im going to wait more. hahah yes, deep trouble technically, Good luck :)
+1 Reply
piphunters Piet.Hein
a year ago
:)
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IvanLabrie
11 months ago
Trendlines can be deceptive.
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piphunters IvanLabrie
11 months ago
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 piphunters
11 months ago
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
11 months ago
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 piphunters
11 months ago
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
11 months ago
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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