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USD/JPY Discussion

  • #3,041
  • Aug 16, 2007 12:44pm Aug 16, 2007 12:44pm
maybe the boj just got in a 100 pip rally in usd/jpy
  • #3,042
  • Aug 16, 2007 12:58pm Aug 16, 2007 12:58pm
I sure like to know what will happen when they take this down to 0 - WOW -

I went to bed for awhile and this is phenomenal - The US announcement at noon was 0 itself and took this down like a bomb..... Well, only time will tell what's going to happen from here....... None of the other currency was affected.... unbelievable.
The Dove - Forex Trainer
  • #3,043
  • Aug 16, 2007 1:07pm Aug 16, 2007 1:07pm
UJ currently try to break the 34EMA...M5 hard job for him...
  • #3,044
  • Aug 16, 2007 1:08pm Aug 16, 2007 1:08pm
Like I have said many times over - never predict what this market will do, because anything can happen at any given moment.... I don't believe anyone was ready for this drop to happen at noon.... Not like this anyway.
The Dove - Forex Trainer
  • #3,045
  • Aug 16, 2007 1:12pm Aug 16, 2007 1:12pm
From todays high to the low is 473 pips..... so far.
The Dove - Forex Trainer
  • #3,046
  • Aug 16, 2007 1:29pm Aug 16, 2007 1:29pm
A strong support at the 112.94 that goes back to May of 05..... Lets see if this will hold.
The Dove - Forex Trainer
  • #3,047
  • Aug 16, 2007 1:32pm Aug 16, 2007 1:32pm
I stopped out at 113.30 for 319 pips. Woohoo!!
Crazy ride today...
Disregard all prognostications.
  • #3,048
  • Aug 16, 2007 1:50pm Aug 16, 2007 1:50pm
I've been riding the Jpy crosses all day. I'm predicting an even wilder session tonight and tomorrow.
Patience + Humility + Study = Success
  • #3,049
  • Aug 16, 2007 2:27pm Aug 16, 2007 2:27pm
Well today has been one crazy...........

There have been many times we get a bigger range in 5 minutes than whole days. Tomorrow could be the same, or it may be a damp squib. One thing I am certain of is we won't see a big bounce back or retracement.

G-Man
  • #3,050
  • Aug 16, 2007 2:29pm Aug 16, 2007 2:29pm
Quoting G-Man
Well today has been one crazy...........

There have been many times we get a bigger range in 5 minutes than whole days. Tomorrow could be the same, or it may be a damp squib. One thing I am certain of is we won't see a big bounce back or retracement.

G-Man
I don't know what I don't know. What I do know is that I'm up a tremendous amount of pips on the Jpy crosses. Good to have some reserves in the ol' warchest.
Patience + Humility + Study = Success
  • #3,051
  • Aug 16, 2007 2:36pm Aug 16, 2007 2:36pm
In the last 12 hours the Yen had busted every support since “05”…. With this type of slam and dunk it will be hard to determine the pivot movements at this time….. I will be on the thread off and on but my focus will be to watch and catch any deviation from previous pivots….. This may, or may not, affect the pivot system and this is what I have to determine as the candles hit the pivots and the reaction to that hit. So trade well and be careful on your entries.
The Dove - Forex Trainer
  • #3,052
  • Aug 16, 2007 2:38pm Aug 16, 2007 2:38pm
Quoting dove_alliance
In the last 12 hours the Yen had busted every support since “05”…. With this type of slam and dunk it will be hard to determine the pivot movements at this time….. I will be on the thread off and on but my focus will be to watch and catch any deviation from previous pivots….. This may, or may not, affect the pivot system and this is what I have to determine as the candles hit the pivots and the reaction to that hit. So trade well and be careful on your entries.

Yep. My friend, a trader for a bank, calls it a "chart breakdown"
Patience + Humility + Study = Success
  • #3,053
  • Aug 16, 2007 2:50pm Aug 16, 2007 2:50pm
Quoting dove_alliance
In the last 12 hours the Yen had busted every support since “05”…. With this type of slam and dunk it will be hard to determine the pivot movements at this time….. I will be on the thread off and on but my focus will be to watch and catch any deviation from previous pivots….. This may, or may not, affect the pivot system and this is what I have to determine as the candles hit the pivots and the reaction to that hit. So trade well and be careful on your entries.
Are you saying the pivots we calculate at 17:00 ET don't apply anymore because of th severity of this drop?
  • #3,054
  • Aug 16, 2007 3:05pm Aug 16, 2007 3:05pm
i DON'T KNOW ABOUT ANYONE ELSE BUT I GOT IN AT THE 113.05 AND STILL GOING.
The Dove - Forex Trainer
  • #3,055
  • Aug 16, 2007 3:07pm Aug 16, 2007 3:07pm
When it started that retrace got out at the 114.30..... Keep it up and I will take them.
The Dove - Forex Trainer
  • #3,056
  • Aug 16, 2007 3:09pm Aug 16, 2007 3:09pm
Quoting trader07
Are you saying the pivots we calculate at 17:00 ET don't apply anymore because of th severity of this drop?
No - I'm not saying that - as was just mention, a "chart meltdown" and have to be sure the pivot system is still intact - go ahead and calculate but be careful on the limit until I am sure....
The Dove - Forex Trainer
  • #3,057
  • Aug 16, 2007 3:11pm Aug 16, 2007 3:11pm
If this keeps up then the Yen will be more famous than the Pound.
The Dove - Forex Trainer
  • #3,058
  • Aug 16, 2007 3:12pm Aug 16, 2007 3:12pm
Interesting - the Yen anti-up.... $0.88
The Dove - Forex Trainer
  • #3,059
  • Aug 16, 2007 3:13pm Aug 16, 2007 3:13pm
Calling BoJ, calling BoJ.
Patience + Humility + Study = Success
  • #3,060
  • Aug 16, 2007 3:14pm Aug 16, 2007 3:14pm
Back in at the 114.00
The Dove - Forex Trainer
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