USD/JPY Discussion

It's an interesting tool. Thanks for sharing.

Interesting...... Target hit at the R1


Not to mention my target on the short with the EUR

Anyone can come on this forum and talk like they know what they are doing and it never fails to amaze me how wrong they are 90% of the time...... The trend is up and that is the way it travel ...... Along with the pivots, it gives me a target to take the profit....... I have been working the pivots and trends for over 3 years and it constantly keeps me in profit....... I never listen to those who THINK they know what this market is doing because no one knows what the market will do for one moment to the next....... But trends and pivots will always give you the advantage of going the direction it is traveling.......

I'm going to say for the next 2 - 3 months trends will be shot all to hell because of the garbage that is been happening within the economy of the world..... Ranging from the highs and lows of the daily and then scalping is pretty much going to be the route...... This time last year it was the curry traders and now this year we got the oil to mess with...... The announcements this morning with the EUR really did some spiking in which was surprising...... I was just happy to be in the right trade. This may be something to look forward too in the future....... I remember a time when the announcements would move this market 100 pips or more in just heart a beat...... smiling...... Those were the days.

True.

Dove,

Just curious, how did your March go? That was the most action in U/J since last August (almost a mirror image of it).

I agree on the ranging prediction for the next few months.

In March I was busy with other things.....But what trading I did do I done well.......

You are full of yourself I never said it would'nt go up I said upside is limited we are on our way down LOWER HIGHS HIGHER LOWS. I will say you are right when we hit 108.20 because that would indicate the end of lower lows then the almighty dove can say I told you so until then watch and learn. I have 3 postions from 108.3 and 2 from 108.00 we will see 105.50ish before 110.

http://www.forexfactory.com/customav...tar42106_1.gif ak47dan2004 http://www.forexfactory.com/images/s...ser_online.gif
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Member Since Jun 2007
Posts: 57


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I think we will see more downside actionas long as we don't get a candle close above 107.58 I am looking at 106.50 as the low at least by U.S. open.

(I beleive that is what you said........)

LIMITED UPSIDE so tell me what will we see first 105 or 110 Like I said when it goes to 108.20 you will be the winner this is just a series of lower highs.

I didn't come on this thread to argue with people...... I came on to give my expertise in pivots and trends........ If i didn't know what I was talking about it then would be a different story....... When I call a shot I always give the explanation of why and It eventually does what I call it to be....... I need not say any more

cool

probably we ll se 110 why not check out my chat..

Yup you never know this market is unpredictable

I wish people would stop with all the ego stuff and concentrate on sharing their opinions without personal attacks.
I personaly don`t care if my predictions are wrong or right, i just care about making profit.

In order to follow along with your suggestion here is a Copy and Paste that I just posted on my home thread, "Knowledge Is Power"

It is on topic and relates to USD/JPY.

Here it is for all of US !!!

Copy and Paste:

http://www.forexfactory.com/images/s...n/post_new.gif Today 5:52am
Warren Forex http://www.forexfactory.com/images/s...ser_online.gif
Warrenforex
Member Since Sep 2006
Posts: 964


http://www.forexfactory.com/images/icons/icon14.gif Good Morning Everyone ! Big Week Of Trading Ahead !
From WWW.SAXOBANK.COM

Here is an excellent summary to start the week off and to be aware of coming events that surely will drive the markets.

Copy and Paste:

Published: Jun. 23 2008, 07:46 GMT
German IFO out shortly as EURUSD falls through initial support. Focus of the week is Wednesday's FOMC announcement.

Key US confidence and housing data also on tap for this week.




MAJOR HEADLINES – PREVIOUS SESSION

1. UK Rightmove House Prices fell -1.2% MoM vs. +1.2% in May and rose 0.1% YoY vs. +2.2% in May
2. Japan Q2 BSI All Industry Business Conditions survey out at -15.2 vs. -9.3 in Q1
3. France Jun. Preliminary PMI Manufacturing out at 49.2 vs. 51.0 expected
4. France Jun. Preliminary PMI Services out at 49.2 vs. 50.89 expected
5. Germany Jun. Preliminary PMI Manufacturing out at 52.3 vs. 53.2 expected
6. Germany Jun. Preliminary PMI Services out at 53.3 vs. 53.1 expected

THEMES TO WATCH – UPCOMING SESSION


Key Risk Events (All times in GMT)

1. Germany Jun. IFO (0800)

Market Comments
The USD finished last week on a weakish note after failing to hold the highs posted on the previous Friday. To review, the most significant disappointment for the USD was the commentary from the major financial newspapers citing sources close to Bernanke. These sources indicated that the Fed chairman was uncomfortable with the degree to which the market was projecting imminent tightening from the Fed. This makes this Wednesday's FOMC rate announcement and accompanying monetary policy statement the obvious highlight of the week. The policy statement is likely to ratchet up the inflation rhetoric, but keeping Bernanke's indirect communications to the market in mind, it is apparent that growth worries are still so prominent that the Fed will likely indicate that it wants to wait as long as possible before taking any action.
Other US data this week will likely confirm the still moribund state of the housing market, with the CaseShiller Home Price data for April tomorrow, New Home Sales on Wednesday and Existing Home Sales on Thursday. We'll also see the Conference Board Consumer Confidence number tomorrow as well as the weekly ABC Confidence number and the final Michigan Confidence reading for June on Friday. The weekly confidence numbers have eased from their lows recently. One wonders what could be driving confidence higher. It certainly wouldn't appear to be gasoline prices or the employment situation. One reason for an uptick in confidence could be the end of the drawn out Democratic presidential nomination primaries. In fact, there may be a strong psychological effect of the presidential cycle kicking in soon, as the prospect for a change of the nation's leader inevitably has large consequences, especially when the outgoing leader is the least popular president in the history of the country. Looking at the history of the performance of the incumbent party when the economy is weak (we think especially of Jimmy Carter but also George Bush Sr.), it looks like this election is Obama's to lose.
The Euro is losing some steam this morning after the preliminary PMI data for France is registering contracting levels below 50 vs. expectations just above 50. The equivalent German data was still above the 50 mark and largely in line with expectations. Coming hot on the heels of this data will the important German IFO survey out shortly, which the market reacted strongly to in April and May. It's tough to imagine it coming out stronger than expected. But how much will EURUSD move around ahead of the Wednesday Fed announcement....
The BOE's Sentance is out this morning with negative views on UK growth and saying that it will help offset inflation pressure and saying that CPI hasn't fed into pay demands "noticeably". Is it time to sell GBPUSD again soon?
Canada April Retail Sales released Friday were far stronger than expected, but CAD failed to get much of a boost of this data, one of the reasons probably being that this is one of the tardiest releases of any major economic data release - we already had May Retail data from the US almost two weeks ago, for example. USDCAD seems to be trying to make a stand in the 1.0120 area, which now likely guards the gates for a test of parity.
Again, we think that JPY crosses are mispriced on the inflation hysteria and think that they need to move more in alignment with equity markets - i.e., south. Could Wednesday's FOMC announcement act as an important pivot point for these crosses as well? It feels like this will be an action-packed week.

Comments from Bruce:

Fundamentals clearly move the market while Technicals which no one should be unaware of is the psychology in the market at that exact instance. It is made up of the present PERCEPTION of the majority which does not mean the REALITY. The moment a NEW Fundamental fact comes out that is substantially different from the PERCEPTION, the Markets and the Charts change again. It is as simple as that. Learn and accept that and for sure your profits will increase.

I welcome any comments or questions. We can agree or disagree but the Market is always right. Just know when changes are about to perhaps take place and then trade accordingly using risk management and money management along with other learned strategies. Some traders can make money using the technicals at times but the true mark of a professional FX trader is to use it all. As I have said in other posts. Using FTP gives you a better chance than most to be a consistent and successful FX trader.

FTP is Fundamentals + Technicals + Perception !

Good Trading Week For All !!!


Bruce
Last edited by Warren Forex, Today 6:04am Reason: To Add Comments !

hi dove. many thanks for your frequent posts on pivots and trends. i am a newbie trader and it certainly has helped me a lot.

the weekly pivot is at 107.67 and the price congested at that point before convincingly breaking up... think this week will probably be kinda bullish...

Here we go - playing ping/pong again!
This pair has got so booooooring lately

better... making money in forex has to be boring