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USD/JPY Discussion

  • #17,021
  • Jul 20, 2010 7:41am Jul 20, 2010 7:41am
I don't have a position here at the moment.....I missed my long term entry at 86.25-ish. Never mind.....wonder how this will go......
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,022
  • Jul 20, 2010 7:56am Jul 20, 2010 7:56am
I ended up taking a long position from the daily pivot. Lows on hourly chart are getting higher, bad news for the dollar keeps getting faded.
  • #17,023
  • Jul 20, 2010 8:03am Jul 20, 2010 8:03am
Quoting realjumper
I don't have a position here at the moment.....I missed my long term entry at 86.25-ish. Never mind.....wonder how this will go......
Haha! You beat me to it by a few minutes...

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I'm liking the way the lower trend line has been violated a few times today.
Gone to a better place
  • #17,024
  • Jul 20, 2010 8:07am Jul 20, 2010 8:07am
Quoting smikester
Haha! You beat me to it by a few minutes...

I'm liking the way the lower trend line has been violated a few times today.
LOL....well at least we're on the same page!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,025
  • Jul 20, 2010 11:06am Jul 20, 2010 11:06am
maybe i am bit late to class ... but i detect an ascending triangle ..

" Regardless of where they form, ascending triangles are bullish patterns "
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  • #17,026
  • Jul 20, 2010 11:34am Jul 20, 2010 11:34am
i agree completely with this page " http://www.forexfactory.com/news.php?do=news&id=246501 " .. got similar intuition on the triangle pattern break, the way i see it, which i do hope i am right, it's testing to 87.6 then later 87.92, before voila level 88.. 88.16 would be a tough one along with 87.92.. on the downside, 86.58, 86.17 would prolly be tested before heading to 85.25. just my 2cents folks..
  • #17,027
  • Jul 20, 2010 8:34pm Jul 20, 2010 8:34pm
Quoting TheArcher
maybe i am bit late to class ... but i detect an ascending triangle ..

" Regardless of where they form, ascending triangles are bullish patterns "
Yep, it seems that we are all watching the same thing......this good because we either all sink or all swim.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,028
  • Edited 12:59am Jul 21, 2010 12:28am | Edited 12:59am
Daily :

1) divergence of MACD and histogram(Osma) = bullish ?
2) stocs bullish
3) notice the doji follwed by engulfing candle at the bottom of the latest downtrend = strong reversal ?

Hourly :

1) will it obey the latest upward channel , and fall back to 86.90 region ?
2) or stablise at 87.10 region (coming out of ascending triangle) and blast from there due to impetus from histogram(OsMA) and stocs ?
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  • #17,029
  • Jul 21, 2010 4:10am Jul 21, 2010 4:10am
Little by little....bit by bit.....
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,030
  • Jul 21, 2010 5:19am Jul 21, 2010 5:19am
UJ seems to be a good price to get in with Enter Long at 87.01 with 5 positions. H4 is showing an ascending channel where market price has touch the bottom line just now.
  • #17,031
  • Jul 21, 2010 5:35am Jul 21, 2010 5:35am
Quoting trigg
UJ seems to be a good price to get in with Enter Long at 87.01 with 5 positions. H4 is showing an ascending channel where market price has touch the bottom line just now.
"5 positions??????"......sooner you than me!!!! I agree with your analysis owever......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,032
  • Jul 21, 2010 6:12am Jul 21, 2010 6:12am
Quoting realjumper
"5 positions??????"......sooner you than me!!!! I agree with your analysis owever......
Hi realjumper

Hope we'll earn our profits. If not so some trades could be running for curry trades for several weeks.

Keep it up!
trigg
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  • #17,033
  • Jul 21, 2010 6:28am Jul 21, 2010 6:28am
Quoting trigg
Hi realjumper

Hope we'll earn our profits. If not so some trades could be running for curry trades for several weeks.

Keep it up!
trigg
Trigg, can you explain da fundamentals for da decline in values for all the currency pairs?
  • #17,034
  • Jul 21, 2010 6:31am Jul 21, 2010 6:31am
For position traders here or options traders, I think it's highly likely to reach 90.00 within the next 6 months.

You can see it's really testing 86.95 from that stop and reverse from this level on the first of July, and then the other big level of 86.70. Short term it's testing the waters to see which direction, if any, to take.

Just my opinion.
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Probability Professor
  • #17,035
  • Jul 21, 2010 6:43am Jul 21, 2010 6:43am
There is quite a bit of volume for little movement which shows there's a lot of pushing and shoving between the bulls and the bears at the moment; a fight; indecision.
Probability Professor
  • #17,036
  • Jul 21, 2010 6:44am Jul 21, 2010 6:44am
Quoting Faith3
Trigg, can you explain da fundamentals for da decline in values for all the currency pairs?
A sell off in US equities has caused people to buy the JPY in risk aversion.
Probability Professor
  • #17,037
  • Jul 21, 2010 6:47am Jul 21, 2010 6:47am
Quoting Galation
For position traders here or options traders, I think it's highly likely to reach 90.00 within the next 6 months.

You can see it's really testing 86.95 from that stop and reverse from this level on the first of July, and then the other big level of 86.70. Short term it's testing the waters to see which direction, if any, to take.

Just my opinion.
Sounds good man....but I'd take it a step further......I think 95 -100 is easily on the cards in the next 6 months. Once the shit from EU dies down and people realise that the Japan debt/unemploymet issue is huge.....aaaand, Japan is forced to sell it's bonds on the open market as opposed to the domestic market as has been the case thus far...the Yen will tumble, imo fwiw
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,038
  • Jul 21, 2010 6:53am Jul 21, 2010 6:53am
Quoting realjumper
Sounds good man....but I'd take it a step further......I think 95 -100 is easily on the cards in the next 6 months. Once the shit from EU dies down and people realise that the Japan debt/unemploymet issue is huge.....aaaand, Japan is forced to sell it's bonds on the open market as opposed to the domestic market as has been the case thus far...the Yen will tumble, imo fwiw
It's just a matter of time, but I like to state very high probability trades and the 90.00 target is very high probability, in my opinion. So one could take a position now or cost average into the position and T/P at 90.00 and let it run; long term.

At the moment it's in a clear down channel on the 15 min. A break of this would create some faster movement, up or down.
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Probability Professor
  • #17,039
  • Jul 21, 2010 6:57am Jul 21, 2010 6:57am
Quoting Galation
A sell off in US equities has caused people to buy the JPY in risk aversion.
Thanks for the explanation, Galation I'm still holding onto my LONG position, didn't expect that sudden drop a while back
  • #17,040
  • Jul 21, 2010 7:18am Jul 21, 2010 7:18am
Quoting Galation
It's just a matter of time, but I like to state very high probability trades and the 90.00 target is very high probability, in my opinion. So one could take a position now or cost average into the position and T/P at 90.00 and let it run; long term.

At the moment it's in a clear down channel on the 15 min. A break of this would create some faster movement, up or down.
Absoluetely

I'm looking for a good long term long entry, and when find one, if I find one, I'll let it run to 100 while I carry on trading as per usual. Of course I will keep my SL in profit. I had such an entry a while back, but it got stopped out at +50...which goes to show how much I know!!!...lol....
Doing what you like is Freedom. Liking what you do is Happiness.
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