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USD/JPY Discussion

  • #22,421
  • Feb 16, 2011 2:39am Feb 16, 2011 2:39am
On H4 there were buyers at the 6/8 MML.
If it breaks I will wait for 83.43/83.00 to buy again.
84.43 is the cross between the ascending red trend line on the M5 chart and the monthly R1 pivot.

H4
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M5
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  • #22,422
  • Feb 16, 2011 4:38am Feb 16, 2011 4:38am
I'm throwing this inversed H&S formation out of my head, making a retrace to 78.06 possible.

H5:
Attached Image
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  • #22,423
  • Feb 16, 2011 11:20am Feb 16, 2011 11:20am
CHF and JPY gain across the board on the back of risk averse appetite following reports of Iranian warships planning to cross Suez Canal.

Source: RANsquawk
  • #22,424
  • Feb 16, 2011 12:36pm Feb 16, 2011 12:36pm
This is what I'm looking for.
If we blow straight through the bottom with momentum I will get out of the long asap.

M5
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  • #22,425
  • Feb 16, 2011 12:54pm Feb 16, 2011 12:54pm
Quoting fosking
This is what I'm looking for.
If we blow straight through the bottom with momentum I will get out of the long asap.
The re-test came as expected, but we'll have to break the recent high before I get interested in a position here......
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #22,426
  • Feb 16, 2011 1:12pm Feb 16, 2011 1:12pm
Quoting fosking
This is what I'm looking for.
If we blow straight through the bottom with momentum I will get out of the long asap.

M5
Attachment
SL hit.

Minor uptick seen by the USD index following the release of FOMC minutes after the Fed upped GDP and lowered Unemployment projections
MARKET COMMENTARY
Source: RANsquawk

Will leave my second buy order to see what it can do if it gets back down there.
Also it will be interesting to see how the Iranian war ships get on passing through Suez Canal, could be explosive (excuse the pun).
  • #22,427
  • Feb 16, 2011 1:26pm Feb 16, 2011 1:26pm
usdjpy busy with a symmitrical triangle !

one more down then break up north ?
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  • #22,428
  • Feb 16, 2011 1:31pm Feb 16, 2011 1:31pm
Quoting fosking
SL hit.

I got back in with tight SL.
Once this trades done I'm done for the night.

M5
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  • #22,429
  • Feb 16, 2011 3:54pm Feb 16, 2011 3:54pm
Quoting fosking
I got back in with tight SL.
Once this trades done I'm done for the night.
From the look of the PA at the moment, it seems that it will open just under the DP after roll over......it's only a guess but I'll wait and see what happens.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #22,430
  • Feb 17, 2011 1:04am Feb 17, 2011 1:04am
Quoting fosking
I got back in with tight SL.
Out +15
  • #22,431
  • Feb 17, 2011 1:12am Feb 17, 2011 1:12am
Morning guys!

I'm waiting to see how we react to the purple spots.
The Yen has been strong so far today, so I may look for a sell past the support areas if the strength keeps up.

M5
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Daily % Change
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  • #22,432
  • Feb 17, 2011 1:25am Feb 17, 2011 1:25am
Overnight the USDX rose, but had no effect on JPY.
It also hit resistance at 78.29.

M5
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  • #22,433
  • Feb 17, 2011 4:01am Feb 17, 2011 4:01am
Is anyone else planning a long term trade based on the USDX?
A Japanese ex-finance minister says strong JPY has been export industry, and current FX issue is due to USD weakness.

Daily
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  • #22,434
  • Feb 17, 2011 4:07am Feb 17, 2011 4:07am
Quoting fosking
Is anyone else planning a long term trade based on the USDX?
A Japanese ex-finance minister says strong JPY has been export industry, and current FX issue is due to USD weakness.
Yep.....on the swissy (again!), and maybe UJ too depending on how it goes.

The ex-finance minister is partly correct......does he forget China and the EZ?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #22,435
  • Feb 17, 2011 4:12am Feb 17, 2011 4:12am
Quoting realjumper
Yep..... on the swissy (again!)
What level are you looking at? I might have a cheeky buy at 0.9350 if it gets there.
  • #22,436
  • Feb 17, 2011 4:18am Feb 17, 2011 4:18am
Quoting fosking
What level are you looking at? I might have a cheeky buy at 0.9350 if it gets there.
I'm looking for 9298....exactly.....lol. 9300 would do though because that will complete the 'M' pattern, but my eyes will be wide open at 9330-ish as the centre of the 'M'.
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Doing what you like is Freedom. Liking what you do is Happiness.
  • #22,437
  • Feb 17, 2011 4:21am Feb 17, 2011 4:21am
Time for a quick nap I think.....it's been a busy day. Back for US unemployment news.........
Doing what you like is Freedom. Liking what you do is Happiness.
  • #22,438
  • Feb 17, 2011 4:30am Feb 17, 2011 4:30am
I put a buy in at 0.9560 near the 50% Fib with a tight SL (tbh it was a bit of a punt). But otherwise I will try and get a bounce off the trend line.

H4
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  • #22,439
  • Feb 17, 2011 7:18am Feb 17, 2011 7:18am
Quoting fosking
I put a buy in at 0.9560 near the 50% Fib with a tight SL (tbh it was a bit of a punt). But otherwise I will try and get a bounce off the trend line.
The punt could be worth the risk.....there's a case to be made for several entry points really, just have to Noda
Doing what you like is Freedom. Liking what you do is Happiness.
  • #22,440
  • Feb 17, 2011 7:59am Feb 17, 2011 7:59am
Quoting realjumper
The punt could be worth the risk.....there's a case to be made for several entry points really, just have to Noda
SL hit -20. I thought it was going to hold, but it didn't lol.
Next buy will be at 0.9350 to parity lol
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