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USD/JPY Discussion

  • #16,981
  • Jul 15, 2010 10:12pm Jul 15, 2010 10:12pm
I think it will drop further, break the 87 level.

I will be looking to sell this pair upon some bounce back.

Good luck all!
  • #16,982
  • Jul 15, 2010 10:36pm Jul 15, 2010 10:36pm
Quoting Rush
Took a round number trade since it usually works very good in this pair, but have already exited. The old trend seems to be back where you see no retrace, but instead sideways action between downmoves. BOJ is not going to intervene simply because it's no use.The trend is based on fundamentals, and any attempt to sell the yen will be seen as buying opportunity for others. It stays with the talk.
Can you explain what fundamentals you are talking about? Thanks!
  • #16,983
  • Jul 15, 2010 11:32pm Jul 15, 2010 11:32pm
Quoting realjumper
Hi,

No I trade pivots, s & r, fibs and trendlines. I do watch the candles though because they can give a hint as to what might happen.

The charting software I post here is mainly just because the charts are easy to see for posting purposes. I use MT4 as well but the charts are a pain to post sometimes.

The ones you see me post here come from Netdania, and they are free.....go here to see
Thanks, realjumper. Will look into netdania soon.
I am paying attention to S & R and trendlines.
Kind of poor in using pivots and fibs.
  • #16,984
  • Jul 16, 2010 12:00am Jul 16, 2010 12:00am
Quoting Abraham_Tian
Can you explain what fundamentals you are talking about? Thanks!
US$ is getting less attractive by the day. ECRI is pointing towards a new recession, manufacturing is already starting to loose steam, housing market with a terrible prospect, low interest-rate for an extended period which results in outflows to economies actually starting to expand.
  • #16,985
  • Jul 16, 2010 12:05am Jul 16, 2010 12:05am
The employment picture is downright ugly and it doesn't like it is going to improve much in the near future. it will probably get worse before it makes any significant improvement.

As for me I don't feel very secure about my job, things are realy slow right now. I have been putting money away for a rainy day instead of spending it.
  • #16,986
  • Jul 16, 2010 12:30am Jul 16, 2010 12:30am
FORECASTS USD/JPY
http://www.boj.or.jp/en/type/stat/bo...shi/tk1006.htm
  • #16,987
  • Edited 12:58am Jul 16, 2010 12:30am | Edited 12:58am
sitting on a very strong support ... might go into range for sometime? or break the floor ?
Attached Images
  • #16,988
  • Jul 16, 2010 12:40am Jul 16, 2010 12:40am
Quoting realjumper
Hi,

I trade pivots

do u use sydney as start of the day for ur pivot calculation , or ...?

can u give me a gist of how u use pivots ?

thanks .
  • #16,989
  • Edited 1:50am Jul 16, 2010 1:29am | Edited 1:50am
Quoting TheArcher
do u use sydney as start of the day for ur pivot calculation , or ...?

can u give me a gist of how u use pivots ?

thanks .
I use an australian based broker for my 'live' trading, but I use an American based broker for my charting. That way I can be sure that the pivots fit the majority. The pivots only work because everyone is watching the same thing.....it's a kind of 'self fullfilling prophesy', that's the reason I use an American based broker for charting.

The gist of using pivots is to enter long only, if we are above the pivot. Enter short only if we are below the pivot. There are exceptions of course, but I would need a good reason to go short from (say) R2. By a 'good reason' I mean that if the pair is way oversold AND at a fib line or some other convincing psyco line AND the pa looked bearish. Otherwise I would sit out the short and see what happens at the pivot.

There's quite a bit more to it than that, but that's the gist of it. If you're interested in learning more, send me a PM
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,990
  • Jul 16, 2010 1:32am Jul 16, 2010 1:32am
Quoting Mary Silvert
FORECASTS USD/JPY
http://www.boj.or.jp/en/type/stat/bo...shi/tk1006.htm
Very interesting Mary...thank you. You seem to be a detective for finding the fundamentals
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,991
  • Jul 16, 2010 1:33am Jul 16, 2010 1:33am
Quoting Rush
US$ is getting less attractive by the day. ECRI is pointing towards a new recession, manufacturing is already starting to loose steam, housing market with a terrible prospect, low interest-rate for an extended period which results in outflows to economies actually starting to expand.
But is the Yen in a better position?.....I think not
Doing what you like is Freedom. Liking what you do is Happiness.
  • #16,992
  • Jul 16, 2010 5:04am Jul 16, 2010 5:04am
http://uk.reuters.com/article/idUKTO...cyNews&rpc=401
  • #16,993
  • Jul 16, 2010 5:21am Jul 16, 2010 5:21am
May be it could be a good day for forming a hammer. UJ has reached the low DS2 at 86.489 (L 86.519). Take risk with 5 positions Enter Long at 86.65
  • #16,994
  • Jul 16, 2010 5:27am Jul 16, 2010 5:27am
Quoting Mary Silvert
http://uk.reuters.com/article/idUKTO...cyNews&rpc=401
And this is how the intervention worked out last time
Chart from: http://timingcharts.com/index.php
Attached Image (click to enlarge)
Click to Enlarge Name: JapaneseYen.png Size: 44 KB
"White collar crime deserves a blue collar beating!" - 8fingers
  • #16,995
  • Jul 16, 2010 5:28am Jul 16, 2010 5:28am
Well, this is going to be interesting if core CPI actually comes in hotter than consensus, since the yen have trimmed of 40 pips just the last hour.
  • #16,996
  • Jul 16, 2010 5:29am Jul 16, 2010 5:29am
Quoting DramaKing
And this is how the intervention worked out last time
What time frame is this chart?

Thanks heaps in advance.
  • #16,997
  • Jul 16, 2010 5:29am Jul 16, 2010 5:29am
Quoting Walt
Hi Guys,

I would like to start trading USD/JPY, could you help me getting pivots for this pair?

Thank you,

Walt
Hi Walt

Hope it helps.
Attached File(s)
File Type: mq4 PivotsD_v5.mq4   32 KB | 399 downloads
File Type: mq4 Murrey_Math_MT4_VG.mq4   11 KB | 397 downloads
  • #16,998
  • Jul 16, 2010 5:31am Jul 16, 2010 5:31am
Quoting forexstrah
What time frame is this chart?

Thanks heaps in advance.
Uploaded a new one Itīs monthly bars. Chart is from http://timingcharts.com/index.php
"White collar crime deserves a blue collar beating!" - 8fingers
  • #16,999
  • Jul 16, 2010 5:33am Jul 16, 2010 5:33am
Quoting trigg
Hi Walt

Hope it helps.
Thank you !

Best,

Walt
  • #17,000
  • Jul 16, 2010 5:40am Jul 16, 2010 5:40am
If you isolate the USD and YEN, you can see they are moving in opposite directions right now. This is probably one of the reasons we are seeing USDJPY going "down".

Unless the dollar strengthens and the YEN weakens at the same time... it will probably range.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: DXI.png Size: 44 KB
Click to Enlarge Name: YENindex.png Size: 44 KB
"White collar crime deserves a blue collar beating!" - 8fingers
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