I believe that official intervention is taking place around 80.83. A buyer with near infinite resources is alternatively buying and pushing USD/JPY up above 81 and then playing "rope a dope" and letting the sellers exhaust themselves trying to push it through the 80.83 level. If the official intervention continues, and it appears that due to the events in Japan that the US and European countries are working with the Japanese to limit the yen's rise, this level is likely to continue to be defended. Eventually, speculators will start buying when it comes down to this "safe" 80.83 level and we may eventually see it venture up above 81 in a meaningful way. That is the way I am playing it right now as I don't see 80.83 failing anytime soon except for possibly a quick crack and snap back to take out stops placed too close.
- #23,582
- Mar 22, 2011 9:16pm Mar 22, 2011 9:16pm
- | Membership Revoked | Joined Aug 2010 | 1,300 Posts
- #23,583
- Mar 22, 2011 10:42pm Mar 22, 2011 10:42pm
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- #23,585
- Mar 23, 2011 2:37am Mar 23, 2011 2:37am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Staying out of this pair, and swissy too. Too unpredictable for me 
Doing what you like is Freedom. Liking what you do is Happiness.
- #23,586
- Mar 23, 2011 3:05am Mar 23, 2011 3:05am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Staying out of this pair, and swissy too. Too unpredictable for me
Don't be a hero. Don't have an ego. Always question yourself
- #23,587
- Mar 23, 2011 3:13am Mar 23, 2011 3:13am
- Joined Feb 2009 | Status: Hasta la victoria siempre - El Che | 19,542 Posts
Doing what you like is Freedom. Liking what you do is Happiness.
- #23,588
- Mar 23, 2011 3:27am Mar 23, 2011 3:27am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Don't be a hero. Don't have an ego. Always question yourself
- #23,591
- Mar 23, 2011 7:41am Mar 23, 2011 7:41am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Don't be a hero. Don't have an ego. Always question yourself
- #23,592
- Mar 23, 2011 8:39am Mar 23, 2011 8:39am
- Joined May 2009 | Status: Trading, Not Posting | 2,130 Posts
- #23,594
- Mar 23, 2011 8:48am Mar 23, 2011 8:48am
- Joined May 2009 | Status: User of Geppy patience pills | 7,645 Posts
Don't be a hero. Don't have an ego. Always question yourself
- #23,597
- Mar 23, 2011 8:55am Mar 23, 2011 8:55am
- Joined Apr 2007 | Status: Senior Principal Trader | 2,699 Posts
- #23,598
- Mar 23, 2011 9:14am Mar 23, 2011 9:14am
So that's me against BOJ... hmmm... will be a challenge 
BTW - that's just my view of the pair... of course I could be wrong... and normally I don't post such trades... but this one really is too exciting
I apologize if somebody feels different about it...
BTW - that's just my view of the pair... of course I could be wrong... and normally I don't post such trades... but this one really is too exciting
I apologize if somebody feels different about it...
Beside Technical chart, you should know Fundemental Analysis, ....it is not easy to break 80.50 and 80.00.
Beside BOJ, world Biggest Japan’s public pension fund sitting like blazing gun at support area.
- #23,599
- Mar 23, 2011 9:24am Mar 23, 2011 9:24am
- Joined Apr 2007 | Status: Senior Principal Trader | 2,699 Posts
No need to apologize bro, we here just to share the infomation.
So that's me against BOJ... hmmm... will be a challenge
BTW - that's just my view of the pair... of course I could be wrong... and normally I don't post such trades... but this one really is too exciting
I apologize if somebody feels different about it...
- #23,600
- Mar 23, 2011 9:36am Mar 23, 2011 9:36am
- Joined Nov 2009 | Status: ¯¯¯¯¯¯¯¯¯¯ | 1,339 Posts
So that's me against BOJ... hmmm... will be a challenge
BTW - that's just my view of the pair... of course I could be wrong... and normally I don't post such trades... but this one really is too exciting
I apologize if somebody feels different about it...
The one thing I'm struggling to understand is why a 325 pip drop in 15 hours? I put a red dot on the chart below to see just how strong that move would be.
I saw in some of your past TA you use diamonds? Again not something I use so a chart would be helpful.
We have been ranging 65 pips in the last 75 hours, and in just the next 15 we drop 325?
Are you relying heavily on stops being hit on the way down? especially through an Asian session.
I too am now excited and wish you luck my friend. And if we start breaking support barriers I'll be with you
USD/JPY H1
