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USD/JPY Discussion

  • #12,221
  • Nov 12, 2008 10:57am Nov 12, 2008 10:57am
woo hoo! nice bounce off the weekly.
I'll cash out my 65 pips now and stop for the day.

good luck to everyone out there!
  • #12,222
  • Nov 13, 2008 9:51am Nov 13, 2008 9:51am
Looks like a sell opportunity is forming
  • #12,223
  • Nov 13, 2008 11:28am Nov 13, 2008 11:28am
Short just got triggered at 95.60
Let's see what happens
  • #12,224
  • Nov 13, 2008 12:18pm Nov 13, 2008 12:18pm
Quoting dwildes
Short just got triggered at 95.60
Let's see what happens

Got 30 pips - was hoping for more, but just not enough movement on that swing.
  • #12,225
  • Nov 13, 2008 2:42pm Nov 13, 2008 2:42pm
Unemployment and trade balance numbers are LESS than expected.....why are we getting a bullish breakout? Not saying I dont like it
  • #12,226
  • Nov 13, 2008 2:52pm Nov 13, 2008 2:52pm
I'm not sure - maybe a fundamental trader can explain it.
Good reason to have good stops if you were short though
  • #12,227
  • Nov 13, 2008 9:02pm Nov 13, 2008 9:02pm
I got home and couldn't believe my eyes, I was expecting another big drop due to the jobless count. Seems that the market has gone WACK. buy the bad, sell the good. Now if I can get that to align with my sell at the bottom and buy at the top, I'd be doing great!

Seems that there was a lot of talk today about bailing the auto makers out of there hole, that boosted the market. Oh-well, maybe a better place to sell?
  • #12,228
  • Nov 13, 2008 9:07pm Nov 13, 2008 9:07pm
Quoting fxstman
I got home and couldn't believe my eyes, I was expecting another big drop due to the jobless count. Seems that the market has gone WACK. buy the bad, sell the good. Now if I can get that to align with my sell at the bottom and buy at the top, I'd be doing great!

Seems that there was a lot of talk today about bailing the auto makers out of there hole, that boosted the market. Oh-well, maybe a better place to sell?
That's what I'm thinking as well - looking for a great short.
We're in a consolidation zone right now, so I'm waiting. I expect an exhaustion spike up then down.

What's odd to me from a technical perspective is - the USD/JPY was in direct correlation of the EUR/USD, but recently it has been in sync with it.
  • #12,229
  • Nov 13, 2008 9:31pm Nov 13, 2008 9:31pm
Quoting dwildes
That's what I'm thinking as well - looking for a great short.
We're in a consolidation zone right now, so I'm waiting. I expect an exhaustion spike up then down.

What's odd to me from a technical perspective is - the USD/JPY was in direct correlation of the EUR/USD, but recently it has been in sync with it.
Good, I'm not the only one seeing this. the last several days I have been trading E/U , A/U, E/J, all by watching U/J. and USD/CHF has been moving the exact oppisite of U/J.

good trading to ya dwildes,

fxst
  • #12,230
  • Nov 13, 2008 9:52pm Nov 13, 2008 9:52pm
Quoting fxstman
Good, I'm not the only one seeing this. the last several days I have been trading E/U , A/U, E/J, all by watching U/J. and USD/CHF has been moving the exact oppisite of U/J.

good trading to ya dwildes,

fxst
Thanks buddy - same to you.
It's a different shift. For months it was easy to correlate against the E/U with the U/J. Seems you understand the game well if you see the new correlation. Well Done!

Happy Trading!
  • #12,231
  • Nov 15, 2008 3:57am Nov 15, 2008 3:57am
A clear break of 98.00 will see this pair go through the roof.
  • #12,232
  • Nov 15, 2008 7:55pm Nov 15, 2008 7:55pm
Hey everybody,
I need some advice on a long trade i got on usd/jpy. I got into a long poition at 95.60 and the pair closed at 97.08 for the week. Should i hang on to my long position waiting to break the 98.0 area or close the position? Does this look like a trend reversal or should i expect a company failure to prevent the usd rally for next week?

thank you for your time
  • #12,233
  • Nov 15, 2008 8:51pm Nov 15, 2008 8:51pm
Quoting NiceGuyEddy
Hey everybody,
I need some advice on a long trade i got on usd/jpy. I got into a long poition at 95.60 and the pair closed at 97.08 for the week. Should i hang on to my long position waiting to break the 98.0 area or close the position? Does this look like a trend reversal or should i expect a company failure to prevent the usd rally for next week?

thank you for your time
although the trend is down, looks like the price had a perfect bounced from 61.8% fib. (see chart)

when the market opens on sunday, i would keep your position, but move your sl @ be +5 ~ +10 pips, so even if the trade goes against you. you can still walk out with some profit.

if 94.50 area breaks then i would expect uj to make new low in coming days.

if the price breaks the tl (red thick line) and takes out the last high then your long position is in good shape.

hope this helps

good luck with your trade.
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 20 KB
  • #12,234
  • Nov 15, 2008 9:03pm Nov 15, 2008 9:03pm
do deez guy result look real?? http://profxi.com/results.php
  • #12,235
  • Nov 15, 2008 11:03pm Nov 15, 2008 11:03pm
Quoting pkimnyc
although the trend is down, looks like the price had a perfect bounced from 61.8% fib. (see chart)

when the market opens on sunday, i would keep your position, but move your sl @ be +5 ~ +10 pips, so even if the trade goes against you. you can still walk out with some profit.

if 94.50 area breaks then i would expect uj to make new low in coming days.

if the price breaks the tl (red thick line) and takes out the last high then your long position is in good shape.

hope this helps

good luck with your trade.
Thank you it definetly helps
  • #12,236
  • Nov 16, 2008 11:28am Nov 16, 2008 11:28am
yen price at this moment

90.1

change: -6.07

mean drop 607 pips even now...
  • #12,237
  • Nov 18, 2008 8:21am Nov 18, 2008 8:21am
Looking for shorts if we hit the 98.00 area +/-25 pips
  • #12,238
  • Nov 18, 2008 2:33pm Nov 18, 2008 2:33pm
Quoting dwildes
Looking for shorts if we hit the 98.00 area +/-25 pips
Awwww - if it only come up another 30 pips, I would have taken a short on it and be rolling in the pips right now. Oh well - the E/U had most of my attention today anyway.

Hope others made a good profit!
  • #12,239
  • Nov 18, 2008 3:56pm Nov 18, 2008 3:56pm
looking for short 97.20
  • #12,240
  • Nov 19, 2008 9:54am Nov 19, 2008 9:54am
Quoting libb
looking for short 97.20
Did you get your short?
Seems they are coming almost up to the target area and pull away.
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