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USD/JPY Discussion

  • #14,521
  • Edited 9:32am Jan 21, 2010 9:07am | Edited 9:32am
Quoting No Stress
Short from 91.57 TP 90.30 SL 92.20
I still keep my short from 91.70, US news are bad, but USD/JPY don't want to move down. Can't understand what to do.

Edit: Congratulate, Target reached!
  • #14,522
  • Edited 10:34am Jan 21, 2010 10:14am | Edited 10:34am
http://i50.tinypic.com/2mpg2oh.jpg

just logged in ... caught the drop for +20pips on demo ... what ferocity !

anyway, wouldn't do this kind of scalp ... but couldn't resist the temptation...!
  • #14,523
  • Jan 21, 2010 10:18am Jan 21, 2010 10:18am
why the sudden drop in this?
  • #14,524
  • Jan 21, 2010 10:22am Jan 21, 2010 10:22am
Quoting blue_z_zz
thanks guys for your interaction

as pointed out in the chart we can see a inverse head & shoulder forming to confirm this formation a break of 93 then the pentration of the neck line which lays in the mid 94s
u are most welcome !

reasonable and ponderable on the daily chart ... thanks !

holding similar view as Kas1 on the weekly chart ..

only Mr.Market can be right ...

  • #14,525
  • Jan 21, 2010 10:26am Jan 21, 2010 10:26am
Quoting weekapaugh
why the sudden drop in this?
probably the cumulative effect of bad news with major weight to unemployment claims ?
  • #14,526
  • Jan 21, 2010 10:32am Jan 21, 2010 10:32am
Quoting weekapaugh
why the sudden drop in this?
Bad news for USD and 3h fibonacci:

Attached Image (click to enlarge)
Click to Enlarge Name: UJ fibo.jpg Size: 199 KB
  • #14,527
  • Jan 21, 2010 11:02am Jan 21, 2010 11:02am
Quoting No Stress
Short from 91.57 TP 90.30 SL 92.20
TP touched 130 pips in the account.

I have to see next plan what will be.

Good trading for all.
No Signal, No Trade. No fundamenals, No headache.
  • #14,528
  • Jan 21, 2010 3:38pm Jan 21, 2010 3:38pm
Short 90.41 SL 91.02 TP 89.52.
No Signal, No Trade. No fundamenals, No headache.
  • #14,529
  • Jan 21, 2010 3:55pm Jan 21, 2010 3:55pm
Quoting No Stress
Short 90.41 SL 91.02 TP 89.52.
I think i might wait 2 more hours to see if the Daily candle will close above or below 90.50. That is a major support.
Attached Image (click to enlarge)
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  • #14,530
  • Jan 21, 2010 4:30pm Jan 21, 2010 4:30pm
Quoting Honored
I think i might wait 2 more hours to see if the Daily candle will close above or below 90.50. That is a major support.
the EURJPY is also facing a strong support line. the JPY will have to break that as well. i guessing it will just bounce up on both pairs.

same with GBPJPY. they are all sitting on support lines. something fundamental must happen to JPY to break all these support lines.
  • #14,531
  • Jan 21, 2010 4:34pm Jan 21, 2010 4:34pm
i been afraid to trade this recently seems a little crazy yet i made 10 pips today when i scalpd the drop 10pip
  • #14,532
  • Jan 21, 2010 4:44pm Jan 21, 2010 4:44pm
i think we can play it both ways by placing pending orders and tight sl
  • #14,533
  • Jan 21, 2010 4:49pm Jan 21, 2010 4:49pm
descending triangle on EURJPY
  • #14,534
  • Jan 21, 2010 4:55pm Jan 21, 2010 4:55pm
Quoting hnosair
descending triangle on EURJPY
that means up or down.
There is no significant news JPY or USD today or tomorrow so i am thinking all JPY pairs will bounce back up tonight n tomorrow "_
  • #14,535
  • Jan 21, 2010 5:07pm Jan 21, 2010 5:07pm
Quoting Honored
that means up or down.
There is no significant news JPY or USD today or tomorrow so i am thinking all JPY pairs will bounce back up tonight n tomorrow "_
descending triangle usually pushes the pair to break downward. so it might go for a dip then bounce back later. i don't know for sure. i might be wrong.
  • #14,536
  • Jan 21, 2010 5:10pm Jan 21, 2010 5:10pm
i sold the EURJPY

then closed for quick profit

i think that could be the dip. or it may go down a little more.
  • #14,537
  • Jan 21, 2010 5:20pm Jan 21, 2010 5:20pm
Quoting hnosair
i sold the EURJPY

then closed for quick profit

i think that could be the dip. or it may go down a little more.
Everyone get on Sell, looks like another wave of JPY strength is coming.

me ..USDJPY TP 89.30
  • #14,538
  • Jan 21, 2010 5:42pm Jan 21, 2010 5:42pm
USD/JPY touch 90.07 as i post this message, what news or event or something else that drive USD/JPY move like this, lucky i have got 100 pips profit yesterday. the bad USD news move the trend down, but i'm actually believe there is something beside then just a USD bad unemployment claim and Phily Fed manufacturing index. still in my question what drive this USD/JPY market.
  • #14,539
  • Jan 21, 2010 5:50pm Jan 21, 2010 5:50pm
looks like upward ... support was not broken
  • #14,540
  • Jan 21, 2010 6:08pm Jan 21, 2010 6:08pm
There is no significant support until 89.00 Glad i got out in that bounce back up. 90.00 should hold. hope to break the 9050 tonight.

EDIT : $USDJPY showing sharp positive divergence above 90.00 figure, hinting upward correction likely. Break above 90.50 exposes 90.80
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