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USD/JPY Discussion

  • #18,641
  • Sep 14, 2010 9:40pm Sep 14, 2010 9:40pm
Quoting PipVip
If you use a tight stop you'll be OK. The challenge is to time the up and downs.

yea tight stops are ok until the price moves so fast you get filled 100 pips past your order ............

just tryin to help a few guys from blowin their accounts to smithereens!

its not a smart thing to trade a pair that is being intervened on, there will be extreme volatility in the days to come for uj.
  • #18,642
  • Sep 14, 2010 9:41pm Sep 14, 2010 9:41pm
The question is what do they mean by "continue to provide ample liquidity to the financial markets"?
Make your losses in demo. Earn your profits live.
  • #18,643
  • Sep 14, 2010 9:43pm Sep 14, 2010 9:43pm
Quoting Forexia
The question is what do they mean by "continue to provide ample liquidity to the financial markets"?

it means they will keep selling yen
  • #18,644
  • Sep 14, 2010 9:43pm Sep 14, 2010 9:43pm
Quoting mfoste1
you guys shouldnt even be playing this pair atm......anything goes w intervention, itll wipe out your entire acct.....

this was just a mini-intervention maybe couple hundred million.....wait till they do a big one, this could move 2-3 hundred pips in a matter of minutes

I even unsubscribed from this currency on my platform!
Very good advice. My long term long can stay, but my hit and run trade is cashed in. I'm out until further notice!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,645
  • Sep 14, 2010 9:45pm Sep 14, 2010 9:45pm
This is exactly what I hate...

The word socialist rings a bell. Let the lemmings get squeezed out, wring em dry, become one with their stops.

I see this as opening up a can of worms.
  • #18,646
  • Sep 14, 2010 9:45pm Sep 14, 2010 9:45pm
Quoting realjumper
Very good advice. My long term long can stay, but my hit and run trade is cashed in. I'm out until further notice!!
You and me both.
  • #18,647
  • Sep 14, 2010 9:47pm Sep 14, 2010 9:47pm
To add...

It was just a matter of time. Although I expected 77-76 to be the breaking point. It appears they lack the stomach.
  • #18,648
  • Sep 14, 2010 9:51pm Sep 14, 2010 9:51pm
Quoting mfoste1
it means they will keep selling yen
That's awesome! So we will know the future direction of Yen a bit!
Make your losses in demo. Earn your profits live.
  • #18,649
  • Sep 14, 2010 9:53pm Sep 14, 2010 9:53pm
I am thinking how would react big players on this move :-/
  • #18,650
  • Sep 14, 2010 9:53pm Sep 14, 2010 9:53pm
Quoting mfoste1
....there will be extreme volatility in the days to come for uj.
And take a look at EURJPY if you haven't already. 180 pip run there. May have to break from trading that one too.
  • #18,651
  • Sep 14, 2010 9:55pm Sep 14, 2010 9:55pm
Quoting Forexia
That's awesome! So we will know the future direction of Yen a bit!

its very likely that uj will be very very volatile esp if risk aversion mode goes into effect in the next couple weeks......just trade other pairs man instead of yen crosses. theyre hard enough to trade when boj isnt in the picture
  • #18,652
  • Sep 14, 2010 9:57pm Sep 14, 2010 9:57pm
Quoting TradeWell
And take a look at EURJPY if you haven't already. 180 pip run there. May have to break from trading that one too.

I second Mos's... comment. Will be quite sad to have an entire market timid of a currency pair, wondering if the big bad BOJ will screw up the natural order. As much as I enjoy taking on risk, this is beyond me. No way my account can even momentarily withstand the forces of a central bank.

I fancy an intervention free-for-all. A little bit here, a little bit there...no big deal.
  • #18,653
  • Sep 14, 2010 9:59pm Sep 14, 2010 9:59pm
Quoting mfoste1
......just trade other pairs man instead of yen crosses.
Extremely hard to do given, (at times**) the yen pair itself can have so much influence on the majors.
  • #18,654
  • Sep 14, 2010 10:01pm Sep 14, 2010 10:01pm
Quoting TradeWell
And take a look at EURJPY if you haven't already. 180 pip run there. May have to break from trading that one too.

i wonder how many accts will be blown trying to trade gj
  • #18,655
  • Sep 14, 2010 10:01pm Sep 14, 2010 10:01pm
Quoting TradeWell
And take a look at EURJPY if you haven't already. 180 pip run there. May have to break from trading that one too.
..... indeed, and as someone already said earlier, GBP/JPY is also keeping pace. If you look you will also find the Japan 225 Cash rising in same way which kind of makes sense for the market to grow stronger if the currency is weakening (even though it may be only for the short term) LOL

True, this is exciting, but I need to sleep and things do seem to have levelled out a bit. Hope we see some more action when London opens. Today (Tuesday) was slow and boring :-)
  • #18,656
  • Sep 14, 2010 10:02pm Sep 14, 2010 10:02pm
Quoting mfoste1
i wonder how many accts will be blown trying to trade gj
I haven't looked at that one in a while...ouch!
  • #18,657
  • Sep 14, 2010 10:04pm Sep 14, 2010 10:04pm
This thing is still moving hard, blowing past all resistance. How's that guy who got in at 82.92 doing? That must be one hell of a trade.

It's confirmed that's it intervention. I'm looking to short also but won't be touching this currency until I see some strong reversal signs.

http://420trader.net/?p=584
  • #18,658
  • Sep 14, 2010 10:04pm Sep 14, 2010 10:04pm
resistance area is breaking
  • #18,659
  • Sep 14, 2010 10:07pm Sep 14, 2010 10:07pm
Quoting mfoste1
i wonder how many accts will be blown trying to trade gj
Hopefully none! I don't like to see peoples accounts go up in smoke
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,660
  • Sep 14, 2010 10:11pm Sep 14, 2010 10:11pm
http://www.forexlive.com/132070/all/...-buying-usdjpy
Doing what you like is Freedom. Liking what you do is Happiness.
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