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USD/JPY Discussion

  • #8,401
  • Jun 16, 2008 7:35pm Jun 16, 2008 7:35pm
Quoting pipmac
Tyvm.

Which pair is your focus for this and the London trading session?
Depending on the announcements during the London open if I trade the eur/usd or the eur/jpy
The Dove - Forex Trainer
  • #8,402
  • Jun 16, 2008 7:39pm Jun 16, 2008 7:39pm
I was looking at GY. It seems strong with good potential.

The chart below is how i will approach the coming sessions.
Attached Image (click to enlarge)
Click to Enlarge Name: gy.png Size: 21 KB
  • #8,403
  • Jun 16, 2008 7:43pm Jun 16, 2008 7:43pm
I am long @ 108.20, first target - 108.329, second - 108.489
"Luxury is one of the basic needs", (c), Don Corleone
  • #8,404
  • Jun 16, 2008 7:59pm Jun 16, 2008 7:59pm
Long here also and looking for smooth take profit at or 108.38-108.55 area.....

Quoting Firstboss
I am long @ 108.20, first target - 108.329, second - 108.489
  • #8,405
  • Jun 16, 2008 8:14pm Jun 16, 2008 8:14pm
But smooth sometimes isn't realitive.......thats why you go long on the euro....

Quoting Mrpipmaster
Long here also and looking for smooth take profit at or 108.38-108.55 area.....
  • #8,406
  • Jun 16, 2008 8:17pm Jun 16, 2008 8:17pm
firstboss: while you're targeting your 18 pips what kind of stop do you have?

Dove, what sort of stops do you normally use?
  • #8,407
  • Jun 16, 2008 8:18pm Jun 16, 2008 8:18pm
Is it safe to say the trend on USD/JPY is now down?

Luckily I dodged this bullet as I was playing the EUR/JPY. Since it is going up and the USD/JPY is going down, means the EUR is being bought?
  • #8,408
  • Jun 16, 2008 8:20pm Jun 16, 2008 8:20pm
OK - the mid at the 108.05 was hit and now lets see what it will do.......
The Dove - Forex Trainer
  • #8,409
  • Jun 16, 2008 8:21pm Jun 16, 2008 8:21pm
Quoting dwildes
Is it safe to say the trend on USD/JPY is now down?

Luckily I dodged this bullet as I was playing the EUR/JPY. Since it is going up and the USD/JPY is going down, means the EUR is being bought?
Yeah, EU went up 40+ pips and hit the weekly PP and stopped.

edit: Move now continuing...
  • #8,410
  • Jun 16, 2008 8:21pm Jun 16, 2008 8:21pm
Quoting dove_alliance
OK - the mid at the 108.05 was hit and now lets see what it will do.......
OK
Just went long on USD/JPY so hopefully that was good timing!
  • #8,411
  • Jun 16, 2008 8:22pm Jun 16, 2008 8:22pm
I think it's safe to say it's going down.
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #8,412
  • Jun 16, 2008 8:23pm Jun 16, 2008 8:23pm
Why did all the majors just spike? No news...
  • #8,413
  • Jun 16, 2008 8:24pm Jun 16, 2008 8:24pm
Asia in buying the Euro with news of increase in euro interest rates likely...pushing the dollar/yen down daily S1....lets see from here....
  • #8,414
  • Jun 16, 2008 8:27pm Jun 16, 2008 8:27pm
I said earlier that the pushdown is at the 108.05 and I'm still waiting for a verification of the movement in which it hit the S1 at the 88 and also busted the lower band which means one big retrace.
The Dove - Forex Trainer
  • #8,415
  • Jun 16, 2008 8:29pm Jun 16, 2008 8:29pm
Quoting dwildes
Is it safe to say the trend on USD/JPY is now down?

Luckily I dodged this bullet as I was playing the EUR/JPY. Since it is going up and the USD/JPY is going down, means the EUR is being bought?
The trend is still up......
The Dove - Forex Trainer
  • #8,416
  • Jun 16, 2008 8:32pm Jun 16, 2008 8:32pm
I would like to know what caused this move. Anyone know?
  • #8,417
  • Jun 16, 2008 8:35pm Jun 16, 2008 8:35pm
i took my 3 pip profit on the dollar/yen and entered the trade on the euro and riding a 42 pips of profit .......lets see were we go from here....

Quoting dove_alliance
I said earlier that the pushdown is at the 108.05 and I'm still waiting for a verification of the movement in which it hit the S1 at the 88 and also busted the lower band which means one big retrace.
  • #8,418
  • Jun 16, 2008 8:36pm Jun 16, 2008 8:36pm
Quoting southernmind
I would like to know what caused this move. Anyone know?
Yea, I know...... It was time for one of the major banks in Tokyo to make a trade and that is what happen........
The Dove - Forex Trainer
  • #8,419
  • Jun 16, 2008 8:36pm Jun 16, 2008 8:36pm
JPY Tertiary Industry Activity Index m/m

I think this is the cause....


Quoting southernmind
I would like to know what caused this move. Anyone know?
There is no bad decisions, its only didn't work out.
  • #8,420
  • Jun 16, 2008 8:37pm Jun 16, 2008 8:37pm
That changes everything, I don't see it making an upward trend to retrace that drop. Other players will follow and change it from a short term down trend to change the support to somewhere around 106.90-107.00.

I just don't see it.
"I spilled spot remover on my dog. He's gone now." - Steven Wright
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