USD/JPY Discussion | Page 1228 | Forex Factory

Options

Go to
Permalinks
Print Thread

Related Instruments

USD/JPY

Similar Threads

USD/JPY Discussion 12 replies

NZD/JPY Discussion 12 replies

long eur/jpy, gbp/jpy, usd/jpy 11 replies

EUR/USD Bollinger Band Discussion 3 replies

Suidster's GBP/JPY Discussion 19 replies

Attachments: USD/JPY Discussion
Exit Attachments

USD/JPY Discussion

  • #24,541
  • Jun 9, 2011 12:40am Jun 9, 2011 12:40am
Quoting Forexia
I know. This is what I don't get either. When the pair was at the same level in March, they jumped right into action to protect their export.

Now the pair is at the same level again and the net result is still the same for their export but because this time it's USD's fault, they don't do anything.

But then again, ever since when did the Japanese ever dare to stand up to America??
There is the crux of the matter imo. Remember when they intervened?.....not the recent March effort, the previous time? I think the time was around September last year and the level was about 83. Well, Uncle Sam was mighty pissed off with Noda, and let him and the world know, in no uncertain terms.

Then America went on printing money!!!! The hypocrisy of it!! Noda, Kan and the whole mob ought to grow a backbone, if it really is uncle sam calling the shots!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #24,542
  • Jun 9, 2011 12:41am Jun 9, 2011 12:41am
Quoting Forexia
Thanks for the vouch, realjumper. So nice of you.
You deserve it
Doing what you like is Freedom. Liking what you do is Happiness.
  • #24,543
  • Jun 9, 2011 12:51am Jun 9, 2011 12:51am
Quoting realjumper
Remember when they intervened?.....not the recent March effort, the previous time? I think the time was around September last year
Yep. I actually was already Long when that happened but got out too quick. Still it was a nice unexpected gain.
  • #24,544
  • Jun 9, 2011 12:54am Jun 9, 2011 12:54am
Man, where has the time gone? 9 months ago? feels like 3.
  • #24,545
  • Jun 9, 2011 1:00am Jun 9, 2011 1:00am
Quoting Astroman
Yep. I actually was already Long when that happened but got out too quick. Still it was a nice unexpected gain.
You are lucky

I missed that opportunity but then opened short positions. However there should have been a double profit...
  • #24,546
  • Jun 9, 2011 1:04am Jun 9, 2011 1:04am
Quoting slovforex
You are lucky

I missed that opportunity but then opened short positions. However there should have been a double profit...
I was lucky. But still I exited my position way too soon. That is still my biggest problem with trading, letting the winners run but I have been improving on that.
  • #24,547
  • Jun 9, 2011 1:11am Jun 9, 2011 1:11am
Quoting realjumper
There is the crux of the matter imo. Remember when they intervened?.....not the recent March effort, the previous time? I think the time was around September last year and the level was about 83. Well, Uncle Sam was mighty pissed off with Noda, and let him and the world know, in no uncertain terms.

Then America went on printing money!!!! The hypocrisy of it!! Noda, Kan and the whole mob ought to grow a backbone, if it really is uncle sam calling the shots!
Well cuz when BoJ intervenes, they have always use the USD, their currency of choice. Can't blame them though since USD is supposed to be the base currency of the world; everybody supposedly transact in USD. What else do you want the japanese to use for intervention? Indian rupee??

US never minded before but now they are in shitty economy themselves and need to help their own export so now they are all antsy about BoJ using USD that's why in March, they had to get all the G-7 countries to band together to intervene instead of US alone. And honestly USD wasn't even used the most. The bulk of the intervention was done using the AUD and NZD. AUD/JPY went up almost 400 pips from 8 pm to 11 pm on March 17 while UJ only went up like 90 pips. They were supposed to do more intervention when the NA market opens the next day but they did zippo the next day.

Ever since those two atomic bombs, no chance of Japanese ever growing a backbone against US, ever. It's been like what more than half of century now, if they had grown a backbone, they would've grown it by now. LOL

Good pipping to you all!!
Make your losses in demo. Earn your profits live.
  • #24,548
  • Jun 9, 2011 1:14am Jun 9, 2011 1:14am
Quoting Astroman
I was lucky. But still I exited my position way too soon. That is still my biggest problem with trading, letting the winners run but I have been improving on that.
So, are you long now?
  • #24,549
  • Jun 9, 2011 1:21am Jun 9, 2011 1:21am
Quoting slovforex
So, are you long now?
I have two accounts. One of which is a very small one that I use for long term trades and I have been Long for about 2 1/2 months on it so needless to say I am down. But it is a very small position. 86 at minimum.

In my main account I have basically been scalping more than usual. My scalps have as well been Long only. Unlike the other I have been doing pretty good on this one.
  • #24,550
  • Jun 9, 2011 1:24am Jun 9, 2011 1:24am
Quoting Astroman
I have two accounts. One of which is a very small one that I use for long term trades and I have been Long for about 2 1/2 months on it so needless to say I am down. But it is a very small position.

In my main account I have basically been scalping more than usual. My scalps have as well been Long only. Unlike the other I have been doing pretty good on this one.
I see.

What is your trading system for scalping?

I used to trade USD/JPY using "5-min intraday system" which was posted here, on forexfactory...
  • #24,551
  • Jun 9, 2011 1:24am Jun 9, 2011 1:24am
Quoting slovforex
So, are you long now?
I have two accounts. One of which is a very small one that I use for long term trades and I have been Long for about 2 1/2 months on it so needless to sat I am down. But it is a very small position. 86 TP minimum and see no reason why it will get back up in the 90's.

In my main account I have basically been scalping more than usual. My scalps have as well been Long only. Unlike the other I have been doing pretty good on this one.
  • #24,552
  • Jun 9, 2011 1:33am Jun 9, 2011 1:33am
Quoting Astroman
Yep. I actually was already Long when that happened but got out too quick. Still it was a nice unexpected gain.
I was sitting in my chair watching the charts at that time. I had been ready for intervention since 85, so as the first spike retraced, I was into it like a pig into poo!! Was great.

The recent intervention was easy to catch, they announced time and place!!!

The initial spike down that kicked off this intervention was also perfectly timed for me.....I was once again, sitting there ready to go. I didn't get much of the retrace though, I think USD-Bear got a great entry though.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #24,553
  • Jun 9, 2011 1:41am Jun 9, 2011 1:41am
Quoting Forexia
Well cuz when BoJ intervenes, they have always use the USD, their currency of choice. Can't blame them though since USD is supposed to be the base currency of the world; everybody supposedly transact in USD. What else do you want the japanese to use for intervention? Indian rupee??

US never minded before but now they are in shitty economy themselves and need to help their own export so now they are all antsy about BoJ using USD that's why in March, they had to get all the G-7 countries to band together to intervene instead of US alone....
Well, having the reserve currency comes with good and bad. Can't just accept the good without expecting the bad from time to time.

You're right though, Japan has a subservient attitude towards USA and that's not about to change. I guess they are more willing to suffer hardship than they are to tell Obama, Bernanke etc to back the phuck off!!!......lol!!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #24,554
  • Jun 9, 2011 2:22am Jun 9, 2011 2:22am
Quoting Astroman
Sorry, but I dont see it. Not saying that you are wrong in fact I hope that you are correct.
Thats fine. Trade your own charts. Mine showed 30 descending TL broken with nice retest. Given that this is a double bottom possible on daily. I may hold onto this for a little while longer.
Dr. C
  • #24,555
  • Jun 9, 2011 3:43am Jun 9, 2011 3:43am
What do people think for the near term action?
Just closed a short from 81.4 so got a few cheecky pips on that...
  • #24,556
  • Jun 9, 2011 8:47am Jun 9, 2011 8:47am
This is my near term scenario (could be long) if price rises. Sell limit @ 80.70
This level is previous support and last swing 38.2 fibo

http://4.bp.blogspot.com/-OxJoIiXhQQ...resistance.png
  • #24,557
  • Jun 9, 2011 9:37am Jun 9, 2011 9:37am
Quoting Walker93
What do people think for the near term action?
Just closed a short from 81.4 so got a few cheecky pips on that...
Still rotting in the rut. The only actions are going to depend on how USD goes. If US decided to print more money then this pair will tank and if USD gets stronger because of a "strong dollar policy" like what ECB president Trichet said this morning, then this pair will climb.

In the meantime, it will have knee-jerk reactions every now and then as usual to what economic number that comes out like NFP and stuff.

My 2 cents.
Make your losses in demo. Earn your profits live.
  • #24,558
  • Jun 9, 2011 10:59am Jun 9, 2011 10:59am
but jpy is so strong .i am not sure .
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 186 KB
A chart helps those who can read it.
  • #24,559
  • Jun 9, 2011 11:41am Jun 9, 2011 11:41am
sell at 80.33 , - scalping position/gump trade
short/long term buy at 80.08 with 200pips SL
Attached Image (click to enlarge)
Click to Enlarge Name: vvv.gif Size: 41 KB
  • #24,560
  • Jun 9, 2011 12:48pm Jun 9, 2011 12:48pm
Quoting geniusztc
but jpy is so strong .i am not sure .
one trade left . 80.30 will be a support line .
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 176 KB
A chart helps those who can read it.
46 traders viewing now