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USD/JPY Discussion

  • #17,281
  • Aug 3, 2010 2:11am Aug 3, 2010 2:11am
Quoting realjumper
Already did.....86.10 SL @ BE
Stopped out at BE+10

No more attempts at a long term long for now.....86.00 is under threat so it all likelihood it will capitulate.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,282
  • Aug 3, 2010 2:45am Aug 3, 2010 2:45am
it broke 86.00... crazy....
Steady as the beating drum,,,
  • #17,283
  • Aug 3, 2010 2:47am Aug 3, 2010 2:47am
I'm too waiting for BOJ interferance, I think that yen wouldnt go lower than now. I'm in long from here target is 88.5, sl 85http://2.bp.blogspot.com/_LbKfbdL8RY...0%B5%D0%BD.gif
  • #17,284
  • Aug 3, 2010 2:54am Aug 3, 2010 2:54am
The US$ continues to be the one in the scope, and is being traded on fundementals more than risk.

Two more reasons for further declines:
- New margin regulations for retail traders in Japan coming up
- DPJ being out in the media saying intervention is not sustainable
  • #17,285
  • Aug 3, 2010 3:01am Aug 3, 2010 3:01am
i hope it gives a long tail bullish candle... that would be a reversal..
Steady as the beating drum,,,
  • #17,286
  • Aug 3, 2010 3:13am Aug 3, 2010 3:13am
Don't bring hope into this.
Anyway, here's the links:
http://uk.reuters.com/article/idUKTKU10616720100730 (I'm not saying buying back JGB's is a good option though..)
http://uk.reuters.com/article/idUKTOE66T05C20100730
  • #17,287
  • Aug 3, 2010 3:20am Aug 3, 2010 3:20am
Quoting Rush
Don't bring hope into this.
Anyway, here's the links:
http://uk.reuters.com/article/idUKTKU10616720100730 (I'm not saying buying back JGB's is a good option though..)
http://uk.reuters.com/article/idUKTOE66T05C20100730
Just see at the price, it is near all time low at 79.75, I suppose that here is a good levels to buy, I'm risking only 100 pip but can earn 250 pip in a few days, I Think that this risk is justified.
  • #17,288
  • Aug 3, 2010 3:28am Aug 3, 2010 3:28am
This pair goes in lockstep with US treasury yields, and it has been doing so for the last months. So until those starts making a bottom I'm gonna stay mostly on the sideline.

DX is heavily oversold at this point, so I definitely wouldn't short it either.
  • #17,289
  • Aug 3, 2010 4:10am Aug 3, 2010 4:10am
Quoting Deanchain
it broke 86.00... crazy....
Yesh, as it looks.. this is crazy... dont know how far it will go..
  • #17,290
  • Aug 3, 2010 4:19am Aug 3, 2010 4:19am
Quoting cien_47k
Yesh, as it looks.. this is crazy... dont know how far it will go..
http://www.forexfactory.com/showthread.php?t=247338

The down trend will end by next Monday when market opens, the latest, if the unemployment rate number is good then maybe this Friday.

Price will settle at around 85, it shouldn't break below 83 in any case. Suggest to hold your short until this Friday then close it and go long.
  • #17,291
  • Aug 3, 2010 4:28am Aug 3, 2010 4:28am
Quoting WGann
http://www.forexfactory.com/showthread.php?t=247338

The down trend will end by next Monday when market opens, the latest, if the unemployment rate number is good then maybe this Friday.

Price will settle at around 85, it shouldn't break below 83 in any case. Suggest to hold your short until this Friday then close it and go long.
I don't know about any of that.....predictions aren't my forte.....however, NFP started this slide down from 92.80 in early July, so it would be nice if NFP was also the one to end the slide. But I wouldn't be counting my chickens just yet
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,292
  • Aug 3, 2010 5:31am Aug 3, 2010 5:31am
well i was definately wrong about last night..made 15 pips before watching it all collapse...2 yr telegraphed the punch.
  • #17,293
  • Aug 3, 2010 8:42am Aug 3, 2010 8:42am
I don't know whether any of you watch Bloomberg but they have these FX Masterclasses sponsored by FXPro. In one of the classes they talk about PPP (Purchasing Power Parity) and how it is used to work out if a currency is overvalued and this bloke comes on and says "Currencies can remain overvalued for many years. The Yen, for example, has been overvalued for 25 years"

Well it makes me laugh
Nothing worth having is easy.
  • #17,294
  • Aug 3, 2010 8:46am Aug 3, 2010 8:46am
Quoting Patience
..."Currencies can remain overvalued for many years. The Yen, for example, has been overvalued for 25 years"

...
  • #17,295
  • Aug 3, 2010 8:46am Aug 3, 2010 8:46am
Quoting Patience
I don't know whether any of you watch Bloomberg but they have these FX Masterclasses sponsored by FXPro. In one of the classes they talk about PPP (Purchasing Power Parity) and how it is used to work out if a currency is overvalued and this bloke comes on and says "Currencies can remain overvalued for many years. The Yen, for example, has been overvalued for 25 years"

Well it makes me laugh
LOL.....that bloke is obviously another rocket scientist!!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,296
  • Edited 11:54am Aug 3, 2010 11:30am | Edited 11:54am
like realjumper , prediction is not my forte either ...

will just wait for the turbulance to subside ...

anyway looking at usdjpy way back to 1978

http://cdn.forexfactory.com/attachme...7&d=1269101084
  • #17,297
  • Aug 3, 2010 11:32am Aug 3, 2010 11:32am
weekly chart

another 100 pips ( daily range ? ) to reach next support ... not impossible
Attached Image
  • #17,298
  • Aug 3, 2010 12:07pm Aug 3, 2010 12:07pm
hourly chart

taking a breather .... ?

creating support at 85.69...or preparing support by ranging ... and then plunge further down ?

the latest indicators are getting ...turning ... bullish ...?
Attached Image
  • #17,299
  • Aug 3, 2010 7:53pm Aug 3, 2010 7:53pm
I'm closing half of my long at a 60 pip loss. I will look to reenter @ the all time lows. it just looks as if today will be another down day imo and I don't want to deal with the DD, it was a small lot so not a big loss. better entry should come this week
  • #17,300
  • Aug 3, 2010 7:55pm Aug 3, 2010 7:55pm
Quoting uraceulose
I'm closing half of my long at a 60 pip loss. I will look to reenter @ the all time lows. it just looks as if today will be another down day imo and I don't want to deal with the DD, it was a small lot so not a big loss. better entry should come this week
I'm all out as well Donnie.....I'll wait until a bit of sanity returns to the market!!....
Doing what you like is Freedom. Liking what you do is Happiness.
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