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USD/JPY Discussion

  • #6,981
  • May 21, 2008 11:25pm May 21, 2008 11:25pm
There's a pinbar on the 4hr UJ chart
Patience + Humility + Study = Success
  • #6,982
  • May 21, 2008 11:43pm May 21, 2008 11:43pm
Quoting DutchTrader
There's a pinbar on the 4hr UJ chart
ok, so what does that mean ...
  • #6,983
  • May 21, 2008 11:54pm May 21, 2008 11:54pm
Quoting Schminner
ok, so what does that mean ...
Long opportunity to 104.50.
  • #6,984
  • May 21, 2008 11:57pm May 21, 2008 11:57pm
Quoting MackS10
Long opportunity to 104.50.
104.5 ?
On the 4H:
Has to pass the 5sma
has to break the upper TL
Has to break the 200sma
Has to break the 4H Gann, which usually takes a few pops.
Daily Pivot is at 103.21
103.47 is R1
10391 is R2
Weekly Pivot at 104.05

LOTS o stuff to break through there for 104.5
  • #6,985
  • May 21, 2008 11:58pm May 21, 2008 11:58pm
Quoting MackS10
Long opportunity to 104.50.
damn, i have some shorts opened ....
  • #6,986
  • May 22, 2008 12:01am May 22, 2008 12:01am
I'm getting impression to go long on the /jpy crosses and short on the /usd pairs, or something like that, but my mind may change later.
  • #6,987
  • May 22, 2008 1:01am May 22, 2008 1:01am
Price 103.06
TP 105.00
SL 102.00
Attached Image (click to enlarge)
Click to Enlarge Name: uj_s23_5228.gif Size: 41 KB
  • #6,988
  • May 22, 2008 1:08am May 22, 2008 1:08am
I think we might get a nice pop in price if it breaks 103..

A comfortable break of that would prob be 103.40..

Dollar index is sitting on support which could mean pretty good upside for U/J
  • #6,989
  • May 22, 2008 1:18am May 22, 2008 1:18am
FYI...

EUR/AUD is a pretty good indicator for UJ

They move in oppisite directions. EUR/AUD broke 2 support lines which i thought were important. Is now heading lower even while UJ is steady..

BUT things can change quickly in FX if E/A breaks up again then then that changes my view.
  • #6,990
  • May 22, 2008 4:45am May 22, 2008 4:45am
Sticking with the plan.

USD/YEN

short x 2 @ 103.28
short again x 1 @ 103.43

went up to 103.47 before dropping back down

sold at 103.18, now 103.23

10pips+25pips
  • #6,991
  • May 22, 2008 5:45am May 22, 2008 5:45am
waiting on confirmation to sell the pair by the end of the hour or the next one.
DISCIPLINE IS THE KEY TO SUCCESS!!!:nerd:
  • #6,992
  • May 22, 2008 5:48am May 22, 2008 5:48am
Quoting naOki
Sticking with the plan.

USD/YEN

short x 2 @ 103.28
short again x 1 @ 103.43

went up to 103.47 before dropping back down

sold at 103.18, now 103.23

10pips+25pips
A Link To Start On US Dollar Index

http://quotes.ino.com/chart/?s=NYBOT_DX&v=s&w=5&t=l&a=2

The support is at 102.60 and I see the high this session on my FXCM platform is 103.48 and next resistance above that is 103.65

Now on to some US Data coming out at 8:30 AM
New Jobless Claims last was 371,000 and Consensus is 370,000

Oil is still going up and the DJ Futures are flat at the moment. I see EUR/JPY is near it's top of 162.99 at 162.75

Now I will catch up on my email and be aware that this period before US Data usually sees some movement as the main North America Players are not yet in their offices. Be aware be alert and be ready for today.


Bruce
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  • #6,993
  • May 22, 2008 5:51am May 22, 2008 5:51am
Quoting Warren Forex
A Link To Start On US Dollar Index

http://quotes.ino.com/chart/?s=NYBOT_DX&v=s&w=5&t=l&a=2

The support is at 102.60 and I see the high this session on my FXCM platform is 103.48 and next resistance above that is 103.65

Now on to some US Data coming out at 8:30 AM
New Jobless Claims last was 371,000 and Consensus is 370,000

Oil is still going up and the DJ Futures are flat at the moment. I see EUR/JPY is near it's top of 162.99 at 162.75

Now I will catch up on my email and be aware that this period before US Data usually sees some movement as the main North America Players are not yet in their offices. Be aware be alert and be ready for today.


Bruce


http://www.actionforex.com/latest-ne...2008052146752/


Bruce
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  • #6,994
  • May 22, 2008 6:39am May 22, 2008 6:39am
Dusting off the crystal ball, I'm feeling bullish today. I think we'll have a pullback then up from there. So I guess that would mean that I'm expecting positive U.S. news this morning.

Just a hunch, nothing that I would recommend trading on. I won't be able to trade the news release this morning due to another commitment, so good luck to all.

Ron.
  • #6,995
  • May 22, 2008 6:40am May 22, 2008 6:40am
11:18 GMT May 22nd USD/JPY: Dropped through its 102.96 New York base and through bids at 102.80 to post a new recent low at 102.73 in Asia. Higher oil, fears over US economy and heavy stock market weakness all combining to hit the pair. DoW closed down 227 and the Nikkei was down over 250pts at one stage in early Asia. However, the strong Nikkei recovery (eventually closed up 52pts), helped USD/JPY back through 103.00 to highs at 103.19 in early London (Asian high). US names then hit the market back to 103.00, but fresh demand eventually erased 103.20 offers and took the pair out to 103.48, prior to setback consolidation in the 103.20-40 zone. Speculation rife that Japanese government controlled pension funds will be switching out of bonds and into stocks and this allegedly aiding today"s Nikkei recovery and should help to shore up USD/JPY"s downside ahead of any official confirmation. Dow Futures trading small in the black in London. A fair size 103.00 vanilla expiry may draw into 10am New York cut. More bids cited in the 102.70-80 region, then 102.55-102.40. Stops in the mix at 102.60-50 and 102.35. Large 102.50 barrier will also play its part. RP*
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  • #6,996
  • May 22, 2008 7:39am May 22, 2008 7:39am
Better than expected Initial Jobless Claims
365

bought @ 103.28
sold @ 103.58

30 pips!

now 103.45
  • #6,997
  • May 22, 2008 7:45am May 22, 2008 7:45am
Quoting naOki
Better than expected Initial Jobless Claims
365

bought @ 103.28
sold @ 103.58

30 pips!

now 103.45
It did not break resistance at 103.65 as I show 103.642

It still might but I see it heading down but never a guarantee on that. If you short it here use Stop 20 Pips above. 103.75 Stop

Bruce
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  • #6,998
  • May 22, 2008 7:56am May 22, 2008 7:56am
Quoting Warren Forex
It did not break resistance at 103.65 as I show 103.642

It still might but I see it heading down but never a guarantee on that. If you short it here use Stop 20 Pips above. 103.75 Stop

Bruce
Thanks!

2 yr bond yield 2.520%
Oil 134.55
Gold 925.00
Dow futures +1

I have a feeling that the DOW are ready to temporarily rebound due to the better than expected data so it might break through 103.65 once the market opens so I wont short now.

I will see how the market opens first, then short it.
  • #6,999
  • May 22, 2008 7:59am May 22, 2008 7:59am
Quoting Warren Forex
It did not break resistance at 103.65 as I show 103.642

It still might but I see it heading down but never a guarantee on that. If you short it here use Stop 20 Pips above. 103.75 Stop

Bruce


http://www.ino.com/


Bruce
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  • #7,000
  • May 22, 2008 8:01am May 22, 2008 8:01am
Waren,

Thanks for your posts . keep up the good work.

I wanted to ask you. where could I get for free quotes of the 2 year bond yield (as Naoiki posted : 2 y bond yield 2.520%).

Txs.

tennisguy
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