USD/JPY Discussion

Good MAE traders.

For Tokyo open I place a buy stop at 88.888, with SL at the red line. H1 chart shows justification for long area, H4 chart shows justification for upward bias.

I think this order will be filled in Tokyo.

Tokyo won´t open today, its holiday

Investors who had enjoyed a strong return from borrowing cheap yen and using that yen to buy high-yielding currencies like the New Zealand dollar, the Indonesian rupiah and the Australian dollar went running for cover...
The success of this trade was highly correlated to the world's dependency on easy credit. So when the warning signs started flashing that the credit bubble was bursting, the yen soared as investors fled those higher-yielding investments and bought yen.

Thanks for that, I missed it.

Long order filled to the pip, no slippage. Move SL up to 89.57, wait for next signal.

a break above 90 targets 90.50

U/J still going up, adjust buy SL a few pips upwards and put a new buy stop order @ 90.06

Buy stop triggered, a tiny bit of slippage.

See you in an hour.

yep we broke resistance.

I just cancelled that last long, it is an incorrect trade on my part. Buy stop is supposed to be at the high of THIS hourly close.

I am long now @ 90.03 with 20 pip trilian.

Buy Limit @ 90.641 +120

one of the biggest reasons not to trade a dead market is
it is much harder to get follow through on a decent setup.... no
volume= no momentum= higher risk= tight SL

however... the yen is in a bad situation on the macro
economics picture and should weaken....I believe cooperative
intervention by the G7 is not too far off and we could see a correction as
high as 11%

beating the grass to scare the snakes

90.93 -10

Ok there we are, now we have buy signal.

I place next buy stop (which is what the last one was supposed to be) at 90.102. Move SL on current longs up to 89.64.

We are now in the extreme bullish zone unless there is a retrace I will be placing buy stops at the high of each bar.

Hi Guys,

thought i might share with you some ideas while i am away on holiday from my FX dealing job, USD/JPY and EUR/USD trades in play today, market will most likely go for the easy trades with so many holidays and push for stops at 90.30-50 and 1.4620-50 look for good entries around 89.80 and 1.4720 with stops at 89.40 and 1.4760. High percentage trades. This USD yield story fits well with overbought dailies everywhere and USD/JPY resurgence. I predict more USD postive comments in coming days as well to reinforce.

Regards

CTSFATHER

Funny how it only took 2 traders to get this thread going again considering it was completely dead?

Buy stop was triggered while I was out for lunch, no slippage. Holding two longs, move SLs up to 89.73.

As specified, on H1 we are now in extreme bullish zone. Will look to add a buy stop at the high of this hour just started.

Move stops up to 89.79. New buy stop at 90.135. 1 hour till Frankfurt open.

EDIT: Buy stop triggered, no slippage.

Beware of 20/50 zone. Potential reverse.

Holding 3 longs. Move SLs up to 89.84.

Unless this bar makes a new high we have exited bullish PA zone.

At close of this bar will move SL to bar low and continue moving it up each hour on the bar lows.

Tokyo success.

Session opened at 89.69. Took longs at 89.91 and again at 90.13. If exit here, will take 80% of entire session wave despite starting at 80.91.

Move SL for all longs to 90.083. Wait to see how London Open reacts before decide to exit and trade London as a new wave or continue this wave.