stephenleachman

USD/JPY TRADE SETUP (FAVERING SHORTS BELOW 107.50)

FX:USDJPY   U.S. Dollar/Japanese Yen
591 20 24
4 months ago
Japan's trade figures come in, its exports were higher for June but its trade balance was also higher then expectations. Doesn't look as the strong Yen heart exports so much.
USD/JPY             Daily Chart:
MY USD/JPY DAILY ANALYSIS (THE WEEK AHEAD)
4 months ago
Comment: Let's see if we can break and close below the trend line. Looking to add to my position.
4 months ago
Comment:
snapshot
4 months ago
Comment: Looking Good Have some support around 105.50
4 months ago
Comment: 105.50 comming up
4 months ago
Comment: I will be tacking off a quarter off my position around 105.00 We could see a retracement back to 105.50
4 months ago
Comment: My limit order was hit this morning for the remainder of my position @104.10 I think we might see a retracement or consolidation from hear. There is US data, Consumer confidence and new home sales coming out in 15 min 8AM EST. there's still downside potential and I will be looking to re enter shorts. My new bearish invalidation level @106.72
Ichimoku_Trader
4 months ago
Excellent work
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stephenleachman PRO Ichimoku_Trader
4 months ago
Thank you
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Dguaman
4 months ago
Down of 105 is really weak ... we could see 103.30 =) nice chart !
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stephenleachman PRO Dguaman
4 months ago
Thank you
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CezaryS
4 months ago
I have SL at 104. Has anyone idea it goes deeper or possible retracement?
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stephenleachman PRO CezaryS
4 months ago
I was looking at 104 could see some consolidation from there but there is downside potential.
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CezaryS stephenleachman
4 months ago
I have liquidated at 104,2 and can wait for new entry, thanks for your great support, please more :)
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stephenleachman PRO CezaryS
4 months ago
good call Keep in mind the FED and BOJ I'm planning to post many more just waiting to see what these central banks got up their sleeve.
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CezaryS stephenleachman
4 months ago
Thanks in advance :)
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stephenleachman PRO CezaryS
4 months ago
Ya what is it like at now 104.90 having a good bounce off that 104 handle
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CezaryS stephenleachman
4 months ago
i am in, thank you
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stephenleachman PRO CezaryS
4 months ago
Be cautious we could see a consolidation pattern develop
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CezaryS stephenleachman
4 months ago
I started with small size to see how it will be developing. I have doubts where should be SL
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xadiq
4 months ago
I think it could retrace to 105.50 before making continuing it's way down to the targets as specified in your chart.

I enjoy reading and appreciate your analysis. Thank you!
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stephenleachman PRO xadiq
4 months ago
I'm with you on that 105 - 105.50 I can't see selling around these lows at least Not for a swing position.
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BrunoSalles
4 months ago
Clean charts, good ideas. Thats a perfect joint.
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stephenleachman PRO BrunoSalles
4 months ago
Thanks it appreciated.
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CezaryS
4 months ago
how looks this trade for today, still bearish or something changed?
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stephenleachman PRO CezaryS
4 months ago
I apologize for the late response. Technicals are still bearish but i'm not looking to trade any of the Yen pairs before BOJ tonight. Fundamentally it's a mixed picture With the BOJ expected to cut interest rates deeper into negative territory. There's going to be a lot of volatility around the Yen tonight. It prudent to wait to we get through this event risk and see what governor kuroda has to say and also for the markets to settle so we could find a clear direction to trade in. Note If the BOJ disappoints (Not implementing a larger stimulus package or cutting rates) then we will see Yen strength across the board.
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CezaryS stephenleachman
4 months ago
does not problem.
From your explantation, we will see move on Monday morning. Any way, if you could add a comment in the weekend to predictable situation after BOJ .
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