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USD/JPY Discussion

  • #12,861
  • Edited 9:37pm May 21, 2009 9:35pm | Edited 9:37pm
I think yen next target will be fibonacci 68.1% at 92.6 as I write in my blog http://vectra.web.id/foreign-exchang...en-update.html after yen breaking 50% fibonacci support at 94.28.
  • #12,862
  • May 22, 2009 4:59am May 22, 2009 4:59am
according to me scenario is such. usd/jpy is weak and falling. but gbp/jpy, eur/jpy and other yen cross pairs are bullish and fighting supports to go up.

I dont really think theres gonna be an outcome down or up until usd/jpy decides to go along with the other yen pairs.

Just my 2-2 cents
prepare for worst & expect the best
  • #12,863
  • May 22, 2009 5:24am May 22, 2009 5:24am
Quoting tony_dtrader
according to me scenario is such. usd/jpy is weak and falling. but gbp/jpy, eur/jpy and other yen cross pairs are bullish and fighting supports to go up.

I dont really think theres gonna be an outcome down or up until usd/jpy decides to go along with the other yen pairs.

Just my 2-2 cents
Of course we don't know for sure what will happen next, its will be up or down. but for yen pair I think the movement of jpy cross is depend on the movement of its major pair, for example eurjpy currently is still sideway trade because eurusd is up and usdjpy down, this will be the same with gbpjpy.

In the end its your decision to go long or short .
  • #12,864
  • May 22, 2009 6:38am May 22, 2009 6:38am
It has some difficulties breaking 94.00 levels. Maybe soon it will.
  • #12,865
  • May 22, 2009 8:27am May 22, 2009 8:27am
Also look at the weekly results so far this week. Alot of pairs have had very good results overall with most pairs moving 1 direction all week (USD/JPY was an exception with moving higher earlier to the current lows on friday) today could be the slow down before some profit taking heading into the new york and weekend.
  • #12,866
  • May 23, 2009 11:58pm May 23, 2009 11:58pm
Going to load up with USD/JPY between current levels and 93.80. Most likely at 94.55 and cheaper. SL - 93.4 and TP @ 96.6
"Don't forget to enjoy your life"
  • #12,867
  • May 24, 2009 7:15pm May 24, 2009 7:15pm
Title:USD/JPY intraday: bullish bias above 94.2.
Summary:Update on supports and resistances.
Story:Pivot: 94.2

Our preference: Long positions above 94.2 with targets @ 95.15 & 95.75 in extension.

Alternative scenario: Below 94.2 look for further downside with 93.85 & 93.35 as targets.

Comment: the RSI broke above a bearish trend line.
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  • #12,868
  • May 26, 2009 1:34pm May 26, 2009 1:34pm
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  • #12,869
  • May 27, 2009 9:04am May 27, 2009 9:04am
here is my chart

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gartley patterns

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  • #12,870
  • May 27, 2009 10:03am May 27, 2009 10:03am
Quoting errich fx
here is my chart

Attachment

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gartley patterns

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already take 30 pips to

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gartley patterns

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  • #12,871
  • May 27, 2009 6:27pm May 27, 2009 6:27pm
  •  yxy
  • | Joined Jul 2008 | Status: just one pip at a time | 55 Posts
Let see how UJ react when it reached the blue box. The location of the box is about 95.60 Within the blue box is today R1, 61.8 Fibo from the high of 96.6x to the previous low. Also, 95.60 has also been proven to be a good support. Let see how it act as a resistance.
Attached Image (click to enlarge)
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  • #12,872
  • May 28, 2009 2:09am May 28, 2009 2:09am
I think the downtrend will resume after price reaches the resistance it is seeking.

I am waiting for the price to stall in the 9740-50 area. Wait and see when NY opens.
Attached Image (click to enlarge)
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Year of the Dragon Wise Choices-Good Fortune!
  • #12,873
  • May 28, 2009 2:55am May 28, 2009 2:55am
  •  yxy
  • | Joined Jul 2008 | Status: just one pip at a time | 55 Posts
Quoting chanchu
I think the downtrend will resume after price reaches the resistance it is seeking.

I am waiting for the price to stall in the 9740-50 area. Wait and see when NY opens.
UJ has blasted through every resistance level on it path. Maybe it is time to consider buying on dip.
  • #12,874
  • May 28, 2009 8:45am May 28, 2009 8:45am
As the Japanese funds are buying abroad and JGB prices are falling I don't think UJ has much of a downside....but also Japan being a export biased nation their currency has a natural tendency to appreciate vs others. So till the days of carry trades return back I think UJ will be touching the extremes and return......just my two pips....
The only way to get smarter is by playing a smarter opponent.
  • #12,875
  • May 28, 2009 6:51pm May 28, 2009 6:51pm
hi..i usually trade the gbp/usd, eur/usd..but i was up and pulled out the usd/jpy charts. on the hourly, it is breaking a secondary trendline right now at 96.76...and i'm looking to short it back to the primary uptrendline (1hr chart) - taking some profit at the s/r area of 95-96
  • #12,876
  • May 28, 2009 7:22pm May 28, 2009 7:22pm
sold ~96.70, t/p 96.44, 96.22. im new at the yen so im only trading two lots...but so far so good, but looks like it's having trouble at 96.45 s/r.
  • #12,877
  • May 28, 2009 8:20pm May 28, 2009 8:20pm
hit both of my targets...i jumped back in the trade at 96.44, taking it down to 95.98 - while taking profits on the way.
  • #12,878
  • May 29, 2009 12:02am May 29, 2009 12:02am
I've been short since the 9700 zone. I have a resting sell stop @ 9627. We'll see in a few minutes. I could possibly be stopped out of my stacked orders at 9661.
Still a profit but I am biased to the downside for this pair, and have been since it left the 9955 area.
Year of the Dragon Wise Choices-Good Fortune!
  • #12,879
  • May 29, 2009 9:01am May 29, 2009 9:01am
buying opportunity usdjpy

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gartley patterns

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  • #12,880
  • May 30, 2009 10:44am May 30, 2009 10:44am
made a nice trade shorting it from the top back to the major hourly trendline.
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