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USD/JPY Discussion

  • #581
  • Jul 12, 2007 8:31am Jul 12, 2007 8:31am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
Yes...but on 122.60 there is also 61.8% fib. Do you think it will be broken...I am long from 122.34... Will we reach todays pivot resistance1 at 123.00?
  • #582
  • Jul 12, 2007 8:33am Jul 12, 2007 8:33am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
...and there is also 200SMA on 60min chart that will couse resistance at 122.6... My TP is at 122.6....
  • #583
  • Jul 12, 2007 8:34am Jul 12, 2007 8:34am
Quoting got pips?
i got the feelin that today will be a great day....lets make some money,....

1.40 for the euro
not likely in this short term. We still have good US data tomorrow.
  • #584
  • Jul 12, 2007 8:34am Jul 12, 2007 8:34am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
Quoting dado26
...and there is also 200SMA on 60min chart that will couse resistance at 122.6... My TP is at 122.6....
for 80 % of my position...I leave the rest for posible 123.00
  • #585
  • Jul 12, 2007 9:00am Jul 12, 2007 9:00am
Yes, yes had an order placed and all out at 122.40, had a dinner appointment (I'm in the asian time zone).. but anyway, that just added another 2% to my account. Standing by for re-entry if it comes..


Quoting Mr demark
there is a small resistance at 122.50 that's why price bounced back a little. We need to have that resistance turned into support!
Chances favour the prepared.
  • #586
  • Jul 12, 2007 11:03am Jul 12, 2007 11:03am
Quoting Mr demark
there is a small resistance at 122.50 that's why price bounced back a little. We need to have that resistance turned into support!
I think the resistance will hold. I'm in short at 122.54. I'm not sure yet, but 119.58 look like a viable target. I'll be ready to bail before then. There is also resistance at 122.61 and 122.72. The wave pattern also looks ripe for another drop.
  • #587
  • Jul 12, 2007 11:13am Jul 12, 2007 11:13am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
Quoting 4xpipcounter
I think the resistance will hold. I'm in short at 122.54. I'm not sure yet, but 119.58 look like a viable target. I'll be ready to bail before then. There is also resistance at 122.61 and 122.72. The wave pattern also looks ripe for another drop.
So you are expecting short trades from now on....
I am long ..my profit traget is 122.60-not reached jet but ill wait.
Looking at the chart and I see some minor support on 122.40 and I am counting on that level. If it broken than ill close it at brake-even...
  • #588
  • Jul 12, 2007 11:14am Jul 12, 2007 11:14am
Quoting 4xpipcounter
I think the resistance will hold. I'm in short at 122.54. I'm not sure yet, but 119.58 look like a viable target. I'll be ready to bail before then. There is also resistance at 122.61 and 122.72. The wave pattern also looks ripe for another drop.
Major resistance at 122.50ish....for hours now!!!!!
  • #589
  • Jul 12, 2007 11:18am Jul 12, 2007 11:18am
JPY crosses moving higher here as $/JPY remains firm above 122.50
  • #590
  • Jul 12, 2007 11:21am Jul 12, 2007 11:21am
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
I agree there is a resistance at 122.50 but mybe bulls are just acomulating strenght in this area to go further.....
It was just a yesterdays high point and anything else? I dont see anything else....
  • #591
  • Jul 12, 2007 12:11pm Jul 12, 2007 12:11pm
i dont see this resistance breaking before AUD or japan session. Money supply kinda thin now
100% of traders are losers. Just that some win more than they lose!
  • #592
  • Jul 12, 2007 12:39pm Jul 12, 2007 12:39pm
  •  dado26
  • | Joined Mar 2007 | Status: Plan your trade and trade your plan | 180 Posts
Quoting Mr demark
i dont see this resistance breaking before AUD or japan session. Money supply kinda thin now
My trade isnt exactly going as I wanted.122.6 got away for 3 pips.I didnt take it now I have to wait looking at this I hope just 38% retracement. I still favor long position but I dont know if my SL will hold it

P:S: Great thread about exits......
Can you check mine about Risk:Reward at beginers Q&A
and give me your opinion on that...
  • #593
  • Jul 12, 2007 7:57pm Jul 12, 2007 7:57pm
About Profit taking (exits)... Sorry if I sound to simple minded.
1 penny in my pocket is worth 2 in the river/tree/or in someone else's pocket. :

I may miss out on greater profits but, I live to battle another day.
The market is always there for you to en-enter and trade.

Again that was my 2 cents.
Chances favour the prepared.
  • #594
  • Jul 12, 2007 7:58pm Jul 12, 2007 7:58pm
Quoting Mr demark
i dont see this resistance breaking before AUD or japan session. Money supply kinda thin now
Trying to make a break for it now. I also agree that I think we're headed back up again. If we were to go into a downtrend after the big drop the other day, I think we would have seen it resume down yesterday (Thursday).
  • #595
  • Jul 12, 2007 8:13pm Jul 12, 2007 8:13pm
Quoting thegunslinger
Trying to make a break for it now. I also agree that I think we're headed back up again. If we were to go into a downtrend after the big drop the other day, I think we would have seen it resume down yesterday (Thursday).
I second that notion.
"Only when the tide goes out will we know who is swimming naked."
  • #596
  • Jul 12, 2007 8:18pm Jul 12, 2007 8:18pm
Ok back to UJ.

I think it's obvious to most of those using Fibs.
Weekly Chart; 23.6% is it 122 level (so we touched that already)
38.2 is at 120.70, if the next few days we move convincingly out of the 122 rut then it could be the end of the weekly retrace for a while.

On the Daily Chart; 61.8% retrace from the move down (using Fractals) is at 122.63-65 area (there is obviously some resistance for the time being), so it needs to clear 122.90 (72% level) in next few days to have a chance for attack. But saying this, MACD on the daily is moving into the negative zone.

H4, yes also struggling to break out, Stoch showing overbought for quite some time already, may need to take a rest...

My 2 cents. Technicals help understand key points, but certainly does not make trading it any easier.

Cheers. Standing by.
Chances favour the prepared.
  • #597
  • Jul 12, 2007 8:58pm Jul 12, 2007 8:58pm
Hi all

what is really happen on UJ last tuesday
market swing up to 175pips
low 121.72
  • #598
  • Jul 12, 2007 9:07pm Jul 12, 2007 9:07pm
Quoting cashworld
Hi all

what is really happen on UJ last tuesday
market swing up to 175pips
low 121.72
A lot of factors come to play.

- pressure from USD/CAD and GBP/USD plus EUR/USD which drive the dollar lower, thus JPY move up
- politics : speculation that another war carrier sent to Gulf to standby for Iran's attack by USA

That's my opinion.
  • #599
  • Jul 12, 2007 9:37pm Jul 12, 2007 9:37pm
thanks zaman
  • #600
  • Jul 13, 2007 12:08am Jul 13, 2007 12:08am
Quoting zamans98
A lot of factors come to play.

- pressure from USD/CAD and GBP/USD plus EUR/USD which drive the dollar lower, thus JPY move up
- politics : speculation that another war carrier sent to Gulf to standby for Iran's attack by USA

That's my opinion.

i think jpy up usd low too

but us can not attack to iran, its only advertise.. its a politic game between 2 gov
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