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USD/JPY Discussion

  • #10,161
  • Jul 8, 2008 5:25pm Jul 8, 2008 5:25pm
I found a guy who knows what's really going on...
Attached Image
FUBAR...
  • #10,162
  • Jul 8, 2008 5:28pm Jul 8, 2008 5:28pm
That's hahaha.
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,163
  • Jul 8, 2008 5:30pm Jul 8, 2008 5:30pm
These last few hours of consolidation is trying to change things...... The central pivot on all the currencies is strong, but watch for a break......
The Dove - Forex Trainer
  • #10,164
  • Jul 8, 2008 5:33pm Jul 8, 2008 5:33pm
Quoting dove_alliance
These last few hours of consolidation is trying to change things...... The central pivot on all the currencies is strong, but watch for a break......
Dove,

You've got mail!
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,165
  • Jul 8, 2008 5:34pm Jul 8, 2008 5:34pm
Here we come again...just below the famous cast-iron ceiling, 200SMA that USD/JPY has not been able to break and hold above it for the past several weeks. How many times did it fail to do so? How about this time? I don't know, but the 200SMA level is clearly coming down than before.

For the time being, since it seems be overbought in the hourly chart, it needs to go down a bit to try breaking it again. In spite of the fact that the machinery orders turned out to be much better than expected, it's still refusing to drop, which I think is weird though.
  • #10,166
  • Jul 8, 2008 5:44pm Jul 8, 2008 5:44pm
Quoting naminori
In spite of the fact that the machinery orders turned out to be much better than expected, it's still refusing to drop, which I think is weird though.
I think the trader for Tokyo Bank couldn't believe the numbers either and decided to give it up for the night......... what do you think.......?
The Dove - Forex Trainer
  • #10,167
  • Jul 8, 2008 5:46pm Jul 8, 2008 5:46pm
From IGM News
[DLR/YEN] has sharply rebounded from the 106.25 low to the 107.55 peak overnight. Bernanke again has come on the stage to support the Dow (20% from the peak and 10% down in Jun) via the Dlr/Yen and Yen crosses. The timing also seems set ahead of the market value accounting time limit in mid Jul decided at the Apr G7. US's strong Dlr comments appear just a pose of coordination with Europe, and the US would have to stick to weak Dlr to reconstruct its economy via visible goods (exports) instead of invisible IT/sub prime loan bubble. Offers are noted above 107.60, exporters' orders at 107.80-108.00. The 200D-MA (107.54, down) would be meaningful only in the longer term.
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,168
  • Jul 8, 2008 5:48pm Jul 8, 2008 5:48pm
I still don't understand very well the fundamentals with the yen currency... please someone tell me...

why the Yen is doing always the opposite?
  • #10,169
  • Jul 8, 2008 5:52pm Jul 8, 2008 5:52pm
is it time to short yet, looks like it is getting ripe.
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,170
  • Jul 8, 2008 5:54pm Jul 8, 2008 5:54pm
I expected a bit more of movement... don't like it...
I guess they are worried about last rally in dow and bernanke words... or something.
  • #10,171
  • Jul 8, 2008 5:55pm Jul 8, 2008 5:55pm
Quoting emda
I still don't understand very well the fundamentals with the yen currency... please someone tell me...

why the Yen is doing always the opposite?
it's really very simple, see the pic below, it explains everything.
Attached Image
FUBAR...
  • #10,172
  • Jul 8, 2008 5:58pm Jul 8, 2008 5:58pm
Quoting ak4x
it's really very simple, see the pic below, it explains everything.

heh... damn... I should have seen it before.. lol
http://cker.name/galerie/example/japan-house.jpg
  • #10,173
  • Jul 8, 2008 6:02pm Jul 8, 2008 6:02pm
I just think it's being propped up. Ben knows full well what each and every one of his words means. He knows what the market will do. Between him and others, the USD/JPY is being propped up so the dollar will not loose it.
You know Bush favors a strong dollar! LOL. I must of heard that in the news 100 times since he said it. What propaganda!

That's a cool house!
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,174
  • Jul 8, 2008 6:04pm Jul 8, 2008 6:04pm
LOL :-)
Bush favors strong dollar... It makes as much sense as "rock against drugs", "politicians against corruption" or "bees against honey"...
"Luxury is one of the basic needs", (c), Don Corleone
  • #10,175
  • Jul 8, 2008 6:09pm Jul 8, 2008 6:09pm
Well - the E/J and the E/U are giving up the pips........And they both are going short......
The Dove - Forex Trainer
  • #10,176
  • Jul 8, 2008 6:10pm Jul 8, 2008 6:10pm
emda, that is beautiful. it's all in the perspective.

remember tho, since I turned my monitor upside down, everything looks better now...
FUBAR...
  • #10,177
  • Jul 8, 2008 6:10pm Jul 8, 2008 6:10pm
My five weeks in my live account (I started with 10K), I made a profit of $5900 so I had a total of $15,900 I was doing a bit better, but over the past 6 days have lost enough pips to loose $400 and now have $15500. I don't know what I'm doing different. I've only traded the USD/JPY so far.
I'm almost afraid to pull the trigger on trades..hahaha
I am trading with less now, but still loosing. I picked a few up today, but this market is all backwards.

Maybe I should move into that silly house.
"I spilled spot remover on my dog. He's gone now." - Steven Wright
  • #10,178
  • Jul 8, 2008 6:16pm Jul 8, 2008 6:16pm
Quoting bristolxyz
My five weeks in my live account (I started with 10K), I made a profit of $5900 so I had a total of $15,900 I was doing a bit better, but over the past 6 days have lost enough pips to loose $400 and now have $15500. I don't know what I'm doing different. I've only traded the USD/JPY so far.
I'm almost afraid to pull the trigger on trades..hahaha
I am trading with less now, but still loosing. I picked a few up today, but this market is all backwards.

Maybe I should move into that silly house.
You just hit the head with the hammer...... The market is backwards and out of sync and it does happen every once in awhile and some times it can last for weeks...... Just be patient and it will eventually come back again.....
The Dove - Forex Trainer
  • #10,179
  • Jul 8, 2008 6:18pm Jul 8, 2008 6:18pm
When you got all the currencies running in the same direction then there is a big problem and it is time to take a vacation....... smiling......
The Dove - Forex Trainer
  • #10,180
  • Jul 8, 2008 6:18pm Jul 8, 2008 6:18pm
I am new here but I do believe the U/J is topped out . . . . . . . . I am short at 107.50 ..........
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