That's upper band of the Bollinger Bands indicator on the daily time frame. I use that indicator pretty extensively to help me find support and resistance levels.
USDJPY - How high?
- Thread starter antiseptic
- Start date
That's upper band of the Bollinger Bands indicator on the daily time frame. I use that indicator pretty extensively to help me find support and resistance levels.
Round number, key level, something like a bastion where bulls will feel comfortably themselves
Just human psychology I guess. Take 1K traders and ask them what would they choose as a target 116 or 116.34, I bet they'd choose 116
Round number, key level, something like a bastion where bulls will feel comfortably themselves
Just human psychology I guess. Take 1K traders and ask them what would they choose as a target 116 or 116.34, I bet they'd choose 116
Yep, you have a point but they would choose 120 than 116 because people use a round number as their internal reference number
Round number, key level, something like a bastion where bulls will feel comfortably themselves
Just human psychology I guess. Take 1K traders and ask them what would they choose as a target 116 or 116.34, I bet they'd choose 116
I did use an indicator (Bollinger Bands, to be more precise), but the fact that it was a round number did also sway my opinion.
Ahh ok cool thanks! Didn't have anything substantial there on my screen based on what i was watching so i was just curious.
This USD trend should continue especially with the surprise decision for 3 hikes this year (est was 2) imo.
This USD trend should continue especially with the surprise decision for 3 hikes this year (est was 2) imo.
You're welcome. I recommend looking into how to use Bollinger Bands. While I don't really use it to find entry points, I found it helpful to ascertain support and resistance levels that otherwise might not be obvious.
Anyway, anyone has any idea of future price movement when BOJ make decision on their interest rate next Monday? Will you expect yen to weaken further ? They are having negative interest rate at the moment
Buy a lottery ticket, the odds are better.
Otherwise, wait till after. At least this is what I do for binary outcomes.
haha, I am starting to think that with fundamental analysis of macro-news, FX is a better lottery ticket. But thanks, Justrading !
I'll probably have to do secondary research on that one. But from the information what I've collected so far, they'll stick to their interest rate (negative one) for now. But will the market react negatively initially? that's what I want to find out. I will wait until Monday to see if yen pairs open up with a gap.
Seriously mate, don't try to guess. Immediate PA doesn't necessarily make sense. Watch and wait.