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USD/JPY Discussion

  • #5,541
  • Jan 7, 2008 12:54pm Jan 7, 2008 12:54pm
Quoting jacobtrader
So it looks you have 2 positions.. Hedging?
One Short one long ?

It is not much like hedging but it is more like i dont want to close a position with loss.

Anyways i think both of the present scenario are good as if UJ goes up then it would do a retracement which every one is looking for and then to the normal down trend and as of the second thing if UJ goes down then i am sure that Japenese Govt. would surely go something to get it back up as it is not of their interest to have a strong currency. So either way i think there would be chances of profit.
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  • #5,542
  • Jan 7, 2008 4:48pm Jan 7, 2008 4:48pm
Hi

I have H4 consolidating and H1 seems to be doing exactly that as well. But daily says we are still heading South. Ok H4 looks like it might shoot up a bit before it goes down. Are we expecting a retracenent on H4
All the best things in life are free.
  • #5,543
  • Jan 7, 2008 8:23pm Jan 7, 2008 8:23pm
Ok Its better to short down...
All indicators are giving signal it will push down today.

USD weakness is with all pairs today
  • #5,544
  • Jan 7, 2008 11:46pm Jan 7, 2008 11:46pm
Quoting jacobtrader
Ok Its better to short down...
All indicators are giving signal it will push down today.

USD weakness is with all pairs today
Hopefully it shoot down today.. as the new as well predicted that USD will be weak today..
  • #5,545
  • Jan 8, 2008 1:08am Jan 8, 2008 1:08am
Quoting engedi05
Hopefully it shoot down today.. as the new as well predicted that USD will be weak today..

Looks like things are going other way around. It is going up. i think it may go around 109.70 or something or may be little less then this but i have seen that all of my signals except my daily chart are indicating a fall down. Lets see what happens.
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  • #5,546
  • Jan 8, 2008 4:40am Jan 8, 2008 4:40am
Did some further study on 4hr Chart.
The pair is in the range of Resistance.. and shall start to fall down...

People pass your views.
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  • #5,547
  • Jan 8, 2008 5:30am Jan 8, 2008 5:30am
  •  Trader#0000
  • | Status: Unregistered Trader
Quoting jacobtrader
Did some further study on 4hr Chart.
The pair is in the range of Resistance.. and shall start to fall down...

People pass your views.
Hi Jacob

I see a large triangle has formed on the 4hr. I think a downside break would warrant a short entry...

http://img441.imageshack.us/img441/5029/screened3.jpg
  • #5,548
  • Jan 8, 2008 5:36am Jan 8, 2008 5:36am
Quoting CHECKstar
Hi Jacob

I see a large triangle has formed on the 4hr. I think a downside break would warrant a short entry...

http://img441.imageshack.us/img441/5029/screened3.jpg
lol... Looks like you like bright colours .. i cant see those numbers on your chart..
anyways i think as per you there would be a short if it goes below 109.10-109.30. But lets see what happens.. i am also looking forward for short as i have closed my long positions on this pair.
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  • #5,549
  • Jan 8, 2008 8:05am Jan 8, 2008 8:05am
USD/JPY falls down again half an hour before US market opens. What could this indicate?

Will it fall towards 118.30 ?
  • #5,550
  • Jan 8, 2008 8:09am Jan 8, 2008 8:09am
Quoting engedi05
USD/JPY falls down again half an hour before US market opens. What could this indicate?

Will it fall towards 118.30 ?

you mean 108.30, right?
  • #5,551
  • Jan 8, 2008 9:52am Jan 8, 2008 9:52am
Quoting fkatebi
you mean 108.30, right?
Yes, you are rite..

Pending Home Sales m/m show -2.6%, it is bad for usd, but why usd/jpy goes up after that news?
  • #5,552
  • Jan 8, 2008 9:55am Jan 8, 2008 9:55am
USD/JPY is making a Bearish Fallish three method..
I view as a fall in this pair..
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  • #5,553
  • Jan 8, 2008 9:56am Jan 8, 2008 9:56am
Quoting engedi05
Yes, you are rite..

Pending Home Sales m/m show -2.6%, it is bad for usd, but why usd/jpy goes up after that news?

if any one can explain this for us i really appriciate that!! i just losy some money, stupid, i went short last night aroung 5 AM, 109.50 and hoping i will go further south after bad news but looks like USD liks bad news and bounce back up, why ?
  • #5,554
  • Jan 8, 2008 9:57am Jan 8, 2008 9:57am
Quoting engedi05
Yes, you are rite..

Pending Home Sales m/m show -2.6%, it is bad for usd, but why usd/jpy goes up after that news?
see here
http://www.realtor.org/press_room/ne...ome_sales.html
  • #5,555
  • Jan 8, 2008 9:58am Jan 8, 2008 9:58am
its forming squeeze uptrend on 4hrs tf,mean strong uptrend expect 111,30
  • #5,556
  • Jan 8, 2008 9:58am Jan 8, 2008 9:58am
I have seen that this pair has turned many times from the 109.77 point and if it goes to more then 109.80 or 85 we can see the next big resistance.
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  • #5,557
  • Jan 8, 2008 10:17am Jan 8, 2008 10:17am
Quoting Invest_Master
I have seen that this pair has turned many times from the 109.77 point and if it goes to more then 109.80 or 85 we can see the next big resistance.
It seems that this pair is going down after did not break the resistance at 109.80.

As i am in short position, i hope this will make its way towards 108.30.

It got to break the daily pivot at 109.17.
  • #5,558
  • Jan 8, 2008 10:23am Jan 8, 2008 10:23am
In my opinion what we saw before, was that proper fall happend two hours before news and when we started to sell on news bigger traders took their profits. I saw so many times that situation, that i feel lik an idiot to get catched to it. Anyway it happend simply because i came to late for news. I wanted to trade from morning.
That, what i expect now is going up after breaking 109.80 but it gonna happen at asian session.
Thats what i think:
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  • #5,559
  • Jan 8, 2008 10:28am Jan 8, 2008 10:28am
All i can say never predict a trend through 1 Hour chart
  • #5,560
  • Jan 8, 2008 10:32am Jan 8, 2008 10:32am
Quoting jacobtrader
All i can say never predict a trend through 1 Hour chart

i agree with Jacob, it's so true. you know while ago i was reading a book about trading and guy was saying that i only looks at H4 and daily and even some times he doesn't care about news when trend has been formed strongly. as i write $/JPY is going down again from 109.70 to 109.28 at the moment, it's back to original down trend i think.
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