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USD/JPY Discussion

  • #13,161
  • Sep 3, 2009 10:20am Sep 3, 2009 10:20am
Price action is hovering around my downward trend line, and has already hit and bounced off the 60 MA. Stochastics and MACD are both showing oversold. A couple more tests of the MR1 pivot will most likely foreshadow another drop past S1 pivot down into the 91.xx's.
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  • #13,162
  • Sep 3, 2009 10:27am Sep 3, 2009 10:27am
the barrier of 92 did reach. There was a lot of talk of massive options at 92. So i guess those who had it came out on top last night. This is just a bounce in my opinion. I think next week we're going into the 91's.
  • #13,163
  • Sep 3, 2009 4:07pm Sep 3, 2009 4:07pm
H8 Gartly in play im Long is anyone in ??? I think Price might bounce back to the .236(92.91) or the .382(93.50) Fib level according to this price pattern not according to fundamentals... anyone has any thing to add feel free to let me know
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  • #13,164
  • Sep 3, 2009 5:33pm Sep 3, 2009 5:33pm
Quoting dnagold
H8 Gartly in play im Long is anyone in ??? I think Price might bounce back to the .236(92.91) or the .382(93.50) Fib level according to this price pattern not according to fundamentals... anyone has any thing to add feel free to let me know
I'm long too, if it goes more down I will open more positions long. Will see in a couple of days how it did.
  • #13,165
  • Sep 4, 2009 1:45am Sep 4, 2009 1:45am
Quoting tomasz
I'm long too, if it goes more down I will open more positions long. Will see in a couple of days how it did.

everything depends on the macro datas we 'r gonna know later this afetrnoon...
Unemployment Rate mostly! let's see how USA mkt will open today and wut about Unemployment Rate later this afteroon..
btw dont think USD/JPY will fall to 91...it wil stay around 93..and next will it rise up! American Economiy is strong and ready to re-start!
Asian market moves like a swing...let's see wut happen!
A.
  • #13,166
  • Sep 6, 2009 12:29pm Sep 6, 2009 12:29pm
Here are my S/R levels for this week. These can be traded for +20/-20 at a time. Nice action last week. Be careful if price touches a level too many times.

Good trading all!
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  • #13,167
  • Sep 7, 2009 3:05am Sep 7, 2009 3:05am
Latest Helpful Charts 4 Those Who Care...
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  • #13,168
  • Sep 7, 2009 9:59am Sep 7, 2009 9:59am
Thank You Hasnaa for taking the time to post your charts you are awesome
  • #13,169
  • Sep 8, 2009 7:33am Sep 8, 2009 7:33am
There is a positive divergence on the daily and H4 chart, so I think we can go up.
What do you think about this idee?
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  • #13,170
  • Sep 8, 2009 10:07am Sep 8, 2009 10:07am
Quoting RussoS
There is a positive divergence on the daily and H4 chart, so I think we can go up.
What do you think about this idee?
Price action is definitely oversold at this point, we are approximately 66 pips below the 1hr MA. My MACD is waaay oversold, and we are overdue for a test of support possbily @ 92.57ish. Looks right now to be turning towards the upside, stochastics are confirming move. Candlestick activity has tested 92.056 several times in multiple hours, so that is our new resistance. I would expect a test of some support pivot or line before we see another push through the resistance.
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  • #13,171
  • Sep 9, 2009 9:01am Sep 9, 2009 9:01am
91.8 long 4h
  • #13,172
  • Sep 9, 2009 12:24pm Sep 9, 2009 12:24pm
Quoting moosley
91.8 long 4h
long from 91.73 --- TP 92.75, but will keep an eye on it.
  • #13,173
  • Sep 9, 2009 3:09pm Sep 9, 2009 3:09pm
Quoting Sam209a
long from 91.73 --- TP 92.75, but will keep an eye on it.
There's no way it's going as high as 92.75; might get into the 92.40's, unless it breaks the 1hr MA (which is unlikely given the past performance and data releases from the past few days). I'm awaiting the next drop, we have a bullish engulfing pattern at the top of this latest run, with a bearish hammer candle to boot. Look for a test of 91.75 downwards to possibly 91.00 by the end of "tomorrow morning" (by 5-6 AM EST). We should be riding pure technicals until around 8:30 AM EST when U.S. trade balance is released (this should be ugly, I'd be short at least by this point).
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  • #13,174
  • Sep 9, 2009 3:41pm Sep 9, 2009 3:41pm
Quick S/R corollary. We are looking to close below the resistance test from 9/2 (same test from 8/8 through 8/13), if we can close below 91.65, it's only another confirmation of the continuing downtrend.
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  • #13,175
  • Sep 9, 2009 3:48pm Sep 9, 2009 3:48pm
Quoting rainingpips
Quick S/R corollary. We are looking to close below the resistance test from 9/2 (same test from 8/8 through 8/13), if we can close below 91.65, it's only another confirmation of the continuing downtrend.
cheers for that --- better to move the stop lose then
  • #13,176
  • Edited 8:05am Sep 10, 2009 7:39am | Edited 8:05am
Wow, unemployment claims were only slightly better than forecast, but look at the Trade Balance: -32.0 billion!!! I think we'll see 91.00-90.80s today! Almost a 5 billion difference...not looking good for the U.S. guys.
  • #13,177
  • Sep 10, 2009 9:28am Sep 10, 2009 9:28am
uh-oh, long legged doji...the next candle didn't open above it though. Me thinks the Plunge Protection team is at work here... All technicals point to the continued downward trend through. I got out at S2, but think I might jump in after this hour.
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  • #13,178
  • Sep 11, 2009 9:43am Sep 11, 2009 9:43am
We've been riding a great downtrend, but I think that price action is oversold at the moment, and we are due for a mild correction. Price is over 115 pips below the 1hr EMA, and MACD and stochastics are displaying oversold and possible trend change respectively. Looking for a possible bounce into a strict, tight plateau starting around 12 - 2 PM EST off of S4. I closed my shorts after the channel broke down and hit MS4, but price is too oversold to go much further down IMHO. Not much economic data left for today either.
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  • #13,179
  • Sep 11, 2009 10:22am Sep 11, 2009 10:22am
This is awesome....I never thought that UJ could gain such a pace. But 90 level for Yen should make people think about the export dependent economy of Japan.
The only way to get smarter is by playing a smarter opponent.
  • #13,180
  • Sep 11, 2009 12:25pm Sep 11, 2009 12:25pm
Quoting rainingpips
We've been riding a great downtrend, but I think that price action is oversold at the moment, and we are due for a mild correction. Price is over 115 pips below the 1hr EMA, and MACD and stochastics are displaying oversold and possible trend change respectively. Looking for a possible bounce into a strict, tight plateau starting around 12 - 2 PM EST off of S4. I closed my shorts after the channel broke down and hit MS4, but price is too oversold to go much further down IMHO. Not much economic data left for today either.
a lot of things have been oversold and overbought lately. that doesn't mean it will stop. there is a double bottom at 87
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