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USD/JPY Discussion

  • #22,981
  • Mar 16, 2011 12:02am Mar 16, 2011 12:02am
Should get interesting if it starts to drift down during europe, lots of orders from 8060 down to 7995
stops below 8060, demand around 8050, more stops under this?
then rumoured option at 8000 with more large stops below and if we're lucky maybe even a BOJ intervention...
Can't wait
  • #22,982
  • Mar 16, 2011 12:12am Mar 16, 2011 12:12am
Quoting havaiana
...and if we're lucky maybe even a BOJ intervention...
Can't wait
I remember the last intervention last Fall. Luckily I was already in a trade and it turned out real nice, But if you were not and went to take a smoke outside you basically missed out on it. Now here we are about a good 500 PIPS lower from the peak.
  • #22,983
  • Mar 16, 2011 12:18am Mar 16, 2011 12:18am
I'm not going to start buying until at least 77.00.
  • #22,984
  • Mar 16, 2011 12:21am Mar 16, 2011 12:21am
Quoting 2+2=4ex
I'm not going to start buying until at least 77.00.
So I take it you very Bearish on this pair?
  • #22,985
  • Mar 16, 2011 12:28am Mar 16, 2011 12:28am
Quoting Astroman
So I take it you very Bearish on this pair?

Short-term bearish.

Long-term bullish.
  • #22,986
  • Mar 16, 2011 12:41am Mar 16, 2011 12:41am
-- Workers at Japan's damaged nuclear power plant have suspended operations and evacuated, chief Cabinet secretary says.

Kobe Beef will never be the same!
  • #22,987
  • Mar 16, 2011 12:47am Mar 16, 2011 12:47am
Quoting 2+2=4ex
Short-term bearish.

Long-term bullish.
Pretty much my outlook as well but who knows. 77 seems a bit of a fall to me that I do not think we will see but then again if you would have told me we would have been hovering just above 80 last Fall I would have laughed.

For now I am just taking small scalps with tight stops with my emphasis on Longs.
  • #22,988
  • Mar 16, 2011 2:15am Mar 16, 2011 2:15am
Looks like 81.20 could be a large deciding factor today.

USD/JPY M15
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  • #22,989
  • Mar 16, 2011 2:23am Mar 16, 2011 2:23am
USDX is still grinding lower, possibly to test yesterdays low.

USDX M5
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  • #22,990
  • Mar 16, 2011 2:30am Mar 16, 2011 2:30am
And finally the Yen Futures. Again, looking pretty bullish continuing on from yesterday.

Yen Futures M5
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  • #22,991
  • Mar 16, 2011 2:40am Mar 16, 2011 2:40am
open USD/JPY buy order at 80,94..target price 81,61
  • #22,992
  • Mar 16, 2011 2:50am Mar 16, 2011 2:50am
Quoting fosking
USDX is still grinding lower, possibly to test yesterdays low.

USDX M5
Attachment
USDX is starting to break through the descending trend line. Notable resistance at 76.50.
The London boys should have fun today.
JPY Index has not moved down though.

USDX M5
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  • #22,993
  • Mar 16, 2011 2:55am Mar 16, 2011 2:55am
Dude 4rex, $77?! Are you high?

That is fundamentally not credible at all! MAYBE 80.30, but given how we had formations when it was there a few months ago, we have a rather similar built up since 80.60. Higher lows by 10 pips each time. This is alarming for bears!
  • #22,994
  • Mar 16, 2011 2:58am Mar 16, 2011 2:58am
UPtrend?!!?
  • #22,995
  • Mar 16, 2011 3:07am Mar 16, 2011 3:07am
Yup, the cap is breaking! Perhaps it is boiling and soon exploding!
  • #22,996
  • Mar 16, 2011 3:15am Mar 16, 2011 3:15am
Get ready, get set, go go go!
  • #22,997
  • Mar 16, 2011 3:18am Mar 16, 2011 3:18am
and the beauty of uncertainty... what a strong 80.96 level, if it breaks, it could really jump high

Quoting fxreza
Get ready, get set, go go go!
  • #22,998
  • Mar 16, 2011 3:20am Mar 16, 2011 3:20am
there's still the 81.133
  • #22,999
  • Mar 16, 2011 3:25am Mar 16, 2011 3:25am
If we break 80.96 I think it would shoot through that level

Quoting chick3n420
there's still the 81.133
  • #23,000
  • Mar 16, 2011 3:27am Mar 16, 2011 3:27am
Quoting chick3n420
UPtrend?!!?
Certainly not yet.
Don't fall into the trap like a lot of people here did yesterday and buy just because they 'think' it will rise, and then it dropped like a stone.
The first significant level to look out for is around 81.20. Anything below that remains bearish.

USD/JPY M15
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