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USD/JPY Discussion

  • #3,421
  • Aug 17, 2007 7:43am Aug 17, 2007 7:43am
I'm still getting 11 pip spread on USDJPY.

How are you guys with that. Time to sit still I think until this thing calms down a bit.

G-Man
  • #3,422
  • Aug 17, 2007 7:51am Aug 17, 2007 7:51am
Quoting G-Man
So I go and get some lunch and the Fed goes and does something stupid.

Doh!!! My timing can be impeccable.

G-Man
same here G-Man, i'm nursing a -40pip coz of the fed move
  • #3,423
  • Aug 17, 2007 8:05am Aug 17, 2007 8:05am
Looks like that rally ended at around the monthly S2 and weekly S3.

If the USDJPY continues to lead/follow or just stay close to the US equities anything could happen this afternoon. They could go higher yet, but I think the current euphoria could be short lived and if traders take the chance to sell positions we could see this down again.

Hope I'm not thinking too much.

G-Man
  • #3,424
  • Aug 17, 2007 8:07am Aug 17, 2007 8:07am
I need a help to read in to this. Could any of you help me please. As you all know Fed has cut discount rate by .50 , dose that mean USD/JPY could go south from now, regardless of DOW rally? Do you think under current conditions EU/JPY run north and USD/JPY will slow down the run or go south?
Thanking you all in advance.
Happy piping !
BANDA333
  • #3,425
  • Aug 17, 2007 8:13am Aug 17, 2007 8:13am
R1 anybody?
  • #3,426
  • Aug 17, 2007 8:15am Aug 17, 2007 8:15am
The CNBC and other talking heads, who hardly ever talk about FX have been all over the USDJPY issue all night and now they all agree the "fed action should give temporary strength to dollar at least today to key level of 114.80". After that who knows? It's either up, down, or sideways, simple, huh?
FUBAR...
  • #3,427
  • Aug 17, 2007 8:19am Aug 17, 2007 8:19am
Quoting G-Man
R1 anybody?
114.88?
  • #3,428
  • Aug 17, 2007 8:22am Aug 17, 2007 8:22am
G-man, am I on the same page with you for 116.40 as R1? I haven't nailed down all the variables yet that give different results. I'm working on refining that. My theory so far is that the only good pivot is a right pivot...
FUBAR...
  • #3,429
  • Aug 17, 2007 8:23am Aug 17, 2007 8:23am
Quoting G-Man
Looks like that rally ended at around the monthly S2 and weekly S3.

If the USDJPY continues to lead/follow or just stay close to the US equities anything could happen this afternoon. They could go higher yet, but I think the current euphoria could be short lived and if traders take the chance to sell positions we could see this down again.

Hope I'm not thinking too much.

G-Man
Temporary reprieve. i don't believe the cut can do wonders.
  • #3,430
  • Aug 17, 2007 8:34am Aug 17, 2007 8:34am
Quoting BANDA
I need a help to read in to this. Could any of you help me please. As you all know Fed has cut discount rate by .50 , dose that mean USD/JPY could go south from now, regardless of DOW rally? Do you think under current conditions EU/JPY run north and USD/JPY will slow down the run or go south?
Thanking you all in advance.
Happy piping !
Banda,

Currently the USDJPY is stuck to US equities.

The concept of this reduction in the discount rate is positive for equities therefore positive for USDJPY. Against all other currencies it is viewed as negative for the USD.

Hope this helps.

G-Man
  • #3,431
  • Aug 17, 2007 8:35am Aug 17, 2007 8:35am
Quoting ak4x
G-man, am I on the same page with you for 116.40 as R1? I haven't nailed down all the variables yet that give different results. I'm working on refining that. My theory so far is that the only good pivot is a right pivot...
Yeah I got 116.41.

I think at the moment we are totally at the mercy of the US narkets.

Personally I think that this boost will be short lived. But we all know not to think.

G-Man
  • #3,432
  • Aug 17, 2007 8:45am Aug 17, 2007 8:45am
Pivot to Pivot
Patience + Humility + Study = Success
  • #3,433
  • Aug 17, 2007 8:51am Aug 17, 2007 8:51am
114.20 push not sustained.. sigh..
thought i'd see some light.. :
  • #3,434
  • Aug 17, 2007 8:58am Aug 17, 2007 8:58am
I know I have 113.89 whats the next level down?
Patience + Humility + Study = Success
  • #3,435
  • Aug 17, 2007 9:00am Aug 17, 2007 9:00am
Closed 114.56 short @ 113.78
Closed 113.75 short @ 113.73

Phew...

80 Heartwrenching pips
  • #3,436
  • Aug 17, 2007 9:02am Aug 17, 2007 9:02am
Potential long at 113.75
Looks like a channel.
Will post a pic asap.
  • #3,437
  • Aug 17, 2007 9:03am Aug 17, 2007 9:03am
I'm long 113.80
Patience + Humility + Study = Success
  • #3,438
  • Aug 17, 2007 9:05am Aug 17, 2007 9:05am
http://www.michaelgwee.com/wp-conten...y%20USDJPY.jpg

See the channel ?
  • #3,439
  • Aug 17, 2007 9:07am Aug 17, 2007 9:07am
Quoting DutchTrader
I'm long 113.80
great job. turn at 114.60
careful if the channel breaks.

its just incredible how the 30min chart just coincides with the consumer sentiment report.

wonderful world.

impeccable timing. lol

dutch, small psychological barrier at 114.18...
  • #3,440
  • Aug 17, 2007 9:07am Aug 17, 2007 9:07am
Quoting leachimeewg
http://www.michaelgwee.com/wp-conten...y%20USDJPY.jpg

See the channel ?
114.70 next
Patience + Humility + Study = Success
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