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USD/JPY Discussion

  • #10,141
  • Jul 8, 2008 5:31pm Jul 8, 2008 5:31pm
Quoting Firstboss
I am short @ 107.45, take profit at 107.28 - midpoint between the daily and central.
Also have a blind long entry at the PP (107.08 + 2pips), with take profit also at midpoint
That is a good call....... Thank you Firstboss
The Dove - Forex Trainer
  • #10,142
  • Jul 8, 2008 6:20pm Jul 8, 2008 6:20pm
Do you think a pickup of the Asian stocks will move it upward? I'm going to sit tight till the Asian session opens..
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,143
  • Jul 8, 2008 6:27pm Jul 8, 2008 6:27pm
Quoting dove_alliance
That is a good call....... Thank you Firstboss
LOL. Dove, thank YOU for sharing your knowledge with us last year :-)
"Luxury is one of the basic needs", (c), Don Corleone
  • #10,144
  • Jul 8, 2008 6:37pm Jul 8, 2008 6:37pm
medium impact jpy news in 15 min. look for spreads to widen if you have a tight stop nearby...
FUBAR...
  • #10,145
  • Jul 8, 2008 6:48pm Jul 8, 2008 6:48pm
I am getting 'hold' area on H1. a downtrend line.

Bulls are still up but fight between them has started. Need anothe LH to confirm downtrend.

Cheers.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: usd_jpy_h4_08_07_2008_channel_up_diamond.gif Size: 24 KB
  • #10,146
  • Jul 8, 2008 6:51pm Jul 8, 2008 6:51pm
Crikey!! 10.4% wonder if it a typo...
FUBAR...
  • #10,147
  • Jul 8, 2008 6:53pm Jul 8, 2008 6:53pm
Quoting ak4x
Crikey!! 10.4% wonder if it a typo...
yea, that's a lot of machinery
"Luxury is one of the basic needs", (c), Don Corleone
  • #10,148
  • Jul 8, 2008 6:53pm Jul 8, 2008 6:53pm
Quoting ak4x
Crikey!! 10.4% wonder if it a typo...
No kidding, shouldn't that move the U/J down?
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,149
  • Jul 8, 2008 6:55pm Jul 8, 2008 6:55pm
Well, in a nonrmal world one would expect yen to strengthen considerably, but these are strange days. I saw the spread widen for maybe 2 seconds, AFTER the news.

i just don't get it any more.

I'm going to turn my monitor upside down for awhile and see if that helps.
FUBAR...
  • #10,150
  • Jul 8, 2008 6:58pm Jul 8, 2008 6:58pm
it should go down... at least to test the pivot... I see a triple top also...
  • #10,151
  • Jul 8, 2008 6:59pm Jul 8, 2008 6:59pm
FF needs to come up with another color for their impact coding of news releases, maybe a clear for WHO CARES?
FUBAR...
  • #10,152
  • Jul 8, 2008 7:00pm Jul 8, 2008 7:00pm
Yen is often slow to react on Japanese news. Wonder if it's insider trading (market makers know the news ahead), Japanese patience or volatility prevention by Japanese Central Bank...
I am still short - added more at 107.50
"Luxury is one of the basic needs", (c), Don Corleone
  • #10,153
  • Jul 8, 2008 7:01pm Jul 8, 2008 7:01pm
Quoting jupiter_peak
I am getting 'hold' area on H1. a downtrend line.

Bulls are still up but fight between them has started. Need anothe LH to confirm downtrend.

Cheers.
I see the same trend line on my hourly, back to the high on 6/25, with a top at 107.62; recent high at 107.75. I think it should drop, soon; at least to 106.5.
  • #10,154
  • Jul 8, 2008 7:02pm Jul 8, 2008 7:02pm
I dont get it anymore, the market is so screwed up with everyone trying to prop up a currency. Look what the Koreans did..LOL
I'm afraid to go short, I'm not sure about going long....
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,155
  • Jul 8, 2008 7:04pm Jul 8, 2008 7:04pm
LAUGHING......With those numbers it should had sent this clear to the bottom........ But as you say "Who Cares" ......... Goes to show that you should never depend on something that will never happen......
The Dove - Forex Trainer
  • #10,156
  • Jul 8, 2008 7:04pm Jul 8, 2008 7:04pm
Quoting Firstboss
Yen is often slow to react on Japanese news. Wonder if it's insider trading (market makers know the news ahead), Japanese patience or volatility prevention by Japanese Central Bank...
I am still short - added more at 107.50
I do think it will short, but I'm waiting for further confirmation. What worries me with this pair is that it often moves in tandem with the stock markets, which were up today; add the drop in oil, this is all good for the USD.
  • #10,157
  • Jul 8, 2008 7:06pm Jul 8, 2008 7:06pm
So - the long story is "Short".........
The Dove - Forex Trainer
  • #10,158
  • Jul 8, 2008 7:06pm Jul 8, 2008 7:06pm
  •  Trader#0000
  • | Status: Unregistered Trader
juz patient to all dear traders..trust ur system..it'll come to u..
  • #10,159
  • Jul 8, 2008 7:11pm Jul 8, 2008 7:11pm
Quoting dove_alliance
So - the long story is "Short".........
Yuk Yuk.. I guess so. I read too much into the news, and U/J should follow the Asian market if they are up I would assume.
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,160
  • Jul 8, 2008 7:12pm Jul 8, 2008 7:12pm
Nikkei is way up right now, but sometimes that just means that it can only go down.
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