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USD/JPY Discussion

  • #19,061
  • Sep 24, 2010 3:53pm Sep 24, 2010 3:53pm
I took a U/J long position to hold over the weekend too...and I never do that. But this is an extreme circumstance with the BOJ intervention possibility and all.
Quoting USD-Bear
Haha, yes we agreed on large gaps next Monday, uh was it up or down, have to recheck..., thanks malc and good weekend
  • #19,062
  • Sep 24, 2010 4:17pm Sep 24, 2010 4:17pm
Anyone wanna bet if BOJ has bigger balls than SNB ?...
  • #19,063
  • Sep 24, 2010 6:23pm Sep 24, 2010 6:23pm
Has anyone seen XE.com at 7:00PM EST. UJ has dropped to 82.8 down about 140 PIPS since close. Any ideas or is XE just messed up
  • #19,064
  • Sep 24, 2010 6:30pm Sep 24, 2010 6:30pm
Quoting ccmike
Has anyone seen XE.com at 7:00PM EST. UJ has dropped to 82.8 down about 140 PIPS since close. Any ideas or is XE just messed up
Im seeing the same thing, caught my eye 30 mins ago.... An oddity, although I fancy it'll snap back to closing rates. It happens sometimes at xe.com
  • #19,065
  • Sep 24, 2010 8:02pm Sep 24, 2010 8:02pm
Looks very strange movement.
BBC website also showing the same price of USDJPY 82.8,however bloomberg showing 84.2

can anyone confirm what is the real price?
  • #19,066
  • Sep 24, 2010 9:34pm Sep 24, 2010 9:34pm
Quoting asimsattar
Looks very strange movement.
BBC website also showing the same price of USDJPY 82.8,however bloomberg showing 84.2

can anyone confirm what is the real price?
84,2 the real price..

next week will break 83 if there is no intervention from BOJ..
They are so slow..
  • #19,067
  • Sep 24, 2010 10:16pm Sep 24, 2010 10:16pm
Quoting malcolmb14

..... almost looks like accumualtion .
accumulation and distribution :

this is one topic i am grappling with for a long time and yet to grasp it ...

can u please tell me precisely what to look out for in ascertaining when accumulation is going on and when distribution is going on ?

thank you .
  • #19,068
  • Sep 24, 2010 10:24pm Sep 24, 2010 10:24pm
Quoting realjumper
Just roughly....the move started at 3130 and ended at 3280, That's 150 pips.....I don't pay any notice to the 5th decimal

just a mental note :

Euro pips : (Difference of last 3 digits) divided by 10 = number of pips

1.33225



.
  • #19,069
  • Sep 24, 2010 10:31pm Sep 24, 2010 10:31pm
Quoting georgetok

My question is : if USD/JPY dropped from 85.92 to 85.12.

Is that a drop of 80 Pips ?

yes, u r correct .


Quoting georgetok
I see some charts with 3 digits & some 2 digits. So which one is correct ?

don't know . most of us here use MT4 and we stick to 2 decimal places (eg 85.92)

(we read as 1USD = JPY 85.92 --- 1USDJPY85.92 )
  • #19,070
  • Edited 1:51am Sep 25, 2010 1:28am | Edited 1:51am
Quoting USD-Bear
Couldn't resist, took a long @ 84.268
SL 83.49
TP open
Have a good weekend all!
Me either. I always strive to have no open positions over the weekend except in rare cases, like when I have a long term trade in play which I do on this Pair, but I thought I would add another.

I'm in @ 84.36. I figured what the hell. It seems to be around a good support level, I have done good on this Pair in the last month or so, why not. The downside seems minimal compared to the upside potential.

This pair is not going to drop below 82, yes I'll take them at their word, and 83 seems more likely when they will intervene strongly if not above that. All things being equal it seems to be a good area to make a stand.
  • #19,071
  • Sep 25, 2010 1:37am Sep 25, 2010 1:37am
Quoting georgetok

I see some charts with 3 digits & some 2 digits. So which one is correct ?

Thank you guys.

George
More than likely they both are.

84.25 or 84.254, same thing.
  • #19,072
  • Sep 25, 2010 2:11am Sep 25, 2010 2:11am
Quoting Warwick
Im seeing the same thing, caught my eye 30 mins ago.... An oddity, although I fancy it'll snap back to closing rates. It happens sometimes at xe.com
Rate quote at Xe.com is interbank rate at current time. If we look at others' websites they may quote old price closing rate on Friday. Base on my observations, we will be likely to have an opening gap down and rate will gradually going down to 82.80 or lower unless BOJ intervene on the way it goes down (it is likely event ).

If we look at daily chart, USDJPY hit daily down TL and continuously going down (the last spike also missed that TL 10 pips). It looks like the intervention did not work, it could not change the trend because fundamentally USD is weaker than JPY. I will change my bias on this pair if its down TL was broken.

My strategy is not to guess at what rate they will intervene but I will chase the price on the way down by set an pending limit order 50 pips above current rate with 20 pips SL and TP at 10 pips below down TL. By that way I can capture the spike whenever the intervention is happen.
  • #19,073
  • Sep 25, 2010 2:18am Sep 25, 2010 2:18am
I'm getting a live quote @ 84.16--84.21.
  • #19,074
  • Sep 25, 2010 6:11am Sep 25, 2010 6:11am
Quoting Astroman
...
This pair is not going to drop below 82,...
So you assume ...?
  • #19,075
  • Sep 25, 2010 10:24am Sep 25, 2010 10:24am
Quoting ccmike
Has anyone seen XE.com at 7:00PM EST. UJ has dropped to 82.8 down about 140 PIPS since close. Any ideas or is XE just messed up
It shows the minimum was 82.8 atleast for 8 hours and then back to 84.2. Dont scare me............
Attached Image (click to enlarge)
Click to Enlarge Name: UJ82.8..huh.JPG Size: 49 KB
  • #19,076
  • Sep 25, 2010 8:46pm Sep 25, 2010 8:46pm
Quoting TheArcher
yes, u r correct .





don't know . most of us here use MT4 and we stick to 2 decimal places (eg 85.92)

(we read as 1USD = JPY 85.92 --- 1USDJPY85.92 )
Thank You guys. I appreciate it.

Never used MT4 though but heard it is supposed to be good.
  • #19,077
  • Sep 25, 2010 9:25pm Sep 25, 2010 9:25pm
Anyone know what Shirakawa said? Was it the same old blah, blah, blah, we will intervene if needed, blah, blah?

Wonder what the open will be bring tomorrow on this pair??
  • #19,078
  • Sep 26, 2010 1:13am Sep 26, 2010 1:13am
BOJ cheating forex tradaers specially new ones like me , by announcing to do intervention & then doing NOTHING. Profesional traders are familiar with those propagandas & do not enter any position by hearing their lies but less experieced trader believe those words & enter long positions, as this time thousands of traders enterd into long positions & because of nothing done by BOJ most of their accounts became CALL!..It seems this kind of propagondas are prepared only to cheat retails traders in order to make profit to BOJ because when all of us enter long positions the BOJ enters to short ones.
  • #19,079
  • Sep 26, 2010 2:22am Sep 26, 2010 2:22am
Quoting uptrendup
BOJ cheating forex tradaers specially new ones like me , by announcing to do intervention & then doing NOTHING. Profesional traders are familiar with those propagandas & do not enter any position by hearing their lies but less experieced trader believe those words & enter long positions, as this time thousands of traders enterd into long positions & because of nothing done by BOJ most of their accounts became CALL!..It seems this kind of propagondas are prepared only to cheat retails traders in order to make profit to BOJ because when all of us...
Live and learn,eh?...
  • #19,080
  • Sep 26, 2010 3:28am Sep 26, 2010 3:28am
Quoting uptrendup
BOJ cheating...

Now your just looking to explain why your long trade is in deep drawdown. LOL

If the game was meant for rookies to come in and win then it wouldn't be a game would it? We would have gold plates to eat from and would trade it in for a plastic plate because everything would be backwards.


Logically Im sure BOJ is seeing the tunnel and knows where we are headed. They are just trying to pull last straws to avoid the inevitable. Obviously 2.5 trillon dollars a day says no.

edit: if they knew anything about market psychology they would let it take a sharp dive to change trends. We all know the long term trend is down they are just trying to avoid a historical low. The more they do about it the worse it will be.
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