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USD/JPY Discussion

  • #7,801
  • Jun 11, 2008 7:18am Jun 11, 2008 7:18am
but looks like dollar is getting weaker,,, is it temporary effect? 107.25 now
  • #7,802
  • Jun 11, 2008 7:25am Jun 11, 2008 7:25am
Quoting sheraz
but looks like dollar is getting weaker,,, is it temporary effect? 107.25 now
Oil is already trading almost $2 higher then yesterday, ahead of oil inventory reports. That's why the dollar is weakening right now.
  • #7,803
  • Jun 11, 2008 7:36am Jun 11, 2008 7:36am
As per the forcast,,, there is low demand of oil,,, and and Oil Inventories are higher,,, so oil prices should drop down,,, dollar will become more stronger,,, and USD/JPY is expected to go higher aswell..
  • #7,804
  • Jun 11, 2008 8:14am Jun 11, 2008 8:14am
Quoting sheraz
As per the forcast,,, there is low demand of oil,,, and and Oil Inventories are higher,,, so oil prices should drop down,,, dollar will become more stronger,,, and USD/JPY is expected to go higher aswell..
why the oil demand is lower? bcz us economy is poorer,so will it be a strong us$?
  • #7,805
  • Jun 11, 2008 8:33am Jun 11, 2008 8:33am
Quoting moneybookers
why the oil demand is lower? bcz us economy is poorer,so will it be a strong us$?
High prices = lower demand. But right now, it appears that investors are banking on oil inventories being lower then forecast again.
  • #7,806
  • Jun 11, 2008 9:09am Jun 11, 2008 9:09am
Quote
High prices = lower demand.

I'd say, not necessarily.
  • #7,807
  • Jun 11, 2008 9:30am Jun 11, 2008 9:30am
If it continues to drop another 100 pips, this would be good ...
  • #7,808
  • Jun 11, 2008 9:40am Jun 11, 2008 9:40am
Quoting Schminner
If it continues to drop another 100 pips, this would be good ...

yes plz,,,,,, if it drop 100 pips more i'll earn over $2000

im sure this will go down,,,, oil inventories are -4.6M

Market is pause right now,,,

looks like everything having tea....
  • #7,809
  • Jun 11, 2008 10:30am Jun 11, 2008 10:30am
Quoting fxterrapin
I'd say, not necessarily.
So you saying to ignore the fact that people are curbing their gas useage? That people aren't carpooling more, taking public transport more, making plans to travel less, doing what they can to save heating oil, etc? Because they are and that's clearly due to the price of gas/oil. High prices are lessening demand. Not to the extent where prices are going to get driven down, but we're approaching that equilibrium point.
  • #7,810
  • Jun 11, 2008 10:39am Jun 11, 2008 10:39am
Looks like 106.57 may be key short term support. If this level holds, we may see another test at 107.00.
  • #7,811
  • Jun 11, 2008 10:48am Jun 11, 2008 10:48am
Quoting thegunslinger
So you saying to ignore the fact that people are curbing their gas useage? That people aren't carpooling more, taking public transport more, making plans to travel less, doing what they can to save heating oil, etc? Because they are and that's clearly due to the price of gas/oil. High prices are lessening demand. Not to the extent where prices are going to get driven down, but we're approaching that equilibrium point.
I'm curbing my gas usage so that I can put more into Forex ...
  • #7,812
  • Jun 11, 2008 10:48am Jun 11, 2008 10:48am
Quoting thegunslinger
Not to the extent where prices are going to get driven down, but we're approaching that equilibrium point.
That's why I said, not necessarily. And who is to say that the price of oil is driven fundamentally, anyway at this point. The IMF predicting $150 oil certainly isn't helping things, is it. And don't forget the expansion (of perception of such) in developing countries is still taking place!
  • #7,813
  • Jun 11, 2008 10:56am Jun 11, 2008 10:56am
Quoting fxterrapin
And don't forget the expansion (of perception of such) in developing countries is still taking place!
It's not just taking place - it's accelerating! China, Russia, India are all constantly increasing oil consumption. In Russia, for example, if you want to buy a new car priced under $30'000 you will have to register with the dealer and wait between 2 and 9 months - the inventories can't keep up with demand. Mitsubishi is projecting Russia to become its largest market in 2 years.

Ford, Toyota, Volkswagen, GM, Huindai, Daewoo, Renault, Nissan, Volvo are building or have already built plants in Russia, and market is still too far away from saturation (total car sales grow by more than 100% a year)

****

FxApasionado, nice prediction of the 38.2 fib retracement!
"Luxury is one of the basic needs", (c), Don Corleone
  • #7,814
  • Jun 11, 2008 11:19am Jun 11, 2008 11:19am
106,55 seems to be a great support...i'm long for the 109.80...
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  • #7,815
  • Edited 7:08pm Jun 11, 2008 11:21am | Edited 7:08pm
Quoting Firstboss


FxApasionado, nice prediction of the 38.2 fib retracement!
Actually it was more the following monthly fib expansion. The one FxApasionado drew came in a bit lower.
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  • #7,816
  • Jun 11, 2008 11:25am Jun 11, 2008 11:25am
Quoting akiva1234
106,55 seems to be a great support...i'm long for the 109.80...
Yup, posted the same one
  • #7,817
  • Jun 11, 2008 12:56pm Jun 11, 2008 12:56pm
Quoting fxterrapin
Yup, posted the same one


Waiting for a break back above 107.30 for a bull signal to 109.50ish

Or a decline to 106.20ish for a possible long if it finds support. That is if it doesn't blow throught it
in a hour or two it will prob hold.

Strong resistance will come into play at 107.30 which is the london break lower. That is for the current move up.
If it corrects to 106 then breaking 107.30 will be no problem.
  • #7,818
  • Jun 11, 2008 1:34pm Jun 11, 2008 1:34pm
I had a challenge yesterday by Warren/Bruce in which I wasn't going to take him up on his offer but last night I thought maybe I should accommodate him in at least a 24 hour period and that would be the end of it...... Attached is a new demo account I had opened at 00:10 ET this morning in that period I accumulated $4,778.50....... I also accumulated this amount in my LIVE account as I was running it with the demo plus 78 more pips on the usd/jpy with a 100 lots on that trade also which gives me more than 100% profit.

The reason the usd/jpy wasn't on the demo is because of the margin, other than that, it too would had been on there.


Good Luck and God bless,
The Dove
Attached File(s)
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The Dove - Forex Trainer
  • #7,819
  • Jun 11, 2008 1:38pm Jun 11, 2008 1:38pm
Impressive result, Dove!

So, is EUR/USD your favorite pair now? I haven't spent enough effort on it, but from what I have observed so far EUR shows less respect for the pivots and more for the fib levels, doesn't it?
"Luxury is one of the basic needs", (c), Don Corleone
  • #7,820
  • Jun 11, 2008 1:42pm Jun 11, 2008 1:42pm
Ding, Ding, and here's round 3.
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