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USD/JPY Discussion

  • #16,681
  • Jun 28, 2010 10:29pm Jun 28, 2010 10:29pm
uraceulose

realjumper

thanks !
  • #16,682
  • Jun 28, 2010 10:32pm Jun 28, 2010 10:32pm
the Eagle has landed at 89.001!

where hence from here ?
Attached Image
  • #16,683
  • Jun 28, 2010 10:38pm Jun 28, 2010 10:38pm
Quoting FX-Petra
Finally closed the last part of my UJ trade from 93.50 @ 89.30. My plan was to close the last half below 87, but I have been in this trade for months and the opprtunity costs were starting to annoy me. As my luck usually goes, I'm sure UJ will head south in the next few days, but unless I see a sustained break of 88, I am going to start looking for a place to flip and go long. Good trades to all!!!!
what a relief it must be !

Congratulations

  • #16,684
  • Jun 28, 2010 10:39pm Jun 28, 2010 10:39pm
The ratio of buyers to sellers for the USDJPY is 3.33

This signifies that there are 3.33 buyers for every 1 seller.

Retail positioning is a contrarian indicator so further downside is expected.
http://i260.photobucket.com/albums/i...20100628203934
  • #16,685
  • Jun 28, 2010 11:59pm Jun 28, 2010 11:59pm
Quoting TheArcher
the Eagle has landed at 89.001!

where hence from here ?
88.25?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,686
  • Jun 29, 2010 12:02am Jun 29, 2010 12:02am
I closed my long term long trade for a loss of 45 pips. I will wait for 88.0 and maybe give another shot when we have an up day or two on shorter tf pivots
  • #16,687
  • Jun 29, 2010 12:06am Jun 29, 2010 12:06am
Quoting realjumper
88.25?

Now only missing one verbal intervention of Prime Minister, the qalquer moment we see Mr. Kan Naoto say a few words! example: "Companies would like a weaker yen and the range of 95 yen per dollar." Always been so this week he will give his opinion (verbal intervention). I follow this currency pair each 18 months, when it reached the range of 87 ~ 88 the Japanese government was on alert! Let's wait!
  • #16,688
  • Jun 29, 2010 12:11am Jun 29, 2010 12:11am
Quoting uraceulose
I closed my long term long trade for a loss of 45 pips. I will wait for 88.0 and maybe give another shot when we have an up day or two on shorter tf pivots
Sorry to hear of your loss man.....we just have to wait for a good reversal sign before pulling the trigger. I think the strategy is good, just ave to wait for the entry
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,689
  • Jun 29, 2010 12:11am Jun 29, 2010 12:11am
Quoting uraceulose
I closed my long term long trade for a loss of 45 pips. I will wait for 88.0 and maybe give another shot when we have an up day or two on shorter tf pivots
I'm waiting to enter a LONG! THERE BE PATIENCE!
BUT THIS WEEK WE WILL Non-Farm payrolls (NFP), in the hope that I AM ........ ?? this index is worrying!
  • #16,690
  • Jun 29, 2010 12:12am Jun 29, 2010 12:12am
Quoting Mary Silvert
Now only missing one verbal intervention of Prime Minister, the qalquer moment we see Mr. Kan Naoto say a few words! example: "Companies would like a weaker yen and the range of 95 yen per dollar." Always been so this week he will give his opinion (verbal intervention). I follow this currency pair each 18 months, when it reached the range of 87 ~ 88 the Japanese government was on alert! Let's wait!
Yep, I sure that Kan is dreaming of something to say to devalue the Yen, without having to actually devalue.

Thanks for the info Mary
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,691
  • Jun 29, 2010 12:13am Jun 29, 2010 12:13am
Quoting realjumper
Sorry to hear of your loss man.....we just have to wait for a good reversal sign before pulling the trigger. I think the strategy is good, just ave to wait for the entry
you're absolutely right man. i pulled the trigger a little too early on that one..but oh well. i'm glad i closed it already as she's still falling atm
congrats to those who went short.
i just would rather trade something trending than something ranging sometimes and figured I could catch a counter trend at the beginning of this week. it'll happen, i'll be there
  • #16,692
  • Jun 29, 2010 12:23am Jun 29, 2010 12:23am
Quoting Mary Silvert
I'm waiting to enter a LONG! THERE BE PATIENCE!
BUT THIS WEEK WE WILL Non-Farm payrolls (NFP), in the hope that I AM ........ ?? this index is worrying!
You're right....I think we may have to suck up this PA until NFP.....and that will either make or break this bear trend.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,693
  • Edited 8:01am Jun 29, 2010 7:29am | Edited 8:01am
Quoting Mary Silvert
Now only missing one verbal intervention of Prime Minister, the qalquer moment we see Mr. Kan Naoto say a few words! example: "Companies would like a weaker yen and the range of 95 yen per dollar." Always been so this week he will give his opinion (verbal intervention). I follow this currency pair each 18 months, when it reached the range of 87 ~ 88 the Japanese government was on alert! Let's wait!
maybe its just an imagination or a conspiracy theory or whatever , just for light reading :

lets not forget that they all sat at G20 meetings and most of them are economically injured .. they are talking about belt thightening and increases in taxes in thier respective homeland ... all of them acknowledge that things are not like before the crises ... therefore they all might come up with some other deals and plans ...they all small talk on the sidelines with each other ... they might "nudge, nudge, nod, nod, and wink, wink " .. and before we know it ... politicians will do what they do best : flip- flop !

if it goes like u said , well and good ... but just in case , prepare for anything , things in real life are not linear

the previous world was confined by nationalistic ideals , now the view is globalised ... so the leaders meeting now will look at things globally .. set the tone ... while trying to appease thier respective voters with some morsels ...

for better or worse , we are all hooked in one way or another to these centralised agenda setters .

well come to a brave new world !

( just some cheekiness .. hahaha ! )

  • #16,694
  • Jun 29, 2010 7:33am Jun 29, 2010 7:33am
Quoting TheArcher
maybe its just an imagination or a conspiracy theory or wahtever , just for light reading :

lets not forget that they all sat at G20 meetings and most of them are economically injured .. they are talking about belt thightening and increases in taxes in thier respective homeland ... all of them acknowledge that things are not like before the crises ... therefore they all might come up with some other deals and plans ... they night "nudge, nudge, nod, nod, and wink, wink " .. and before we know it politicians will do what they do best : flip-...
That's true Archer, but at the end of the day, debt is debt, and Japan has an over abundance of it! They need a weaker Yen. The only questions are when will they act....and how will they act?

Of course if things change and the Yen weakens for other reason, then perhaps no action will be required.

It's a messy situation.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,695
  • Jun 29, 2010 7:58am Jun 29, 2010 7:58am
Quoting realjumper
That's true Archer, but at the end of the day, debt is debt, and Japan has an over abundance of it! They need a weaker Yen. The only questions are when will they act....and how will they act?

Of course if things change and the Yen weakens for other reason, then perhaps no action will be required.

It's a messy situation.

let's wait and see the events, as always
  • #16,696
  • Jun 29, 2010 8:02am Jun 29, 2010 8:02am
Quoting Mary Silvert
let's wait and see the events, as always
There's nothing much else we can do Mary. I have no position on this pair, and probably won't have until after NFP. Other pairs are easier to trade at the moment.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,697
  • Jun 29, 2010 8:03am Jun 29, 2010 8:03am
Quoting realjumper
That's true Archer, but at the end of the day, debt is debt, and Japan has an over abundance of it! They need a weaker Yen. The only questions are when will they act....and how will they act?

Of course if things change and the Yen weakens for other reason, then perhaps no action will be required.

It's a messy situation.
accountants and economists can be creative and manufacture too !
  • #16,698
  • Jun 29, 2010 8:05am Jun 29, 2010 8:05am
another range .. before drop ... ?
Attached Image
  • #16,699
  • Jun 29, 2010 8:05am Jun 29, 2010 8:05am
Quoting TheArcher
accountants and economists can be creative and manufacture too !
lol......true, true
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,700
  • Jun 29, 2010 8:09am Jun 29, 2010 8:09am
Quoting TheArcher
another range .. before drop ... ?
I can't post a chart right now, but 88.30 (ish) to 88.00 is pretty strong support. If that goes, I imagine that a good size drop will be possible.....
Doing what you like is Freedom. Liking what you do is Happiness.
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