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USD/JPY Discussion

  • #25,701
  • Aug 9, 2011 11:22am Aug 9, 2011 11:22am
I will wait till 76.60 to go long which is the demand area. SL 100 pips and TP 200 pips
  • #25,702
  • Aug 9, 2011 1:53pm Aug 9, 2011 1:53pm
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  • #25,703
  • Aug 9, 2011 4:55pm Aug 9, 2011 4:55pm
Quoting PipMaxzz
I will wait till 76.60 to go long which is the demand area. SL 100 pips and TP 200 pips
Hm...did not really get there...at least for today...but there is still a good chance, for as long as the Japanese stay out....
  • #25,704
  • Aug 9, 2011 5:02pm Aug 9, 2011 5:02pm
Quoting Astroman
I think the biggest effect has been psychological. Those who would normally take a Short position because of, say something they see on their charts, are now second guessing themselves and refraining for fear of an intervention.
True...in addition, I think that the fear of intervention is very real...if it becomes real or just stays to be a fear...I think both effects are welcome to our buddies in Asia.



Who knows who is gonna back them up the 3rd time they try it again.
  • #25,705
  • Aug 9, 2011 5:37pm Aug 9, 2011 5:37pm
anything can happend in these crazy market now,
with the banks intervening in major currencys jacking up the price in the wrong directions.
the price is sure to go up, but the problem is ,, how long???
it's not the natural direction the market would go if they hadn't intervene,
they are sort of trading against the trend.
how far are they willing to go?
because they are bound to stop some time in their futile attemts,
and then the market will again resume it's natural direction
and come down crashing hard!
I don't want to be in the wrong direction when that happends,
as I see it, this is only the beginning,
the US dollar is doomed!
Bulls are stupid Animals!especially when Im short!
  • #25,706
  • Aug 9, 2011 5:39pm Aug 9, 2011 5:39pm
Quoting tankokjian
its a global market why would jpy be so concerned about going against the fundamentals.
Strong fundamentals will pull their economy down...so they need to be against a strong Jen to stay strong...what an irony.

  • #25,707
  • Aug 9, 2011 6:33pm Aug 9, 2011 6:33pm
im not sure why i havent just been relentlessly buying CHFJPY for the past 3 months..... ever since it broke and retested the 91.50 its been an unstoppable force of nature
  • #25,708
  • Aug 9, 2011 9:29pm Aug 9, 2011 9:29pm
Again, perfect alignment of key indicators to enter short. But....in the context of it nearing record lows, which has been defended twice, I think it's better to long this one.
  • #25,709
  • Aug 9, 2011 9:32pm Aug 9, 2011 9:32pm
I think the boj intervention was a success, because it was much slower in falling than the chf and probably kept away many sellers.
  • #25,710
  • Aug 9, 2011 10:45pm Aug 9, 2011 10:45pm
Quoting werido
Again, perfect alignment of key indicators to enter short. But....in the context of it nearing record lows, which has been defended twice, I think it's better to long this one.
It's too close to the lows for me to long now. There's a lot of liquidity down there. I'll go long if it breaks 76 today. I see any long as short term though looking to exit at around 77.50 at highest or as soon as there is a spike if the BOJ want to give me 300 pips
  • #25,711
  • Aug 9, 2011 11:10pm Aug 9, 2011 11:10pm
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We are getting closed
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  • #25,712
  • Aug 9, 2011 11:45pm Aug 9, 2011 11:45pm
Likely to break 76 this time.
  • #25,713
  • Aug 9, 2011 11:46pm Aug 9, 2011 11:46pm
Quoting TrendTraders
Attached
We are getting closed
Waiting for my long 76.60 -100/+200. Hope we get there today
  • #25,714
  • Aug 10, 2011 12:02am Aug 10, 2011 12:02am
75.00 will be more likely on the downside target....
  • #25,715
  • Edited 3:39am Aug 10, 2011 3:10am | Edited 3:39am
Quoting PipMaxzz
Waiting for my long 76.60 -100/+200. Hope we get there today
Did your entry get triggered already?
  • #25,716
  • Aug 10, 2011 3:26am Aug 10, 2011 3:26am
Oanda spread at 5. Do they know something we don't?
  • #25,717
  • Aug 10, 2011 3:40am Aug 10, 2011 3:40am
Quoting 2+2=4ex
Oanda spread at 5. Do they know something we don't?
Hm...forex.com has the normal 2 pips as of now.
  • #25,718
  • Aug 10, 2011 3:57am Aug 10, 2011 3:57am
oanda always haves those funny spread in crucial zones.
  • #25,719
  • Edited 4:53am Aug 10, 2011 4:40am | Edited 4:53am
Intervention night - T minus 14h.

Looking at 76.0/ 76.2 / 76.4 (last low). As you can see, pre intervention was a steady decline on daily. Post intervention it fell sharply. BOJ would have done well to scare people by just hitting the rhetoric that they will constantly devalue the yen without notice.
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  • #25,720
  • Aug 10, 2011 4:52am Aug 10, 2011 4:52am
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