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USD/JPY Discussion

  • #1,001
  • Jul 26, 2007 4:20pm Jul 26, 2007 4:20pm
We're apparently not done.
Patience + Humility + Study = Success
  • #1,002
  • Jul 26, 2007 4:28pm Jul 26, 2007 4:28pm
looking for that low 118 high 117 to long. currently @ 118.35
BAM BAM BOOM! -bravado
  • #1,003
  • Jul 26, 2007 4:33pm Jul 26, 2007 4:33pm
long @ 118.06
BAM BAM BOOM! -bravado
  • #1,004
  • Jul 26, 2007 4:35pm Jul 26, 2007 4:35pm
What the hell with USDJPY

I remember merlin was bullish on JPY
kiss the trend
  • #1,005
  • Jul 26, 2007 4:47pm Jul 26, 2007 4:47pm
Hey Folks
I am nearly losing my account and I have been trying to go long on EU/JPY, could anybody tell what I should look to go on long on any of the Yen crosses. Do you think USD/JPY, EU/JPY can go long on current prices 118.15 & 162.35
Thank you very much.
I appreciate very much your insight
BANDA333
  • #1,006
  • Jul 26, 2007 4:49pm Jul 26, 2007 4:49pm
Wow, the Great Unwind does not cease! Spare the longs some mercy Asia! Hard to imagine how much worse this could get if US GDP bombs tomorrow...
  • #1,007
  • Jul 26, 2007 4:50pm Jul 26, 2007 4:50pm
Quoting Trader KGB
Wow, the Great Unwind does not cease! Spare the longs some mercy Asia! Hard to imagine how much worse this could get if US GDP bombs tomorrow...
I don't see a bounce, except a dead man's bounce. Which makes for better short levels. We could see blood in the streets in Asia. Why would anyone long the USD at this point?
Patience + Humility + Study = Success
  • #1,008
  • Jul 26, 2007 4:54pm Jul 26, 2007 4:54pm
Quoting BANDA
Do you think USD/JPY, EU/JPY can go long on current prices 118.15 & 162.35
To be on the safe side, don't bottom feed here, it's disastrous. Wait for a strong uptrend first. If you absolutely must bottom feed, wait for 117 even, as per the weekly trend below.
Attached Image
  • #1,009
  • Jul 26, 2007 5:07pm Jul 26, 2007 5:07pm
Hi Trader KGB
Thank you very much for your insight. Thank you for taking time to explain it to me.
I appreciate your help
BANDA333
  • #1,010
  • Jul 26, 2007 5:16pm Jul 26, 2007 5:16pm
This is my first time I've seen this big of a move on the currencies. Wow. I freaked out so many times. I went short, but then got scared, and nagged 50$ through this whole ordeal...4 pip gain. Woo! :X
  • #1,011
  • Jul 26, 2007 5:20pm Jul 26, 2007 5:20pm
It's 6 pm EST, do you know where your pips are?

We are at a major hurdle here.....will be interesting to see what tomorrow brings....
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  • #1,012
  • Jul 26, 2007 5:24pm Jul 26, 2007 5:24pm
Quoting dove_alliance
I never leave my trade..... I am always with it..... I go for 20 pips per day with compounding..... If the trade is good I will stay with it until my indicator says a retrace..... After the retrace I am back in it..... I never, never go against the trend..... I plan for 7 pips profit on each entry, I never let my profit get below the 7 pip profit. Most of the time I'm taking out 25-30 pips per trade.... Follow the trend and you will always be in profit. Set a limit and never let your trade go below it. No-matter what.

Go with trend and you will ALWAYS be in profit.....not true, I am sure someone in this forum lost some longs on USD/JPY this week, or Cable, or EUR/USD, or USD/CAD (short, sorry), or EUR/JPY, or USD/CHF, or GBP/CHF, or AUD/USD, or NZD/USD.

But yes, in general, i agree whole heartedly. I am just pointing this out because I am sure there are some really confused newbies reading this tread today. You can always lose. Trust me, if it's possible, we find a way!

  • #1,013
  • Jul 26, 2007 5:26pm Jul 26, 2007 5:26pm
sell uj tp 117-116
  • #1,014
  • Jul 26, 2007 5:44pm Jul 26, 2007 5:44pm
currently long gj @ 241.63 & 243.50
long uj @ 118.06.

preparing for a possible unwind.

currently [email protected]. [email protected].
BAM BAM BOOM! -bravado
  • #1,015
  • Edited 6:26pm Jul 26, 2007 5:47pm | Edited 6:26pm
Quoting clockwork71
Go with trend and you will ALWAYS be in profit.....not true, I am sure someone in this forum lost some longs on USD/JPY this week, or Cable, or EUR/USD, or USD/CAD (short, sorry), or EUR/JPY, or USD/CHF, or GBP/CHF, or AUD/USD, or NZD/USD.

But yes, in general, i agree whole heartedly. I am just pointing this out because I am sure there are some really confused newbies reading this tread today. You can always lose. Trust me, if it's possible, we find a way!

I have been trading the usd/jpy for over two years now and always, always, made the pips in the trend...... If you know how to use proper indicators you too would know when the trend is in.

One other thing.... Trends can last from 24 hours to 2 months.... That is why I never go against the trend.... Retraces can be as much as 40 - 60 pips.... but no-matter what.... The trend will come back in..
The Dove - Forex Trainer
  • #1,016
  • Jul 26, 2007 6:41pm Jul 26, 2007 6:41pm
Quoting DutchTrader
I don't see a bounce, except a dead man's bounce. Which makes for better short levels. We could see blood in the streets in Asia. Why would anyone long the USD at this point?
My sarcastic plea wasn't to buy the USD specifically, but simply for them to stop buying the yen against all currencies.

I was actually short equity futures going into Feb 28th. I can't I believe I chose the day before the next cataclysmic global selling frenzy to long U/J (twice!). Shame on me. I wasn't alone of course, surprisingly, despite today's slaughter, the big 3 yen pairs witnessed increased long exposure amongst Oanda clients. Taken as a proxy for all of retail FX, there was much more retail buying today, for better or for worse.

With the combination of tomorrow's GDP, continued global financial turmoil/carry-unraveling, and Sunday's Japan election, the risks are very high in the next 24 hours and holding over the weekend. GL & GT
  • #1,017
  • Jul 26, 2007 6:43pm Jul 26, 2007 6:43pm
Quoting Trader KGB
My sarcastic plea wasn't to buy the USD specifically, but simply for them to stop buying the yen against all currencies.

I was actually short equity futures going into Feb 28th. I can't I believe I chose the day before the next cataclysmic global selling frenzy to long U/J (twice!). Shame on me. I wasn't alone of course, surprisingly, despite today's slaughter, the big 3 yen pairs witnessed increased long exposure amongst Oanda clients. Taken as a proxy for all of retail FX, there was much more retail buying today, for better or for worse.

With the combination of tomorrow's GDP, continued global financial turmoil/carry-unraveling, and Sunday's Japan election, the risks are very high in the next 24 hours and holding over the weekend. GL & GT
I did catch your intent. Currently the U/J's up 60 odd pipps off the 118 bounce still well within the trendline down though.
Patience + Humility + Study = Success
  • #1,018
  • Jul 26, 2007 6:46pm Jul 26, 2007 6:46pm
Quoting bravado
low 118.00. expect bounce and a rally.
http://www.forexfactory.com/showpost...&postcount=944

a pro.
BAM BAM BOOM! -bravado
  • #1,019
  • Jul 26, 2007 6:57pm Jul 26, 2007 6:57pm
Quoting DutchTrader
I did catch your intent. Currently the U/J's up 60 odd pipps off the 118 bounce still well within the trendline down though.
This trend started Friday morning at 04:00 ET..... It busted the trend after 12 this afternoon. It is now working it ways back into the trend and will continue up as it has now gone over 80 pips on the upside.
The Dove - Forex Trainer
  • #1,020
  • Jul 26, 2007 7:02pm Jul 26, 2007 7:02pm
Quoting bravado
long @ 118.06
GT. TP?
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