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USD/JPY Discussion

  • #14,281
  • Jan 7, 2010 7:52pm Jan 7, 2010 7:52pm
US have a "Unemployment Rate" report today and "non Farm Employment change" more wave will happen to USD/JPY especially today is friday.

have a happy trading guys. :Cheers:
  • #14,282
  • Jan 7, 2010 10:05pm Jan 7, 2010 10:05pm
Anyone taking the long ride again? I just entered into a buy right now 93.30, SL 92.97. TP open./

I think it can push to make a new high close to 94
Where there is a will there is a way...
  • #14,283
  • Edited Jan 8, 2010 12:23am Jan 7, 2010 11:56pm | Edited Jan 8, 2010 12:23am
Quoting nimmu1982
Anyone taking the long ride again? I just entered into a buy right now 93.30, SL 92.97. TP open./

I think it can push to make a new high close to 94
Short at 93.33 tp 92.97

Out for a few pips.... seems as if most shorts haven't been squeezed out yet. Will get in at a better price. (the 93.15-93.20 area appears to be well protected)


Most shorts will bail with a sharp spike beyond .60 which should push it further to the 69 area... (Wait, didnt this happen earlier?!) I fancy another short squeeze.
  • #14,284
  • Jan 8, 2010 12:38am Jan 8, 2010 12:38am
Watch both GBP/Y and EUR/Y closely... bailing shorts should add fire to the yen.

Assuming most went short within the 1.47-1.48 (maybe even 1.49) area...with an average stop loss of 300 pips .. ~150.70-152. seems probable. Just my opinion.

As for EUR/JP my guess is that most shorts are sitting within the 1.3280 - 1.3330 area... assuming an average stop loss in this case of 70-120 pips... ~1.3420-1.3538 seems probable... Again, Just my opinion.
  • #14,285
  • Edited 1:28am Jan 8, 2010 12:41am | Edited 1:28am
Short at 93.40


Reason: lol (longs appear to be too "relaxed")

Out for +11 - Will probe market again when the opp. arises.


Short again at 93.33 ... will leave this one overnight stop moved to be

peace!
  • #14,286
  • Jan 8, 2010 1:22am Jan 8, 2010 1:22am
Quoting nimmu1982
Anyone taking the long ride again? I just entered into a buy right now 93.30, SL 92.97. TP open./

I think it can push to make a new high close to 94
i take a long ride again, i'm targeting 94.xx eventhough i still open my TP i will monitor my transaction by my self today.

but i believe 94.xx will happen not in this close day, perhaps monday, or at least the fastest time is after the news release if US.
  • #14,287
  • Jan 8, 2010 1:41am Jan 8, 2010 1:41am
Quoting yeri
i take a long ride again, i'm targeting 94.xx eventhough i still open my TP i will monitor my transaction by my self today.

but i believe 94.xx will happen not in this close day, perhaps monday, or at least the fastest time is after the news release if US.
I broke even at 93.30 on Frankfurt expecting it will either go up or go down by London, just got break-even for 0pips. staying on sidelines for now.
Where there is a will there is a way...
  • #14,288
  • Jan 8, 2010 2:01am Jan 8, 2010 2:01am
Eur/jpy is looking interesting...

Bah, now it doesnt... was just about to press sell at 69.. will wait again for another setup.
  • #14,289
  • Jan 8, 2010 2:44am Jan 8, 2010 2:44am
Is this a head and shoulder formation in hourly chart?
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  • #14,290
  • Jan 8, 2010 2:58am Jan 8, 2010 2:58am
Quoting Emp
Is this a head and shoulder formation in hourly chart?
http://i48.tinypic.com/9thkja.jpg

worth considering .... if it breaks downwards from range play
  • #14,291
  • Jan 8, 2010 3:15am Jan 8, 2010 3:15am
Now it's going down to 92.70
  • #14,292
  • Jan 8, 2010 3:17am Jan 8, 2010 3:17am
Quoting Emp
Is this a head and shoulder formation in hourly chart?

Just jumped back on to see it break through the support.. Good pickup...
  • #14,293
  • Jan 8, 2010 3:18am Jan 8, 2010 3:18am
i found a good news at BBC website(at least a god news for me) :
Taken from www.BBC.co.uk:
Mr Kan said he would seek to work with Japan's central bank on the issue, prompting speculation that he might order official intervention.
"I will deal with it seriously and work hard to bring it to the appropriate level, considering the impact that foreign exchange has on the Japanese economy," Mr Kan told reporters.
An appropriate level would be about 95 yen to one US dollar, he said, making a rare public comment by a government minister on the currency's desired value.
so i will open a long position with some risk management, and sit tight waiting for this intervention is realized.
  • #14,294
  • Jan 8, 2010 7:56am Jan 8, 2010 7:56am
Down movement after NFP payroll..

May be the turning point if you take a look at the daily chart.
  • #14,295
  • Jan 8, 2010 9:36am Jan 8, 2010 9:36am
Quoting crak0
Down movement after NFP payroll..

May be the turning point if you take a look at the daily chart.
it was bad report for NFP and a good report for the unemployment rate. trader get a little confused to this kind of mixed data. so i think the down side movement is temporary, let see the proce going up again.
  • #14,296
  • Jan 8, 2010 11:20am Jan 8, 2010 11:20am
Quoting yeri
it was bad report for NFP and a good report for the unemployment rate. trader get a little confused to this kind of mixed data. so i think the down side movement is temporary, let see the proce going up again.
Support at 92.55 seems to hold, lets see.
  • #14,297
  • Jan 8, 2010 6:22pm Jan 8, 2010 6:22pm
Quoting Emp
Support at 92.55 seems to hold, lets see.
i agree with you, but there is something behind why the is the pair hold on the 92.55 support.
are you gonna long oro short on this pair?
  • #14,298
  • Jan 8, 2010 6:39pm Jan 8, 2010 6:39pm
Confusing about which way UJ is planning to head next week. Is it just the NFP day or is it a beginning of a downtrend?
Where there is a will there is a way...
  • #14,299
  • Jan 9, 2010 10:21pm Jan 9, 2010 10:21pm
Hi ther mind if i join the descusion i looked at the uj chart a minute ago and my gaw droped. do yous c it as i do next stop 95.00 then 85.00 ?
iv mostly messed around with eas but iv read this tread many times over the years so im newish to manual trade but not forex:]
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  • #14,300
  • Jan 10, 2010 1:20am Jan 10, 2010 1:20am
Quoting paulw6182
Hi ther mind if i join the descusion i looked at the uj chart a minute ago and my gaw droped. do yous c it as i do next stop 95.00 then 85.00 ?
iv mostly messed around with eas but iv read this tread many times over the years so im newish to manual trade but not forex:]
hmm i dont know either i have to agree or not. but fundamental analysis show that intervention from Japan gov will keep the JPY stronger.
at the other side even if the Jap gov intervering the market, the market is still have their own sentiment and reaction. so let see a few next month, then we can decide.

is there any other thought? please share and share so i can have more consideration.
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