USDJPY - stay alert - for poss. reversal

Re: 1H higher risk Long entry mentioned a few posts back ...

almost right at the entry level > 82.6 mentioned there are significant moving average resistances, 144 ema and sma and 200 sma.

Be careful with these.

 

houston we may have a problem


bid 81.58 stop lows


not looking stellar atm

will either be -3% or + a lot

 

or maybe not

so much for that idea

 

4H UsdJpy Long pend order above modified to .... 82.422 STOP=81.198 ...... 30 secs. ago

 

81.27 as of seconds ago. another winning call by the only user with an accurate ET moniker on the site.

well done!

 

UsdJpy Long @ 81.578 STOP=80.790. I'm in 30 seconds ago.

 

Better spot for a try imho... WITH tight management since it's still very countertrend.

 

Will be away from the comp. so will post this trade's likely demise much later today.

 

Don't understand why you guys can't follow the trend?. It is clearly down and it will head to the 70s sooner or later. No wonder the OP is deadbroke.

 

I agree Fred, the whole idea of trying to pick a bottom is counter to how I operate too. It's nice to know where it might bottom out OR at least bounce to scale out of shorts, but I'm waiting for at least an intraday pattern of higher highs/higher lows to hold on pullbacks before thinking buy side, and that hasn't happened yet.