fun n gaming with inflation fighter jerome
on wednesday
–
and then powell flipped to a hawkish tone muttering something about less cuts and in not exactly super clear terms has mumbled something about no cuts and in agonizingly confused linguistics suggest that a potential hike can not be off the table.
srce.: attempted futurologist Mtl JP
USDJPY Daily
In my 3 decades of experience with Yen ( my first major lost was shorting it in similar situation ) , what I see is continuous run to 162.
As long as 157 holds its ground.
And to be even more exact, I expect tomorrow another leg Up , just like on Friday – straight for the 162.
Second possibility is to see a pull back to 157 area and then within few days to hit that target.
Call me a degenerate trader ( no offence taken) but I just can’t see it any other way…yes, there is always a first time for everything, but not on Yen .
If BoJ tries to stop it right now, they are degenerate bankers….as I said : Blow of Rally, and then they step in , together with major players taking their profits.
USDJPY 4-HOUR CHART – ONLY ONE LEVEL MATTERS
Looking at this 4-hour chart, the only level that matters is 154.95
I am sure that the BpJ is looking at the same level as the one that would need to trade below to negate the latest leg up.
On the upside, it is pure guesswork with 160 the next “big figure” target.
April 26, 2024 at 4:39 pm#5303REPLY
SF Monedge
PARTICIPANT
Ahman – May I please have a 100% guarantee from you on my UsdJpy short from 157.70? Thank you in advance.
__________________________________
Dear SF
USDJPY is in a buying mood,158.50 is confirmed and will be reached.
There is no confirmed price downside yet. But the close below 158.50 will go to 157.90 and the close below 157.90 will go to 157.35 .the close below 15725 will go to 156.75
100% guaranteed.
When I was a bank trader, I became friendly with a trader who managed a forex dealing room. He related his philosophy, which I call a professional trader’s game plan that can be used by retail traders today.
A Professional Trader’s Strategy for the Retail Forex Trader</em>
USDJPY
I just got an email from the savvy trader I mentioned earlier with the following
I would suggest that the current climb will get sticky from 157 onwards
Re intervention he said
They likely will shoot across the bows 157 but the battleship will come out at 160 162 I don’t believe they have decided an exact level just yet but yes intervention likely initially by MoF then the the pension fund and finally boj hence why I say sticky from 157 up
I have a really good memory and recalled this being sent to me in Oct 2022 by one of our most experienced and savvy traders. It took some time but his key level is now on the radar.
UsdJpy
Just saying
The level to focus on will ultimately be 192+
with the level for them (BoJ/MoF) to truly defend 160-162
XAUUSD DAILY CHART — 2300-2400?
It has been around 2 weeks since the XAUUSD set its record high (2430).
The subsequent retracement has seen one test below 2300.
So, looking with an objective eye says moves so far outside of 2300-2400 have lacked follow-through.
With that said, there is a risk of a further retracement but ONLY if 2291 is taken out.
Otherwise, expect chop trade while within 2300-2400.
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