USD/JPY Discussion | Page 275 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

USD/JPY

Similar Threads

USD/JPY Discussion 12 replies

NZD/JPY Discussion 12 replies

long eur/jpy, gbp/jpy, usd/jpy 11 replies

EUR/USD Bollinger Band Discussion 3 replies

Suidster's GBP/JPY Discussion 19 replies

Attachments: USD/JPY Discussion
Exit Attachments

USD/JPY Discussion

  • #5,481
  • Jan 3, 2008 6:18pm Jan 3, 2008 6:18pm
Quoting Subdude
What do you make of this surge upward? I'm suspecting a huge drop may be imminent - at the start of the Japanese session...
Who's your daddy?
  • #5,482
  • Jan 3, 2008 8:13pm Jan 3, 2008 8:13pm
Due to Japense Stocks falling down.
This pair will push down.
More fall to come..
  • #5,483
  • Jan 3, 2008 8:16pm Jan 3, 2008 8:16pm
107.2 will be extremely tough to get through. Might be a good buy around 107.40-107.50 for 100 pips.
  • #5,484
  • Jan 3, 2008 8:41pm Jan 3, 2008 8:41pm
Quoting falcon232
107.2 will be extremely tough to get through. Might be a good buy around 107.40-107.50 for 100 pips.
108.20 may prove difficult to break, that lower trendline extends back to April 1995. We tested it twice successfully this morning and rebounded nicely off of it, back upwards to test the 23.6 fib once again.

Very tradeable action these past 2 days.. We had clean breaks of the 38.2 and 23.6 fibs yesterday, both with textbook retraces followed by continuation. The 23.6 has been a great short entry zone ever since. I hope the rest of '08 is this clear cut (highly unlikely of course).
Attached Image
  • #5,485
  • Jan 3, 2008 8:54pm Jan 3, 2008 8:54pm
  •  Trader#0000
  • | Status: Unregistered Trader
Quoting jacobtrader
This pair will fall down more..
towards 108.30
Hi Jacob

Wondering where you got 108.30 from? I went short last night at 109.07 as it broke out of the sideways consolidation on the 30TF. Price hit about 108.25 before coming back to my entry? I didn't see any obvious support at that level - maybe I wasnt looking far back enough?

Cheers

CHECKstar
  • #5,486
  • Jan 3, 2008 8:58pm Jan 3, 2008 8:58pm
Quoting CHECKstar
Hi Jacob

Wondering where you got 108.30 from? I went short last night at 109.07 as it broke out of the sideways consolidation on the 30TF. Price hit about 108.25 before coming back to my entry? I didn't see any obvious support at that level - maybe I wasnt looking far back enough?

Cheers

CHECKstar
108.30 is the previous medium support.

However, USD/JPY will fall back again.. whats your view on the pair?
  • #5,487
  • Jan 3, 2008 9:12pm Jan 3, 2008 9:12pm
  •  Trader#0000
  • | Status: Unregistered Trader
I am new to this pair, and new to longer term time frames (previously I have been looking at short term scalps, around 15 pips).

That said, I have a medium term target of 107.5 ish. To me it is clearly in a down trend, however last nights price action at 108.25 and full retracement seemed to be a bit disconcerting.
  • #5,488
  • Jan 3, 2008 9:42pm Jan 3, 2008 9:42pm
Quoting jacobtrader
108.30 is the previous medium support.

However, USD/JPY will fall back again.. whats your view on the pair?
I definitly think that this pair will reach the 118 marker. This will more than likely be a good support level for this pair. In my honest opinion with the NFP closely approaching, it will more than likely hit 118. Unless the NFP chooses to be better than expected results, than I believe this pair will have a nice downfall, due to the possible weakening of the dollar. Your opinions???
"Don't work for your money, but let money work for you."
  • #5,489
  • Jan 3, 2008 9:47pm Jan 3, 2008 9:47pm
Quoting chady250
I definitly think that this pair will reach the 118 marker. This will more than likely be a good support level for this pair. In my honest opinion with the NFP closely approaching, it will more than likely hit 118. Unless the NFP chooses to be better than expected results, than I believe this pair will have a nice downfall, due to the possible weakening of the dollar. Your opinions???
118 as in 900 pips UP from where it is now??? That's very optimistic, to say the least.
  • #5,490
  • Jan 3, 2008 9:50pm Jan 3, 2008 9:50pm
I have been interested in going long since this area has been support several times in the last couple years. Wednesday was obviously a huge day and Thursday closed as a reversal candle with a spike low. Though it is a counter-trend trade, I'm in long and risk free.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.GIF Size: 64 KB
  • #5,491
  • Jan 3, 2008 9:55pm Jan 3, 2008 9:55pm
Quoting ssherwood76
I have been interested in going long since this area has been support several times in the last couple years. Wednesday was obviously a huge day and Thursday closed as a reversal candle with a spike low. Though it is a counter-trend trade, I'm in long and risk free.
Sorry, couldn't help it - risk free? Were you somehow able to get FDIC insurance on your long position?
  • #5,492
  • Jan 3, 2008 9:58pm Jan 3, 2008 9:58pm
By risk free, I mean my stop is at even and I've never had a problem with orders getting filled by IBFX. Even on Weekend market gaps.
  • #5,493
  • Jan 4, 2008 12:34am Jan 4, 2008 12:34am
I don't get it - the index is down 4%, the Yen is on a 5 hour slump??? Who the hell would be selling? Shouldn't this kind of drop on the market trigger all kinds of carry trade unwinding?

Anyway, went short @ 109.47... looking for mid-108 TP.
  • #5,494
  • Jan 4, 2008 12:47am Jan 4, 2008 12:47am
Quoting Subdude
I don't get it - the index is down 4%, the Yen is on a 5 hour slump??? Who the hell would be selling? Shouldn't this kind of drop on the market trigger all kinds of carry trade unwinding?

Anyway, went short @ 109.47... looking for mid-108 TP.

news coming out tommorow on usd which may decide the diredtion in the short term so the usd may be inretrace or ranging mode till then.... if news is neutral or good the usd/jpy pair may find a bounce up and do more retracing IMO if not its going down ....IMO good luck all
  • #5,495
  • Jan 4, 2008 1:03am Jan 4, 2008 1:03am
Quoting Subdude
I don't get it - the index is down 4%, the Yen is on a 5 hour slump??? Who the hell would be selling? Shouldn't this kind of drop on the market trigger all kinds of carry trade unwinding?

Anyway, went short @ 109.47... looking for mid-108 TP.
The Nikkei's gap down simply reflects the global equity weakness that occured on Monday and Wednesday when the Nikkei was closed. The Chicago traded Nikkei futures reflected this. I wouldn't read too much into it. The Hang Seng is soaring and US futures are up.

After the short squeeze yesterday when the ADP numbers came out, I wouldn't want to be holding any carry pair short into the NFP, anything other than a huge upset will likely lead to short covering.
  • #5,496
  • Jan 4, 2008 2:53am Jan 4, 2008 2:53am
interesting week for me for the JPY... won 9 out of 11 trades
for +49 pips but didnt catch either of the big moves...
  • #5,497
  • Jan 4, 2008 2:59am Jan 4, 2008 2:59am
i see where i need to stay in trades longer... im hopefully improving.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: yen.PNG Size: 41 KB
Click to Enlarge Name: yen2.PNG Size: 46 KB
  • #5,498
  • Jan 4, 2008 3:00am Jan 4, 2008 3:00am
mo dough
Attached Image (click to enlarge)
Click to Enlarge Name: yen3.PNG Size: 43 KB
  • #5,499
  • Jan 4, 2008 3:07am Jan 4, 2008 3:07am
not safe to go short in my opinion only a 4h close below 119.00 can change my idea... will not go long as well since there is no bullish setup
  • #5,500
  • Jan 4, 2008 6:44am Jan 4, 2008 6:44am
  •  Trader#0000
  • | Status: Unregistered Trader
Quoting Alfista
not safe to go short in my opinion only a 4h close below 119.00 can change my idea... will not go long as well since there is no bullish setup
At the moment the only thing that will have me go short on USDJPY is a convincing downward move on the 1 hour chart within the next few candles, or else I am packing up my bags and moving onto the next pair for now...

http://img299.imageshack.us/img299/1060/screencu4.jpg
264 traders viewing now, 1 is registered:
manishsingh