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USD/JPY Discussion

  • #24,561
  • Jun 9, 2011 2:04pm Jun 9, 2011 2:04pm
have BOJ started intervening yet ??
  • #24,562
  • Jun 9, 2011 2:23pm Jun 9, 2011 2:23pm
Quoting tankokjian
have BOJ started intervening yet ??
I would not count on that happening.
  • #24,563
  • Jun 9, 2011 2:37pm Jun 9, 2011 2:37pm
Quoting tankokjian
have BOJ started intervening yet ??
the downmove was quite slow so BOJ does not care that much i guess, but a huge fast drop below 79.5 would make them nervous ..and me too cause i am already long
  • #24,564
  • Jun 9, 2011 2:52pm Jun 9, 2011 2:52pm
First time since last Friday I'm totally Yen free. Got out @ 80.40, now thinking what to do next. Maybe waiting till it's in the 79's again for long.

Happy trading to all.

Shamu
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  • #24,565
  • Jun 9, 2011 3:04pm Jun 9, 2011 3:04pm
Quoting Kas1
short under 80..see if this trend wants to continue
Quoting Kas1
if it closes the way it is now this hour i dont think we will see a retrace till thursday...but hey i could be totally wrong...so far, so good
still in short from 80, from the 1hr to me this move up was a corrective wave from the impulse that started on 5/31 and has moved in proportion to the last corrective wave...pretty tight range this week, gunna hold on and see what next week brings
  • #24,566
  • Jun 9, 2011 3:56pm Jun 9, 2011 3:56pm
my plan is it goes to 80.6 at least, nice divergence playing out, not much resistance on the way, but have to see what the asian session brings

http://www.ps.wol-clan.de//img/picshare_1307652574.png
  • #24,567
  • Jun 9, 2011 9:15pm Jun 9, 2011 9:15pm
Opened my first long again uj @ 80.09.

We'll see how it goes.
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  • #24,568
  • Jun 9, 2011 9:16pm Jun 9, 2011 9:16pm
Quoting KillerWhale
Opened my first long again uj @ 80.09.

We'll see how it goes.
Im with yah at 80.07
Dr. C
  • #24,569
  • Jun 9, 2011 9:52pm Jun 9, 2011 9:52pm
@80.11.

Closed an earlier long @.34.

Time to sit back and relax.
  • #24,570
  • Jun 10, 2011 12:19am Jun 10, 2011 12:19am
Usd/Jpy Buy 79.80/85 then 79.60/65 then 79.35/40, sell 80.60/65 then 80.75/80 then 81.15/20
Take Note that these signals are for short term, each signal TP is 10 to 30 pips despite it might gain you much more than that sometimes


Medium Term Stratgey(Daily):

Usd/Jpy This pair is still on downtrend, after failure in early hours today to break above 80.50 and lower resistance at 80.20 might push it more down to target low at 79.60, while only above 80.50 would change my view to target 81.00
  • #24,571
  • Jun 10, 2011 12:36am Jun 10, 2011 12:36am
80.17 - 80.21 , this near the fibo 38.2 , daily pivot, and trend line , if price does not breakhere price will continue its downtrend until BOJ steps in.

Quoting FXMoneMaker
Usd/Jpy Buy 79.80/85 then 79.60/65 then 79.35/40, sell 80.60/65 then 80.75/80 then 81.15/20
Take Note that these signals are for short term, each signal TP is 10 to 30 pips despite it might gain you much more than that sometimes


Medium Term Stratgey(Daily):

Usd/Jpy This pair is still on downtrend, after failure in early hours today to break above 80.50 and lower resistance at 80.20 might push it more down to target low at 79.60, while only above 80.50 would change my view to target 81.00
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  • #24,572
  • Jun 10, 2011 12:39am Jun 10, 2011 12:39am
usd/jpy is forming a flag on 4-h chart.
I would expect downward pressure from now on
  • #24,573
  • Jun 10, 2011 12:40am Jun 10, 2011 12:40am
Quoting FXMoneMaker
Usd/Jpy Buy 79.80/85 then 79.60/65 then 79.35/40, sell 80.60/65 then 80.75/80 then 81.15/20
Take Note that these signals are for short term, each signal TP is 10 to 30 pips despite it might gain you much more than that sometimes


Medium Term Stratgey(Daily):

Usd/Jpy This pair is still on downtrend, after failure in early hours today to break above 80.50 and lower resistance at 80.20 might push it more down to target low at 79.60, while only above 80.50 would change my view to target 81.00
Totally agree with the above analysis. I don't see this pair going up eitherr at least during the London session.
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  • #24,574
  • Jun 10, 2011 12:43am Jun 10, 2011 12:43am
Quoting Forexia
I don't see this pair going up eitherr at least during the London session.
Maybe not and i think today will end up being kind of boring.

Got a Limit order in @ 79.86, I hope it gets hit.
  • #24,575
  • Jun 10, 2011 12:44am Jun 10, 2011 12:44am
looks bad for the dollar, the only thing thats holding people back is awaiting monetary polices to take place. price does not tell any signs of recovery at this time
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  • #24,576
  • Jun 10, 2011 8:11am Jun 10, 2011 8:11am
Quoting KillerWhale
Opened my first long again uj @ 80.09.

We'll see how it goes.
Took 12 pips profit, and waiting for a better long entry.
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  • #24,577
  • Jun 10, 2011 9:39am Jun 10, 2011 9:39am
is 79.69 the pivot or just retracement taking place ? Yen is getting really strong. buy near 80.05 with a SL of 79.90





http://i1187.photobucket.com/albums/z400/hyip1/mnn.gif
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  • #24,578
  • Jun 10, 2011 12:06pm Jun 10, 2011 12:06pm
Quoting Astroman
Maybe not and i think today will end up being kind of boring.

Got a Limit order in @ 79.86, I hope it gets hit.
Guess it didn't, huh?? Oh well, you didn't miss much. Piece of crap is still in the rut.
Make your losses in demo. Earn your profits live.
  • #24,579
  • Jun 10, 2011 4:52pm Jun 10, 2011 4:52pm
My attention has been on this pair since we have returned to the extremely important 80 level.

I just wanted to share some numbers and ideas for trading the UJ at this level.


Current Price:
80.32
Monthly channel
88.67 to 80.00
Weekly channel
84.22 to 80.00
Daily channel
80.67 to 80.00
Trading Range:
Range Last 6 Sessions: 79.67 to 81.00 = 133 pips
S/R Numbers:
82.11/81.72/81.36/81.00/80.74/80.34/80.00/79.67/79.37/78.85
Dominant Trend:
81.00/81.27/81.46 Strong S & R area


I have been very long yen for a very long time. I am still holding shorts on UJ from back when this pair was well over 100.
according my numerical analysis and probability factors if this pair breaks and closes below the 80 we should see the 76 retested. This happened on Wednesday although it was short lived as the pair then bounced to the 80.41 and has since channeled in a very tight range.

This was enough of a signal for me to start building shorts however and this pullback Ive seen as a great opportunity to take positions for the forthcoming drop.

Currently Short with 6 positions whose mean is 80.16 with a SL @ 81.40

this allocated 4.5% of my capital to risk which is par for the course for me.


Trade safely and with proper Money management everyone! Good luck!
  • #24,580
  • Jun 10, 2011 10:27pm Jun 10, 2011 10:27pm
i would try to enter outside the trigger line , many a times i see price breakout the triggger line and bounce back in.
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