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USD/JPY Discussion

  • #17,641
  • Aug 14, 2010 5:58am Aug 14, 2010 5:58am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Possible bottom formed this week at 84.72.
Trendline down originating from the highs of May 5th at 94.97 needs to be broken to confirm this view, currently around 86.50-60.
Price allready closed above 33 and 60 DMA on 4 hour chart.

Went long one position since 85.77 with SL moved to 85.85 (bought the bounce of the 60DMA on the hourly).
Will add to this position if trendline at 86.50-60 gets indeed broken this coming week. See chart:
Attached Image (click to enlarge)
Click to Enlarge Name: trendline_resistance.gif Size: 53 KB
Being right is one, taking it from the table is two.
  • #17,642
  • Aug 14, 2010 7:38am Aug 14, 2010 7:38am
Quoting TheArcher
saturday cheekiness ....

until then visualized Patience was some Old Sage from the Mountain of Experience ....long white beard, flowing white robe ... calm, wise and serene ...
Whatcha talkin' 'bout Willis? Don't you be stalking me in the mountains now
Nothing worth having is easy.
  • #17,643
  • Aug 14, 2010 8:44am Aug 14, 2010 8:44am
Quoting Patience
Whatcha talkin' 'bout Willis?
didn't know that Kimberley (Dana Plato) also passed away ...

tragic indeed ... really .. different people ....different strokes .. by hands of destiny

lets be thankful, be grateful to all that we have ...

RIP ( both of them )
  • #17,644
  • Aug 14, 2010 9:02am Aug 14, 2010 9:02am
Quoting Now
Possible bottom formed this week at 84.72.
Trendline down originating from the highs of May 5th at 94.97 needs to be broken to confirm this view, currently around 86.50-60.
weekly chart

holding similar view ... think it might range awhile before moving up

... just keeping at the back of the mind the 80.00 point article a few days back ...

anything can happen , right ..?
Attached Image (click to enlarge)
Click to Enlarge Name: uj11.gif Size: 10 KB
  • #17,645
  • Aug 14, 2010 9:46am Aug 14, 2010 9:46am
Few years ago, during GJ spike from 240 to 250.....all stupid news talking about 260.

Same as EU, when EU hit 1.6 on July 2008, stupid Currency Analyse talking about 1.7.

They throw stupid news, just to manipulate the market sentiment.

Now it happen again.

They have hidden agenda.


Quoting TheArcher
weekly chart

holding similar view ... think it might range awhile before moving up

... just keeping at the back of the mind the 80.00 point article a few days back ...

anything can happen , right ..?
  • #17,646
  • Aug 14, 2010 9:48am Aug 14, 2010 9:48am
Quoting PandoraBox
Few years ago, during GJ spike from 240 to 250.....all stupid news talking about 260.

Same as EU, when EU hit 1.6 on July 2008, stupid Currency Analyse talking about 1.7.

They throw stupid news, just to manipulate the market sentiment.

Now it happen again.

They have hidden agenda.
good point.
  • #17,647
  • Aug 14, 2010 9:50am Aug 14, 2010 9:50am
Quoting TheArcher
good point.

Just follow your chart.....
  • #17,648
  • Aug 14, 2010 8:34pm Aug 14, 2010 8:34pm
just FYI:

http://www.bloomberg.com/news/2010-0...wth-slows.html

daily, weekly and monthly trends start changing by moving the trends of 1 min, 5 min, 15 min, 1 hr, 4 hr chart first..
Steady as the beating drum,,,
  • #17,649
  • Aug 14, 2010 10:51pm Aug 14, 2010 10:51pm
Quoting PandoraBox
Just follow your chart.....
also a good point
  • #17,650
  • Aug 14, 2010 11:11pm Aug 14, 2010 11:11pm
Hello good people and traders

USD index revesal looks pretty solid for the bulls. A tiny pullback is expected before further demand kicks inn.

Oil went down to 75 so probably heading for 60 if 72-70 breaks..

DAX looks pretty bear even that the daily had HH and LL (fake candle)?

The only thing which is a concern in my eyes is the S&P 500 which had no LL (lower lows) on the daily... And gold did not break last days high...

USDJPY daily has a nice formation for bulls with HH-HL

score: bull/bear 4/2 Conclusion: waiting for pullback, then buy.
  • #17,651
  • Aug 14, 2010 11:42pm Aug 14, 2010 11:42pm
Quoting Larseg
Hello good people and traders

USD index revesal looks pretty solid for the bulls. A tiny pullback is expected before further demand kicks inn.

Oil went down to 75 so probably heading for 60 if 72-70 breaks..

DAX looks pretty bear even that the daily had HH and LL (fake candle)?

The only thing which is a concern in my eyes is the S&P 500 which had no LL (lower lows) on the daily......

I agree, the one concern I have is the fact that a majority of the positions are long. I think we will see a large move down clearing some of the small fish positions before a huge move up.
  • #17,652
  • Aug 15, 2010 1:05am Aug 15, 2010 1:05am
Quoting PandoraBox
Don't follow news call. 'They' have hidden agenda - To Buy at cheap price.

let me see if you are right ......


clock will give the result !


basically ，i think :the global economic recovery is perhaps slowing ,but soon everything is ok .
  • #17,653
  • Aug 15, 2010 1:59am Aug 15, 2010 1:59am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting TheArcher
weekly chart

holding similar view ... think it might range awhile before moving up

... just keeping at the back of the mind the 80.00 point article a few days back ...

anything can happen , right ..?
Anything is possible, this is FX.
Be prepared for the unexpected, use SL and lock in profits in time.
There is always another opportunity around the corner.
Being right is one, taking it from the table is two.
  • #17,654
  • Aug 15, 2010 2:00am Aug 15, 2010 2:00am
  •  Now
  • | Joined Aug 2006 | Status: 'I should have taken the money' | 654 Posts
Quoting PandoraBox
Few years ago, during GJ spike from 240 to 250.....all stupid news talking about 260.

Same as EU, when EU hit 1.6 on July 2008, stupid Currency Analyse talking about 1.7.

They throw stupid news, just to manipulate the market sentiment.

Now it happen again.

They have hidden agenda.
The list of market manipulative news is indeed extensive and growing
Being right is one, taking it from the table is two.
  • #17,655
  • Aug 15, 2010 5:54am Aug 15, 2010 5:54am
good news or bad news

http://noir.bloomberg.com/apps/news?...d=a420mXfGaz6o
  • #17,656
  • Aug 15, 2010 6:10am Aug 15, 2010 6:10am
Quoting JohnnyC0404
I agree, the one concern I have is the fact that a majority of the positions are long. I think we will see a large move down clearing some of the small fish positions before a huge move up.
I think a lot of Small fish position is allready erased(i almost erased also lol) but now i think the japan gov and boj will look at this problem more seriously and i think we allready see the bottom. It is crazy if the japan goverment let this pair to go lower then 84.xx. I will put more long if this pair reach 85.00 again.
  • #17,657
  • Aug 15, 2010 7:44am Aug 15, 2010 7:44am
Quoting yeri
I think a lot of Small fish position is allready erased(i almost erased also lol) but now i think the japan gov and boj will look at this problem more seriously and i think we allready see the bottom. It is crazy if the japan goverment let this pair to go lower then 84.xx. I will put more long if this pair reach 85.00 again.

Instinctively I see one more fake out, then a strong move upward. I cant wait to see what happens this week!
  • #17,658
  • Aug 15, 2010 8:08am Aug 15, 2010 8:08am
Interesting article:

Eisuke Sakakibara, formerly Japan’s top currency official, said the yen may rise to a record 79.75 against the U.S. dollar due to concerns over the health of the U.S. economy.

http://www.bloomberg.com/news/2010-0...-s-dollar.html
  • #17,659
  • Aug 15, 2010 9:15am Aug 15, 2010 9:15am
http://noir.bloomberg.com/apps/news?...iIqyn7TY&pos=2

looks like yen is going to break 85
  • #17,660
  • Aug 15, 2010 9:17am Aug 15, 2010 9:17am
Quoting cloggie
Interesting article:

Eisuke Sakakibara, formerly Japan’s top currency official, said the yen may rise to a record 79.75 against the U.S. dollar due to concerns over the health of the U.S. economy.

http://www.bloomberg.com/news/2010-0...-s-dollar.html
haha, i didn't see you posted that article already. shorting dollar-yen seems like the right move here...
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