USD/JPY Discussion

Lol, that came out wrong!

I'm just saying that I take all the lessons you taught over the year and apply them with my primary analysis..STILL!

Adrian

If it sinks, it should sink now or within the next hour. We should break a new hourly low..from there it's up in the air atm.

OK - smiling........ I remember you had some good feed back from your analysis so that is what I was referring too.......

I still got the pivot looking good so as you said, time will tell........

That's for sure, and I thought it may have been my internet connection ...

Even if it rises past the current hourly high..we still have the R1 for resistance. I believe the Weekly R1 is sitting there also and price turned around at it.

Dove...do you calculate your daily pivots based on HLC of sessions or some specific GMT time?

Thanks...

I believe it's waiting for the European Session.

We still got the eur and the pound on the down side keeping the yen up.......

That is correct...... The weekly is at the 63 and the daily at the 60.....

Pivots are calculated at 17:00 ET every day and on Sundays it is done differently in which I will get into towards end of the week....... and yes, HLC.

The first EUR announcement isn't until 02:45 ET and that is a long wait for this market to move.

Since I stopped going short USD/JPY, I have been able to improve my win/loss ratio. Just looking at the chart, I wait for a retracement, and go long with a narrow stop. That is what I have been doing for the past weeks. It works.

Good, I'm glad it works for you. The current daily trend is up, but a reversal seems eminent. You might have to reverse your thoughts on that soon.

Yen Outlook
04:44 GMT June 12th USD/JPY traded higher today on general USD strength. Various factors were cited, some spurious but others more believable. These included talk of oil production increases by Saudi Arabia, a stronger retail sales report tonight, a monster Citigroup samurai launch, repatriation of offshore assets by a troubled US financial firm, Asian central bank USD buys against a number of units and USD-favorable M&A flows. USD/JPY rose from 106.79 through 107.00 to 107.39 before steadying. JPY crosses put in a mixed performance with EUR/JPY, GBP/JPY and NZD/JPY in consolidation mode. EUR/JPY traded between 165.94-166.42 with the bias down a bit on EUR/USD weakness but well within the parameters set Monday. GBP/JPY traded a relatively tight 209.72- 210.28 range as did NZD/JPY between 80.68-81.02. AUD/JPY took a hit after very weak jobs data, falling from 101.38to 100.54. The pair continues to see some support from Japanese retail demand but Aussie interest rate expectations have taken a hit. Uridashi, investment trust and samurai issuance remains high. Citi launched a monster Y186.5 bln issue today. [email protected]

Good to see you back Dove....hope all is well for you....Bill

http://www.financialsense.com/fsu/ed...2008/0611.html

Just my sense of humor. The Link above contains information that no trader should dare ignore.

I could not sleep so I kept working.

Snippet:

Helicopter Ben Bernanke has continued his adventures into the policy of the unknown and the unlimited moral hazard he began when elevated to Chairman of the Federal Reserve. He threw the Federal Reserve on the systemic G7 financial bomb known as Bear Stearns, tipping his hand to the coming socialization of risks of the G7 banking system. This week he stepped over the line again, taking on the role of the US Treasury Secretary, and blew HOT AIR at the dollar exchange market. Pinocchio George and Hank Paulson could no longer be believed when they spoke of a strong dollar policy, so they brought in a new big gun: Helicopter Ben. He is next in line to destroy his personal credibility. Unfortunately for us all, as Big Ben goes so does the credibility of the central bank of the world’s reserve currency--the Federal Reserve. No sooner did he jolt the currency and bond markets with hawkish “hot air” then he turns around the very next day and revs up the printing press by doing a system repo of $27 billion dollars to goose the markets—a complete and total contradiction to his RHETORIC.
Remember what I have told you: never look at the headlines or their words as they are empty FOOL’S gold. Look at their actions for the real story. An epidemic of illusions are now the only thing most investors have to work with. Truth has succumbed to political expediency in an election year, as it always does. Anyone that takes the time to look at economic reports coming out of G7 governments knows the decision has been made to NEVER give you a clear picture of what’s being reported in the headline numbers, which is what the mainstream financial press splash in front of you. Unemployment numbers, inflation, retail sales, GDP —you name it. All are misleading, to say the least, or outright lies after careful examination.
Decades of de-industrialization, destruction of industry and wealth creation has now deposited us where are now: inflationary recession known as stagflation. The truth of the economies of the G7 is inconveniently terrible and so it is politically incorrect, so politically correct ones are substituted in their place. Public servants seeking reelection see to it that the MASSES never know the truth.

Snippet:

Ben’s rhetoric distracted from the ratings downgrades of the dead men walking zombies known as the monoline insurers: Ambac and MBIA. These firms are completely bankrupt, only we haven’t been told yet as politically correct regulators fan the flames of the unfolding insolvency of the G7 banking sectors. Those downgrades mean approximately $100 billion dollars of fresh losses for the major money center and investment banks. I believe insolvency is the correct term for the following firms: General Motors, GMAC, MBIA, Ambac, Lehman brothers, Fannie Mae, Sallie Mae and Freddie Mac to name a few (MORE TO FOLLOW). Citigroup, UBS and JP Morgan Chase are also in bad straits but will NEVER be allowed to fail. Public servants, bought and paid for with political contributions, will do whatever is necessary to underpin these entities. Do you know how much MONEY will have to be printed to rescue them? It is an unimaginable amount. As the founder of the Rothschild banking empire so clearly said:
"Let me issue and control a nation's money supply and I care not who makes its laws."
-- Mayer Amschel Rothschild, Founder of Rothschild Banking Dynasty
The Federal Reserve is owned by foreign bankers, and of course we can see this today as Wall Street and the money center banks are RARELY held to the rule of law or current regulation. They routinely IGNORE them on their road to FLEECING YOU! They are never held to account. They are just BAILED out by you, me and the taxpayers who are their regular prey. So it’s hi-ho, hi-ho off to the printing press we will go…

Hello Bill - Good to see you...... I'm little surprise to see a lot traders still around after a year or so.... But that is good.... means a lot of you are doing well in the market.......

Do you expect people to "die" within a year (blowing up their account) and give up forex trading?

Doing very good here....and this will be a life time event for me!! much better than my 21 years of active duty...lol....so looking forward to you here...trading the euro also and have done well...but still love my dollar/yen...have a great evening my friend...blessings...