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USD/JPY Discussion

  • #24,641
  • Edited 12:11pm Jun 17, 2011 11:57am | Edited 12:11pm
try scalp at 80.14 , have gone quite a lot south already. time to move up. sl below S3. ,another way is short on the pull back. it has gone down 80pips ,there isnt strong fundamental reasons to support this, usdjpy has been ranging quite alot few days, chart is having many mix signals thus a good turn to enter for scalp or gump trade. what i meant was chart was suppose to show a strong bearish , but we seen new higher highs and when it hit 81.00 it sort of disturbed the bearish form.
  • #24,642
  • Jun 17, 2011 1:06pm Jun 17, 2011 1:06pm
Quoting KillerWhale
On the contrary, it's extremely easy, almost a guaranteed profit.
There is a bottom somewhere for this pair and as long as that is within limits, there's no danger. (Except maybe for my health / heart / nerves, but I'm used to that and I can handle it.)
Theoretically there is no sealing, so losses are limited, while profits are not.

I tend to go with Jumper, finally UJ will come back to "normal" levels which will be 86-90 to start with.
I will average this pair down to 75 without a problem, but I always leave a 500 pip space for "errors".
As...
500 pips space for errors ! you can make money on any pairs at any time. the question is what the leverage you are ,and how much you earn on one trade ? i think your leverage is 1:1, and i think we are doing the different things here .anyway ,good luck to you .
A chart helps those who can read it.
  • #24,643
  • Jun 17, 2011 4:20pm Jun 17, 2011 4:20pm
Quoting geniusztc
the question is what the leverage you are ,and how much you earn on one trade,and how much you earn on one trade i think your leverage is 1:1.
No I am not trading with leverage 1:1, and Yes I do make enough money.
May I suggest some good reading about calculating leverage?
www.babypips.com is a good start.

Happy trading, happy studying leverage and happy weekend.

Shamu
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  • #24,644
  • Jun 17, 2011 7:21pm Jun 17, 2011 7:21pm
we did not close below 80 like i wanted but i took the trade anyway...
  • #24,645
  • Jun 18, 2011 12:42am Jun 18, 2011 12:42am
I will avoid to trade USD/JPY in the next couple of weeks or until there is a clear trend.

http://lcchong.files.wordpress.com/2...ng?w=877&h=396

http://lcchong.files.wordpress.com/2...ng?w=877&h=398
  • #24,646
  • Jun 18, 2011 1:08am Jun 18, 2011 1:08am
Quoting clc4x
I will avoid to trade USD/JPY in the next couple of weeks or until there is a clear trend.

http://lcchong.files.wordpress.com/2...ng?w=877&h=396

http://lcchong.files.wordpress.com/2...ng?w=877&h=398
LOL, you might have to wait another 9 months, since the last 9 months there has been no clear trend.
Why would that change so suddenly?
Maybe just learn to adapt and trade within the limits the sideways movements give you?
There is enough room for very nice profits.
S
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  • #24,647
  • Jun 18, 2011 4:59am Jun 18, 2011 4:59am
with QE2 easing , dollar will be destined to rise, while yen is not going to have a good strong momentum. 80.88 to 80.08 is a fantastic pull back to ride on this pull back. BOJ and investors will be rallying up this pair like we never seen before..

Quote
USD: WHY END OF QE2 IS GOOD FOR DOLLAR

While most investors will be sitting at the edge of their seats waiting for breaking news about Greece, it will be important for everyone to not lose sight of the other big event risk next week, which is the Federal Reserve’s monetary policy announcement. We are nearing the end of the central bank’s $600 billion asset purchase program and the question is will the Fed be dismayed enough about the recent disappointments in U.S. data and the risk that the sovereign debt crisis poses to change their plans on monetary policy. Last month, in the first ever post monetary policy meeting press conference for Fed Chairman Bernanke, he laid out the central bank’s game plan once asset purchases end in June. At the time, he said reinvestments of payments from principal securities will continue which means that the balance sheet and level of stimulus will remain unchanged. Their plans to continue easy monetary policy indicated that the doves remain in control and based upon the deterioration in job growth and the drop in retail sales there is a good chance that nothing has changed. Recent comments from Bernanke suggest that he is worried about the labor market and consumer spending, so tighter monetary policy is not even a consideration. The idea of QE3 has been floated around but the deterioration in U.S. data has not been severe and consistent enough to warrant the implementation of such a nuclear option. QE2 received a significant amount of opposition both inside and outside of the Federal Reserve and QE3 would make Bernanke even more politically unpopular. More volatility is not what the market needs right now and the smartest thing for Bernanke to do is reassure the market that the central bank is progressing as planned. This morning's U.S. economic reports were mixed, which confirms our belief that there is no reason for the central bank to rush. With equity prices falling and job growth evaporating, the deterioration in consumer confidence was not a major surprise. The University of Michigan Consumer Sentiment survey fell from 74.3 to 71.8 in June. Leading indicators on the other hand rose 0.8 percent, which was more than double the market's expectations. Instead the more interesting question to ask right now is what could happen to the dollar once QE2 ends. To answer this question, we can examine how the dollar behaved when the first round of Quantitative Easing ended around April 2010. The dollar index rose 10 percent between April and mid June but over the next few months, it trended lower as investors considered the possibility of QE2. Since QE3 is not a possibility this time around, the end of QE2 could spark a dollar rally based on the prospect of higher yields and less concerns about inflation or currency debasement. Aside from the FOMC rate announcement on Wednesday and Bernanke’s press conference shortly after, housing market numbers will be released from the U.S. along with jobless claims, durable goods and the final first quarter GDP report.
  • #24,648
  • Jun 18, 2011 2:41pm Jun 18, 2011 2:41pm
Quoting USD-Bear
would surely like to congratulate you if it makes that!
Also, I see 77 before it bulls back above 90. Thats just me though. On the otherhand, my sl right now is at 100pips above my initial position. lol. lets hope i am wrong.

GL bro!
  • #24,649
  • Jun 18, 2011 3:05pm Jun 18, 2011 3:05pm
Quoting PipPipPip
Also, I see 77 before it bulls back above 90. Thats just me though. On the otherhand, my sl right now is at 100pips above my initial position. lol. lets hope i am wrong.

GL bro!
Quite possible.
I'm looking for buying opportunities, at this moment with target 81, but knowing myself, the longer it takes to get there, the higher I will take my profit. So if it goes down first, I won't be surprised to see my target at 82.
Lol, if I need a lot of patience, then why not just a little bit more patience?

S
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  • #24,650
  • Jun 18, 2011 3:21pm Jun 18, 2011 3:21pm
Quoting KillerWhale
Quite possible.
I'm looking for buying opportunities, at this moment with target 81, but knowing myself, the longer it takes to get there, the higher I will take my profit. So if it goes down first, I won't be surprised to see my target at 82.
Lol, if I need a lot of patience, then why not just a little bit more patience?

S
exactly. thats what i am seeing too. similar mentality as me! for instance, i am in on cable right now, and i was -200 pip under water mid week last week, and ending this week at -35. am still holding. i was saying to myself, if i am willing to risk 200 pips, i am going to wait that big fish out!

green pips to ya!
its also good to see you are around again man!
  • #24,651
  • Jun 18, 2011 3:41pm Jun 18, 2011 3:41pm
hey i bought USD/JPY at 80.06,
i need some idea what to do !@!@!
i cover it for 150 pips equity.. should i wait the big fish.. or run away!
  • #24,652
  • Jun 19, 2011 3:02am Jun 19, 2011 3:02am
77 has not happen before , how do u see 77 ?

Quoting PipPipPip
Also, I see 77 before it bulls back above 90. Thats just me though. On the otherhand, my sl right now is at 100pips above my initial position. lol. lets hope i am wrong.

GL bro!
  • #24,653
  • Jun 19, 2011 9:11am Jun 19, 2011 9:11am
strong sell coming on yen pairs... please watch carefully the japanese yen pairs this week for nice profits...

follow my journal
http://www.forexfactory.com/showthre...=1#post4705158
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  • #24,654
  • Jun 19, 2011 12:14pm Jun 19, 2011 12:14pm
there is a massive intervention again. Besides at the end of the month there will be a strong weakening on the yen side. Industrial production will show us a very nice rise. Nikkei will jump....experienced forex traders know what this means.
  • #24,655
  • Edited 1:00pm Jun 19, 2011 12:47pm | Edited 1:00pm
Quoting realjumper
Yes, I have a set TP before I even enter the trade. Be aware, that TP does not mean 'Take Profit'.......it means 'Target Price'.

So I know my target before I enter, and I set my SL behind a known S/R level.....and that might be a pivot, a fib, previous S/R level etc. I move my SL to B/E at a convenient time and I enjoy the free trade.

If I can't be watching and the PA reverses, I will at least get some profit. If it reaches my target, great. If it takes off again after reaching my target, and I'm not able to re-enter, it's all good because...
Thanks for the advice, Jumper, I went ahead and looked into Fibs and learned about Pivots and I can see a much clearer picture of potential S/R levels.
  • #24,656
  • Jun 20, 2011 3:42am Jun 20, 2011 3:42am
finally bears seems to be winning... and breaking the pivot , haha bears win.
  • #24,657
  • Jun 20, 2011 3:46am Jun 20, 2011 3:46am
Quoting tankokjian
finally bears seems to be winning... and breaking the pivot , haha bears win.
Did you mistype?

Finally the bears are winning? The Bears have been on a pretty long winning streak.

What pivot was broken?

You lost me.
  • #24,658
  • Jun 20, 2011 4:32am Jun 20, 2011 4:32am
since the opening price couldnt break through 80.20 finally it vomitted . he he.

Quoting Astroman
Did you mistype?

Finally the bears are winning? The Bears have been on a pretty long winning streak.

What pivot was broken?

You lost me.
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  • #24,659
  • Jun 20, 2011 4:39am Jun 20, 2011 4:39am
It did break through 80.20. Not by much but this Pair has been very tight.

80.35 is the next number I am watching for with 81 in my sights.
  • #24,660
  • Jun 20, 2011 5:27am Jun 20, 2011 5:27am
Quoting Astroman
It did break through 80.20. Not by much but this Pair has been very tight.

80.35 is the next number I am watching for with 81 in my sights.
I see a bit of a retrace to perhaps daily pivot area 80.22, however we should at the very least during the U.S. trading time frame see 80.50...no real news other then the EU delaying the decision so the risk aversion thing is back on for the moment....how about everyone buy dollars come on
Never been vouched
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