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USD/JPY Discussion

  • #8,161
  • Jun 13, 2008 1:50am Jun 13, 2008 1:50am
im short 108
To Live is the rarest thing in the world , Most people exist , that is all
  • #8,162
  • Jun 13, 2008 1:55am Jun 13, 2008 1:55am
Quoting dove_alliance
]
Here something that will help you........ Focus on the trend and not the candles...... You will notice on my attachment that there were no sell trades.... all of them were in the long and because the daily trend is still up..... Also, another currency that runs with the usd/jpy is the eur/jpy and they both run together...... If you have doubts about where this pair is going then take a look at the eur/jpy and it will tell you the story......
The EUR/JPY is currently suck in place, while USD/JPY continues to climb. They don't necessarily run together as the USD/JPY carry has suffered much more in the last few months, due to general USD weakness.
  • #8,163
  • Jun 13, 2008 2:05am Jun 13, 2008 2:05am
Quoting maheswara
im short 108
you'll know your not alone when price keeps going up...

The more go short the more it gos up. Its when more traders
are more long then short is when it starts to come down...Gl

IOW. Picking tops is a loosing game. Just ask WarrenFX
  • #8,164
  • Jun 13, 2008 2:07am Jun 13, 2008 2:07am
It looks like it has a confirmed uptrend going.
Shouldn't it go up to the 108.3x range and touch the pivot?
  • #8,165
  • Jun 13, 2008 2:11am Jun 13, 2008 2:11am
short too...108..
bring down the house. lol
  • #8,166
  • Jun 13, 2008 2:12am Jun 13, 2008 2:12am
Quoting dwildes
It looks like it has a confirmed uptrend going.
Shouldn't it go up to the 108.3x range and touch the pivot?
R1 108.36.
  • #8,167
  • Jun 13, 2008 2:35am Jun 13, 2008 2:35am
hmm.... usd strengten ,,,, +236 pips,,, niceee.....
  • #8,168
  • Jun 13, 2008 3:11am Jun 13, 2008 3:11am
I did not know about checking 13ema on the 15 min chart, but instead I always check the tenkan and kijyun line of Ichimoku to find a support line after a price breakout. The pair sometimes bounces off when it gets to the center line of BB on the 5 min chart if the momemtum is strong. But I would feel more comfortable trading on the 15 min chart.

I like to use Ichimoku on this pair and other Yen crosses. Ichimoku works quite well with USD/JPY.

Quoting pipmac
Yes. ONe way to do this is to draw the 13EMA on the 15m Time frame and buy everytime it dips to the EMA. But only duing the first 3-4 hours of a session.
  • #8,169
  • Jun 13, 2008 3:21am Jun 13, 2008 3:21am
Nobody knows when this bull trend ceases. But do not worry. I am playing this game with a tight stop. I am only trying to get 5-10 pips, sometimes 20 pips or more if I were lucky for one trade. I never go to bed with open positions as I am not brave enough to do so.

Quoting Spectator
It's called a bull trap . Seriously, whilst the trend is clearly up for the time being, I will be surprised if this is not down a lot by the end of Autumn.
  • #8,170
  • Jun 13, 2008 3:26am Jun 13, 2008 3:26am
Ah.. Dana.. looks like you're back posting...

Hope all is going well...

Quoting dove_alliance
You got that right........
Chances favour the prepared.
  • #8,171
  • Jun 13, 2008 3:28am Jun 13, 2008 3:28am
Quoting naminori
I did not know about checking 13ema on the 15 min chart, but instead I always check the tenkan and kijyun line of Ichimoku to find a support line after a price breakout. The pair sometimes bounces off when it gets to the center line of BB on the 5 min chart if the momemtum is strong. But I would feel more comfortable trading on the 15 min chart.

I like to use Ichimoku on this pair and other Yen crosses. Ichimoku works quite well with USD/JPY.
I'm not familiar with Ichimoku but the 13EMA has worked well today.

later later GL.
  • #8,172
  • Jun 13, 2008 3:31am Jun 13, 2008 3:31am
Buy stop 108.60 s/l 107.60
1t/p 110
2t/p 112
  • #8,173
  • Jun 13, 2008 3:43am Jun 13, 2008 3:43am
i have 2 sell @ 108.03
  • #8,174
  • Jun 13, 2008 3:56am Jun 13, 2008 3:56am
Quoting persian.forex
i have 2 sell @ 108.03
Hmmmm - looks like all the money you spent for training didn't help if you enter 2 sells....... 108.41 is the traget
The Dove - Forex Trainer
  • #8,175
  • Jun 13, 2008 4:05am Jun 13, 2008 4:05am
Quoting fxterrapin
Up-trend? But in what context? Whether or not the USD/JPY bullishness is a continuation of the larger term bull trend, or simply a retracement within a larger down trend is hard to tell.

When I read some of the predictions on the USD/JPY I tend to think of the role of Elliot wave theory. Remember, when everybody is claiming that the trend will continue and that one would be foolish not to jump onto the bandwagon, that's when it's usually already too late to join the party.
Personally, for fundamental reason, I think this is a retracement that could last a few months...depends how much bs coming out of the US the world is willing to believe and when the next bank gets into deep doo doo. Will be very, very shocked if it goes much over 112...(actually, it shouldn't go over 109, but as Keynes said, the markets can remain irrational longer than you can stay solvent...a lesson which I have sadly had to learn out of my own pocket on a couple of occasions...which reminds me of a story I heard that Keynes was once seen measuring up Kings College chapel to see whether he would be able to use it to take delivery of a grain forward contract he was having trouble unwinding...for those of you who haven't seen the chapel, it is beautiful and cathedral sized.)

We've only begun to see the poison from the crazy credit binge in the Anglo economies...there will be much more flushed out as the recession starts to bite. Still, this observation is of little use for day to day trading.
  • #8,176
  • Jun 13, 2008 4:06am Jun 13, 2008 4:06am
Quoting jasonowl
Ah.. Dana.. looks like you're back posting...

Hope all is going well...
Hello Jason - I checked in on the other thread and you was the last one posted and no one there......
The Dove - Forex Trainer
  • #8,177
  • Jun 13, 2008 4:13am Jun 13, 2008 4:13am
Everyone keeps talking about overbought....... If you take a slow_k with the settings of 20,5,5, and place it only on the 1 hour chart it may help you with the overage.......
The Dove - Forex Trainer
  • #8,178
  • Jun 13, 2008 4:31am Jun 13, 2008 4:31am
So far this week the dollar took the eur for over 500 pips......
The Dove - Forex Trainer
  • #8,179
  • Jun 13, 2008 4:46am Jun 13, 2008 4:46am
Well - I went ahead and close my long on this pair ..... Hate to be in at 08:30 ET....... smiling ....... all kinds of fun about then.
The Dove - Forex Trainer
  • #8,180
  • Jun 13, 2008 4:50am Jun 13, 2008 4:50am
Someone In Europe will please explain this "Lisbon Treaty Vote"....... I'm curious as to what affect it has on the currency......
The Dove - Forex Trainer
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