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USD/JPY Discussion

  • #28,281
  • Oct 21, 2011 8:23am Oct 21, 2011 8:23am
Quoting SIgurs
Nothing to worry about Western ... Boj will step in with force. LOL
easy killer......its coming.. I aint in the UJ so i have no bias here. But trust me..its coming.
  • #28,282
  • Oct 21, 2011 8:24am Oct 21, 2011 8:24am
Quoting pinkiaiii
makes you wonder how this day gonna close :]

Imho, we haven't seen lows just yet. Markets will keep on testing until someone steps in with force. Boj has already indicated that soft policy will be used to lessen the strain on companies.

Timberrrrr.....
  • #28,283
  • Oct 21, 2011 8:28am Oct 21, 2011 8:28am
Quoting western
easy killer......its coming.. I aint in the UJ so i have no bias here. But trust me..its coming.
Look at other Jpy related pairs .... its the dollar that is sold !!!! Usdollar index dropped 0.8% already.

So no, don't expect Boj hard core sustained intervention.
  • #28,284
  • Oct 21, 2011 8:29am Oct 21, 2011 8:29am
but as we see from chf,and jpy previous intervetions they are short lived,and as better policies for companies id imagine there wont be many wanting to pay same amount of $$$ for toyota as for BMW but i agree that this isnt the bottom.
  • #28,285
  • Oct 21, 2011 8:34am Oct 21, 2011 8:34am
73/74 not touched yet..
If there was easy money lying around,no one would be forcing it into your
  • #28,286
  • Oct 21, 2011 8:41am Oct 21, 2011 8:41am
At this time we may be down to one main "safe haven" currency which is the Japanese Yen .... and it has just surged.

If the above is considered true, eventual Japanese intervention will be in vain, it will be sold into again. I'am afraid that they did too little too late !

Said it before, you have to try and give the first punch yourself... not wait until you get punched in the face.
  • #28,287
  • Oct 21, 2011 8:50am Oct 21, 2011 8:50am
Quoting SIgurs
This weeks package was and is just a copy of what they have tried before. Funny thing is that the initial package did not work and yet they still want to do it over again !
Insanity: doing the same thing over and over again and expecting different results.
  • #28,288
  • Oct 21, 2011 8:53am Oct 21, 2011 8:53am
Quoting SIgurs
At this time we may be down to one main "safe haven" currency which is the Japanese Yen .... and it has just surged.

If the above is considered true, eventual Japanese intervention will be in vain, it will be sold into again. I'am afraid that they did too little too late !

Said it before, you have to try and give the first punch yourself... not wait until you get punched in the face.
safe heaven ? unless you were living in japan then maybe,otherwise when with one call you might get 10000 pips under water somewhat doesnt sound like safe heaven
  • #28,289
  • Oct 21, 2011 9:30am Oct 21, 2011 9:30am
I saw UJ was range between 76.50 to 77.40 in the last 2 weeks and I was thinking about to trade in range a few times before but i did not do it, so finally I long it at 76.57 and s/l at 75.85... and got s/l.. it seems everytime when i plan to do a trade for UJ but did not do it, it was stay in range and when I actually did it, it will be more likely to s/l...
I also had a buy limit at 75.96 (i already forgot it with s/l at 75.70) and after my former order got s/l i suddently realized there is another long order also opens.. now i move it at b/e and it seems UJ is stay in 76.00-76.20 now, i hope it could move up but i have no idea now, at least put it b/e just make sure it is safe for this trade..
  • #28,290
  • Oct 21, 2011 9:44am Oct 21, 2011 9:44am
Quoting Yuchen
I saw UJ was range between 76.50 to 77.40 in the last 2 weeks and I was thinking about to trade in range a few times before but i did not do it, so finally I long it at 76.57 and s/l at 75.85... and got s/l.. it seems everytime when i plan to do a trade for UJ but did not do it, it was stay in range and when I actually did it, it will be more likely to s/l...
I also had a buy limit at 75.96 (i already forgot it with s/l at 75.70) and after my former order got s/l i suddently realized there is another long order also opens.. now i move it at b/e...

I am going to open a small position (nothing risky) in hopes something happens over the wknd. Thats a long position. mmm might wait too see if I can score in the 75 range somewhere, maybe 75.80's.

Honestly thou...this pair is the worst....i mean the worst....kinda like a roulette table...so maybe I wont touch it. LOL
  • #28,291
  • Oct 21, 2011 9:47am Oct 21, 2011 9:47am
Quoting Yuchen
I saw UJ was range between 76.50 to 77.40 in the last 2 weeks and I was thinking about to trade in range a few times before but i did not do it, so finally I long it at 76.57 and s/l at 75.85... and got s/l.. it seems everytime when i plan to do a trade for UJ but did not do it, it was stay in range and when I actually did it, it will be more likely to s/l...
I also had a buy limit at 75.96 (i already forgot it with s/l at 75.70) and after my former order got s/l i suddently realized there is another long order also opens.. now i move it at b/e...

HA. as soon as I hear the word hope....you are toast.
  • #28,292
  • Oct 21, 2011 9:50am Oct 21, 2011 9:50am
Quoting western
I am going to open a small position (nothing risky) in hopes something happens over the wknd. Thats a long position. mmm might wait too see if I can score in the 75 range somewhere, maybe 75.80's.
Ya, my biggest mistake was my order at 76.57 should set a s/l around 20 pips cause it was in range between 76.50-77.40 means if it breaks 76.50 it should have another further down..
anyway, it is already finished i am just wishing luck for the other long at 75.96 now...
  • #28,293
  • Oct 21, 2011 9:51am Oct 21, 2011 9:51am
not even reach my 1st target 77.80...
on hand for like a month
damn...lucky pratial banked and sl @ BE....
Attached Image (click to enlarge)
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Patience, Emotion Control and Discipline.
  • #28,294
  • Oct 21, 2011 9:56am Oct 21, 2011 9:56am
Quoting western
HA. as soon as I hear the word hope....you are toast.
well, my s/l is at b/e now so i dont think it will be a big problem
  • #28,295
  • Oct 21, 2011 9:57am Oct 21, 2011 9:57am
Quoting Yuchen
Ya, my biggest mistake was my order at 76.57 should set a s/l around 20 pips cause it was in range between 76.50-77.40 means if it breaks 76.50 it should have another further down..
anyway, it is already finished i am just wishing luck for the other long at 75.96 now...

I would maybe play a half straddle....
  • #28,296
  • Oct 21, 2011 10:32am Oct 21, 2011 10:32am
long this bitch xxx
  • #28,297
  • Oct 21, 2011 10:43am Oct 21, 2011 10:43am
Quoting realjumper
This from Joel Kruger of Dailyfx.com, one of the few analysts I listen to:

Moving on, although Usd/Jpy has gone nowhere in several weeks, with the market predominantly confined to the 76.00’s and consolidating just over the record highs from August at 75.95, retail traders remain overwhelmingly long the pair at a dramatic ratio of 10:1. While we certainly like the idea of being long this market, with the price trading by cyclical lows and likely due for the formation of a major base, we can not advocate a long position at current levels, with our...
We - retail traders - always loose, the big guys won
  • #28,298
  • Oct 21, 2011 10:47am Oct 21, 2011 10:47am
Yuchen, keep in mind that your BE is not safe over the weekend
If it should happen that your broker opens with a GAP down on u/j next week your SL will be filled at first price availlable...
  • #28,299
  • Oct 21, 2011 10:51am Oct 21, 2011 10:51am
Quoting iwjw
Yuchen, keep in mind that your BE is not safe over the weekend
If it should happen that your broker opens with a GAP down on u/j next week your SL will be filled at first price availlable...
Thank you very much. Fortunately, I am using ONADA and this broker can still open on the weekend (just the price does not move), if there will be a huge drop on Monday, then it will still hit my s/l at b/e so this is one of the reason why i use ONADA.
  • #28,300
  • Oct 21, 2011 11:21am Oct 21, 2011 11:21am
Quoting Yuchen
Thank you very much. Fortunately, I am using ONADA and this broker can still open on the weekend (just the price does not move), if there will be a huge drop on Monday, then it will still hit my s/l at b/e so this is one of the reason why i use ONADA.
You should be fine then
So you could close the position anytime you want during weekend?
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