USD/JPY Discussion

I agree.
We shall see some movement soon.

EU MID-SESSION UPDATE - 10/02/11

Portugal remained the dominant theme in the market today, with the yield on Portuguese 10-year government bond above 7.4%, which promoted concerns that Portugal may be next in line to get bailed-out following the footsteps of Greece and Ireland, which got bailed out once their respective yields crossed 7%. European equities traded lower during the session, with particular weakness observed in the Spanish IBEX 35, and Italian FTSE MIB indices, with financials as the worst performing sector partly due to concerns over Portugal. Also, bund futures gained upward momentum, with widening seen in the European peripheral 10-year government bond yield spreads, and the Portuguese/German spread wider by as much as 32 BPS. However, following market talk of the ECB buying in Portuguese debt, bunds came off their best levels, and peripheral spreads tightened. In other major news of the day, after touching earlier lows, WTI crude futures rose around USD 1 a barrel following unconfirmed news that the Saudi King Abdullah is dead, prompting concerns over Egypt as Abdullah has remained a strong supporter of the Egyptian President Mubarak.

Moving forward, markets look ahead to the interest rate decision by the BOE, where despite calls for a rate hike, the BOE is expected to keep the interest rate unchanged. Also, key jobless data from the US, and USD 16bln 30-year Note auction, following yesterday’s well-received 10-year Note auction, are also scheduled for later in the session.

Source: RANsquawk

Will look to short at around 83.30.

M5

as usual, stop @ BE again

Now the hard part to break above 83.20-40 but it looks we are getting there soon.
then the question comes what next?

watch out for a possible 78.45 break, if that breaks UJ 83.60 might break too....

Thanks for the heads up mate, will keep an eye on it

awaiting 83.45-55 to sell but only shortterm

lets see if we gonna get another break

also watching eurjpy lets see what happens in the coming hours till NY close.

Closed @ 83.24
Yen suddenly getting strength while USD still strong, strange relation, don't understand what's going on.....

I got in at 83.30 and now looking for some consolidation throughout the asian session.

M5

it is normal I guess after that long run all day, to retreat little.
and I think the news from Egypt has something to do with it.
there is holiday in Japan tonight so I guess no big move expected.

still bullish on daily but more resistance till 83.40 if it get broken we might see 84 or close to it.
it is getting overbought on 1H and 4H so will see how it goes from here.

I am off to bed now. will be back in the morning tomorrow for little time then off to skiing.
Good night.
good luck to you all with your trades.

Good luck fosking, don't have the balls to short this

Thank you. I've got a 9 pip SL just above the days high so I will see how it plays out, fingers crossed.

Stopped at -9 pips and done for the day.

Catch you in the European session

I see that Japan is on holiday today, so nothing much is likely until EU session.....moved my swissie sl to 9650, so either I get stopped for +250 or else parity here we come!

Make or break day today....hopefully

Yes, same here:


normally I have a short term bias at such stages, but must confess its difficult right now. Tend to project a retrace first before the break....

Well spotted....I didn't check usdx today. That seems to be lining up quite well, but like you I need some confirmation rather than a clean break. A test, retrace, retest then break is what I would like to see, but we have to take what we can get!! If this does break though, there should be ample opportunities to catch a ride

Morning guys!

looks like the futures in the US are falling again today, so should help give a little strength to the USD.
I would like to see us break 83.65 before entering long as there should be a reasonable amount of resistance here with stops.
One good thing for a move up is we broke the monthly R1 this morning, so hopefully we can build on that to push up through 83.50/83.65 and then through a cluster of stops lol.
I have a possible retracement at 84.00 (round number and 7/8 MML).

H4

My old friend the Yen got me again early Thursday morning (EST). Had a pretty strong Long position at around 82.40 from earlier. Put in my TP and SL and by the time I woke up I was down just a hair wasn't really doing anything. I was still a little groggy and then I was finally up a good 10-15 PIPS. I wasn't really in to at the time so I exited my position at that profit.

Here we are, almost up 100 PIPS....terrible management on my part. I entered the trade with no intentions of scalping but looking for a nice move upward which happened sooner than I anticipated.

Too bad I was not along for the ride.