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USD/JPY Discussion

  • #5,781
  • Feb 22, 2008 7:39pm Feb 22, 2008 7:39pm
Does the close spike high to 107.20 affects anything? I see stocks rebound and many cross/jpy closed relatively high. What is going on again?
  • #5,782
  • Feb 24, 2008 1:41am Feb 24, 2008 1:41am
Fundamentally we dont have much to look at just yet but seems like GU/EU will provide fuel for us to see 109 ish before we back down to around 106
  • #5,783
  • Feb 24, 2008 8:50am Feb 24, 2008 8:50am
How EU/GU will fuel this?
If US equities slide again, usdjpy will too.
  • #5,784
  • Feb 24, 2008 12:42pm Feb 24, 2008 12:42pm
UsdJpy gapped up to 107.50 you might consider shorting to close this gap as market opens.

Good opportunity
  • #5,785
  • Feb 24, 2008 2:06pm Feb 24, 2008 2:06pm
All important data on the US side, due out this week. I am waiting to see the direction US equities are going to go.
creating wealth one pip at a time.....
  • #5,786
  • Feb 24, 2008 2:21pm Feb 24, 2008 2:21pm
[quote=CounterTrend;1867078]UsdJpy gapped up to 107.50 you might consider shorting to close this gap as market opens.

Don't get caught up in the illusion that the market has to close a gap when it opens. Sometimes a pair will go through the entire Asian session before closing and sometimes it may go into the European and London before closing. And, sometimes I never closes for days, weeks, and even months at a time. Nature hates gaps but is not obligated to close them just so traders can catch a few pips.
  • #5,787
  • Feb 24, 2008 3:35pm Feb 24, 2008 3:35pm
With USDJPY closing last week bearish, its nearly impossible not to close this gap.
  • #5,788
  • Feb 25, 2008 2:32am Feb 25, 2008 2:32am
Morning,

looks like UJ if forming reversal Head and Schoulders on H1 chart, i see that if 107.50 will be broken, UJ should get back at least at 108
  • #5,789
  • Feb 25, 2008 3:46am Feb 25, 2008 3:46am
and we are going up. Head and Shoulders worked
  • #5,790
  • Feb 25, 2008 6:25am Feb 25, 2008 6:25am
I was bullish in USDJPY this morning. I went long from 749. I'm now wondering if the price will break 800 and test the 820 area. I'm going to hold on until I have a good reason to close.
  • #5,791
  • Feb 25, 2008 7:59am Feb 25, 2008 7:59am
It did what you expected, a rise to 108.
But now what?

Strong resistance 108, even if its taken, harder seen 108.30-40 zone
108 is a fib resistance and a barrier..and price is trying to form a doji off it from 4-HR chart.

Much of cautioun here..there are so many reasons to reverse here unless equities rally more.

Fib+Res+Barrier+Candlestick formattion favour downside now.

BTW--I wonder though, was that another false break in daily uptrend? .. What is the direction, looks like it will will try to go back to 107 again, and thats getting odd.
  • #5,792
  • Feb 25, 2008 8:20am Feb 25, 2008 8:20am
Quoting CounterTrend
It did what you expected, a rise to 108.
But now what?

Strong resistance 108, even if its taken, harder seen 108.30-40 zone
108 is a fib resistance and a barrier..and price is trying to form a doji off it from 4-HR chart.

Much of cautioun here..there are so many reasons to reverse here unless equities rally more.

Fib+Res+Barrier+Candlestick formattion favour downside now.

BTW--I wonder though, was that another false break in daily uptrend? .. What is the direction, looks like it will will try to go back to 107 again, and thats getting odd.
40 minutes left till US new home sales, it will solve this question, but there are a lot of problems in US with housing, so probably we will go down.
  • #5,793
  • Feb 25, 2008 9:41am Feb 25, 2008 9:41am
Yeah the price started to look weak so i closed at around 787.
  • #5,794
  • Feb 25, 2008 10:38am Feb 25, 2008 10:38am
Im out of trade today with + 40 pips profit in UJ. It's hard to understand where UJ will go now, so let's wait or less than 107.80, or more that 108.25, 108.45
  • #5,795
  • Feb 25, 2008 11:40am Feb 25, 2008 11:40am
Actually, if we could maintain a firm close and I mean really small upper shadow market will test 108.30 again tomorrow. Anyone agrees?

Eventually can we really see 109 before 105? Sharp question. 105 will come as this expanded flat correction is over but was it over at 108.60 or the rally has room to run? one million question. although, long term players are certainly short and targeting way below 105.

I want to join the boat, but it is not showing signs of topping out at 108.60 as it broke its daily uptrend and reversed back to 108s.
  • #5,796
  • Feb 25, 2008 12:23pm Feb 25, 2008 12:23pm
Quoting CounterTrend
Actually, if we could maintain a firm close and I mean really small upper shadow market will test 108.30 again tomorrow. Anyone agrees?
I'm not sure if I agree, but I hope it does visiti the 108.30 vicinity .... I'm tired of holding these longs ..
  • #5,797
  • Feb 25, 2008 12:36pm Feb 25, 2008 12:36pm
Where you got long?

I want to Stop-and-Reverse, looks like credit conditions will control the stocks and usdjpy is heading much lower in a few months. do not want to be taken out by a huge downleg
  • #5,798
  • Feb 25, 2008 5:17pm Feb 25, 2008 5:17pm
The Pip Nailer System paid out this morning on USD/JPY.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy_nailed.gif Size: 27 KB
  • #5,799
  • Feb 26, 2008 8:16am Feb 26, 2008 8:16am
Really good day for US economy, but seems that UJ doesn't react to this one.

Im still out of trade for second day. Would be interesting to buy at about 107.00
  • #5,800
  • Feb 26, 2008 1:07pm Feb 26, 2008 1:07pm
Quoting sDRs
Really good day for US economy, but seems that UJ doesn't react to this one.

Im still out of trade for second day. Would be interesting to buy at about 107.00
That's what I'm waiting for too ...
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