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USD/JPY Discussion

  • #26,021
  • Aug 17, 2011 3:54am Aug 17, 2011 3:54am
Quoting fosking
Well at least you shouldn't blow your account with a 3 pip SL.
Yes he did a long with 3 pips SL on a 500 standard lots.

Btw the TL has been tested and broken. Shorted this pair upon BO.

See u guys @ 75.58
trade safe
  • #26,022
  • Aug 17, 2011 4:35am Aug 17, 2011 4:35am
Jpy losing some ground against the Eur/Cad/Gbp/Aud but NOT against the Usd which is still hoovering around the lows . Those thinking that the BOJ will step in soon could be in for a nasty treat.

Short, as it has been for many months, is still the safest way to trade this pair. No technical reversal in sight.
  • #26,023
  • Aug 17, 2011 6:01am Aug 17, 2011 6:01am
Wouldn't be surprised to see new all time lows in the next few days. Even after recent steep decline, no sign of reversal. Last intervention effects have been erased with force in no time.

BOJ will think twice before acting alone again. USD is being sold all over place place and more to come, imo.
  • #26,024
  • Aug 17, 2011 6:19am Aug 17, 2011 6:19am
Struggling to hold on to 0.7650, which imo will not hold. Once leaving behind 0.7650 it will try to settle around 0.7630. If that level fails to hold as well .... go hide below a rock ;-)
Attached Image (click to enlarge)
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  • #26,025
  • Aug 17, 2011 6:25am Aug 17, 2011 6:25am
Quoting USD-Bear
at nr. 30
sorry？ nr.30 ? can not understand
A chart helps those who can read it.
  • #26,026
  • Aug 17, 2011 6:25am Aug 17, 2011 6:25am
Quoting SIgurs
Struggling to hold on to 0.7650, which imo will not hold. Once leaving behind 0.7650 it will try to settle around 0.7630. If that level fails to hold as well .... go hide below a rock ;-)
fall in CHF means rise in Yen , because all attention has been shifted to yen . BOJ will not hold.
  • #26,027
  • Aug 17, 2011 6:28am Aug 17, 2011 6:28am
Quoting fosking
If you are gambling on a BOJ intervention, it's account suicide.
There are no signs we are at the bottom yet, so if you are trying to pick the bottom, keep your stop tight!
Don't end up blowing your account and regretting it.
no ,i am not gambling on the boj intervention .i just saw the demand area here .i am not sure now .may be it will hit my SL soon.
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 22 KB
A chart helps those who can read it.
  • #26,028
  • Aug 17, 2011 6:38am Aug 17, 2011 6:38am
Quoting tankokjian
fall in CHF means rise in Yen , because all attention has been shifted to yen . BOJ will not hold.
BOJ won't do a thing, they will sit tight and try and gather support for a joint intervention. Imo, in vain as the US is most certainly not interested in bringing the Jpy down as it would hurt their already poor economy even more.

The only way US economy might recover is to keep the Usd as low as possible thus making exports more attractive -- Usd is being sold all over the place, not only today. Fresh numbers in about 1 hour, which will again show that the US economy is still in a bad state.

US economic reign is coming to an end -- too much debt, constant moneyprinting and a slowly disappearing middle class !
  • #26,029
  • Aug 17, 2011 7:03am Aug 17, 2011 7:03am
try short . tonight we will see a new low,
  • #26,030
  • Aug 17, 2011 7:10am Aug 17, 2011 7:10am
EFSF is too small for Italy and Spain. Unless they increase the size... EU is in deep trouble...

10 year bond yields on Italy still at 5%
  • #26,031
  • Aug 17, 2011 7:17am Aug 17, 2011 7:17am
why are u so sure , it is the best time to intervene , u get stopped out in 1/2 a second if BOJ press the button.

Quoting SIgurs
BOJ won't do a thing, they will sit tight and try and gather support for a joint intervention. Imo, in vain as the US is most certainly not interested in bringing the Jpy down as it would hurt their already poor economy even more.

The only way US economy might recover is to keep the Usd as low as possible thus making exports more attractive -- Usd is being sold all over the place, not only today. Fresh numbers in about 1 hour, which will again show that the US economy is still in a bad state.

US economic reign is coming to an end -- too much debt,...
  • #26,032
  • Aug 17, 2011 7:30am Aug 17, 2011 7:30am
Quoting tankokjian
why are u so sure , it is the best time to intervene , u get stopped out in 1/2 a second if BOJ press the button.
What's left of the early August intervention ? Indeed, nothing. It's as if it never took place. Forex markets are way too big for individual central banks to intervene. Confident that the BOJ sees that as well. Due to lack of foreign support they will stay put and do nothing, despite earlier tough statements.

There is no use in spending efforts and money when long term results are non existent. They tried to force their way out of this, unfortunately for them it failed.
  • #26,033
  • Aug 17, 2011 7:36am Aug 17, 2011 7:36am
Hello Guys,
USD/JPY could resume the primary trend if the BOJ doesn't step in. We could have a fake breakout of 76.30 support (stop loss hunting). I hold to my long position with SL few pips under 76 level... TP around 50 DMA at 79

doctortyby
  • #26,034
  • Aug 17, 2011 7:40am Aug 17, 2011 7:40am
thanks SIgurs , took a short 76.524 , SL 76.570 , 15M 21ema fending well.
  • #26,035
  • Aug 17, 2011 7:51am Aug 17, 2011 7:51am
FWIW: $USDJPY Market talk of large sized bid in close proximity to all time lows
  • #26,036
  • Aug 17, 2011 7:55am Aug 17, 2011 7:55am
Quoting SIgurs
FWIW: $USDJPY Market talk of large sized bid in close proximity to all time lows
the prize will be amazing , talking about S3 at .31.
  • #26,037
  • Aug 17, 2011 8:13am Aug 17, 2011 8:13am
I think will test 75.70 area before going up to 80.00....
  • #26,038
  • Edited 8:39am Aug 17, 2011 8:25am | Edited 8:39am
Quoting Demon Bane
I think will test 75.70 area before going up to 80.00....
Why the 0.7570 area ? Why not 0.75, 0.74 or 0.72 ?

Afterall, US economy will lackluster for some time to come.Japanese numbers showed some strenght this week.

So, where should this bounce come from ? BOJ ?
  • #26,039
  • Aug 17, 2011 8:38am Aug 17, 2011 8:38am
JPY was too high to rise
  • #26,040
  • Aug 17, 2011 10:22am Aug 17, 2011 10:22am
S1 should be broken soon....
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