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USD/JPY Discussion

  • #621
  • Jul 16, 2007 3:06am Jul 16, 2007 3:06am
Quoting imbiber
Looks like I'm the odd man out. Short at 121.99.
Still holding the 121.90 area for the last 4 hours!
  • #622
  • Jul 16, 2007 3:49am Jul 16, 2007 3:49am
Man... I'm staying out until there's some real movement.
It's almost too sublime...
Chances favour the prepared.
  • #623
  • Jul 16, 2007 4:20am Jul 16, 2007 4:20am
Quoting zamans98
Still holding the 121.90 area for the last 4 hours!
There is not much news on the Yen this week. So don't panic. Eventually it will go up. Whatever you do, keep your positions open.
  • #624
  • Jul 16, 2007 10:14am Jul 16, 2007 10:14am
I took another long @ 121.66 and closed it @ 122.02. A clean 36 pips profit. Now waiting for my other long to kick some ass!
  • #625
  • Jul 16, 2007 10:18am Jul 16, 2007 10:18am
Quoting Sidus
I took another long @ 121.66 and closed it @ 122.02. A clean 36 pips profit. Now waiting for my other long to kick some ass!

we on the same page!! ka-pow. but still holding gbpjpy
  • #626
  • Jul 16, 2007 10:26am Jul 16, 2007 10:26am
Quoting Sidus
I took another long @ 121.66 and closed it @ 122.02. A clean 36 pips profit. Now waiting for my other long to kick some ass!
Looks like that 122.20/121.50 range
Patience + Humility + Study = Success
  • #627
  • Jul 16, 2007 10:26am Jul 16, 2007 10:26am
Quoting m00jiman
we on the same page!! ka-pow. but still holding gbpjpy
be confident!
  • #628
  • Jul 16, 2007 10:30am Jul 16, 2007 10:30am
I would also like to point out how important the 122 level is.

1. Round number
2. 09/07-10/07 upward correction, 50% fibonacci retracement
3. 03/06-22/06 downward correction, 23.6% fibonacci retracement
4. The 50 EMA is exactly on this level as a support

===> If the 122 support holds..... were in for a real winner to the upside!
  • #629
  • Jul 16, 2007 10:31am Jul 16, 2007 10:31am
Quoting Sidus
I would also like to point out how important the 122 level is.

1. Round number
2. 09/07-10/07 upward correction, 50% fibonacci retracement
3. 03/06-22/06 downward correction, 23.6% fibonacci retracement
4. The 50 EMA is exactly on this level as a support

===> If the 122 support holds..... were in for a real winner to the upside!

Cha-ching. Long truck prepared for takeoff
Patience + Humility + Study = Success
  • #630
  • Jul 16, 2007 12:17pm Jul 16, 2007 12:17pm
These are based on a 4hour candle

The move up to 122.08 was a 50% retrace of the move from 7-13-07 at 122.59 down to 7-16-07 at 121.54.

We should see a test of the low areas of 121.67-54 for the bounce upwards.

The issue here on the expected move upwards is the move down from the high at 123.65 down to 120.95 having completed a 61.8% retrace at 122.62 on 7-13-07, and the move upwards now is just the retrace from that upwards 61.8% retracement.

We have a support level at 120.95, and the 121.54 area, this would be the 2 areas of a re-entry Long.
  • #631
  • Jul 16, 2007 8:29pm Jul 16, 2007 8:29pm
Quoting monarch
These are based on a 4hour candle

The move up to 122.08 was a 50% retrace of the move from 7-13-07 at 122.59 down to 7-16-07 at 121.54.

We should see a test of the low areas of 121.67-54 for the bounce upwards.

The issue here on the expected move upwards is the move down from the high at 123.65 down to 120.95 having completed a 61.8% retrace at 122.62 on 7-13-07, and the move upwards now is just the retrace from that upwards 61.8% retracement.

We have a support level at 120.95, and the 121.54 area, this would be the 2 areas of a re-entry Long.
Almost accurate. 121.90's area for the last 2 sessions
high climb to a poor 121.08 for 3rd time in the last 2 sessions

10:22 $/JPY comes under pressure again as the pair dips back below 122.10 nt support lies around 121.90-95
  • #632
  • Jul 16, 2007 8:43pm Jul 16, 2007 8:43pm
Using Fib levels on Fractal points.. my readings are the same as monarch.

The 120.91-3 Level is the 1.618 extension of the further move down on H4. That could signal a completetion of the move... on the 4Hr strictly speaking of course.

For the Daily charts, the downmove extends to 120 (1.382) or 119.40 (1.618)
*added* that being said, there is a small support at 121.55 (61.8%), and breaking 121.40 could mean it might take a bit longer to recover.

On the whole, moving up is possible, but let's just say its "easier" to move down from the perspective on Technicals....

Chances favour the prepared.
  • #633
  • Jul 17, 2007 9:39am Jul 17, 2007 9:39am
Well ive gone long here @122.20 for a longer term trade. Breakout of triangle - looking for 122.65 - 70 area first and if broken will add to position.

My techincal chart also shows a potential break North
Attached Image (click to enlarge)
Click to Enlarge Name: uj.jpg Size: 54 KB
  • #634
  • Edited 10:48am Jul 17, 2007 10:24am | Edited 10:48am
As shown on the attached chart, we seem to be in an upward correction c, while the bigger scale is still point to the downside.

I took a long trade @ 121.90 with breakeven trailing stop now, targets per shown.

A failure is more worth selling in the next stage (end of c occurs). IMHO.

Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy070717.jpg Size: 39 KB
凹凸 only
  • #635
  • Jul 17, 2007 10:27am Jul 17, 2007 10:27am
unloaded mine at 122.10, buy @ 121.70

good enough for me.
  • #636
  • Jul 17, 2007 10:33am Jul 17, 2007 10:33am
I'm also out at 30 pips. Total of 66 pips in two days on usd/jpy. So I'm happy...
  • #637
  • Jul 17, 2007 11:04am Jul 17, 2007 11:04am
ooooopss, im tired of U J
  • #638
  • Jul 17, 2007 11:34am Jul 17, 2007 11:34am
Quoting Sidus
I'm also out at 30 pips. Total of 66 pips in two days on usd/jpy. So I'm happy...

congrats. So, where did you see it goes from here?

I already place my LONG at 121.80, again...
  • #639
  • Jul 17, 2007 11:35am Jul 17, 2007 11:35am
Quoting zamans98
congrats. So, where did you see it goes from here?

I already place my LONG at 121.80, again...
Same here. We're in the 121.70 - 122.20 range for now.
Patience + Humility + Study = Success
  • #640
  • Jul 17, 2007 11:40am Jul 17, 2007 11:40am
Still short at 121.99. Kind of getting impatient with this one though. I have stop and reverse at 122.65.
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