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USD/JPY Discussion

  • #6,301
  • May 5, 2008 8:48pm May 5, 2008 8:48pm
Quoting scyang
Could you please share why you are long on usdjpy? It, as well as usdchf which typically rise and fall together, has been going down. Oil prices going up and stock market tumbling usually drive usdjpy and usdchf downward.
The 104.59 area was the area of resistance that turned support
Patience + Humility + Study = Success
  • #6,302
  • May 5, 2008 8:48pm May 5, 2008 8:48pm
Quoting centaurus
M1,M5,M15,H1 and H4 showed strong downtrend.
However D1 and W1 still on uptrend. Most fundamental news originating from US reveals that the worse maybe over. I am still undecided, need to see further development.
i'm went long at 104.83
  • #6,303
  • May 5, 2008 9:08pm May 5, 2008 9:08pm
Quoting centaurus
M1,M5,M15,H1 and H4 showed strong downtrend.
However D1 and W1 still on uptrend. Most fundamental news originating from US reveals that the worse maybe over. I am still undecided, need to see further development.
Why are people feeling like they should go long right now? Are you sure that the bad news from the US is over? Bernanke just spoke and said something to the effect that the credit crisis is still weighing things down. Supposedly his speech sent the USD downward. What do you think is the driving force that will bring usdjpy upward, if you hold the opinion that it might be bullish?
Expected the unexpected
  • #6,304
  • May 5, 2008 9:35pm May 5, 2008 9:35pm
Quoting Ultraman
i'm went long at 104.83
get SL LOL
  • #6,305
  • May 6, 2008 2:44am May 6, 2008 2:44am
Gann Angle/Fib price at 105.16 - 105.19 is the weekly resistance cluster. We tried to stay long over this price just after the opening on Sunday night, but failed to hold.

This area is likely to repel all sellers. Based on where the uptrending support angle comes, there may be a substantial correction before big buyers come in.

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  • #6,306
  • May 6, 2008 3:36am May 6, 2008 3:36am
Really , what's going on I open long position before 12 hours and i come back to find at same price

Anyone thinking to close lhis/her Long?
  • #6,307
  • May 6, 2008 4:37am May 6, 2008 4:37am
Closed my long at +2pips trend appears down at this time
Patience + Humility + Study = Success
  • #6,308
  • May 6, 2008 4:40am May 6, 2008 4:40am
short usdjpy at 104.80, if 104.45 breaks , then add to short for a test at 103.00
  • #6,309
  • May 6, 2008 4:43am May 6, 2008 4:43am
Quoting ATRIC
short usdjpy at 104.80, if 104.45 breaks , then add to short for a test at 103.00

have nice pips on u dude
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  • #6,310
  • May 6, 2008 5:25am May 6, 2008 5:25am
japan had a 4 day weekend, that has put any movement on hold, the rest of the world is waiting to see what they do from the data on friday from the u.s. there should be some movement tonight imho.
  • #6,311
  • May 6, 2008 5:35am May 6, 2008 5:35am
Quoting Hyerczyk
Gann Angle/Fib price at 105.16 - 105.19 is the weekly resistance cluster. We tried to stay long over this price just after the opening on Sunday night, but failed to hold.

This area is likely to repel all sellers. Based on where the uptrending support angle comes, there may be a substantial correction before big buyers come in.

Attachment
AS always technical indicators DO NOT LEAD the Market. The PROOF in this currency pair only, is the Dow. This currency trades at present time and for at least the last six months in almost 100% correlation to the Dow.

Therefore NO TECHNICAL CHARTS predicts that the Dow will GO UP or GO DOWN 250 Points in that day.

What you should have looked at was the NEWS at 10:00 AM yesterday at 10:00 AM.

When the Non Manufacturing ISM number came out OVER 50 and surprised everyone but the US Government and the USD/JPY only got as high as Spot 105.65, there was your confirmation that USD/JPY now had changed it's short term bias to down. Now you can use your Technical Indicators to look for the Support and Resistance points.

However AGAIN, be AWARE that if NEW Jobless claims on Thursday come in at 350,000 or better rather than 380,000 or worse, the Dow will rally, the USD/JPY will move up and then you need to be ready for the NEXT IMPORTANT surprise to once again change the FALSE PERCEPTION in the market that ALL IS WELL.

The USA is in meltdown phase. The FED will cut below 2% and the worst has not even started.

Those are the real facts and if you also want to start to learn the real facts and become a better FX trader, please send 15 minutes a day reading about how things really are at WWW.JSMINESET.COM

Good Trading To All Of You.

Bruce
{Promotion Removed}
  • #6,312
  • May 6, 2008 5:40am May 6, 2008 5:40am
I still holding long not sure is this real up trend?
Any suggest- help?
  • #6,313
  • May 6, 2008 8:07am May 6, 2008 8:07am
Short, since we broke under the friday low of 104.33
Patience + Humility + Study = Success
  • #6,314
  • May 6, 2008 8:13am May 6, 2008 8:13am
Quoting DutchTrader
Short, since we broke under the friday low of 104.33
Just what I thought. Where should be the tp target?
Expected the unexpected
  • #6,315
  • May 6, 2008 8:22am May 6, 2008 8:22am
Quoting scyang
Just what I thought. Where should be the tp target?
I'm targeting fibo level at 103.44 which is from the move 108 to 96
Patience + Humility + Study = Success
  • #6,316
  • May 6, 2008 10:05am May 6, 2008 10:05am
Quoting DutchTrader
I'm targeting fibo level at 103.44 which is from the move 108 to 96
USDJPY back up. Change of trend or simple retracement?
Expected the unexpected
  • #6,317
  • May 6, 2008 10:07am May 6, 2008 10:07am
Quoting scyang
USDJPY back up. Change of trend or simple retracement?
103.94 was resistance, bounce off that and now the 55sma provides support and the DJIA is perking up.
Patience + Humility + Study = Success
  • #6,318
  • May 6, 2008 10:37am May 6, 2008 10:37am
http://i32.tinypic.com/14wao1g.gif


May have peaked in the short term.
  • #6,319
  • May 7, 2008 9:26am May 7, 2008 9:26am
105.35 I am not to sure of the direction right now, think I will start scalping.
creating wealth one pip at a time.....
  • #6,320
  • May 7, 2008 10:09am May 7, 2008 10:09am
4 hour slow uptrend channel 105.70 next
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