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USD/JPY Discussion

  • #12,781
  • May 14, 2009 4:21am May 14, 2009 4:21am
we have the H&S on daily, I am sure, just waiting for a breakout to go short.
  • #12,782
  • May 14, 2009 4:32am May 14, 2009 4:32am
Quoting gintaras123
we have the H&S on daily, I am sure, just waiting for a breakout to go short.
be careful on shorting the pair.
Attached Image
  • #12,783
  • May 14, 2009 4:38am May 14, 2009 4:38am
Quoting Galatasaray
be careful on shorting the pair.
Thanks for that
  • #12,784
  • May 14, 2009 4:40am May 14, 2009 4:40am
Quoting gintaras123
Thanks for that
no problem.
but if you feel like short go ahead do it. The news might help the pair to break that trend line. But at the moment it's just making me stay away from short.
  • #12,785
  • May 14, 2009 6:13am May 14, 2009 6:13am
Looks almost ready to break 94, if it does wont be surprised to see a Friday market pushing it down to 93.xx. But its definitely not on uptrend for today.

I'm holding short since 95.60 for today. lets hope
prepare for worst & expect the best
  • #12,786
  • May 14, 2009 6:23am May 14, 2009 6:23am
Its been on downtrend since 9am EST last Friday, since the NFP news.

Attached Image (click to enlarge)
Click to Enlarge Name: downtrend.jpg Size: 216 KB
prepare for worst & expect the best
  • #12,787
  • May 14, 2009 8:16am May 14, 2009 8:16am
I see the potential for a bounce to 97.xx
  • #12,788
  • May 14, 2009 8:17am May 14, 2009 8:17am
Quoting fammira
I see the potential for a bounce to 97.xx
why?
  • #12,789
  • May 14, 2009 8:45am May 14, 2009 8:45am
Quoting SwissKinseb
why?
cause the pair is extremely oversold and I see risk appetite back and equities up again
  • #12,790
  • May 14, 2009 8:50am May 14, 2009 8:50am
Quoting fammira
cause the pair is extremely oversold and I see risk appetite back and equities up again
don't think thats gonna happen today though... barely few hours left for the market to shutdown. I'm waiting 3 more hours for the price to turn up, will be quitting my trades. Don't wanna be caught in a weekend gap against me.
prepare for worst & expect the best
  • #12,791
  • May 14, 2009 9:10am May 14, 2009 9:10am
Quoting tony_dtrader
don't think thats gonna happen today though... barely few hours left for the market to shutdown. I'm waiting 3 more hours for the price to turn up, will be quitting my trades. Don't wanna be caught in a weekend gap against me.
today starting from US session and tomorrow sentiment should improve
  • #12,792
  • May 14, 2009 9:21am May 14, 2009 9:21am
Quoting fammira
today starting from US session and tomorrow sentiment should improve
lol ... oops its Thursday. i thought it was a Friday. my system date was wrong..
prepare for worst & expect the best
  • #12,793
  • May 14, 2009 9:23am May 14, 2009 9:23am
i hold also a short position from 95.50, lets see and hope
  • #12,794
  • May 14, 2009 9:50am May 14, 2009 9:50am
I am long from 95,39 and same on other JPY/crosses

hope the best for you, I am keeping my stops tight
  • #12,795
  • May 14, 2009 9:57am May 14, 2009 9:57am
Quoting fammira
I am long from 95,39 and same on other JPY/crosses

hope the best for you, I am keeping my stops tight
Its good to see a person believe so hard in stochastic's and overbought/oversold conditions, cuz i have forgotten them long back.

well for today tis been range bound between 95.20-95.80 area. i have my sell stop at 96.00 just in case.

Hope it moves somewhere either one of us win...rather than being stuck for hours in range bound with positions.
prepare for worst & expect the best
  • #12,796
  • May 14, 2009 10:11am May 14, 2009 10:11am
Quoting tony_dtrader
Its good to see a person believe so hard in stochastic's and overbought/oversold conditions, cuz i have forgotten them long back.

well for today tis been range bound between 95.20-95.80 area. i have my sell stop at 96.00 just in case.

Hope it moves somewhere either one of us win...rather than being stuck for hours in range bound with positions.
thanks

I believe RSI is important on this pair, cause differently from EURUSD or GBPUSD that are swinging pairs, USDJPY tends to make unidirectional moves (like for example USDCAD and USDCHF).

When I trade it I therefore keep a short-medium term horizon, trying to sell the strenght and buy the weakness.

For today I see a close above or below 95.6 could be indicative for the coming days.
  • #12,797
  • May 15, 2009 2:01am May 15, 2009 2:01am
Holy shitt! USDJPY is back on the nasty downtrend.!!
prepare for worst & expect the best
  • #12,798
  • May 15, 2009 2:21am May 15, 2009 2:21am
huge US Treasury coupons expiry + redemption of japanese capital could cause further pressure if equities will turn weak again today

I still see these downward moves as chances to go long on the medium term
  • #12,799
  • May 15, 2009 2:28am May 15, 2009 2:28am
I take 25+ pips on my short from 95.50
  • #12,800
  • May 15, 2009 2:41am May 15, 2009 2:41am
Quoting SwissKinseb
I take 25+ pips on my short from 95.50
I'm still holding the short, got a couple more sell trades. Looking for the 94.xx zone to close them
prepare for worst & expect the best
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