USD/JPY going kamakaazi....... | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

buy when starts going up, sell when starts going down 5 replies

Going Platform independent! Going pyhon! 29 replies

I'm going long USD/JPY at 80.50, target 100 34 replies

GBP/USD, USD/JPY, EUR/USD : Where are they going? 14 replies

What is going to happen to USD/JPY tonight? 1 reply

Attachments: USD/JPY going kamakaazi.......
Exit Attachments

USD/JPY going kamakaazi.......

  • #1
  • First Post: May 17, 2007 11:02pm May 17, 2007 11:02pm
Hi Folks
I am a forex newbie, and an ignorant bum. I shorted the USD/JYP since last monday , around 120.23 and since then it has ,only , climbed 100 pips, no sign of coming down . What I hear is that this is a manipulation by Jap govt.
I am holding onto the loss ...with the hope it will turn around in sometime, perhaps 1 week or 2.
Can some person, more sensible that me tell me if that is the case at all.Some more idea as to whats gonna happen.
Thanks
Sam, SFO

  • #2
  • May 17, 2007 11:44pm May 17, 2007 11:44pm
The longer trend had always been up. Why would you try to short it? I never short Usd/Jpy because I hate paying for swap. It's much safer to buy Usd/Jpy on every dip and earn interest while you wait for your -100 pips to come back up to 0.
  • #3
  • May 17, 2007 11:57pm May 17, 2007 11:57pm
Quoting sieger007

I am holding onto the loss ...with the hope it will turn around in sometime,

there is your first most basic of problems....cut your loss now
  • #4
  • May 18, 2007 12:24am May 18, 2007 12:24am
Nobody knows what will happen, cut the loss now, while you still have an account.
The breaking of a wave cannot explain the whole sea.
  • #5
  • May 18, 2007 2:05am May 18, 2007 2:05am
Quoting sieger007
Hi Folks
I am a forex newbie, and an ignorant bum. I shorted the USD/JYP since last monday , around 120.23 and since then it has ,only , climbed 100 pips, no sign of coming down . What I hear is that this is a manipulation by Jap govt.
I am holding onto the loss ...with the hope it will turn around in sometime, perhaps 1 week or 2.
Can some person, more sensible that me tell me if that is the case at all.Some more idea as to whats gonna happen.
Thanks
Sam, SFO

and for 1 week or 2 you will pay the swap to the broker with HOPE only on your side...
  • #6
  • May 18, 2007 2:22am May 18, 2007 2:22am
Quoting sieger007
Hi Folks
I am a forex newbie, and an ignorant bum. I shorted the USD/JYP since last monday , around 120.23 and since then it has ,only , climbed 100 pips, no sign of coming down . What I hear is that this is a manipulation by Jap govt.
I am holding onto the loss ...with the hope it will turn around in sometime, perhaps 1 week or 2.
Can some person, more sensible that me tell me if that is the case at all.Some more idea as to whats gonna happen.
Thanks
Sam, SFO

beware.. i already loss after short uj for two days.
some say it will turn down anytime.. but the trend is still going up.. already break the highest price.. anyone could help...
be rich to help the poor!!!
  • #7
  • May 18, 2007 2:39am May 18, 2007 2:39am
i never try UJ anymore because the spread too big....i try to learn GU and EU..and i satisfield the result i got...as a newbie i still have to learn more in here...
  • #8
  • May 18, 2007 3:03am May 18, 2007 3:03am
Sirs
you are all right. I am paying that ugly swap and its time to get out . I shorted it cos that time it never reached this high and I am an idiot.
Fundamentally speaking , is there any news like the Japanese govt right now trying to get the yen cheap
Thanks
Sam
  • #9
  • May 18, 2007 5:18am May 18, 2007 5:18am
Quoting sieger007
Fundamentally speaking , is there any news like the Japanese govt right now trying to get the yen cheap
Today I am very surprised at this thread because I live in Japan and now we do not hear a talk of manipulation. So I decided to post rebutting evidence.
The Japan's government and the Bank of Japan do not intervene in the exchange market after March 16, 2004.
(Source: Ministry of Finance Japan)
You are recommended to read my article of the past.
Attached Image (click to enlarge)
Click to Enlarge Name: WS000231.JPG Size: 25 KB
Peace and Happiness through Prosperity (by Konosuke Matsushita)
  • #10
  • May 18, 2007 5:38am May 18, 2007 5:38am
Looks like you have had a nice drop in the past few minutes - save you a few pips.
  • #11
  • May 18, 2007 7:25am May 18, 2007 7:25am
Japs an industrial sector...so they keep holding their price down
  • #12
  • May 18, 2007 7:36am May 18, 2007 7:36am
Quoting johnjenin
beware.. i already loss after short uj for two days.
some say it will turn down anytime.. but the trend is still going up.. already break the highest price.. anyone could help...
USDJPY trend is up (daily candles). Though China's decision to increase floating yuan band benefits yen, the carry trade unwinding was not THAT tough... the point is that maybe longing usdjpy at this stage is not that safe... but trading against it is only recommendable if u know EXACTLY what ur doing...

G8 meeting can bring volatiliy on Monday, so I suggest you to wait until european session to trade any JPY pair.

iiivb
  • #13
  • May 18, 2007 7:40am May 18, 2007 7:40am
Honestly, man...I'm glad you felt the need to get out when you did. If your horizon is short term, then you probably need to trade with the trend.

I'm not sure where you have your sources about the manipulation thing, but I'm afraid, that's just your hope talking trying to justify a bad short-term trade. There hasn't been a BoJ manipulation in years. I know people like to tell themselves that, but it really hasn't happened. The only manipulation by the BoJ that has occurred has been in not raising their interest rates fast enough, which is artificially keeping their currency low. Other than that, BoJ manipulations are all heresay.

If you're trading short-term, you really need to follow the trend.

Quoting sieger007
Hi Folks
I am a forex newbie, and an ignorant bum. I shorted the USD/JYP since last monday , around 120.23 and since then it has ,only , climbed 100 pips, no sign of coming down . What I hear is that this is a manipulation by Jap govt.
I am holding onto the loss ...with the hope it will turn around in sometime, perhaps 1 week or 2.
Can some person, more sensible that me tell me if that is the case at all.Some more idea as to whats gonna happen.
Thanks
Sam, SFO
  • #14
  • May 18, 2007 1:00pm May 18, 2007 1:00pm
Check the News and Analysis section:

http://forexfactory.com/forumdisplay.php?f=8
  • #15
  • May 18, 2007 2:38pm May 18, 2007 2:38pm
Sirs again
Well Fumafuma and Mike may all be correct, perhaps I was the radar , since I read it elsewhere.
I saw the downslide and grabbed the slide. But I had too much false optimism in the UJ coming up, that why my losses were greater. So it helped to get the worse against the worst !!!
Now that the Chinese medicine seems to fade off ( the UJ is resting in peace at 121.12 as I write ) , is there a chance that weakness may come back ( like an 'unmasking' effect ) and its worth a 'long ' thought.
Thanks gentlemen for your thoughts.
STM
  • #16
  • May 18, 2007 2:47pm May 18, 2007 2:47pm
Both the short them trend ( day) and Mid Term trend( Weekly) are going up, the short day is taking abreath and might go down alittle to a resistance level and bounce back up but you might be in for a while till the trend is over
  • #17
  • May 18, 2007 2:55pm May 18, 2007 2:55pm
Quoting mrmikal
Honestly, man...I'm glad you felt the need to get out when you did. If your horizon is short term, then you probably need to trade with the trend.

I'm not sure where you have your sources about the manipulation thing, but I'm afraid, that's just your hope talking trying to justify a bad short-term trade. There hasn't been a BoJ manipulation in years. I know people like to tell themselves that, but it really hasn't happened. The only manipulation by the BoJ that has occurred has been in not raising their interest rates fast enough, which is artificially keeping their currency low. Other than that, BoJ manipulations are all heresay.

If you're trading short-term, you really need to follow the trend.
Eh? Are you sure? They dont exactly announce the actions you know, it would cause other countries to do-si-do. Japan has always manipulated currency to keep exports high. Thats why a nation that makes a huge amount of its GDP on exports STILL manages to have a currency 120 times cheaper than the dollar. Its not very natural is it?
Virtue finds and chooses the mean. Aristotle, Ethica Nichomachea
  • #18
  • Last Post: May 18, 2007 2:57pm May 18, 2007 2:57pm
Both the short trend ( Daily) and Midterm ( weekly) are going up, the short term is taking a breath and might go down a little before it hits a resistance and bounce backup. to continue the Mid term trend. depends on what your basis is, I will watch it for this coming week and minimize your losses


Quoting sieger007
Hi Folks
I am a forex newbie, and an ignorant bum. I shorted the USD/JYP since last monday , around 120.23 and since then it has ,only , climbed 100 pips, no sign of coming down . What I hear is that this is a manipulation by Jap govt.
I am holding onto the loss ...with the hope it will turn around in sometime, perhaps 1 week or 2.
Can some person, more sensible that me tell me if that is the case at all.Some more idea as to whats gonna happen.
Thanks
Sam, SFO
0 traders viewing now