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USD/JPY Discussion

  • #18,901
  • Sep 21, 2010 12:43am Sep 21, 2010 12:43am
Quoting Larseg
Dollar To Ascend As QEII Doesn't
By NICHOLAS HASTINGS
A DOW JONES NEWSWIRES COLUMN ...
That all sounds good....now.....lets see the talk converted into action!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,902
  • Sep 21, 2010 2:35am Sep 21, 2010 2:35am
Back in B...
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  • #18,903
  • Sep 21, 2010 2:46am Sep 21, 2010 2:46am
It's a big asian bank holiday all week. Maybe this is what the markets do when they don't have such a hand in it. I don't trust the Yen right now so I'm staying away from it for awhile.
  • #18,904
  • Sep 21, 2010 7:29am Sep 21, 2010 7:29am
I have read some of the recent posts about waiting on the BOJ. I hope they were written in jest and I just did not get the joke. NOBODY outside of a few politicians in Japan know what the BOJ's next move will be, if any. They may intervene again @ 85, or wait till it drops to 83, or some other number, or not at all. The point is, the BOJ has offically interveined to strengthen the yen. Their future action will have nothing to do with pivot points, EW's, or fib levels. If they chose to act again, it will be at a time and price of their own chosing. To trade UJ right now is not really trading. It is playing chicken with the BOJ. Small retail traders should consider another currency pair for the time being.

Regards,
  • #18,905
  • Sep 21, 2010 8:27am Sep 21, 2010 8:27am
Quoting FX-Petra
I have read some of the recent posts about waiting on the BOJ....
A very good point. Actually it is the JP bureaucrats who are in charge -- politicians are busy with next election. I think JP is still clandestinely intervening as of now. IMO, JP is very concerned with the US gov that would hate to see JP's obvious intervention. I'm almost sure that JP doesn't want to take a drastic action that they did last week, although they would do it again if yen goes down to 82-83.

I agree that we should stay away from yen. However, it is very tempting to catch a big breakout if that happens.
  • #18,906
  • Edited 9:19am Sep 21, 2010 8:56am | Edited 9:19am
Quoting TheArcher
demo sell


shot from 85.39

protection 85.60

target 85.19


(ignore EU ... took a gamble due to boredom ... )
loss 25 pips


(EU : of course, there is a method to the madness )


.
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  • #18,907
  • Sep 21, 2010 9:17am Sep 21, 2010 9:17am
will support 85.26 be broken ...?



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  • #18,908
  • Sep 21, 2010 9:29am Sep 21, 2010 9:29am
anyone familiar with Ross Hook care to comment on the daily chart ... ?

not familiar with it ... the pattern just popped out ... don't know if it is the Ross Hook or something else ...

am too tired and sleepy to check it out ....

.
  • #18,909
  • Sep 21, 2010 1:59pm Sep 21, 2010 1:59pm
Quoting FX-Petra
NOBODY outside of a few politicians in Japan know what the BOJ's next move will be, if any. They may intervene again @ 85, or wait till it drops to 83, or some other number, or not at all.

Regards,
From the statements they were making last week they have seemed to have drawn the line in the sand @ 82 so if it gets close to those levels again I would count on it. I wouldn't be surprised to see it happen before then though.
  • #18,910
  • Sep 21, 2010 2:05pm Sep 21, 2010 2:05pm
Close to open up a new position here now...
Yey!

Can't wait
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  • #18,911
  • Sep 21, 2010 3:52pm Sep 21, 2010 3:52pm
SL to BE....

This can go either way but since I am long and at BE I reckon this will go down.... Far to many like to magnet trade in this pair....
  • #18,912
  • Sep 21, 2010 3:54pm Sep 21, 2010 3:54pm
Talking about magnet trading, going long in gold from here...
  • #18,913
  • Sep 21, 2010 4:31pm Sep 21, 2010 4:31pm
Quoting forex_newguy
No doubt this will cause the dollar to move up against euro, but will it have same effect on yen if some risk aversion comes back into play ...
I hope this will take usd/jpy go more higher.

Guys many news said that US plan to do monetary easing, what kind of monetary easing actually thay are planning? And is this mean a weaker usd if this plan is rolled over?
  • #18,914
  • Sep 21, 2010 8:03pm Sep 21, 2010 8:03pm
I think we are headed back to 84.00
who raped silver !
  • #18,915
  • Sep 21, 2010 11:01pm Sep 21, 2010 11:01pm
USDJPY : sad for being kicked out prematurely yesterday

EURO : happy with the out come



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  • #18,916
  • Sep 21, 2010 11:05pm Sep 21, 2010 11:05pm
closed EURO .

how many pips is it in the euro lingo ... abit confused due to the 5 digit decimal

thanks .

(apologies for talking about euro in here .. sorry )
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  • #18,917
  • Sep 21, 2010 11:20pm Sep 21, 2010 11:20pm
Quoting FX-Petra
NOBODY outside of a few politicians in Japan know what the BOJ's next move will be, if any. They may intervene again @ 85, or wait till it drops to 83, or some other number, or not at all.
My opinion is that BOJ is pre-sterilising their USD purchases to avoid becoming the waste bucket of USD as China is moving out of it.

Last week, EURUSD, GBPUSD and Gold jumped dramatically 24h or more before the USDJPY intervention.

Today the same has happened. Whether this time was another preparation for USDJPY or just Federal reserve adjustment remains to be seen.

BOJ is effectively diversifying out of USD assets because they know this Fed money printing is going to go ballistic any time soon now.

So my advice is to look at the other USD pairs, imagine BOJ wants to be USD neutral to negative and then look for confirmation in USDJPY.

Currency trading appears more lethal than before imho.
  • #18,918
  • Sep 21, 2010 11:38pm Sep 21, 2010 11:38pm
Quoting TheArcher
closed EURO .

how many pips is it in the euro lingo ... abit confused due to the 5 digit decimal

thanks .

(apologies for talking about euro in here .. sorry )
About 150 pips more or less.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,919
  • Sep 21, 2010 11:49pm Sep 21, 2010 11:49pm
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  • #18,920
  • Sep 21, 2010 11:50pm Sep 21, 2010 11:50pm
Quoting realjumper
About 150 pips more or less.....


i was thinking if it was about 16 pips ( 1.331 - 1.315 = 0.016 ) ... now i know .

thanks
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