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USD/JPY Discussion

  • #13,261
  • Oct 7, 2009 6:45pm Oct 7, 2009 6:45pm
price is test 88.50 again. since it broke last night it won't be such a shock this time.
  • #13,262
  • Oct 7, 2009 6:57pm Oct 7, 2009 6:57pm
AB=CD to the dime at 88.09 complete.

Option
1-Correction at FE 718 (90.22) or 618 (91.7) in confluence whit fibs 23.6 / 38.2.
2-Extension at FE 1.27 at 85.45

Good trade all!
Attached Image (click to enlarge)
Click to Enlarge Name: UJ 7-10-09.jpg Size: 107 KB
  • #13,263
  • Oct 8, 2009 4:26am Oct 8, 2009 4:26am
Speculation on the part of investors that the Bank of Japan will be quicker in withdrawing emergency stimulus than the US seems to be continuing to drive strength in the yen. It is possible that the Bank of Japan will be faster, but I think a more interesting factor is the yield difference between 10-year Treasuries and similar maturity Japanese government bonds – the yield advantage on the US Treasury narrowed to 1.92% from 2.01% at the end of last month. The appeal for US securities and dollars is diminished as investors want higher yielding currencies and assets.
  • #13,264
  • Oct 8, 2009 4:29am Oct 8, 2009 4:29am
Quoting Tiger21
[size=3][font=Calibri]Speculation on the part of investors that the Bank of Japan will be quicker in withdrawing emergency stimulus than the US seems to be continuing to drive strength in the yen....
Err what? Yield diminishing on bonds indicates bond price is going UP i.e. investors are piling into bonds!
  • #13,265
  • Oct 8, 2009 6:18am Oct 8, 2009 6:18am
I have here M30 H1 H4 D and W ... ALL showing DOWNTREND...

Really not a good moment for buy


I just waiting for see if UJ will go broke 88.45 next 90min...

Another nice point is 89.15 (next point for upside to M30), but H1 .. H4...D and W still DOWNTREND.
  • #13,266
  • Oct 8, 2009 8:29am Oct 8, 2009 8:29am
I hate to jump on the bandwagon - but barring a real surprise in economic data during the US session, we may see continued weakness.

The Yen continued to gain versus the Dollar reaching its highest level since January as Japan Finance Minister Hirohisa Fujii signaled that policy makers are comfortable with their currency's strength. Overall, USD/JPY traded with a low of 88.00 and with a high of 89.38. Core Machinery Orders will be released overnight and expected to rise by 2.2% versus -9.3% decline prior.



USD/JPY-Last: 88.25

Resistance

88.75

89.15

89.40

Support

88.00

87.50

87.10


http://forex-ufxbank.com/Images/Dail...009/JPYUSD.PNG
  • #13,267
  • Oct 8, 2009 9:23am Oct 8, 2009 9:23am
I Love funnymentals!....
  • #13,268
  • Oct 8, 2009 1:50pm Oct 8, 2009 1:50pm
now is good time to buy USD .. i don't believe in U.S Stock strength , time to big correction - recession not complete
  • #13,269
  • Oct 8, 2009 8:37pm Oct 8, 2009 8:37pm
bought at 88.50. took profits now. this thing could possible reach 89.50-90
  • #13,270
  • Oct 8, 2009 9:00pm Oct 8, 2009 9:00pm
Gartley complete

Sold @ 88.08

Let's see!
Attached Image (click to enlarge)
Click to Enlarge Name: UJ gartley 8-10-09.jpg Size: 178 KB
  • #13,271
  • Oct 8, 2009 9:10pm Oct 8, 2009 9:10pm
i think 88 is the near term bottom. it tried to break 88 several times and failed.

inside bar on the daily suggest an up move. we are breaking out. 89.36 possible limit.
  • #13,272
  • Oct 8, 2009 9:57pm Oct 8, 2009 9:57pm
Quoting Inzider
Gartley complete

Sold @ 88.08

Let's see!
Did you mean 89.08? Selling at 88.08 would be selling into the hole since it's pretty solid support area so far. I'm also starting to favor longs on the usd/jpy long term. This will depend on the follow through as things can change and we always have to listen to what the market is telling us.
  • #13,273
  • Oct 8, 2009 11:16pm Oct 8, 2009 11:16pm
almost reached target
  • #13,274
  • Oct 8, 2009 11:26pm Oct 8, 2009 11:26pm
Quoting nwsuccess
Did you mean 89.08? Selling at 88.08 would be selling into the hole since it's pretty solid support area so far. I'm also starting to favor longs on the usd/jpy long term. This will depend on the follow through as things can change and we always have to listen to what the market is telling us.
Yeah did the mistake following the pattern blindly, will cut at 40 if 08 ain't reach before.

Take care later!
  • #13,275
  • Oct 8, 2009 11:27pm Oct 8, 2009 11:27pm
Quoting sed34
almost reached target
NIce call!

---------
USDX is rocket flying, JPY X is Diving...
  • #13,276
  • Oct 9, 2009 2:05am Oct 9, 2009 2:05am
Hi Everyone!!

Just curious why is this thread not as active as some other pair threads like GU/EU etc. Believe this is one of the most important pairs out there. Its fast becoming my fav pair alongwith AUD/USD..
I am a day trader generally but also like to scalp a few pips during the day. Use 15M, 5M and 1M charts but also try to keep an eye on daily and weekly charts.

Whose in the trade at the moment. I made some nice pips yesterday from 88.20 to 88.80ish. Today i'm short from 89.14 and expecting it to drop around 88.50 .

Would love to see this thread more active than this so if there are a few active traders of this pair, lets get this thread buzzing!!!

Cheers!
  • #13,277
  • Oct 9, 2009 2:24am Oct 9, 2009 2:24am
Quoting Pak Tiger
Hi Everyone!!

Just curious why is this thread not as active as some other pair threads like GU/EU etc. Believe this is one of the most important pairs out there. Its fast becoming my fav pair alongwith AUD/USD..
I am a day trader generally but also like to scalp a few pips during the day. Use 15M, 5M and 1M charts but also try to keep an eye on daily and weekly charts.

Whose in the trade at the moment. I made some nice pips yesterday from 88.20 to 88.80ish. Today i'm short from 89.14 and expecting it to drop around 88.50 .

Would love to see...
Critical target reached. 89.38. A clean break targets 90.

good night.
  • #13,278
  • Oct 9, 2009 2:34am Oct 9, 2009 2:34am
Quoting sed34
Critical target reached. 89.38. A clean break targets 90.

good night.

Yeah it did. But 89.40 seems to provide some good resistence. Cable is likely to go up in this London session so im expecting U/J to be back to 89.00 level during this session!! Lets c
  • #13,279
  • Oct 9, 2009 5:01am Oct 9, 2009 5:01am
Its happening guyz :-) U/J on its way back to 88.50s !!!
  • #13,280
  • Oct 9, 2009 7:35am Oct 9, 2009 7:35am
Quoting Pak Tiger
Hi Everyone!!

Would love to see this thread more active than this so if there are a few active traders of this pair, lets get this thread buzzing!!!

Cheers!
Hey Pak!

I'm in!!! I was trading GU but get tired and wish to trade a less ATR cross.
UJ is perfect. I will make some comments following harmonic pattern and some view of mine. Real pleasure to have you here!
-----------

I did cut my 88.20 position at 89.12, then kept the short from 89.08 until 43 to reaload again for another short and cut all the dam boat at 88.75.

Took a little more risk then usual but UJ served me well and profit are into pockets now.

Wish you all good week end, only small scalp will be taken for me now.
Good trade all!
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