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USD/JPY Discussion

  • #24,661
  • Jun 21, 2011 4:59am Jun 21, 2011 4:59am
interesting to see price following the trendline =)
  • #24,662
  • Jun 21, 2011 10:04am Jun 21, 2011 10:04am
Stupid piece of crap is in range again all because everybody is afraid of the "disorderly movement" of the pair. Well if the BoJ is afraid of the movement in the pair, why don't they take the pair off the market?

Right now, the pair is not much different to a fixed rate currency.
Make your losses in demo. Earn your profits live.
  • #24,663
  • Jun 21, 2011 1:35pm Jun 21, 2011 1:35pm
Quoting tankokjian
77 has not happen before , how do u see 77 ?
based on the dollar index (livecharts.co.uk). i've been selling the dollar across most majors(especially the usdnok pair), and it has given more return compare to holding a fast position of buying the dollar. this could last until late july. imo, it has been a less risky position. now for the yen, it could also be possible that intervention like what most has indicated could be a factor. Even if it does happen, i think the news will come up wit another excuse to back up why the yen has moved downward.

thanks for the question!
GL!
  • #24,664
  • Jun 21, 2011 8:38pm Jun 21, 2011 8:38pm
Japan relies in trade flow to substain its economy, its capital flow is negative but trade flow is positive.if traders decides Yen is too expensive to buy, china is just next door. Jap cannot survive on 77, it will be kinda state of emergency if that happens.


Quoting PipPipPip
based on the dollar index (livecharts.co.uk). i've been selling the dollar across most majors(especially the usdnok pair), and it has given more return compare to holding a fast position of buying the dollar. this could last until late july. imo, it has been a less risky position. now for the yen, it could also be possible that intervention like what most has indicated could be a factor. Even if it does happen, i think the news will come up wit another excuse to back up why the yen has moved downward.

thanks for the question!
GL!
  • #24,665
  • Jun 21, 2011 8:48pm Jun 21, 2011 8:48pm
Quoting Forexia
Stupid piece of crap is in range again
Not much movement at all but it has been reliable. It falls around 80.10 or so Buy, goes up over 80.20 or so exit and go short, falls back down to 80.10 or so Buy, goes up over 80.20 or so exit and go short, falls back down to 80.10 or so Buy, goes up over 80.20 or so exit and go short, falls back down to 80.10 or so Buy, goes up over 80.20 or so exit and go short, ..........



I hate being Short on this Pair though even for an in and outer. Still waiting for it to break 80.35 for another run up to 81.
  • #24,666
  • Jun 21, 2011 9:13pm Jun 21, 2011 9:13pm
Quoting tankokjian
Japan relies in trade flow to substain its economy, its capital flow is negative but trade flow is positive.if traders decides Yen is too expensive to buy, china is just next door. Jap cannot survive on 77, it will be kinda state of emergency if that happens.
That is true too.
Thanks and GL!
  • #24,667
  • Jun 22, 2011 12:25am Jun 22, 2011 12:25am
Quoting Astroman
Not much movement at all but it has been reliable. It falls around 80.10 or so Buy, goes up over 80.20 or so exit and go short, falls back down to 80.10 or so Buy, goes up over 80.20 or so exit and go short, falls back down to 80.10 or so Buy, goes up over 80.20 or so exit and go short, falls back down to 80.10 or so Buy, goes up over 80.20 or so exit and go short, ..........



I hate being Short on this Pair though even for an in and outer. Still waiting for it to break 80.35 for another run up to 81.
Making 10 pips a day while risk getting all your profits wiped out IF it breaks out of range?!! Are you kidding me?

Nah, I am not trading this crap until someone who has the guts steps in and moves the market to make the yen movement "disorderly" again.

Your analysis is good thou!! Good luck!
Make your losses in demo. Earn your profits live.
  • #24,668
  • Jun 22, 2011 12:48am Jun 22, 2011 12:48am
H&S on 4-h chart?
I do not believe that it will break down neckline, coz there will be a high possibility of intervention
  • #24,669
  • Jun 22, 2011 1:54am Jun 22, 2011 1:54am
Quoting Forexia
Making 10 pips a day while risk getting all your profits wiped out IF it breaks out of range?!! Are you kidding me?

Nah, I am not trading this crap until someone who has the guts steps in and moves the market to make the yen movement "disorderly" again.

Your analysis is good thou!! Good luck!
I'm with you on this one.....there is nothing here worth the risk, imo
Doing what you like is Freedom. Liking what you do is Happiness.
  • #24,670
  • Jun 22, 2011 11:32am Jun 22, 2011 11:32am
any indication?
  • #24,671
  • Edited 12:56pm Jun 22, 2011 12:39pm | Edited 12:56pm
Quoting tkhlam
any indication?
as i heard, and was told, if there is, it probably would have already been in the plans to attack the pair imo.

trade safe. GL!
  • #24,672
  • Jun 22, 2011 3:32pm Jun 22, 2011 3:32pm
Quoting Forexia
Making 10 pips a day while risk getting all your profits wiped out IF it breaks out of range?!! Are you kidding me?

Your analysis is good thou!! Good luck!
Making more than 10 a day on this one and I will take 20 a day any day of the week.

It will eventually break this range, hopefully to the upside, if it breaks out against my position my SL is in place so I'm cool.
  • #24,673
  • Jun 22, 2011 3:50pm Jun 22, 2011 3:50pm
Quoting Astroman
Making more than 10 a day on this one and I will take 20 a day any day of the week.

It will eventually break this range, hopefully to the upside, if it breaks out against my position my SL is in place so I'm cool.
you're short atm? (80.32)
Don't be a hero. Don't have an ego. Always question yourself
  • #24,674
  • Jun 22, 2011 8:57pm Jun 22, 2011 8:57pm
Quoting Astroman
Making more than 10 a day on this one and I will take 20 a day any day of the week.

It will eventually break this range, hopefully to the upside, if it breaks out against my position my SL is in place so I'm cool.
Awesome!! Go make the Yen "disorderly"!!

Hope you catch the "Intervention" bullet train! Good pipping to you!
Make your losses in demo. Earn your profits live.
  • #24,675
  • Jun 23, 2011 12:56am Jun 23, 2011 12:56am
Quoting USD-Bear
you're short atm? (80.32)
Been on the sidelines since before the Greece vote, Fed decision and B.B. press conference.

I put in a Long limit order @ 80.42 before I went to bed in case it broke through 80.35 ( nice resistance around that level and it was also my W.P.P.). I see it broke through and got a little above 80.60 which seems huge the way this Pair has been behaving lately.

Unfortunately it didn't hit my target and by the time I got up it has dropped back down to my entry level so I am still holding Long. Down 1 Pip at the moment.
  • #24,676
  • Jun 23, 2011 1:02am Jun 23, 2011 1:02am
Quoting Forexia
Good pipping to you!
Thanks, same to you as well.

I do not know what it is about this Pair but how many times we seen it get stuck in this very tight trading range, sometimes for several days, and then it makes a strong move one way or the other and get caught back into this tight little trading range again?

Just like a gentle little wave going up and down inside the range several times a day for several days.
  • #24,677
  • Jun 23, 2011 2:24am Jun 23, 2011 2:24am
Raising my SL 6 above BE. Going to get something out of this stingy Pair.

Target still @ 80.94 with a T.S. to kick in if reached.
  • #24,678
  • Jun 23, 2011 3:53am Jun 23, 2011 3:53am
I'm out.

Could have, should have managed this trade better but one does have to sleep.

80 is still strong support and I still like 80.35. A better price will come along to go Long again. In the mean time...no Shorts.
  • #24,679
  • Jun 23, 2011 7:33am Jun 23, 2011 7:33am
1-2-3 pattern confirmed breakout, if 80.62 holds as new support, target 1 = 81.00, target 2 = 81.6 ..if not it goes down to 80.3 at least
  • #24,680
  • Jun 23, 2011 7:39am Jun 23, 2011 7:39am
Quoting torkay77
1-2-3 pattern confirmed breakout, if 80.62 holds as new support, target 1 = 81.00, target 2 = 81.6 ..if not it goes down to 80.3 at least
80.30 seems like a good level for SL at this point. I am willing to risk further and am firm @ 79.80-80.00. Either way we are not too far off.

81.40 could be a real possibilty by end of week.
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