USD/JPY Discussion | Page 1084 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

USD/JPY

Similar Threads

USD/JPY Discussion 12 replies

NZD/JPY Discussion 12 replies

long eur/jpy, gbp/jpy, usd/jpy 11 replies

EUR/USD Bollinger Band Discussion 3 replies

Suidster's GBP/JPY Discussion 19 replies

Attachments: USD/JPY Discussion
Exit Attachments

USD/JPY Discussion

  • #21,661
  • Nov 23, 2010 4:23pm Nov 23, 2010 4:23pm
Evening Traders!

Boom! Mad day today!
Today was all about safety with a huge flight towards the safe havens.
The USD Futures Index broke the descending trend line, shooting on up to 80.00. A break above this level should be positive for a move on up to the 84.00 area.
What does this mean for USD/JPY? It's a real battle for the safe havens at the moment, but I would prefer to see more Dollar strength than Yen strength in this hard fought battle.
Looking back at todays trade it wasn't pretty for the Dollar. We were stopped on the drop by the monthly R1 pivot point before bouncing up to the daily pivot.
I will remain long and looking to add to the position at 82.00.

USDX Futures
Attached Image (click to enlarge)
Click to Enlarge Name: usdx.png Size: 316 KB


USD/JPY H4
Attached Image (click to enlarge)
Click to Enlarge Name: jpy1.png Size: 133 KB
  • #21,662
  • Nov 23, 2010 5:58pm Nov 23, 2010 5:58pm
Quoting Beljevina
Good catch. Could even be a reverse head & shoulders, if the USD weren't on a long-term one way ticket into the dumpster.

I think the chances of BoJ intervention are incredibly small. I expect some sort of deal has been cut between the US & Japan that we will never be privy to, but, Japan has been castrated in some way - the payoff and goodness has somehow been pushed down the road..

It was odd though that Noda started the week with "I'm watching, will intervene if needed" sounds bites ...
Yes....I think intervention is off the table now too. I think you're right, something has been agreed upon behind closed doors. After all, both Noda and Kan have been running their mouths about intervening if the Yen gets too high.....yet it climbed higher and higher, and they yapped about intervening if any 'sudden moves' were seen in the Yen......yet we have seen plenty of that since they spoke. Noda has to keep the facade up though and I expect his rhetoric to continue.

The Yen did well in the flight to safety over night (my time), which took one of my longs out while I slept, but wasn't entirely unexpected due to the EZ woes. I'm back in at 83.05, sl @ be now, so we'll see where we go from here.

USDX is looking good for now, hence my re-entry in this pair. Now it's just a matter of waiting.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,663
  • Nov 23, 2010 6:11pm Nov 23, 2010 6:11pm
Interesting chart when you add a gold overlay across the USD/JPY chart.
Gold is at resistance right now with a possibility of rejection. USD/JPY is negatively correlated so a push south on Gold should see us moving north on USD/JPY.

USD/JPY/GOLD H4
Attached Image (click to enlarge)
Click to Enlarge Name: jpyg.png Size: 156 KB
  • #21,664
  • Nov 23, 2010 9:23pm Nov 23, 2010 9:23pm
Quoting fosking
Interesting chart when you add a gold overlay across the USD/JPY chart.
Gold is at resistance right now with a possibility of rejection. USD/JPY is negatively correlated so a push south on Gold should see us moving north on USD/JPY.

USD/JPY/GOLD H4
Attachment


i took 2 at 1361 area close n with ~-100 while 1380.08 close early at 1374.16 because i could c 1387 max.....at least +ve from yesterday trade.

but at the end look like she make a rejection at 1382 area....
i wanna watch her today till NY open as i believe, surely it will have some movement n perhaps i will take her back when necessary...

http://www.forexfactory.com/showpost...ostcount=21621

UJ, so far so good and new added position look safe....
  • #21,665
  • Nov 23, 2010 9:31pm Nov 23, 2010 9:31pm
Quoting geniusztc
hello, professional guy,where is your stop loss position ?
no SL mate...only use it when i wanna lock my profit...
  • #21,666
  • Nov 23, 2010 10:11pm Nov 23, 2010 10:11pm
Quoting grashid
no SL mate...only use it when i wanna lock my profit...
cheers. i am long @ 82.88 . maybe we can get more pips
A chart helps those who can read it.
  • #21,667
  • Edited 1:24am Nov 24, 2010 12:29am | Edited 1:24am
in situation like this, big big profit will be coming soon to your account, but it for those who can read the market direction and know when they must taking positions. well, have a nice trade 4 u all.
  • #21,668
  • Nov 24, 2010 12:55am Nov 24, 2010 12:55am
Quoting grashid
no SL mate...only use it when i wanna lock my profit...
do u really think it will go down till 82 0r 81? why? i stil seeing that this will go uper.
  • #21,669
  • Nov 24, 2010 1:15am Nov 24, 2010 1:15am
Quoting grashid
Yen going to be in deep shit after this....buy dip is on..will add if it goes to 81.80/90...



just add at 82.821 just now
emmmm nop.... no no no it wont even touch 82. it will up till 84/85/86. maybe u will agree if u try zigzag indicator on 30 minute timeframe. ok?
  • #21,670
  • Nov 24, 2010 1:16am Nov 24, 2010 1:16am
Quoting felicciano
do u really think it will go down till 82 0r 81? why? i stil seeing that this will go uper.
Although I remain long biased for the time being, we didn't test the 1995 low yet, but we were close. Because we didn't test that low, I am mindful that it is still within range of this pa, and a test of that low cannot be ruled out yet.

I can't see any intervention from Japan until we break that low, so for now, I still remain cautiously long biased. However, I can change my bias to suit as need be.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,671
  • Nov 24, 2010 1:17am Nov 24, 2010 1:17am
Japan: The land of the rising debt

An interesting read.....nothing we didn't already know, but still good to read.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,672
  • Nov 24, 2010 1:18am Nov 24, 2010 1:18am
I will play this theme now. There are too much mess around now.

My target is 82 for now. Both my 1H and 4H looks good for a drop after the normal pull back from 82.78
  • #21,673
  • Nov 24, 2010 1:44am Nov 24, 2010 1:44am
short @83.33, target downside 82.8
  • #21,674
  • Nov 24, 2010 2:01am Nov 24, 2010 2:01am
i know it's off topic, but anyone trade with me on GBP/JPY? the downside target 127-129 looks interesting
  • #21,675
  • Nov 24, 2010 2:14am Nov 24, 2010 2:14am
Quoting dokterriza
short @83.33, target downside 82.8
1000% agree with u.. take position NOW is the right move.
  • #21,676
  • Nov 24, 2010 2:35am Nov 24, 2010 2:35am
Quoting dokterriza
i know it's off topic, but anyone trade with me on GBP/JPY? the downside target 127-129 looks interesting
closed a long scalp this night in GJ.
Personally I wouldn't short this pair as well as UJ it has not enough potential imo...
Don't be a hero. Don't have an ego. Always question yourself
  • #21,677
  • Nov 24, 2010 2:46am Nov 24, 2010 2:46am
Quoting felicciano
emmmm nop.... no no no it wont even touch 82. it will up till 84/85/86. maybe u will agree if u try zigzag indicator on 30 minute timeframe. ok?
what the heck that u r talking about? Did you understand PA? If not just shut and post something constructive...

we are here discussing something where just right on track...but sudden mongkey make noisy make me...mmm
  • #21,678
  • Nov 24, 2010 3:01am Nov 24, 2010 3:01am
I booked some big fat profits this morning.
Over the past few trading sessions I have believed we will see a drop down to around the 82.00 area before a continuation of the up trend.
I'm not going to enter short here as I still favor the upside, I think today I will have a day off, look at the charts this evening at the end of the trading day and decide my next step from there.
Gold is rising today so be careful to anyone entering long here.
Will be back later, good luck all


USD/JPY H4
Attached Image (click to enlarge)
Click to Enlarge Name: jpy1.png Size: 164 KB
  • #21,679
  • Nov 24, 2010 3:08am Nov 24, 2010 3:08am
Quoting fosking
I booked some big fat profits this morning.
Over the past few trading sessions I have believed we will see a drop down to around the 82.00 area before a continuation of the up trend.
I'm not going to enter short here as I still favor the upside, I think today I will have a day off, look at the charts this evening at the end of the trading day and decide my next step from there.
Gold is rising today so be careful to anyone entering long here.
Will be back later, good luck all
Always good to book profits.....well done!

I can quite understand you standing aside for the day....I might do the same. Overnight one of my longs got taken out at be, and the re-entered long I closed manually, but it would have got stopped out too. That leaves one long running. I don't like this pa too too much at the moment....I prefer EJ just for scalping, which isn't really my thing anyway....but profit is profit!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #21,680
  • Nov 24, 2010 3:13am Nov 24, 2010 3:13am
Quoting USD-Bear
closed a long scalp this night in GJ.
Personally I wouldn't short this pair as well as UJ it has not enough potential imo...
i think it's otherwise. my stand on UJ is bearish for this week, but overall my view for the next 6 months is strong bullish. i got very excited yesterday to see weighted risk aversion on UJ which blast risk currencies heavily.Yen is the winner among safe haven. have you seen CHF/JPY? again, it's depending on US Data which will be released tonight, and other factors..

thank you for your opinion USD-Bear, kindly appreciated. at last someone talk to me in this forum gonna take early nap for hours
26 traders viewing now