Dislikedseem like the hammer pattern gona get validated by the follow up bullish candle!!
106.4x region will be interesting!!!
sonicIgnored
Anyway, I trade what I see...
I have USD LONG close @ 90 pip!!!
Close shop for me today!!!
sonic
USD/JPY Discussion 7 replies
NZD/JPY Discussion 12 replies
long eur/jpy, gbp/jpy, usd/jpy 11 replies
EUR/USD Bollinger Band Discussion 3 replies
Suidster's GBP/JPY Discussion 19 replies
Dislikedseem like the hammer pattern gona get validated by the follow up bullish candle!!
106.4x region will be interesting!!!
sonicIgnored
DislikedUSD/JPY is on the way back to 105.00 for purely fundamental reasons. The Dow had it's run because of short covering in the Dow on the financial stocks and the drop in Oil. Look at the $9.7 Billion Write Off just declared by Merrill Lynch !!!
See you at the 105.00 Post ... YUP !!!Ignored
DislikedUSD/JPY is on the way back to 105.00 for purely fundamental reasons. The Dow had it's run because of short covering in the Dow on the financial stocks and the drop in Oil. Look at the $9.7 Billion Write Off just declared by Merrill Lynch !!!
See you at the 105.00 Post ... YUP !!!Ignored
DislikedI must say that the short covering was quite surprising to me. It shot up more than I expected. That was more than a dead cat bounce. Should I call it a crazy cat bounce or a dead tigar bounce? The oil price plunged, and DOW reacted to it as well as to only good news. Well, anything could happen in forex trading.
However, it is interesting to note that the rally stalled AGAIN before it got to the rock-hard ceiling 200SMA. The 200SMA is still the strongest resistance for USD/JPY bulls.
Today will be also an interesting day, as CITI is likely to release a horrendous earning report. I don't want CITI to go bankrupt as I have a bank account with it, but suspect it may give the market a big negative surprise.
But again, the oil price seems to be the main driver for USD/JPY now. If the oil price continue heading lower, USD/JPY may have another rally even if CITI releases a horrendous earning report.Ignored
DislikedIm targeting 103.88 as well.... im short from 104.58 currently have my SL @ BEIgnored
DislikedI must say that the short covering was quite surprising to me. It shot up more than I expected. That was more than a dead cat bounce. Should I call it a crazy cat bounce or a dead tigar bounce? The oil price plunged, and DOW reacted to it as well as to only good news. Well, anything could happen in forex trading.
However, it is interesting to note that the rally stalled AGAIN before it got to the rock-hard ceiling 200SMA. The 200SMA is still the strongest resistance for USD/JPY bulls.
Today will be also an interesting day, as CITI is likely to release a horrendous earning report. I don't want CITI to go bankrupt as I have a bank account with it, but suspect it may give the market a big negative surprise.
But again, the oil price seems to be the main driver for USD/JPY now. If the oil price continue heading lower, USD/JPY may have another rally even if CITI releases a horrendous earning report.Ignored
QuoteDislikedMerrill said it lost $4.9 billion overall. On a continuing operations basis, it lost $4.6 billion, or $4.95 a share, down from a profit of $2.01 billion, or $2.24 a share a year ago. Analysts polled by Thomson Reuters were expecting the company to report a loss of just over $1.8 billion, or $1.91 a share on this basis.
Citigroup is expected to follow Merrill with its own ugly performance on Friday. Analysts expect the nation's largest bank by assets to lose more than $2.8 billion, or 61 cents per share
QuoteDislikedMerrill Lynch on Thursday spoiled investors’ appetite for financial stocks with larger-than-expected writedowns of $9.4bn that underlined banks’ continuing struggles to emerge from the credit crunch. In an unusual move, Merrill waited until after the market closed to report a $4.6bn loss in the second quarter and announce asset sales aimed at raising $8bn in much-needed capital.
DislikedConsidering that you interpret bullish price action as bearish intuition, I am not surprised that any movement is confusing for you.
Price action clearly shows indecision between buyers and sellers, as with a number of other currency pairs at the moment.
Speculating on the next major move is about as reliable as a coin-toss at this stage.Ignored
DislikedThere is a NEW rule made by the SEC about shorting the Financial Stocks for 30 days. Many of them have rallied in the last two days. First by the 10% Dividend Increase by Wells and Then JP Morgan Better Than Consensus Bull.
Merrill turned it back and as pointed out Citi is next. No real news out on Friday.
By Oil dropping and the Financials recovering there was a BIG move in EUR/JPY as The Carry went back on there ! Also EUR/USD dropped as well.
That moved USD/JPY up and it surprised me also but at least it quickly came of the High over 107.00 thanks to Merrill after the close.
BruceIgnored
DislikedThat Merrill news was interesting but I can't really give it all the credit for the pull back. What are the odds the news hits about the same time U/J comes up against the resistance of a down trend line above at 107.11?
It pulled back to the 61.8 fibo level and has been moving sideways since. I wonder if it randomly decides to retest that news in an hour and a half or so or if it re-experiences the shock of the news and heads even lower?
Hint: we're approaching the up trend line that it's been riding since it turned at 103.77 and I doubt it will keep going sideways when it gets there.
Not saying I don't believe in fundamentals, I'm just saying every twist and turn isn't due to "new news". Just my opinion.Ignored