Tradesmanship

(USDJPY) Daily and 4hr - speculation & analysis

FX:USDJPY   U.S. Dollar/Japanese Yen
6 months ago
Daily -

On daily we see an up trend that took place towards the end of 2012 and we had a trend change by the first month of 2016, in other words we had almost 3 years of up trend in USDJPY             .
USDJPY             was able to loss almost about 40% of what it gained in 3 years over 4 months, this is due to uncertainty of the market in the couple of past months with Brexit and USD rate hike.

I prefer more downside on this pair, with that being said, we shall wait and see what the market has in store for us.
If we break the channel, then I will wait for a small consolidation and buy. In the other hand if we break the minor channel in the 4hr I will sell till the green line, if we break that too, I will sell again after a consolidation.

We should be cautious once we reach the turncoat area. we can either face a double bottom there and head back up. or go way down.

- Sentimental data provided by Mongers Kit shows majority are Long on this pair :
https://gyazo.com/add0543ebca7e77d8f25f6f7848320f8

Liability Disclaimer : All trades posted here are my personal view of the market.
If your planning to use them as signal, do your own research first and you are responsible for your own entries, exit, profit and loss management.

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6 months ago
Comment: We have not broken either to the upside or the downside but downside looks more favourable. Lets watch and see what happens.
6 months ago
Comment: broken channel, am already selling.
6 months ago
Comment: SL at B/E
6 months ago
Comment: we gained loads of pips in this, i will short again after we break the green line.
5 months ago
Comment: I missed the short after the green line, because I was not trading Boj.

IF we get a healthy retracement back to the green line before we hit the turncoat area I might sell, if not, then we shall wait till we get to the turncoat area and look for a reversal of trend anywhere from 102 to 99 and buy.
5 months ago
Trade closed manually: we reached buy zone, no more sells.
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