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Daily EUR/JPY analysis

  • #821
  • Jul 28, 2008 11:13am Jul 28, 2008 11:13am
Quoting Seaward22
Wow, that's insane. Don't you know EUR is falling apart?
Insane or not, I expect it to go much higher than 173-75

I buy any dips

When the major dip in G/Y comes, I will load up long on this one even more
  • #822
  • Jul 28, 2008 11:16am Jul 28, 2008 11:16am
i cancelled my stop loss is no make sense here
order filled
  • #823
  • Jul 28, 2008 11:19am Jul 28, 2008 11:19am
Now...the price formed a rettangle........

170 is MAX........if stop at 167(double Min)..........go UP....(170 max + 300 pips rettangle = 173)

170 is max.....if stop at 165(double Min).......go UP...(170 max + 500 pips rettangle0 175)


Or when start Up....stop again at MAX.......if stop again....go short at 157.....
  • #824
  • Jul 28, 2008 11:28am Jul 28, 2008 11:28am
Quoting Seaward22
Wow, that's insane. Don't you know EUR is falling apart?
See you next week orf Friday......
  • #825
  • Jul 28, 2008 11:43am Jul 28, 2008 11:43am
Quoting Finsbury
See you next week orf Friday......
You're betting on an all time high while EUR has terrible news. Goodluck. I'll be scalping 10-30 pips no matter where its at.
  • #826
  • Jul 28, 2008 11:44am Jul 28, 2008 11:44am
Quoting 5ysfx
Clear buy signal at 15m chart
bought at 34 and set order at 22 SL below ema 50 at hourly frame.
Very nice buy! TP?
  • #827
  • Jul 28, 2008 11:47am Jul 28, 2008 11:47am
Half position after 50 pips as usual then i think we can hit 171
Eur is bad but jpy is much worse look at yen index.
I am still buying wherever it goes.
  • #828
  • Jul 28, 2008 11:52am Jul 28, 2008 11:52am
Quoting 5ysfx
Half position after 50 pips as usual then i think we can hit 171
Eur is bad but jpy is much worse look at yen index.
I am still buying wherever it goes.
Yen index? What do you think about the fundamentals? Yen is in good shape, banks lost $20B in bad loans. Eur so far over $200B lost. Eur lowering rates soon, Yen can't, lol. Guess maybe I'm months ahead of myself?
  • #829
  • Jul 28, 2008 11:55am Jul 28, 2008 11:55am
Long 169.24 TP 169.65
  • #830
  • Jul 28, 2008 11:58am Jul 28, 2008 11:58am
Quoting Seaward22
Yen index? What do you think about the fundamentals? Yen is in good shape, banks lost $20B in bad loans. Eur so far over $200B lost. Eur lowering rates soon, Yen can't, lol. Guess maybe I'm months ahead of myself?
Imo eurjpy will be driving by stox, til 171-172
As u know i am not a economist(fundies)
i am strictly tech and have seen this behavior many times before.
  • #831
  • Jul 28, 2008 11:59am Jul 28, 2008 11:59am
man...today was horrible, got screwed three times on this pair
  • #832
  • Jul 28, 2008 12:04pm Jul 28, 2008 12:04pm
Quoting Gustav
man...today was horrible, got screwed three times on this pair
Watch your SL's. This thing ranges so much its worthless putting in SL's. Manually open and close these trades.
  • #833
  • Jul 28, 2008 12:05pm Jul 28, 2008 12:05pm
Quoting 5ysfx
Imo eurjpy will be driving by stox, til 171-172
As u know i am not a economist(fundies)
i am strictly tech and have seen this behavior many times before.
I'm too into the fundies. I like being on this board because most everyone is a tech trader providing my countless amounts of knowledge. Thanks guys!
  • #834
  • Jul 28, 2008 12:39pm Jul 28, 2008 12:39pm
iam happy
  • #835
  • Jul 28, 2008 12:55pm Jul 28, 2008 12:55pm
one more time longed eurjpy and usdjpy after clear signal
stoxx up
  • #836
  • Jul 28, 2008 1:19pm Jul 28, 2008 1:19pm
some1 is long?.
Im long, sl 168.98 tp169.69
what u think??
abd
  • #837
  • Jul 28, 2008 1:30pm Jul 28, 2008 1:30pm
I've collected a few positions that are positive going short at this point. Trying to figure out where I should bail out of them. Currently short at 9.4 but looking to ride a retrace down to the previous 167 area of support as has been discussed on this thread earlier.

I'm getting the opinion in this thread that there is something I'm missing that has everyone looking for a return to challenge 169-170 area for the fourth time since the 13th? Seems like each shot at it gets thinner retraces without breaking the top? What typically happens in this scenario?

Very first post to these forums but have found them invaluable to my trading. Thanks for all the fantastic input and expertise everyone shares here.
  • #838
  • Jul 28, 2008 1:49pm Jul 28, 2008 1:49pm
On my daily charts, I have the fibo retracing to the 23.6 (around 165.70)....so that is probably where some of these people are getting their 165-ish retracements. I will echo the sentiments of many of the people on here when I say I believe that EUR/JPY will probably fall at least back into the 167-ish. I'm an economics major, and irrespective of the technicals (even though for the most part I am a technical trader)...numbers coming out of the EURO zone aren't looking that hot.

As far as the short-term goes...Im short at 169.20...looking for around 20-30 pips once it dips back into the 168s. This is probably going to happen by 8 or 9 PM EST.
  • #839
  • Jul 28, 2008 1:57pm Jul 28, 2008 1:57pm
Think it can't get past 170? Think again. Eur/Jpy should easily be in the 200's, by the end of the year. The only currency the USD has gained on is the yen. CHF/JPY broke all-time highs not too long ago, all the other pairs are now bullish against the yen as well. EJ has been bullish for 7 years, and the past year was just a small correction and now it's done consolidating and should be heading up to 200+., Just look at Monthly, 4 months of straight bullish. I am not long now, and won't be going long at this price, just saying. JMO
  • #840
  • Jul 28, 2008 2:01pm Jul 28, 2008 2:01pm
I do agree with you that we will probably see a test around 200, however my comment regarding the 167/165 retracements are more short-term (weekly). I'd love to see EUR/JPY continue to climb and take advantage of the carry.
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