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USD/JPY Discussion

  • #13,361
  • Oct 12, 2009 10:02pm Oct 12, 2009 10:02pm
Quoting Pak Tiger
Good Morning Folks!!




Absolutely! The 1H, 30M are showing consolidation while 4H is bearish! I think its flat at the moment and ain't easy to predict which way it will go. Maybe London opening will give us the direction!! Lets c!!
To me H4 is bullish, M30 and H1 are bearish!

I am not trading this pair right now, remaining longs after TP stopped out at BE.

Now holding short E/J from 132.827
  • #13,362
  • Oct 12, 2009 10:08pm Oct 12, 2009 10:08pm
bank of japan interest rate decision coming up.
  • #13,363
  • Oct 12, 2009 10:15pm Oct 12, 2009 10:15pm
Quoting sed34
bank of japan interest rate decision coming up.
Rate remains unchange. as expected. doesn't help much.
  • #13,364
  • Oct 12, 2009 10:20pm Oct 12, 2009 10:20pm
Into the triangle.... waiting mode!
  • #13,365
  • Oct 12, 2009 10:53pm Oct 12, 2009 10:53pm
Long will be initiated over 91 if 1h bar close over triangle.
  • #13,366
  • Oct 12, 2009 10:58pm Oct 12, 2009 10:58pm
Quoting Inzider
Long will be initiated over 91 if 1h bar close over triangle.
that's my bias as well
  • #13,367
  • Oct 12, 2009 11:00pm Oct 12, 2009 11:00pm
Quoting sed34
that's my bias as well


Initiated!

15 pips SL
Target 90.90
(10 pips under 1.618 extension of yesterday high)

----------------

My 4h bar is closing in exaclty the same time as 1h = 50min.
This close should create clear direction - I hope LOL!
Cause this 1h ain't blowing the roof yet....
  • #13,368
  • Oct 12, 2009 11:16pm Oct 12, 2009 11:16pm
Holding long now at 89.871 SL 89.871, sellers getting absorbed by buyers.
  • #13,369
  • Oct 12, 2009 11:26pm Oct 12, 2009 11:26pm
Quoting sinner-
Holding long now at 89.871 SL 89.871, sellers getting absorbed by buyers.
Sinner, I wanted to thx you for the post you made over GU about currencies ATR, it open me a door.

UJ flow is "easier" to "predict" then GU and this daily range make entry really more accurate, as SL shorter.

Anyway, thx for that!
  • #13,370
  • Oct 12, 2009 11:36pm Oct 12, 2009 11:36pm
Quoting Inzider
Sinner, I wanted to thx you for the post you made over GU about currencies ATR, it open me a door.

UJ flow is "easier" to "predict" then GU and this daily range make entry really more accurate, as SL shorter.

Anyway, thx for that!
Hi Inzider, no thanks is necessary bro, consider it a repayment for the hundreds of harmonic patterns which you have posted which taught me things I never knew before!

I am very much liking U/J these days (I am finding as my trading progresses I am moving more towards the 4 majors and away from crosses), and even spoke to vic about trading it full time. At the moment I am still getting my "cross fix" from EUR/JPY because it also has nice tight spread but even moving away from that pair.

It would be good (I mean really good) to see a more permanent thread for U/J, at the moment in this section it is only E/U, G/U and G/J getting lots of analysis and trader love. Let's try and swing a few to the U/J side
  • #13,371
  • Oct 12, 2009 11:52pm Oct 12, 2009 11:52pm
PA is slow again, time for more analysis.

As expected, H4 PA took support from green MA. Big H4 AO bull div also give us a safe swing low to place SL for daily long trades if we want (88.006). H4 break and close above 90.455 confirm new uptrend (green rectangle).
Attached Image (click to enlarge)
Click to Enlarge Name: ujh4.gif Size: 27 KB


M15 bull div played out already and PA confirm higher highs and higher lows.
Attached Image (click to enlarge)
Click to Enlarge Name: ujm15.gif Size: 25 KB


Thick red lines highlight possible accumulation. Volume coming off the lows indicates buying (because there is no strength to sell into) and again up here we see volume during Tokyo with no strength to sell into, smells like accumulation.
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 23 KB
  • #13,372
  • Oct 13, 2009 12:23am Oct 13, 2009 12:23am
Last analysis for today, using Gann HiLo Activator.

Daily Gann broken and above now. Extremely bullish in my view.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ujh4.gif Size: 22 KB
Click to Enlarge Name: ujd1.gif Size: 22 KB
  • #13,373
  • Edited 8:07am Oct 13, 2009 12:37am | Edited 8:07am
Quoting TheArcher
DEMO TRADE :

ok , keyyed in for scalping

sell:

open price 89.77

target price : 89.58

Mission Failed : -20 pips (SL 89.97)
  • #13,374
  • Oct 13, 2009 12:39am Oct 13, 2009 12:39am
Quoting sinner-
Last analysis for today, using Gann HiLo Activator.

Daily Gann broken and above now. Extremely bullish in my view.
yep. bullish now.
  • #13,375
  • Oct 13, 2009 12:45am Oct 13, 2009 12:45am
Buyers and sellers battling it out right now at 90. Hopefully todays accumulation during Tokyo open will give demand.
  • #13,376
  • Oct 13, 2009 12:56am Oct 13, 2009 12:56am
U/J strength just got sold into hard. Lightened my longs again at 90 flat, still hold a few with the same SL.
  • #13,377
  • Oct 13, 2009 1:00am Oct 13, 2009 1:00am
Quoting sinner-
It would be good (I mean really good) to see a more permanent thread for U/J, at the moment in this section it is only E/U, G/U and G/J getting lots of analysis and trader love. Let's try and swing a few to the U/J side
my exact thoughts too .

gets a bit distracting when other pairs are mentioned in here .. (no offence to anyone .. just a thought )
  • #13,378
  • Oct 13, 2009 1:37am Oct 13, 2009 1:37am
HERE COMES SOME ACTION!!!

TP @ 90.90 a good target?
  • #13,379
  • Oct 13, 2009 2:18am Oct 13, 2009 2:18am
it needs to clear immediate resistance of 90.20 and 90.40 to make a home run towards 91.00
  • #13,380
  • Edited 4:05am Oct 13, 2009 3:56am | Edited 4:05am
should test 90.50 ny todau options expire at 90.50..

Option traders has informed me, that there are relatively large 90.50 vanilla option expirations today, mostly at the NY cut. Some specs could be doing some USDJPY buying on the back of these positions, thus the grind higher that we have seen in Asia today.
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