USDJPY reached resistance...time to retrace

FX:USDJPY   U.S. Dollar / Japanese Yen
671 11 13
price has reached major resistance.. slapped on a pin bar and heading down.
I'm looking for a simple retrace to .382 fib

entry 112.645/112.637/ 112.634/
TP 1= 110.520
TP2= 108.288
TP 3= open to run

sl 113.456
Comment: stop loss hit. trade closed.
Comment: Re-entered short position at 111.804 & 111.751
TP 1 110.500
TP2 open to run
Comment: trade closed.
-- On my charts, a cluster of Pivot Points: Daily Weekly AND Monthly in the 112.38 to 58 area.. likey reverses--NO GUARANTEES!
The Trump election (not sure he won even-Not popular vote) (They may have evidence on Electronic vote Tampering too Look at: #AuditTheVote on Twitter) Trump Elected and trading currency markets after REALLY got difficult to trade for me.
I don't see why many markets @ all-time highs.. optimistic .. Indicies UP.. Bonds Down .. Dollar up @ 14yr highs. No Comprendo. Russ
RichFish404 RrrussT1
@RrrussT1, Thank you for that link! im going to check it out.
RrrussT1 RichFish404
@ RichFish404, Hi you guys.. Here is the latest what I find. There are 2 more experts who give webinars confirming this 115 move. Now found another source that says USD Yen may be on Escape Velocity Toward 120 - B of A Merrill Possibly best to be flat into NFP.. from me.
RrrussT1 RichFish404
@RichFish404, on my charts, I've got a Weekly Pivot Point at 114.60 but but but I don't think our pair is paying attention to RULES!! Me thinks B O J also is marveling in this. I don't believe in the Trump effect myself, but obviously Others DO! efxnews dot com on this 120 warning, or @efxnews also thinks Friday's news Best to have NO position Maybe Trade the Fade beccause it COULD be more of this Trump Effect BS.
Hi again, The Fed has lost credibility with me..with how they mislead, say, don't, say, hint, and MOSTLY they DO nothing. I know there''s 94-99% 'pricing-in' of the hike-According to Futures positioning. Fed are smart people. They know the worl is gonna HAVE TO take some pain with Rate Hikes. They're trying to soften the blow, by putting off the event. I think 50/50 they postpone until Feb. Maybe 70/30.
What I think is this: I think in order to NOT invoke Market Chaos, they may NO HIKE. That, if true, will be a HUGE retrace. Dec 14th. Giuseppe is good. He discusses "Smart Money" with a different view.. Smart vs Dumb money.
+1 Reply
Hi Ms Rich, I'm with you on needing a USD/JPY Retrace. That is a "normal" reaction we're used to. I have an 'underwater short' & almost got squeezed.I believe BOJ has been participating in covert way & times. This distorts whatever we may think SHOULD happen next on any currency pair. Giuseppe Basile, CSTA/IFTA is giving talks @ this address - Title of talk is "Usd/Yen to Blast Through 115.52" Thers about 4 new small talks, and One 1hr new as of Wednesday. I'll be back here with the link in 1 hr. You can Google-it too .. I just tried & got it.
Hope we cash in on this yen move .. up - or - down!! Russ
RichFish404 RrrussT1
@RrrussT1, Thanks for your comment. Looking forward to seeing how Yen does the rest of this year!
it has been consolidating with strong support... any chance for pull back until 111.70?
Fed rate hike is expected in couple of this short trade might work? Can you please advie SL for this?
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