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USD/JPY Discussion

  • #21,301
  • Edited 6:06am Nov 5, 2010 5:21am | Edited 6:06am
USD higher
YEN higher
This wasn't the plan

Market is looking for risk-aversion again I presume....
Don't be a hero. Don't have an ego. Always question yourself
  • #21,302
  • Nov 5, 2010 7:39am Nov 5, 2010 7:39am
All we need now is a BOJ intervention!
  • #21,303
  • Nov 5, 2010 7:43am Nov 5, 2010 7:43am
Quoting USD-Bear
USD higher
YEN higher
This wasn't the plan

Market is looking for risk-aversion again I presume....
Yes this was not expected!!!
very good NFP number!!!
I was hoping to buy little lower, goodbye shorts put on your winter cloth
  • #21,304
  • Nov 5, 2010 7:56am Nov 5, 2010 7:56am
Quoting Abouelzelouf
Yes this was not expected!!!
very good NFP number!!!
I was hoping to buy little lower, goodbye shorts put on your winter cloth
Indeed very good news, lets hope we no not need BOJ anymore
Don't be a hero. Don't have an ego. Always question yourself
  • #21,305
  • Nov 5, 2010 8:09am Nov 5, 2010 8:09am
We were well capped at the weekly pivot R1. Hopefully the US session can push us up through R1 and back above 81.50.

USD/JPY M5 (01/11-05/11)
Attached Image (click to enlarge)
Click to Enlarge Name: jpy2.png Size: 181 KB
  • #21,306
  • Nov 5, 2010 8:12am Nov 5, 2010 8:12am
Quoting Abouelzelouf
Yes this was not expected!!!
very good NFP number!!!
I was hoping to buy little lower, goodbye shorts put on your winter cloth
A bit of trivia: If NFP shows 200K new jobs every month, it will take 10 years to bring the unemployment rate down to 5%.
So, don't pop the champagne yet!
  • #21,307
  • Nov 5, 2010 8:18am Nov 5, 2010 8:18am
Quoting pqt
A bit of trivia: If NFP shows 200K new jobs every month, it will take 10 years to bring the unemployment rate down to 5%.
So, don't pop the champagne yet!
don't spoil the moment.....
Don't be a hero. Don't have an ego. Always question yourself
  • #21,308
  • Nov 5, 2010 8:23am Nov 5, 2010 8:23am
Quoting USD-Bear
don't spoil the moment.....
Right and when UJ pass 82.35 another champaign...
The Market pays you to be disciplined
  • #21,309
  • Nov 5, 2010 8:37am Nov 5, 2010 8:37am
Quoting mima
Right and when UJ pass 82.35 another champaign...
Let me know if champagne gets better with age...
  • #21,310
  • Nov 5, 2010 9:19am Nov 5, 2010 9:19am
Quoting Beljevina
Would love to have been a fly on the wall at the G20 10/23 Korea currency discussions: how the US can command & swagger other nations into all this is beyond me ... it's as if Timmy & Ben declared "our US problems are foremost, screw the rest of your issues & your export economies." Japan foremost comes to mind here - the long term impact of the ever high yen to them is in fact atrocious.

Another meet coming up Nov 11/12 - we're hearing rumblings from Asia on how beefed they are with QE2 ... can't be long now before the real currency war begins....
Finally, international leaders are letting down their guard, and limiting the doublespeak on what's really going on. Love the 'clueless' comment by the German FM - technically called QE2 that, but, we all know who designed it ... recommend reading the whole article ... China has also (finally) called QE money printing and currency manipulation ... in your face, eh, Geithner?


Schaeuble Rebuffs Trichet, Rebukes Bernanke as Germany Diverges

Nov. 5 (Bloomberg) -- German Finance Minister Wolfgang Schaeuble swiped at European Central Bank President Jean-Claude Trichet and U.S. Federal Reserve Chairman Ben Bernanke, distancing Europe’s biggest economy from policies born of the financial crisis.

Speaking in Berlin today, Schaeuble said the Fed’s injection of $600 billion was “clueless” and won’t revive growth. He said he didn’t share Trichet’s concerns that making investors pay for future euro-area crises risks roiling markets.

The comments, made five days before Chancellor Angela Merkel leaves for a summit of Group of 20 leaders in Seoul, underscore the mounting friction between Germany and its G-20 partners as Merkel pushes for budget-deficit cuts and regulations to avoid a repeat of the crisis.


Quoting Hugo Boss
why BOJ do not print more Yen... so far i nerver understand why... because US will disagree?
Good yet repetitive questions we simple people are asking around here ... what BoJ and Japan is thinking and up to is beyond me - they're setting themselves up for really bad economic/societal times yet no action. Did you catch the commentary on forexlive after the BoJ meeting on Friday? They came out of the meeting with nothing new at all (after high expectations by all) at 11:30am local time, enough for the "bufoons to head to their gov't expensed week ending lunch."

If only gov'ts spoke their mind and the truth like we do around here ...
  • #21,311
  • Nov 5, 2010 9:24am Nov 5, 2010 9:24am
Enjoyed the following:

http://www.spiegel.de/international/...727457,00.html

and was planning to refer to it this weekend - erm, should I have nothing better to do in this bloody hotel.

Quoting Beljevina
Finally, international leaders are letting down their guard, and limiting the doublespeak on what's really going on. Love the 'clueless' comment by the German FM - technically called QE2 that, but, we all know who designed it ... recommend reading the whole article ... China has also (finally) called QE money printing and currency manipulation ... in your face, eh, Geithner?


[indent][size="4"][url="http://www.businessweek.com/news/2010-11-05/schaeuble-rebuffs-trichet-rebukes-bernanke-as-germany-diverges.html"]Schaeuble Rebuffs Trichet,...
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #21,312
  • Nov 5, 2010 9:27am Nov 5, 2010 9:27am
Quoting Beljevina
Finally, international leaders are letting down their guard, and limiting the doublespeak on what's really going on. Love the 'clueless' comment by the German FM - technically called QE2 that, but, we all know who designed it ... recommend reading the whole article ... China has also (finally) called QE money printing and currency manipulation ... in your face, eh, Geithner?

[indent][size=4][url="http://www.businessweek.com/news/2010-11-05/schaeuble-rebuffs-trichet-rebukes-bernanke-as-germany-diverges.html"]Schaeuble Rebuffs Trichet, Rebukes...
JP is still shackled with the "Hiroshima complex"...
Call me callous if you want, but that's the truth.
  • #21,313
  • Nov 5, 2010 11:09am Nov 5, 2010 11:09am
hopefully today daily candle close above 81,2x.. it will bullish to above 82
Next strong resistance is 82.4x...
  • #21,314
  • Nov 5, 2010 11:25am Nov 5, 2010 11:25am
Quoting Hugo Boss
Next strong resistance is 82.4x...
Based on UTL?
Don't be a hero. Don't have an ego. Always question yourself
  • #21,315
  • Nov 5, 2010 11:46am Nov 5, 2010 11:46am

by looking for 4H chart, if closed above 81.44 there is a cup & handle targeting around 83.08


what do you think guys?
  • #21,316
  • Nov 5, 2010 12:18pm Nov 5, 2010 12:18pm
on 10-12-10 price was at 82.35 and rejected...highest point since 10-6-10...and I think that is important level..as well 81.91...let see...might be long way to come there...
The Market pays you to be disciplined
  • #21,317
  • Nov 5, 2010 12:25pm Nov 5, 2010 12:25pm
I have given up trading UJ for a while. This is because I think UJ would range between 80-82 for a long time (a couple of months, maybe??).

UJ basically is in the down trend (see day chart), but due to the fear of JP intervention, it wouldn't go under 79. Also it wouldn't break 82.00 due to weak USD. It goes nowhere.

UJ sucks...
  • #21,318
  • Nov 5, 2010 12:40pm Nov 5, 2010 12:40pm
Quoting Forexgogo
I have given up trading UJ for a while...

So you just closed all your longs?
The Market pays you to be disciplined
  • #21,319
  • Nov 5, 2010 12:42pm Nov 5, 2010 12:42pm
Quoting mima
So you just closed all your longs?
Actually yes I closed all.
  • #21,320
  • Nov 5, 2010 12:52pm Nov 5, 2010 12:52pm
Quoting Forexgogo
I have given up trading UJ for a while. This is because I think UJ would range between 80-82 for a long time (a couple of months, maybe??).

UJ basically is in the down trend (see day chart), but due to the fear of JP intervention, it wouldn't go under 79. Also it wouldn't break 82.00 due to weak USD. It goes nowhere.

UJ sucks...
At this point I do not understand, imo you need some patience-pills
Don't be a hero. Don't have an ego. Always question yourself
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