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USD/JPY Discussion

  • #6,101
  • Apr 15, 2008 4:20am Apr 15, 2008 4:20am
Daily chart signals for short. Will see how it develop later today.
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  • #6,102
  • Apr 15, 2008 7:59am Apr 15, 2008 7:59am
http://i32.tinypic.com/2i9ij2d.gif

Hitting resistance again.
  • #6,103
  • Apr 15, 2008 5:31pm Apr 15, 2008 5:31pm
Damn, been holding my shorts ... I hope it takes a plunge soon ....
  • #6,104
  • Apr 15, 2008 6:14pm Apr 15, 2008 6:14pm
I'm short as well.
101.85 and 101.75

I think we should probably see about 101.17 or so by London.
All TFs are overbought.

A 61.8 retrace should be doable/feesable, as they'll probably try to pick up buyers for tomorrows CPI news.

But, we'll just have to wait and see.

Trade what the charts tell you.
  • #6,105
  • Apr 15, 2008 6:33pm Apr 15, 2008 6:33pm
Quoting kujo17
I'm short as well.
101.85 and 101.75

I think we should probably see about 101.17 or so by London.
All TFs are overbought.

A 61.8 retrace should be doable/feesable, as they'll probably try to pick up buyers for tomorrows CPI news.

But, we'll just have to wait and see.

Trade what the charts tell you.
That should be the Top if it breaks 102.00

However the Japan market could drag it up if positive. Tomorrow AM are earnings from some big banks in the USA.

It needs to break 101.40 to go back to negative bias. It all depends on news overnight and how Europe and the USA trade on Wednesday.

This is the one currency pair more influenced by the ups and downs of the Dow than the technicals by themself.

I am short at 101.47 and if I see it going up I will hedge my position waiting for the reverse to 100

What a ride this pair has day to day.

Good Evening All !!!

Bruce
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  • #6,106
  • Apr 15, 2008 6:35pm Apr 15, 2008 6:35pm
I hope we don't have to eat our shorts ...
  • #6,107
  • Apr 15, 2008 7:42pm Apr 15, 2008 7:42pm
Quoting Schminner
I hope we don't have to eat our shorts ...


Taking another run up to 101.95 at 8:40 PM EST

Housing Data for 8:30 AM EST


16Apr12:30USD Housing Starts k Mar 1020 1065 1018 980 110016Apr12:30USD Building Permit k Mar 965 978 965 927 1005


Bruce
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  • #6,108
  • Apr 15, 2008 8:19pm Apr 15, 2008 8:19pm
I'm looking for the G7 high of 102.10 and the April 11 high of 102.24. Shorts might not come into play till tomorrows earnings and CPI.
Patience + Humility + Study = Success
  • #6,109
  • Apr 15, 2008 9:10pm Apr 15, 2008 9:10pm
Quoting Schminner
I hope we don't have to eat our shorts ...
Looks like we may get our Asian session 50.0 retrace..... ;- )
50.o fib is at the Weekly Pivot.

A close below the Gann with this next 1H bar and I'd bet we'll see that.
  • #6,110
  • Apr 16, 2008 3:17am Apr 16, 2008 3:17am
"Lehman CEO Fuld says worst of credit crisis behind Wall St.

NEW YORK -- Lehman Brothers Holdings Inc. Chief Executive Richard Fuld joined a growing chorus of investment bank executives in saying on Tuesday that the worst of the credit crisis is behind Wall Street."

Full Report.
http://seattlepi.nwsource.com/business/1310ap_lehman_shareholders_meeting.html





Are we expecting better financial reports in the coming days ?
Or is it too good to be true ?
  • #6,111
  • Apr 16, 2008 3:33am Apr 16, 2008 3:33am
Quote
BNP PARIBAS

* USD/JPY (101.60 at 8.27GMT -0.22): "Retains a sideways bias for now, above 100.00 yen, seen as a key bearish break point, with 102.00 as a first key

http://www.goldessential.com/index.p...=1121&Itemid=1
  • #6,112
  • Apr 16, 2008 5:07am Apr 16, 2008 5:07am
Quoting Warren Forex
Taking another run up to 101.95 at 8:40 PM EST

Housing Data for 8:30 AM EST


16Apr12:30USD Housing Starts k Mar 1020 1065 1018 980 110016Apr12:30USD Building Permit k Mar 965 978 965 927 1005


Bruce
That was some ride once HCIP came out at 5:00 AM

EUR/USD hits NEW high at 1.5969 and sends USD/JPY to LOW of 100.887 on my FXCM platform.

I am out of all positions and now will sit back and wait for US news at 8:30 this morning.

We could see a Big Drop in Dow and USD/JPY at 100.00

Then who knows if JP shows better results than expected. Everything then will be perfect in Fantasy Land and USD/JPY will go over 102.00

In Forex everything is possible and that is why fundamentals are the key to lasting success in Forex.

That's my view and my results keep me trucking on.

It is a nice feeling to be all in cash waiting for the next FX trading opportunity.

Great Trading Folks !!!

Bruce
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  • #6,113
  • Apr 16, 2008 2:41pm Apr 16, 2008 2:41pm
Quoting kujo17
Looks like we may get our Asian session 50.0 retrace..... ;- )
50.o fib is at the Weekly Pivot.

A close below the Gann with this next 1H bar and I'd bet we'll see that.
yup ... I didn't have to eat my shorts afterall ....
  • #6,114
  • Apr 16, 2008 5:33pm Apr 16, 2008 5:33pm
Just took a few more shorts .... I hope it plunges again ...
  • #6,115
  • Apr 17, 2008 1:24am Apr 17, 2008 1:24am
Quoting Schminner
yup ... I didn't have to eat my shorts afterall ....
Nope. and I've been scalpin it up and down on my 5M strat all day.
Full lots and 15 pips scalps work out just fine !
  • #6,116
  • Apr 17, 2008 3:51am Apr 17, 2008 3:51am
for usd/jpy, today is a define day. if the jobless figure come as expected, than it will in uphill for next few days. ML's report is also important.

however, if it is not, then i would an reversal trend is coming.....
nevertheless, current trading shows some information leak.---very bullish
  • #6,117
  • Apr 17, 2008 4:05am Apr 17, 2008 4:05am
Quoting kujo17
Nope. and I've been scalpin it up and down on my 5M strat all day.
Full lots and 15 pips scalps work out just fine !
It tested over 102.00 many times and touched 102.19 but could not break through 102.25 and EUR/JPY was as high as 162.85 carrying it up.

Now EUR/JPY is at 162.60 and USD/JPY is at 101.90

Jobless Claims at 8:30 AM and Lynch loss and Philly Fed will set the tone for today. Stay Tuned. Stong Resistance at 102.25 with bottom of the range at 101.05

Any comments or charts ?

Good Day to All ! ! !
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  • #6,118
  • Apr 17, 2008 5:56am Apr 17, 2008 5:56am
102.60 is a key level
Patience + Humility + Study = Success
  • #6,119
  • Apr 17, 2008 7:09am Apr 17, 2008 7:09am
Quoting winwise
for usd/jpy, today is a define day. if the jobless figure come as expected, than it will in uphill for next few days. ML's report is also important.

however, if it is not, then i would an reversal trend is coming.....
nevertheless, current trading shows some information leak.---very bullish

You are probably right. The chart climbs as if as the is a very convincing fundamental news.
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  • #6,120
  • Apr 17, 2008 1:00pm Apr 17, 2008 1:00pm
Quoting kujo17
Nope. and I've been scalpin it up and down on my 5M strat all day.
Full lots and 15 pips scalps work out just fine !
That's the beauty of this pair ... I love it ...
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