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USD/JPY Discussion

  • #5,501
  • Jan 4, 2008 8:20am Jan 4, 2008 8:20am
I was long and wrong but out at break even. It would be interesting if the bad news is shrugged off. I remember how it was when Japan raised their interest rate by 25bp on Feb 21st 2007.
  • #5,502
  • Jan 4, 2008 8:33am Jan 4, 2008 8:33am
Dont go long.
USD/JPY broke the major support at 108.20 levels.

Now it will fall towards 107.22

And then Long from there..
  • #5,503
  • Jan 4, 2008 12:29pm Jan 4, 2008 12:29pm
Quoting jacobtrader
Dont go long.
USD/JPY broke the major support at 108.20 levels.

Now it will fall towards 107.22

And then Long from there..
As predicted the pair did fall and had a final drop point a little under the 118 area. I am unsure if it will follow through to 107.22 but anything is possible. I believe before that occurs, their will be a retracement to the 119 area once again.
"Don't work for your money, but let money work for you."
  • #5,504
  • Jan 4, 2008 12:31pm Jan 4, 2008 12:31pm
It will go to 107.20..
Patience..
  • #5,505
  • Jan 4, 2008 1:28pm Jan 4, 2008 1:28pm
Quoting jacobtrader
It will go to 107.20..
Patience..

how about a chart and some analysis?... lareger timeframes ...uj is is looking down to test weekly support levels if it doesnt break these levels she is sure to bounce bak up if she breaks the lower supports she is done for

this is dangerous time to trade due to conflicts on larger timeframes..until price action tells us which way this thing is headed next... find a different pair! good luck all
Attached Image (click to enlarge)
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  • #5,506
  • Jan 4, 2008 3:18pm Jan 4, 2008 3:18pm
some of the seniors like mike w and forexnvice, queecee etc. have been posting on the cable update thread (as well as me) to try to help new traders.... check some of the seniors posts here
Cable Update (GBPUSD)


new traders need to learn money management first and demo until profitable check the skunny indicator free trading thread there u can find a link to vhands so you can practice good luck all
  • #5,507
  • Jan 5, 2008 3:50am Jan 5, 2008 3:50am
We are currently nearing the support level at 107.5 to 108 area. I think I will be placing a long trade over here w/SL:106 and PT:113 area
"Don't work for your money, but let money work for you."
  • #5,508
  • Jan 5, 2008 4:22pm Jan 5, 2008 4:22pm
i am not interday trader,but i predict the usd/jpy heading to 102. anyone agree
  • #5,509
  • Jan 5, 2008 5:41pm Jan 5, 2008 5:41pm
It will go towards 107.20 levels and will bounce back from there.
Weekly charts give indication that it will soon push up now.
There havent been any longs.. and longs will start coming up soon.
  • #5,510
  • Jan 6, 2008 11:50am Jan 6, 2008 11:50am
After doing some study
It looks USD/JPY will fall towards

106.50 levels..
Attached Image (click to enlarge)
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  • #5,511
  • Jan 6, 2008 5:21pm Jan 6, 2008 5:21pm
i smell a small retrace to 109.65 levels...
though short and medium term we are still in downtrend...
Just not sure to go short right away.
  • #5,512
  • Jan 6, 2008 5:46pm Jan 6, 2008 5:46pm
Patience i think is main thing..
If view is down trend.. I would short.. Though it will push down..
Asian Players coming.. they will have chance to Buy EUR/USD ..
Sell USD/JPY..
Did you see how NY players brought back the price later end of Friday Session.. So i think Asian Players get chance.. my view...

Though technically USD/JPY will have a nice fall.
  • #5,513
  • Jan 6, 2008 5:52pm Jan 6, 2008 5:52pm
Quoting sps8
i am not interday trader,but i predict the usd/jpy heading to 102. anyone agree
I see a test of 107.20 in the near term and, eventually, a test of 100. I want a good entry though and there may be a good retrace before that move.
  • #5,514
  • Jan 6, 2008 6:01pm Jan 6, 2008 6:01pm
Quoting falcon232
I see a test of 107.20 in the near term and, eventually, a test of 100. I want a good entry though and there may be a good retrace before that move.
Good entry is right now..
  • #5,515
  • Jan 6, 2008 6:13pm Jan 6, 2008 6:13pm
Some News

USD looks set to decline further vs EUR, JPY this week; analysts expect EUR/USD to advance towards all-time high at 1.4968, USD/JPY likely decline to 107. Whirlwind of disappointing U.S. economic data, record-breaking oil, gold prices, on back of volatile holiday trading, has damped hopes for USD resurgence at start of 2008. Safe-haven flows in FX markets have channeled funding into JPY, EUR instead of USD. Considering disappointing non-farm payrolls Friday, expectations ECB, BOE to stand pat on interest rates next week, USD could have up to 4 month tumultuous months to weather
  • #5,516
  • Jan 6, 2008 6:42pm Jan 6, 2008 6:42pm
Quoting jacobtrader
Some News

USD looks set to decline further vs EUR, JPY this week; analysts expect EUR/USD to advance towards all-time high at 1.4968, USD/JPY likely decline to 107. Whirlwind of disappointing U.S. economic data, record-breaking oil, gold prices, on back of volatile holiday trading, has damped hopes for USD resurgence at start of 2008. Safe-haven flows in FX markets have channeled funding into JPY, EUR instead of USD. Considering disappointing non-farm payrolls Friday, expectations ECB, BOE to stand pat on interest rates next week, USD could have up to 4 month tumultuous months to weather
I hope that's right. There's no question that the USD/JPY will test 107.20 again though, and the EUR/USD will test 1.4968.
  • #5,517
  • Jan 6, 2008 6:46pm Jan 6, 2008 6:46pm
Quoting falcon232
I hope that's right. There's no question that the USD/JPY will test 107.20 again though, and the EUR/USD will test 1.4968.

the boe voted 9-0 to cut rates... if they dont' i'll eat my hat! lol did u notice the way the pound got hammered since they voted? can't imagine them standing pat after voting.... just my humble opinion
  • #5,518
  • Jan 6, 2008 6:51pm Jan 6, 2008 6:51pm
Quoting falcon232
I hope that's right. There's no question that the USD/JPY will test 107.20 again though, and the EUR/USD will test 1.4968.

Falcon you have any positions in USD/JPY ?
  • #5,519
  • Jan 6, 2008 6:55pm Jan 6, 2008 6:55pm
Quoting jacobtrader
Falcon you have any positions in USD/JPY ?
Yeah, I'm short from 109.30. But I will TP before it gets to 107.20. You?
  • #5,520
  • Jan 6, 2008 6:59pm Jan 6, 2008 6:59pm
I had lots of Short positions.. Booked profits.
I am short at 108.60
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