piphunters
Long

USDJPY: Broke the down trend, big upside possible now

FX:USDJPY   U.S. Dollar/Japanese Yen
3009 31 59
The pair has broken out of the long term down trend, this move up can change the long term direction of the pair and send it heading towards 140 in the longer term, we got BOJ coming up soon and it is expected to boost the pair once again so we got opportunities here to go long now.

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 http://www.thepiphunter.com and subscribe.
Will you look for a correction after this impulse move and look for a break to the upside to get long? Thanks.
+1 Reply
piphunters nxtleveltrader
was long earlier but hit a protective SL and got stopped out, I will enter next week now
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USDJPY - 1200+ PIPS
Yup
+2 Reply
piphunters ChimbOt
nice, good trading
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Hello pip hope ur doing well I am little bit confused why your drawing the upper channel line this way
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piphunters faisal.altunaiji1
no need to worry about it that much, each person has his own methods or ways he believes is right, just follow the main direction of the market and you'd be fine
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Definitely in this. Been away for a few days and things have definitely turned around. Cheers
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piphunters mujunaeem
good luck
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What is st bottom?
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piphunters MikePips
short term
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MikePips piphunters
okay thanks
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snapshot

This looks no breakthrough pressure line.
+2 Reply
waterman No7855
agree.
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wzm0307 No7855
don't agree,I think it will be up to 110 or more
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No7855 wzm0307
They are likely right.
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Yah its very subjective isnt it.
For me it hasnt as shown either

snapshot

+2 Reply
No7855 Swerver
May be very subjective, but his reaction was a mass of behavior, look reflect the situation after the k-line position, to avoid subjective factors involved which, of course, no right or wrong, the only transactions can be determined whether the right or wrong of the transaction profit.
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Sure, I agree, there is no right or wrong, just making an observation the TL can be judged differently from the eye of the beholder.
Thanks for sharing

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Depends how you draw your line. For me it hasn't closed above important level to rebuy. I'm long from 100.30. Holding for a break above 104.35 and close to tp 105.25/107/110
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No7855 mrforex89
Congratulations, you got what you deserve profits, I did not really do too bad.
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i think it is not close above this line but let see above is 100 day moving average
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http://www.cftc.gov/dea/futures/financial_lf.htm

Traders in Financial Futures - Futures Only Positions as of August 30, 2016
-----------------------------------------------------------------------------------------------------------------------------------------------------------
Dealer : Asset Manager/ : Leveraged : Other : Nonreportable :
Intermediary : Institutional : Funds : Reportables : Positions :
Long : Short : Spreading: Long : Short : Spreading: Long : Short : Spreading: Long : Short : Spreading: Long : Short :
-----------------------------------------------------------------------------------------------------------------------------------------------------------
JAPANESE YEN - CHICAGO MERCANTILE EXCHANGE (CONTRACTS OF JPY 12,500,000)
CFTC Code #097741 Open Interest is 164,329
Positions
8,502 16,761 6,790 27,456 35,692 5,394 85,185 27,003 2,549 863 36,093 1,390 26,200 32,657

Changes from: August 23, 2016 Total Change is: -427
356 271 485 -5,752 -27 91 7,227 -24 314 117 -650 -1,000 -2,265 113

Percent of Open Interest Represented by Each Category of Trader
5.2 10.2 4.1 16.7 21.7 3.3 51.8 16.4 1.6 0.5 22.0 0.8 15.9 19.9

Number of Traders in Each Category Total Traders: 116
5 8 4 11 20 9 34 30 11 . 6 .


things not gonna change overnight careful for long usd/jpy
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chek the upcoming news for the next months for the yen then decide
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Not yet. Look on M15 . There is creates a rectangle so is a possible descline move down "short"
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mizurri mizurri
I,m sorry. Correction. Flag ofcourse.
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Engr.FX mizurri
I agree plus 15 min showing bearish divergence on rsi as well...
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If you look the fundamentals it's actually going to go back down. I'm going to sell
+1 Reply
BrennanHeart PRO mc_mozzarella
agree
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Engr.FX mc_mozzarella
I'm positioning to sell as well.. until what level are you going to sell?
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Hi! Stop achieved. Go to purchase again?
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piphunters Mutant2015
nope selling now
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