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USD/JPY Discussion

  • #5,681
  • Feb 12, 2008 7:35am Feb 12, 2008 7:35am
Quoting Maratamus
Moving averages becoming supports and the 107 area as well. Wait for a break of the descending trendline to go long with target at 107,45 which is a pivot point. That my plan fo today.
Exactly according to my plan. Exit at the pivot. The trade took only 20 minutes, and brought me 27 pips (1,23% of my account), done for today.
Attached Image (click to enlarge)
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  • #5,682
  • Feb 12, 2008 1:01pm Feb 12, 2008 1:01pm
Quoting Maratamus
Exactly according to my plan. Exit at the pivot. The trade took only 20 minutes, and brought me 27 pips (1,23% of my account), done for today.
Grats on the 27 pips. I don't see why that area would be a pivot point. I was interested in buying at trend line support extending from Jan 23rd which got wicked yesterday on the hourly.
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  • #5,683
  • Feb 12, 2008 1:04pm Feb 12, 2008 1:04pm
Nice it seems as if we might just test the upside near 107.70 tosday or tomorrow. If we break out of this, and close higher than 108 it may be a good thing for longs, lol.
"Don't work for your money, but let money work for you."
  • #5,684
  • Feb 12, 2008 3:34pm Feb 12, 2008 3:34pm
Quoting ssherwood76
Grats on the 27 pips. I don't see why that area would be a pivot point. I was interested in buying at trend line support extending from Jan 23rd which got wicked yesterday on the hourly.
Well my ACM platform just count the pivot point for me every day as follows:

(H+L+C)/3

I use these pivots and they work wonderfull at most times.

I attach a hourly charts where you can see the pivot is working nice as resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy1221H.JPG Size: 129 KB
  • #5,685
  • Feb 12, 2008 6:32pm Feb 12, 2008 6:32pm
Most amazing thing about USDJPY...

Look at the start of this thread.

"Long at 123.XX"

A year and a half ago I was short USDJPY and got a little burned on a short from 118, lost 30% of equity and stopped trading forex for a year.

Here we are 18 months later and USDJPY is in the basement by comparison.

It will be interesting to wee where the Yen goes from here, but I find it interesting how the facts have finally caught up with the pair. Perhaps there is more to go with Yen strength. AS the Yuan goes, so goes the Yen?
  • #5,686
  • Feb 13, 2008 7:56am Feb 13, 2008 7:56am
UJ moved out of triangle upwards, but during news spike. Lets wait for confirmation and it's possible that direction will be up for at least 200 pips.
  • #5,687
  • Feb 13, 2008 9:24am Feb 13, 2008 9:24am
Up UP and Away!!!!!
creating wealth one pip at a time.....
  • #5,688
  • Feb 13, 2008 9:33am Feb 13, 2008 9:33am
Quoting sDRs
UJ moved out of triangle upwards, but during news spike. Lets wait for confirmation and it's possible that direction will be up for at least 200 pips.

yes saw that oso. at least 200-300 pips. good luck friend.

may our target be reach ASAP.
  • #5,689
  • Feb 13, 2008 10:48am Feb 13, 2008 10:48am
Quoting sDRs
UJ moved out of triangle upwards, but during news spike. Lets wait for confirmation and it's possible that direction will be up for at least 200 pips.
chiiiiiiiiii hiiii yeaaah scored some good pips today espically when there hope for more pips to come later today or tomorrow, haha. So this may be the start to the breakout to the topside huh. Interesting what are your guys PT mines is set at 110.00 as it was resistance before along with triple zero psychological resistance.
"Don't work for your money, but let money work for you."
  • #5,690
  • Feb 13, 2008 4:58pm Feb 13, 2008 4:58pm
Ain't nothing but an equity-inspired rally; the U.S. stock market is still in the bear territory and mid-to long term prospects for this pair are gloomy. Watch out if you're long.
  • #5,691
  • Feb 14, 2008 3:11am Feb 14, 2008 3:11am
UJ resistance at 108.10 now is very strong support, but another resistance level is @ 108.35, and UJ is unable to cross it till now. Maybe US trade balance will help
  • #5,692
  • Feb 14, 2008 3:41pm Feb 14, 2008 3:41pm
Is it only me? or I am only caught long the USD against Yen.
Well, things do not look good to me.

My personal analysis shows clear targeting to 109-110 least but the movement does not say this will happen.

Anyone in my boat?
  • #5,693
  • Feb 14, 2008 5:58pm Feb 14, 2008 5:58pm
H4
The picture about the pair is turning out neatly from previous forecast: from support 106.63 it went up and broke the “triangle” shape. With its breaking two targets opened: 109.36 and 110.57 – the pair is on its way to them. There’s a possibility of return to the higher bound of “triangle”, level 107.60, from which an ascending movement to specified targets will recommence.
http://forexmillion.com/images/GRAPH...sdjpy%20h4.gif

D1
http://forexmillion.com/images/GRAPH...sdjpy%20d1.gif
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  • #5,694
  • Feb 14, 2008 6:04pm Feb 14, 2008 6:04pm
Quoting CounterTrend
My personal analysis shows clear targeting to 109-110 least but the movement does not say this will happen.

Anyone in my boat?
Not me. If Dow tanks another 100-150 points tomorrow (which it might), expect a drop under 107.
  • #5,695
  • Feb 14, 2008 6:25pm Feb 14, 2008 6:25pm
I definitely say that USD/JPY is on a downward trend for the next 2-3 days. Take the pips while you can!
  • #5,696
  • Feb 14, 2008 6:26pm Feb 14, 2008 6:26pm
Quoting GulfCoastPip
I definitely say that USD/JPY is on a downward trend for the next 2-3 days. Take the pips while you can!
Who is saying that it's on a downward trend ??? :surprised
  • #5,697
  • Feb 14, 2008 6:29pm Feb 14, 2008 6:29pm
Quoting CounterTrend
Is it only me? or I am only caught long the USD against Yen.
Well, things do not look good to me.

My personal analysis shows clear targeting to 109-110 least but the movement does not say this will happen.

Anyone in my boat?
Haha yup im in the same boat with you their, what quote were you able to get in their? I kinda got in really late and well all of sudden it seems as if it does not look like it will go our way....well hopefully it does. i got in at 107.45 and well targeting 110.00
"Don't work for your money, but let money work for you."
  • #5,698
  • Feb 14, 2008 6:32pm Feb 14, 2008 6:32pm
Me! Just watch. Come late Monday or Tuesday, we'll be back in the 106's.
  • #5,699
  • Feb 14, 2008 6:40pm Feb 14, 2008 6:40pm
I don't think people here realize just how much this pair tracks the Dow. Draw your own conclusions from the image below...
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  • #5,700
  • Feb 14, 2008 8:27pm Feb 14, 2008 8:27pm
So the only chance is a rally in the Dow on friday?

Aside from the Dow, look at the weekly chart, the macd divergence, the long legged doji, the breakout of consolidation range..many factors favour a spike to 110.

But, friday will decide. a close above 107.50 weekly, and i will widen my stop and wait for the 110 trigger. otherwise, i will exit at a good loss.

Market is so tricky. It broke out a multi-weeks trading range just to reverse other way? not convinced..
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