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USD/JPY Discussion

  • #16,281
  • Jun 7, 2010 2:14am Jun 7, 2010 2:14am
Quoting Haymaker
You really believe it will go 94? I don't know for sure but I think it will go 93.00 max.

my target is 100+. seriously
  • #16,282
  • Jun 7, 2010 2:30am Jun 7, 2010 2:30am
Quoting uraceulose
my target is 100+. seriously
I agree. 100+ is on the cards. It may or may not be this particular rally, but it's coming sooner rather than later...imo
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,283
  • Jun 7, 2010 2:31am Jun 7, 2010 2:31am
Quoting realjumper
I agree. 100+ is on the cards. It may or may not be this particular rally, but it's coming sooner rather than later...imo
yeah, i just mean it's coming before 88 and below imo. i could be wrong
  • #16,284
  • Jun 7, 2010 2:42am Jun 7, 2010 2:42am
I think the topside was done. Its going down from here. Possibly to the previous low of 88.12. I'm still learning to trade the yen.
  • #16,285
  • Jun 7, 2010 3:05am Jun 7, 2010 3:05am
Quoting Haymaker
I think the topside was done. Its going down from here. Possibly to the previous low of 88.12. I'm still learning to trade the yen.
Why?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,286
  • Jun 7, 2010 3:10am Jun 7, 2010 3:10am
Upside is limited by 93.00 I guess. Therefore likely to test the low again? I don't know for sure, just guessing and learning.
  • #16,287
  • Jun 7, 2010 3:23am Jun 7, 2010 3:23am
Quoting Haymaker
Upside is limited by 93.00 I guess. Therefore likely to test the low again? I don't know for sure, just guessing and learning.
Upside is not limited by some arbitrary number....neither is the downside. The PA will go wherever it want's to go.....we have to trade *what we see*, not *what we think*.

On the monthly chart below.....has the PA been above or below 93 for the majority of the time?

Trade what you see man......forget all the 'professional' analysis........
Attached Image (click to enlarge)
Click to Enlarge Name: jpmo.jpg Size: 119 KB
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,288
  • Jun 7, 2010 3:26am Jun 7, 2010 3:26am
Quoting realjumper
Upside is not limited by some arbitrary number....neither is the downside. The PA will go wherever it want's to go.....we have to trade *what we see*, not *what we think*.

On the monthly chart below.....has the PA been above or below 93 for the majority of the time?

Trade what you see man......forget all the 'professional' analysis........
Thanks for sharing. You are a good man. Hope you make lots of pips.
  • #16,289
  • Jun 7, 2010 3:26am Jun 7, 2010 3:26am
Looks like a possible head and shoulders top, after a decent uptrend for most of the day....

http://i.imgur.com/sjNCz.png
  • #16,290
  • Jun 7, 2010 3:42am Jun 7, 2010 3:42am
Quoting ricket
Looks like a possible head and shoulders top, after a decent uptrend for most of the day....

http://i.imgur.com/sjNCz.png
I think the shoulder was broken already.
  • #16,291
  • Jun 7, 2010 3:54am Jun 7, 2010 3:54am
I am going short at 93.00 aim 91.25 with stop at 93.40.
  • #16,292
  • Jun 7, 2010 4:01am Jun 7, 2010 4:01am
Quoting Haymaker
I am going short at 93.00 aim 91.25 with stop at 93.40.
The BOJ is notorious for manipulating its currency.

Since they have publicly stated that they would like to see their currency weaken, then we can assume that that is exactly what is going to happen and I would be cautious about a short as a result.
  • #16,293
  • Jun 7, 2010 4:01am Jun 7, 2010 4:01am
YEN.. Offers at 91.50 but above 91.60 can see a rise to 92.10 again. Larger stops at 92.20 targets 92.85 area. Support initially at 90.95 looks solid but below 90.85 may see a dip to 90.50 with larger stops at 90.40 targeting 89.80 zone.
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  • #16,294
  • Jun 7, 2010 4:04am Jun 7, 2010 4:04am
Quoting moonchild
The BOJ is notorious for manipulating its currency.

Since they have publicly stated that they would like to see their currency weaken, then we can assume that that is exactly what is going to happen and I would be cautious about a short as a result.
Thanks for sharing your insight.
  • #16,295
  • Jun 7, 2010 4:11am Jun 7, 2010 4:11am
USDJPY - Key Reversal Down on the Daily Chart! Testing Long MA support!
A little beginner trader since 2006
  • #16,296
  • Jun 7, 2010 4:13am Jun 7, 2010 4:13am
I believe one should learn about risk-aversion and know how to monitor it before even touching the Yen. Technicals is just a passenger here.
  • #16,297
  • Jun 7, 2010 4:24am Jun 7, 2010 4:24am
Quoting micho
well read this again and think it over

Quoting micho
and this ..
very useful ..thanks .

looks like i have another 4 years to go to grasp this ... wish me luck !
  • #16,298
  • Jun 7, 2010 4:52am Jun 7, 2010 4:52am
expect sharp sell off jpy pairs...normaly on monday no strong rebound....happy trade,
A little beginner trader since 2006
  • #16,299
  • Jun 7, 2010 5:19am Jun 7, 2010 5:19am
Quoting Haymaker
I am going short at 93.00 aim 91.25 with stop at 93.40.
Going short at 93.10 aim 91.25 with stop at 93.40.
  • #16,300
  • Jun 7, 2010 5:56am Jun 7, 2010 5:56am
On the 1h chart USD/JPY finds resistance at 92.10, and on the 4h 93.00. The daily chart goes up to 93.50/94.00

I trade the 4h chart, and I'm currently long with 2 contracts.

Enjoy the ride!!

Good luck & green pips to everybody.

Regards
Nectarios
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