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USD/JPY Discussion

  • #9,421
  • Jun 27, 2008 5:43am Jun 27, 2008 5:43am
Anyone agree if the dow doest dive today that trend line could very well hold up?
  • #9,422
  • Jun 27, 2008 5:45am Jun 27, 2008 5:45am
Quoting Newb>Trader
Anyone agree if the dow doest dive today that trend line could very well hold up?
If the numbers are right at 08:30 then yes........
The Dove - Forex Trainer
  • #9,423
  • Jun 27, 2008 5:48am Jun 27, 2008 5:48am
Quoting steelhead
fair enough. I do have a hidden agenda. and it is this


If the Sonics are really leaving Seattle can they take the Mariners with them?

the city of Seattle will drop all there lawsuits against Sonics owner Clay Bennett if he takes the Mariners to OKC with him.


That is my hidden agenda. Am i accomplishing that?
I would Love To have enough money to build a Major League Baseball Stadium here in Montreal and have the Expos return. My Dear Departed from Earth only Mom loved watching the Expos and that was the only sport she loved.

G-D Bless her Soul and Her Memory !

Your Son !


Bruce

My Dad died, September 8, 1981 at 66 ...He was born on June 25, 1914 and would have been 93, Two Days ago. Thank G-D He never left me and I think of him everyday that I use my middle name "Warren"

He gave me that name !

He also taught me about RESPECT !!!
{Promotion Removed}
  • #9,424
  • Jun 27, 2008 5:52am Jun 27, 2008 5:52am
I think maybe it's about time to start looking at strategy to end the day instead of pumping ego .........
The Dove - Forex Trainer
  • #9,425
  • Jun 27, 2008 5:54am Jun 27, 2008 5:54am
Quoting TheDirtySerb
I'll short all the way to 105.60 ish. I'll have to decide if we'll make it all the way down there, but right now its looking good. Seems like there is a lot of good support down there. I'll add to my short if we go up to 106.65 area again.
I sure hope you had consider the USD open before going short......
The Dove - Forex Trainer
  • #9,426
  • Jun 27, 2008 5:58am Jun 27, 2008 5:58am
We have the Central Pivot at the 106.80 and at 08:30 there is a possibility that resistance will be blown wide open.
The Dove - Forex Trainer
  • #9,427
  • Jun 27, 2008 5:59am Jun 27, 2008 5:59am
This is Friday and I really don't believe the dollar will go down........ Now, I could be wrong ....... So don't quote me....... smiling.
The Dove - Forex Trainer
  • #9,428
  • Jun 27, 2008 6:04am Jun 27, 2008 6:04am
I went short on break of 106.60 thinking it was a good support level. My S/L is set to break even right now so no harm if it gets hit. But I think there should be some good resistance around there right now going into the open. We'll see.

Quoting dove_alliance
I sure hope you had consider the USD open before going short......
  • #9,429
  • Jun 27, 2008 6:24am Jun 27, 2008 6:24am
Quoting TheDirtySerb
I went short on break of 106.60 thinking it was a good support level. My S/L is set to break even right now so no harm if it gets hit. But I think there should be some good resistance around there right now going into the open. We'll see.
you may wanna lighten the load first. re-look after the news. Personally I dont chase breakouts much but if pullback occurs, i shall go short again.

You may wanna let it stretch before going again, watch the timing, if It goes all the way up till midday, just leave the small one in. 5 minute showing bullish consolidation. no impulse yet tho
  • #9,430
  • Jun 27, 2008 7:35am Jun 27, 2008 7:35am
I think my trendlines are a little different from the trendlines I've seen here. According to my charts the trend is still up. Lets see if the botton support of the channel holds
Attached Image (click to enlarge)
Click to Enlarge Name: my chart.jpg Size: 271 KB
For he that would be deceived, let him.
  • #9,431
  • Jun 27, 2008 7:42am Jun 27, 2008 7:42am
?
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #9,432
  • Jun 27, 2008 7:43am Jun 27, 2008 7:43am
Again...... according to my charts @ 105.60 area we have 2 major support lines the 50 SMA, the S2 and some fibbo and who nows what else acting like support. If it breaks...OH BOY !!!!!!!!!!
For he that would be deceived, let him.
  • #9,433
  • Jun 27, 2008 7:59am Jun 27, 2008 7:59am
Long term trend is still up. 50% retracement comes in around 105.65 and I think we still may see price around that level today or early next week. ISM and NFP next week so that may push the pair up or down. TBD. Then I will look for new direction. If I had to take a guess right now I would say we go back up. I think Trichet is full of it and the ECB will not raise rates. This will cause EURUSD to go down and USDJPY to go back up. Of course this is purely speculation so take it with a grain of salt.

Quoting pinchapip
I think my trendlines are a little different from the trendlines I've seen here. According to my charts the trend is still up. Lets see if the botton support of the channel holds
Attached Image (click to enlarge)
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  • #9,434
  • Jun 27, 2008 8:06am Jun 27, 2008 8:06am
Talking heads are always full of it. Pile it high and deep is their motto.
  • #9,435
  • Jun 27, 2008 10:38am Jun 27, 2008 10:38am
Hey we will take the Sonic's....and watch them rebuild...Seattle has forgotten about them over the years...but we don't have the fan base for the Mariners.....the city has spent just over $200 million dollars for the arrival of the Sonics....lets see if this pays off or will be a flop....time will tell almost like forex....time will tell if we are right or wrong in the life of forex..always good to be on the right side of the trade......so far really good here.....but that is the life of a scalper .....

Quoting steelhead
fair enough. I do have a hidden agenda. and it is this


If the Sonics are really leaving Seattle can they take the Mariners with them?

the city of Seattle will drop all there lawsuits against Sonics owner Clay Bennett if he takes the Mariners to OKC with him.


That is my hidden agenda. Am i accomplishing that?
  • #9,436
  • Jun 27, 2008 12:54pm Jun 27, 2008 12:54pm
Quoting TheDirtySerb
Long term trend is still up. 50% retracement comes in around 105.65 and I think we still may see price around that level today or early next week. ISM and NFP next week so that may push the pair up or down. TBD. Then I will look for new direction. If I had to take a guess right now I would say we go back up. I think Trichet is full of it and the ECB will not raise rates. This will cause EURUSD to go down and USDJPY to go back up. Of course this is purely speculation so take it with a grain of salt.
As I write this reply we could be observing a break on the long time acending channel. Lets see how it plays out.

Cheers.
Attached Image (click to enlarge)
Click to Enlarge Name: usd_jpy_h4_27_06_2008_channel_down_break_1.gif Size: 19 KB
  • #9,437
  • Jun 27, 2008 1:13pm Jun 27, 2008 1:13pm
We may see a pullback above 106.20 here. I see some divergence and dow making a slight comeback. I've closed short positions. Most likely will wait until next week for new trade ideas. Have a great weekend all.

Quoting jupiter_peak
As I write this reply we could be observing a break on the long time acending channel. Lets see how it plays out.

Cheers.
  • #9,438
  • Jun 27, 2008 7:55pm Jun 27, 2008 7:55pm
is it going to be reversal for eurjpy?im selling eurjpy at 169.40 and havent closed yet...next week will tell
  • #9,439
  • Jun 27, 2008 9:32pm Jun 27, 2008 9:32pm
Quoting c-note
sold yen at 106.90 and coverd at 106.49-thought it would stall at 106.43--looks like price is headed to 105.87
price did hit 105.87 level and had a small bounce--divergence between price and rsi on 2hr 1hr and 30 min time frames-could just be a continuation pattern-I look for price to re-test the low but since the market is closed that's just a guess -anything can happen over weekend. break past 105.87 then 105.45 support next. levels based on price action -not fibs. the major support for down side is 102.60 level
  • #9,440
  • Edited 10:21pm Jun 27, 2008 9:50pm | Edited 10:21pm
105.87 is also 200sma in H4. But the last two candles of H4 are both weakish. Also note that 105.82 is Kijyun-line of Ichimoku Kinko Hyo. If this support is broken, USD/JPY is headling lower decisively in my view. The majority of Japanese traders rely on Ichimoku as a technical analysis for USD/JPY and other Yen crosses. So watch out for breakout of this Kijyun-line on Monday morning. We often see contrarian traders in the Tokyo sessions, but I suspect it will not happen easily as usual next week given all the bad news coming out for the last few days and the coming important events from EU, etc.

Quoting c-note
price did hit 105.87 level and had a small bounce--divergence between price and rsi on 2hr 1hr and 30 min time frames-could just be a continuation pattern-I look for price to re-test the low but since the market is closed that's just a guess -anything can happen over weekend. break past 105.87 then 105.45 support next. levels based on price action -not fibs. the major support for down side is 102.60 level
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