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USD/JPY Discussion

  • #16,041
  • Jun 1, 2010 5:28am Jun 1, 2010 5:28am
Quoting Naseri13
Support:
• 90.87: important intraday level.
• 90.26: short term 50% Fibonacci level (for the rising move from 88.96).
• 89.67: the slowly rising trend line on hourly chart.

Resistance:
• 91.84: Fibonacci 61.8% for the short term, the most important resistance at all for the time being.
• 92.95: May 18th high.
• 93.65: Apr 6th low.
well all this does not really matter...
When life gives you lemons, make lemonade
  • #16,042
  • Jun 1, 2010 5:29am Jun 1, 2010 5:29am
Quoting Naseri13
The USDJPY pair is down and the EURJPY cross is lower. Japanese public finances are a worry. however JGB bonds are mostly owned by Japanese. The government wants a lower exchange rate and has warned the markets about the JPY. It also has been pressing the BOJ to promote growth. Some traders focus intently on the Japan vs. U.S. 2-yr note spread (only the U.S. 2-yr moves much).
well pairs correlation is long gone since the recession in August 2008, so no need to pay attention to that
When life gives you lemons, make lemonade
  • #16,043
  • Jun 1, 2010 5:29am Jun 1, 2010 5:29am
Quoting Naseri13
what do you mean buy natural price dear micho ?
i mean fibonacci + volume + price action + market sentiment
When life gives you lemons, make lemonade
  • #16,044
  • Jun 1, 2010 5:36am Jun 1, 2010 5:36am
Quoting Naseri13
The USDJPY pair is down
As I type this, the usd/jpy pair is down 22pips from where it was prior to the eur/esd drop
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,045
  • Jun 1, 2010 5:57am Jun 1, 2010 5:57am
Quoting micho
i mean fibonacci + volume + price action + market sentiment
in every price action and market sentiment there is something causing this two element. i think what nassery explain is one of the reason what is causing the price action and market sentiment which this element trigger the movement.
  • #16,046
  • Jun 1, 2010 7:40am Jun 1, 2010 7:40am
Quoting yeri
its okay, i agree with you about the reason of this movement, i'm just adding. i hope it's okay.
i think its too late to add already... you should only add when your first target is 2x bigger than the distance to the max retracement...
When life gives you lemons, make lemonade
  • #16,047
  • Jun 1, 2010 7:48am Jun 1, 2010 7:48am
@micho: what target? what distance? i mean i'm just adding your explanation. not adding the transaction.
  • #16,048
  • Jun 1, 2010 7:53am Jun 1, 2010 7:53am
90.59 for usdjpy...after news for CAD
  • #16,049
  • Jun 1, 2010 8:41am Jun 1, 2010 8:41am
Quoting yeri
@micho: what target? what distance? i mean i'm just adding your explanation. not adding the transaction.
USDJPY target 90.07 if the weekly high did not break. we might have great trade opportunities this afternoon on all the USD pairs especially USDCHF and EURUSD.
When life gives you lemons, make lemonade
  • #16,050
  • Jun 1, 2010 8:44am Jun 1, 2010 8:44am
ok take it on your own risk, short USDJPY target 90.07...

ON YOUR OWN RISK I REPEAT...

Peace
When life gives you lemons, make lemonade
  • #16,051
  • Jun 1, 2010 9:32am Jun 1, 2010 9:32am
looks like a good short setup
first target @91.003

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  • #16,052
  • Jun 1, 2010 9:40am Jun 1, 2010 9:40am
this one i really agree with you. he3. i think we can see the direction this week, friday we have unemployment rate, and thursday we have unemployment claims. so i hope to see more clear direction this week.
  • #16,053
  • Jun 1, 2010 9:57am Jun 1, 2010 9:57am
Quoting yeri
this one i really agree with you. he3. i think we can see the direction this week, friday we have unemployment rate, and thursday we have unemployment claims. so i hope to see more clear direction this week.
i did not take any additional positions on USDJPY. just waiting to clear my dragging two positions. besides usd pairs retracement was too big and strong, the chance for trades is not so high now
When life gives you lemons, make lemonade
  • #16,054
  • Jun 1, 2010 10:34am Jun 1, 2010 10:34am
The USD and JPY gave back all of their respective gains from early part of the day against the European and commodity related pairs. The BoC raised interest rates by 25bps (as expected) but the market seemed to focusing on the central banks statement
A little beginner trader since 2006
  • #16,055
  • Jun 1, 2010 10:44am Jun 1, 2010 10:44am
Quoting TheArcher
took the plunge off the fibo61.8%

gain: +20pips
  • #16,056
  • Jun 1, 2010 10:46am Jun 1, 2010 10:46am
Quoting micho
i mean fibonacci + volume + price action + market sentiment
how to use ? what to look for ?
  • #16,057
  • Jun 1, 2010 10:54am Jun 1, 2010 10:54am
sell all jpy crosses...
look like today another black tuesday another history....
happy trade,
A little beginner trader since 2006
  • #16,058
  • Jun 1, 2010 10:58am Jun 1, 2010 10:58am
Quoting Naseri13
sell all jpy crosses...
why?
  • #16,059
  • Jun 1, 2010 12:22pm Jun 1, 2010 12:22pm
Maybe not good time for that. They may be going up here in the short term.
Quoting Naseri13
sell all jpy crosses...
look like today another black tuesday another history....
happy trade,
  • #16,060
  • Jun 1, 2010 2:29pm Jun 1, 2010 2:29pm
lets go down

also short in gbp/jpy

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