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USD/JPY Discussion

  • #23,901
  • Apr 18, 2011 5:44am Apr 18, 2011 5:44am
hi, can share what is the 2 ma that u use for the trading area (light brown)

Quoting fosking
Currently short. Weekly is still bearish.

USD/JPY Weekly
Attachment
  • #23,902
  • Apr 18, 2011 6:07am Apr 18, 2011 6:07am
Quoting tankokjian
hi, can share what is the 2 ma that u use for the trading area (light brown)
Hi tankokjian!

Everything seen on the chart is derived from a technical indicator called Ichimoku Kinko Hyo. You can learn about it here.
I would suggest reading about it there as it is explained far better than I could myself.
I have been learning/using Ichimoku since last year and it has greatly improved my long term trade results. (Ichimoku can also be used on smaller time frames too).
The majority of trading platforms have the indicator built into them, but if yours does not, it should be easy to get hold of one through Google.

Hope it helps a little.
  • #23,903
  • Apr 18, 2011 10:23am Apr 18, 2011 10:23am
can someone explain why the price dives up first in great speed suddenly before diving down ? the candle stick is indicated by thumbs up.

http://i1187.photobucket.com/albums/z400/hyip1/dddd.gif
  • #23,904
  • Apr 18, 2011 2:08pm Apr 18, 2011 2:08pm
Quoting fosking
Currently short. Weekly is still bearish.

USD/JPY Weekly
Attachment
OK, now out and long.
Bouncing off the weekly pivot S1, 15 pips above the psychological 82.00 number which coincides perfectly with the 0.382% Fib level. Tight SL under the swing low.
looking for a long term long, but will watch closely at 83.00 coming into the descending trend line.
If SL is hit, I will look again at 81.00 which is the 50% Fib, monthly pivot and again another psychological round number.

USD/JPY H2
Attached Image (click to enlarge)
Click to Enlarge Name: jpy2.jpg Size: 87 KB
  • #23,905
  • Apr 18, 2011 5:01pm Apr 18, 2011 5:01pm
Quoting fosking
OK, now out and long.
Closed premature at -15 pips.
I'm too afraid my hastiness to get in was too early instead of just waiting a little.
I'm not prepared to short here though. I will sit on my hands and will look for the break of the descending trend line and Ichimoku to confirm the bull move.
I would rather miss the first few pips of the move than soak up losses when it's not needed.
  • #23,906
  • Apr 18, 2011 5:34pm Apr 18, 2011 5:34pm
Quoting tankokjian
can someone explain why the price dives up first in great speed suddenly before diving down ? the candle stick is indicated by thumbs up.

http://i1187.photobucket.com/albums/z400/hyip1/dddd.gif
Smart money provides price support and may step in with some buying. There is likely some legitimate buying for currency exchange or corporate diversification taking place at what might be a support point - they need the money/exchange in a tight window, and expected to do the exchange there. Could be Kampo buying there, could be others, for future use. Others are buying at the hourly bar close/start point, expecting a 2-bar reversal. Don't also forget the impact of equity levels, esp. in the US, as flows are shifted between the stock market and cash reserves - there are correlations there, but they are not cast in stone.

These are all valid reasons for a reversal to occur. Demand exists for a variety of reasons - not everyone is speculating on the market like you and I. And, when it comes to smart money, they control supply and demand, and don't want the price to move too quickly, because they would be less profitable and would get to where they're trying to drive it, too quickly, and less profitably.
  • #23,907
  • Apr 18, 2011 6:08pm Apr 18, 2011 6:08pm
Quoting fosking
Closed premature at -15 pips.
I'm too afraid my hastiness to get in was too early instead of just waiting a little.
I'm not prepared to short here though. I will sit on my hands and will look for the break of the descending trend line and Ichimoku to confirm the bull move.
I would rather miss the first few pips of the move than soak up losses when it's not needed.
Was a nice ride down yesterday on several pairs and I'm currently flat across the board. This is not a trade idea, but I wouldn't be surprised to see 81.35-ish touched in the near future. Like you though, I will sit and watch this pair for the time being, there are less risky pairs to make money from at the moment
Attached Image (click to enlarge)
Click to Enlarge Name: jpy.jpg Size: 180 KB
Doing what you like is Freedom. Liking what you do is Happiness.
  • #23,908
  • Apr 18, 2011 6:37pm Apr 18, 2011 6:37pm
USDJPY breaks through fibo levels, and 200 EMA. Looking for a test of major support 81.12 level
  • #23,909
  • Apr 18, 2011 9:48pm Apr 18, 2011 9:48pm
looking to see the direction where it will break , ma20 moving nicely along the trendline.

http://i1187.photobucket.com/albums/...f?t=1303181165
  • #23,910
  • Apr 20, 2011 4:16am Apr 20, 2011 4:16am
USDx seems to be diving down to a new low .

http://i1187.photobucket.com/albums/...f?t=1303290862

double inverted hammer and MACD crossover on the H1 showing sell signal however some suport at 82.70 to break , once break will it dive down ??

http://i1187.photobucket.com/albums/...f?t=1303290860
  • #23,911
  • Apr 20, 2011 4:19am Apr 20, 2011 4:19am
Short below the one hour pin bar.
  • #23,912
  • Apr 20, 2011 8:33am Apr 20, 2011 8:33am
I love this drop that has taken place here in the last 30 minutes or so. Hope it doesn't rebound before 10 A. Not currently in a position but ready to go Long. I am not a news player but am looking forward to a better than anticipated report to come out.

Act 1 has been completed (employment) with 1 left to go and that is Real Estate. We need to start seeing some signs that it is also on the rebound.

I think employment is. Consecutive months of upgrades to the employment numbers has historically been a Bullish sign. We have them.

Now we need to start seeing some good RE numbers.
  • #23,913
  • Apr 20, 2011 9:31am Apr 20, 2011 9:31am
10 A = 10am ?
Re = ? real estate ?

Quoting Astroman
I love this drop that has taken place here in the last 30 minutes or so. Hope it doesn't rebound before 10 A. Not currently in a position but ready to go Long. I am not a news player but am looking forward to a better than anticipated report to come out.

Act 1 has been completed (employment) with 1 left to go and that is Real Estate. We need to start seeing some signs that it is also on the rebound.

I think employment is. Consecutive months of upgrades to the employment numbers has historically been a Bullish sign. We have them.

Now we...
  • #23,914
  • Apr 20, 2011 9:55am Apr 20, 2011 9:55am
Yes.

10:00 AM ( EST)
  • #23,915
  • Apr 20, 2011 8:34pm Apr 20, 2011 8:34pm
One more good push and we're going to see 81 again......
Attached Image (click to enlarge)
Click to Enlarge Name: jpy.jpg Size: 62 KB
Doing what you like is Freedom. Liking what you do is Happiness.
  • #23,916
  • Apr 20, 2011 9:54pm Apr 20, 2011 9:54pm
Going long, looking for a bounce off the 38.2% Fibonacci retracement of the rally from the mid-March spike low... SL just shy of .82.
  • #23,917
  • Apr 20, 2011 10:00pm Apr 20, 2011 10:00pm
just curious , where are u going to set your triggerline for it to go short?

Quoting realjumper
One more good push and we're going to see 81 again......
  • #23,918
  • Apr 20, 2011 10:06pm Apr 20, 2011 10:06pm
Quoting tankokjian
just curious , where are u going to set your triggerline for it to go short?
I probably won't short this at all......this pair is too risky for me. However, if I was going to get into it, I'd do it below 81.90.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #23,919
  • Apr 20, 2011 10:08pm Apr 20, 2011 10:08pm
u mean 85.5 and 76.4 ? i feel fibo works better in lower timeframe, maybe i am wrong.

Quoting zipfur
Going long, looking for a bounce off the 38.2% Fibonacci retracement of the rally from the mid-March spike low... SL just shy of .82.
  • #23,920
  • Apr 20, 2011 10:10pm Apr 20, 2011 10:10pm
Quoting realjumper
I probably won't short this at all......this pair is too risky for me. However, if I was going to get into it, I'd do it below 81.90.
u mean u dont trade USDJPY at all or only this time ?
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