stephenleachman

USD/JPY TRADE SETUP (FAVERING SHORTS BELOW 107.50)

FX:USDJPY   U.S. Dollar/Japanese Yen
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)
Comment: Let's see if we can break and close below the trend line. Looking to add to my position.
Comment:
snapshot
Comment: Looking Good Have some support around 105.50
Comment: 105.50 comming up
Comment: I will be tacking off a quarter off my position around 105.00 We could see a retracement back to 105.50
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
Excellent work
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stephenleachman Ichimoku_Trader
Thank you
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Down of 105 is really weak ... we could see 103.30 =) nice chart !
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Thank you
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I have SL at 104. Has anyone idea it goes deeper or possible retracement?
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I was looking at 104 could see some consolidation from there but there is downside potential.
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CezaryS stephenleachman
I have liquidated at 104,2 and can wait for new entry, thanks for your great support, please more :)
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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
Thanks in advance :)
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Ya what is it like at now 104.90 having a good bounce off that 104 handle
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CezaryS stephenleachman
i am in, thank you
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Be cautious we could see a consolidation pattern develop
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CezaryS stephenleachman
I started with small size to see how it will be developing. I have doubts where should be SL
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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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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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Clean charts, good ideas. Thats a perfect joint.
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stephenleachman BrunoSalles
Thanks it appreciated.
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how looks this trade for today, still bearish or something changed?
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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
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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