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USD/JPY Discussion

  • #19,941
  • Oct 10, 2010 9:00pm Oct 10, 2010 9:00pm
I expect long punters hitting the market hard late tonight and early into the Tokyo market opening tomorrow.
who raped silver !
  • #19,942
  • Oct 10, 2010 9:20pm Oct 10, 2010 9:20pm
Quoting PipMaxzz
haha....good question. you test the limit of fx experts. i am not an expert. but i want to know what is the minimum it can go to
zero on the table...

thing can not go up for sure heading down...

i`am long all the way down my stop 1 pip below zero
  • #19,943
  • Oct 10, 2010 9:26pm Oct 10, 2010 9:26pm
India may intervene in the foreign exchange market if capital flows “disrupt” the economy, the central bank’s governor, Duvvuri Subbarao, said after the rupee rallied to be Asia’s best performer of the past month. “If the inflows are lumpy and volatile or if they disrupt the macroeconomic situation, we will do so,” Subbarao said in a panel discussion at the International Monetary Fund in Washington on Oct. 9. “We’ve not found the need to intervene so far,” he told reporters. The rupee gained 5 percent against the dollar in the past month as global funds pumped a record $21 billion into Indian stocks this year on optimism about the South Asian’s nation’s growth prospects.

he said that at the IMF .


only those from japan can not do any anything... they were unable to say it frankly...

the art of watching their best.
  • #19,944
  • Oct 10, 2010 10:29pm Oct 10, 2010 10:29pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting FibbinArchie
Any elliotticians care to comment?
I got this from a Japanese trader blog. This is their prediction using monthly graph. Be prepare and practice If and then.
Attached Image (click to enlarge)
Click to Enlarge Name: 080317usdjpymonth.jpg Size: 219 KB
Shake it off!Lick the Wound,Prey Again!
  • #19,945
  • Oct 10, 2010 10:54pm Oct 10, 2010 10:54pm
that chart only goes to 2007 ??????????????????
who raped silver !
  • #19,946
  • Oct 10, 2010 11:16pm Oct 10, 2010 11:16pm
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
He predicted USDJPY might go to 77.64 yen is based on:
1. time cycle
2. wave pattern
3. price target
observation using monthly chart.
There isn't any economical and political view to be based upon.How true is it? We only used the information provided and make a precaution to the trades if we had entered.
Shake it off!Lick the Wound,Prey Again!
  • #19,947
  • Oct 10, 2010 11:18pm Oct 10, 2010 11:18pm
Seems to be a very tight wedge on the 15m. Wonder which way it will break. I am leaning toward the downside based on overall trend and previous rejections of upper trendline.
  • #19,948
  • Oct 10, 2010 11:27pm Oct 10, 2010 11:27pm
Quoting bug
Just popping in to say goodbye to the yen.

.... conflicting press releases ...

Anyway, the losses, both psychological and monetary prove that:
First, don't trade what you don't understand.
Second, never ever trust a politician (we all knew that before, didn't we?)....

.....I'm angry with myself, I should've known better....

Good luck to the rest of you!
sorry to hear of ur bad experience.

yes , all us go through this type of period at one point in time or another .

cheer up ! .. at least u are now wiser .. and able to identify ur mistakes and will even wiser not to make the mistakes again .

to add to ur list : learn more to read the chart and rely less on the news and all the noise .... fix ur timeframe and time horizon to suit ur personality ..

the other currencies are no different either ...

good luck to you ! trade well !

never say never !

  • #19,949
  • Oct 10, 2010 11:53pm Oct 10, 2010 11:53pm
just watching ...... no conclusions made .... just watching ..

macd, osma ,and stocs on higher timeframe look bullish ...

just keeping an eye on the 'pin bar' effect ...

looking at the trendline support on the daily ...

noticing the weak volume ...

keeping watch on the 82.00 area for any penetration upwards or downwards through the trendline resistance / support ....

.......
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  • #19,950
  • Oct 11, 2010 12:06am Oct 11, 2010 12:06am
Quoting PipMaxzz
haha....good question. you test the limit of fx experts. i am not an expert. but i want to know what is the minimum it can go to
0 and infinity are the asymptotes

0 is the point when the american government no longer honors it's pledge on the dollar. inifinity is the point when japan's government no longer honors it's pledge on the yen.
  • #19,951
  • Oct 11, 2010 12:39am Oct 11, 2010 12:39am
japanese bank holiday sucks : p
Hero calls followed by margin calls...
  • #19,952
  • Oct 11, 2010 12:41am Oct 11, 2010 12:41am
Quoting pqt
You guys really crack me up with all your whining. You have been taken for a ride and keep sitting there rationalizing about an intervention that would make you all millionaires overnight. Get a grip on it and start trading UJ like any other pair with proper MM and stop losses or get out altogether until the whole mess clears up.
Just my 2 cents...
Could not say it better.
Putting a trade and presume that someone will move the market in my direction later, how can anyone with brains trade like that? How can anyone blame BOJ that it did not intervene? Do trades know anything about BOJ reasons? Do trades know anything about the ratio of the loans due in yens or USD? Blowing accounts on YEN on BOJ assumptions is the most stupid beginner's error and as such deserves to be punished accordingly...
  • #19,953
  • Oct 11, 2010 12:44am Oct 11, 2010 12:44am
Quoting Megara
He predicted USDJPY might go to 77.64 yen is based on:
1. time cycle
2. wave pattern
3. price target
observation using monthly chart.
There isn't any economical and political view to be based upon.How true is it? We only used the information provided and make a precaution to the trades if we had entered.
...and
4. zodiac signs
The Market pays you to be disciplined
  • #19,954
  • Oct 11, 2010 12:56am Oct 11, 2010 12:56am
Quoting kzazs
Faelnirv & DMV Trader, Great so both of you believe that there is no too high or too low in forex. Are you really sure-------------- Lets work with the speculators to get it down to zero. Why is everyone worried about 80 or 75, why not 60 or 50 or 30 or 10 or even Zero.

USD/JPY is at 81 lets all wait for it to drop to Zero. Then we all can buy.

I am sure that there is no too high or too low in forex, except for the spot trading, I barely call this "trading", since its just a contract to buy or sell, you never really get the commodity you are buying or selling...technically we are just betting whether its going to go up or down.
i don't even think they put our orders in the market, instead, the broker just trade against us.
nevertheless, the exchange prices will never get to 0 ever... its forex fiction.
even if you have 100 indicators, arrows, etc in the chart there is no telling you are going to win or lose.... make your position, put SL and TP, and go do real economy business...with proper system and money management you will win in the long run.
  • #19,955
  • Oct 11, 2010 1:22am Oct 11, 2010 1:22am
  •  Megara
  • | Joined Sep 2009 | Status: MOMENTUM'S THE GODFATHER OF TRADING | 759 Posts
Quoting mima
...and
4. zodiac signs
good joke. Now BOJ and staffs are having sports day to keep fit so tomorrow they have alert mind whether to intervene? or not
Shake it off!Lick the Wound,Prey Again!
  • #19,956
  • Oct 11, 2010 7:34am Oct 11, 2010 7:34am
THE MAIN REASON :why i posted a reply today is that my information is confirmed from couple of days that the japanese finance minister in a meeting with the central bank and other politicians having a very strong relation ship with japanese banks agreed to simply start an invisible intervention every time the market start a Dip without intending to change it's direction ,so they buy dollars and push the pair 40 or 30 pips higher then they wait for minutes if the buyers aren't entering to push higher they will simply sell the same amount of dollars they bought previously , i wanted to be sure about the information i concluded so i did several calls inorder to see what is the real perspective in japan according to polititians and ordinary depositors ,they all fully agreed on my point and gived me the details about the meetings I've stated previously ...

Moreover ,who wants to be sure i use only the 1 min chart that chart indicates who are the sources of buyers or sellers and every single trader could enter and monitor the price changes of this pair when it first reached the 84 levels the same source is buying and selling in a gradual manner this never happens in ordinary cases it's only when group of funds with the full approval of the central bank trades the currency inorder to fool the individual traders money since when we loose they simply win...
THE INTERVENTION DONE ON SEP 15 WAS FOR INNER POLITICAL REASONS inorder to send messages inside japan that the government could handle the problem ,this confirm that all traders should put politics ,law and technical all in their mind when they open any position at any currency...


DESPITE ALL THAT THE REPUTATION OF THE JAPANESE FINANCE MINISTER IS IN THE GROUND WITH THE WHOLE CABINET THIS IS WHY THEY ARE PUSHING THE PAIR TO THE 82 LEVEL THAT HE STATED ON 15 SEP TO BE THE FLOOR BUT IT DIDN'T...

FOR ALL THESE REASONS AND MORE:
No one who opened a buy position on the usd/yen should close his position on a loss even if he bought it at 84 or 83 instead cover your position and simply leave it open and go and sleep,who opened a 10000 contract should simply have a 2500 dollars in their account so they are covered by 2500 pips on the downside thus the rollover for them is positive ,no one should forget that this pair in few month before the fed starts raising rates it could easily reach 105 levels so no need to be afraid...
  • #19,957
  • Oct 11, 2010 8:57am Oct 11, 2010 8:57am
Quoting rudolph
THE MAIN REASON :why i posted a reply today is that my information is confirmed from couple of days that the japanese finance minister in a meeting with the central bank and other politicians having a very strong relation ship with japanese banks agreed to simply start an invisible intervention every time the market start...
disagreed..what happen at 83.60 area when open gap after ~2hr London open on Friday? Who is that seller? its already plan mate....n it already shown in weekly trend....

i am not suprice if the price could go even 66-55 by Q3/4 next year...good luck....while EY ready for 105 as well as GY ~ 123-118 area by Q1 next year...bare in mind since when all crosschange to bull in overall trend.....bearish keep continue right? so my chart say none of flag of reversal, so i trade base on what i saw from my chart....that it

just my 2 cent
  • #19,958
  • Oct 11, 2010 9:12am Oct 11, 2010 9:12am
after long bearish rally, there isn't any significant bullish...
I think tomorrow it will go down again......

and may be japan is still watching closely..
  • #19,959
  • Oct 11, 2010 9:12am Oct 11, 2010 9:12am
before they make sure that most of traders have change their mind and start thinking in short...it`s not going up.

same old market maker trick
  • #19,960
  • Oct 11, 2010 9:14am Oct 11, 2010 9:14am
Quoting grashid
disagreed..what happen at 83.60 area when open gap after ~2hr London open on Friday? Who is that seller? its already plan mate....n it already shown in weekly trend....

i am not suprice if the price could go even 66-55 by Q3/4 next year...good luck....while EY ready for 105 as well as GY ~ 123-118 area by Q1 next year...bare in mind since when all crosschange to bull in overall trend.....bearish keep continue right? so my chart say none of flag of reversal, so i trade base on what i saw from my chart....that it

just my 2 cent...
just coz eur and cable downtrend resume again....nothing else.
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