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USD/JPY Discussion

  • #25,361
  • Aug 3, 2011 10:25pm Aug 3, 2011 10:25pm
This has been a very pleasant morning re-entered at 78.8 and still trailing.
"Don't Panic..."
  • #25,362
  • Aug 3, 2011 10:25pm Aug 3, 2011 10:25pm
Quoting Mr Breakout
And... touchdown! +50 pips!

Thank you Bank of Japan, thank you Tokyo. Now I will just liquidate half of my positions and trail the stop.

Do I still have time to order some sushi? Yes I do, indeed

well done you guys. iam yet to recover the remainder 80 pips loss..

uj is not a pair i trade actively, so unable to keep ion touch with goings on. i had a short position open for a long time. but the profit for that has now been erased.
  • #25,363
  • Aug 3, 2011 10:26pm Aug 3, 2011 10:26pm
Quoting Mr Breakout
And... touchdown! +50 pips!

Thank you Bank of Japan, thank you Tokyo. Now I will just liquidate half of my positions and trail the stop.

Do I still have time to order some sushi? Yes I do, indeed

Yes, indeed, go for it. It's about lunch time at the BOJ. They often pause for lunch (even during interventions!!!)
  • #25,364
  • Aug 3, 2011 10:42pm Aug 3, 2011 10:42pm
Quoting whatfx
well done you guys. iam yet to recover the remainder 80 pips loss..

uj is not a pair i trade actively, so unable to keep ion touch with goings on. i had a short position open for a long time. but the profit for that has now been erased.
Sorry about your loss. If I hadn't been out to dinner with my bf, I would've been in the same situation as you, would've shorted before the intervention and be caught with a 130+ pip loss. There was a short signal given on my chart and nobody could've forseen the intervention today. There have been talks about intervention for months but nothing was done until today.

I am sure you would recover in no time. Good luck!
Make your losses in demo. Earn your profits live.
  • #25,365
  • Aug 3, 2011 10:52pm Aug 3, 2011 10:52pm
Quoting whatfx
well done you guys. iam yet to recover the remainder 80 pips loss..

uj is not a pair i trade actively, so unable to keep ion touch with goings on. i had a short position open for a long time. but the profit for that has now been erased.
Sincerely sorry for your loss Whatfx, I feel your pain.

The YEN can stay quiet for a long long time, but when it moves it REALLY moves, especially when the all mighty Bank Of Japan is behind the move.

Buy hey, this is what trading is all about, you win some, you lose some, but you keep fighting until the end.
  • #25,366
  • Aug 3, 2011 10:55pm Aug 3, 2011 10:55pm
Quoting whatfx
well done you guys. iam yet to recover the remainder 80 pips loss..

uj is not a pair i trade actively, so unable to keep ion touch with goings on. i had a short position open for a long time. but the profit for that has now been erased.
80 pips is small. You should reduce your position size next time if 80 pips is hard to swallow...
  • #25,367
  • Aug 3, 2011 11:09pm Aug 3, 2011 11:09pm
Quoting Beacon
80 pips is small. You should reduce your position size next time if 80 pips is hard to swallow...
hi

this may sound strange but i rarely take losses of such high pips. my losses dont usually exceed 20 pips. so this huge move came as a shock. i profit consistently on a daily basis, hence this loss was a huge blow to me.

off to sleep now. good luck to all.
  • #25,368
  • Aug 3, 2011 11:12pm Aug 3, 2011 11:12pm
In my opinion, the next BUY point for the USD/JPY is around 78.50, for those traders who still want to participate in that (UP) move.

As always, trade at your own risk.
  • #25,369
  • Aug 3, 2011 11:13pm Aug 3, 2011 11:13pm
Quoting Forexia
nobody could've forseen the intervention today. There have been talks about intervention for months but nothing was done until today.
BOJ warned the market they would intervene after August 2nd. It's been all over the news for a week. Everyone was expecting it.

As a trader, it pays to keep up on current events.

http://www.reuters.com/article/2011/...7J13T420110801
  • #25,370
  • Aug 3, 2011 11:17pm Aug 3, 2011 11:17pm
Well charts showed double bottom at 76.5

I respect technical analysis and kept alerting that UJ bottom formation is over

Lets all ride the trend upwards
  • #25,371
  • Aug 3, 2011 11:20pm Aug 3, 2011 11:20pm
Quoting ultra_knight
Well charts showed double bottom at 76.5

I respect technical analysis and kept alerting that UJ bottom formation is over

Lets all ride the trend upwards
London, Zurich and Frankfurt traders will take over in a few hours and then we will probably see some immediate profit taking on the USD/JPY, so let's see...
  • #25,372
  • Aug 3, 2011 11:21pm Aug 3, 2011 11:21pm
Quoting Forexia
Don't think the uptrend will stop until it hits 80. And then it's going to be up to the traders.

damn i closed my longs too early at first pullback.. oh well.. better wait until after NFP for a better entry....
  • #25,373
  • Aug 3, 2011 11:29pm Aug 3, 2011 11:29pm
Looks like BOJ lunch is over already.
  • #25,374
  • Aug 3, 2011 11:33pm Aug 3, 2011 11:33pm
Quoting Mpt
Looks like BOJ lunch is over already.

seems like the rally's still got legs..
  • #25,375
  • Aug 3, 2011 11:40pm Aug 3, 2011 11:40pm
Quoting PipPipPip
loading up on ec, gc, and ej for swing longs.


gl.
change of plans; close out ej for 100 pips. dont like the fast move up.
  • #25,376
  • Aug 3, 2011 11:42pm Aug 3, 2011 11:42pm
The USD/JPY has now moved over 200 pips with virtually no retracement. (Long) European traders will soon see this move while having coffee and quickly take their profits, at least partially.
  • #25,377
  • Aug 3, 2011 11:46pm Aug 3, 2011 11:46pm
Quoting MarcPeanut
damn i closed my longs too early at first pullback.. oh well.. better wait until after NFP for a better entry....
What's NFP?
And who's going short now?
  • #25,378
  • Aug 3, 2011 11:50pm Aug 3, 2011 11:50pm
Quoting werido
What's NFP?
Non Farm Payroll. This report is due this Friday at 8:30 AM New York time.

Watch out for this sucker, it can reverse any trend in a heartbeat!
  • #25,379
  • Aug 3, 2011 11:50pm Aug 3, 2011 11:50pm
Quoting werido
What's NFP?
And who's going short now?

NFP - Non farm payrolls, due out on US Friday morning. Apart from interventions, the biggest market mover on forex.
  • #25,380
  • Aug 3, 2011 11:52pm Aug 3, 2011 11:52pm
could i be the only human on the planet that actually had a sell order in at 77.44. lol. sometimes i can be confinced i dictate the market flow through the opposite theory.
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