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USD/JPY Discussion

  • #70,481
  • Oct 22, 2017 1:48pm Oct 22, 2017 1:48pm
113.84 already..
  • #70,482
  • Oct 22, 2017 2:54pm Oct 22, 2017 2:54pm
Where to see?
  • #70,483
  • Oct 22, 2017 3:07pm Oct 22, 2017 3:07pm
Quoting Tengizhan
113.84 already..
113.520 so far. Market closed.
Forcemeat can not be unrolled back...
  • #70,484
  • Oct 22, 2017 3:11pm Oct 22, 2017 3:11pm
Quoting suprafx
Where to see?

https://www.easymarkets.com/eu/live-currency-rates/
  • #70,485
  • Oct 22, 2017 3:14pm Oct 22, 2017 3:14pm
Quoting Kujk2012
{quote} https://www.easymarkets.com/eu/live-currency-rates/
Damn...
Forcemeat can not be unrolled back...
  • #70,486
  • Edited 4:59pm Oct 22, 2017 4:42pm | Edited 4:59pm
Would love to see a break of 114 so we can finally leave this consolidation behind us. Past 113.5 I'm now bullish biased but I'm not taking a position until U.S. open tomorrow at the earliest.

Edit to add: Huge cluster of stops most likely just above 114.6
  • #70,487
  • Oct 22, 2017 4:56pm Oct 22, 2017 4:56pm
next resistance I see is 114.34 and 114.88, support I have marked at 113.05...
Look Sharp/Trade Tight
  • #70,488
  • Edited 5:24pm Oct 22, 2017 5:06pm | Edited 5:24pm
Looks like U/J is just going to take off higher. Doesn't appear we will be getting a gap fill.

I've become convinced... Trying to short the dollar (especially against the yen) is like trying to short the US equity indexes or trying to buy gold futures.

It may occasionally work. And you may occasionally be able to extract a small profit temporarily. But trying to do so in any repeated, extended fashion is like standing in front of a runaway freight train. Albeit a freight train that bounces all over the place... but an unstoppable, illogical, un-halting freight train nonetheless. Lol
  • #70,489
  • Oct 22, 2017 5:34pm Oct 22, 2017 5:34pm
I just wanted stop by and welcome all the new green-camp members...
  • #70,490
  • Edited 6:04pm Oct 22, 2017 5:39pm | Edited 6:04pm
Quoting Mwfinad1211
Looks like U/J is just going to take off higher. Doesn't appear we will be getting a gap fill. I've become convinced... Trying to short the dollar (especially against the yen) is like trying to short the US equity indexes or trying to buy gold futures. It may occasionally work. And you may occasionally be able to extract a small profit temporarily. But trying to do so in any repeated, extended fashion is like standing in front of a runaway freight train. Albeit a freight train that bounces all over the place... but an unstoppable, illogical, un-halting...
UJ or the dollar index itself has not followed US indices lately at all. And I also wouldn't say a gap fill soon is out of the question:
Attached Image (click to enlarge)
Click to Enlarge Name: UJ gap.png Size: 23 KB
  • #70,491
  • Oct 22, 2017 6:17pm Oct 22, 2017 6:17pm
Looks like there is sizable buy volume @ 113.8. Nice inverted H&S painted on 1/5 min

If we somehow manage to make it back to gap I will be a buyer with a loose stop and small position size.

Otherwise will see where we are at @ US open tomorrow.
  • #70,492
  • Oct 22, 2017 6:56pm Oct 22, 2017 6:56pm
114.10

Good support for USD/JPY by Japanese corps target at 114.50

Lets see if they can take out this July high ..
  • #70,493
  • Oct 22, 2017 7:30pm Oct 22, 2017 7:30pm
This event reminds of a quote by Sir John Maynard Keynes "The Market Can Remain Irrational Longer Than You Can Remain Solvent".
  • #70,494
  • Edited 8:11pm Oct 22, 2017 7:32pm | Edited 8:11pm
DXY is above 10 & 20 DMA. Mixed with the theater of tax cuts and rate hikes, no reason for $ to not continue much higher once we are decisively above 114

Edit to add: 113.8 still looks like a strong area of buying
  • #70,495
  • Oct 22, 2017 8:42pm Oct 22, 2017 8:42pm
Someone is coming in and buying the dip on every slight down draft. Doubt we are going much lower then this. Still not entering until US open though. I've been burned enough on U/J in the last 30 days.
  • #70,496
  • Oct 22, 2017 8:53pm Oct 22, 2017 8:53pm
Quoting Mwfinad1211
Someone is coming in and buying the dip on every slight down draft. Doubt we are going much lower then this. Still not entering until US open though. I've been burned enough on U/J in the last 30 days.
Once it hits my target, I don't trust any further movement past that target and the weekend gap blew past my target so who knows at this point. I'm not going to force any setups.
Here's Tom with the weather.
  • #70,497
  • Edited 9:10pm Oct 22, 2017 8:55pm | Edited 9:10pm
You might be able to pick one off here. risk small.
Attached Image (click to enlarge)
Click to Enlarge Name: 8.JPG Size: 158 KB

edit: if 113.8 holds buckle up.
  • #70,498
  • Oct 22, 2017 8:56pm Oct 22, 2017 8:56pm
What are the camp set-ups like for today, Mr 4xjunkie?
  • #70,499
  • Oct 22, 2017 8:58pm Oct 22, 2017 8:58pm
Quoting MoneyFocus
What are the camp set-ups like for today, Mr 4xjunkie?
Sentiment update.
The trade is 4xjunkie long to 115.495 darth pip short to 107.5 first strike wins.

4xjunkie,ohlc,nagamas,Nicholishen,csc2009,kingoswing,pipqueen18 are in the green camp.

darthpip,nagamas,Mr.yen,SckT, catroot,totsky, are the red camp.

kasper,mwfinad1211 is out for now.
moneyfocus dumped his longs.

anyone wants in just say what camp you want to be in and ill add you. it just for fun.
definitely bullish
  • #70,500
  • Oct 22, 2017 9:06pm Oct 22, 2017 9:06pm
Quoting 4xjunkie
You might be able to pick one off here. risk small.{image}
On the majors for me, there's just nothing really left worth enough to nibble on. The gap screwed things.
Here's Tom with the weather.
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