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USD/JPY Discussion

  • #26,141
  • Aug 19, 2011 9:52am Aug 19, 2011 9:52am
Quoting ultra_knight
BOJ won't intervene too often...76 broken
the opposite is true for BOJ. so they intervene soon.
  • #26,142
  • Aug 19, 2011 9:55am Aug 19, 2011 9:55am
http://www.mckellen.com/images/0933.jpg


recovery across various pairs , gandalf coming to aid unless BOJ wants to short his own pair.
  • #26,143
  • Aug 19, 2011 9:56am Aug 19, 2011 9:56am
Some one smarter than me, please try to give me some psychoanalysis of BOJ's methodology surrounding the use of the CAD and AUD.
Throw in the GBP and EUR too if you like.
I'm loving it but I don't understand it.
More than a grain of salt is advisable
  • #26,144
  • Aug 19, 2011 10:02am Aug 19, 2011 10:02am
the last drop ???
A chart helps those who can read it.
  • #26,145
  • Aug 19, 2011 10:12am Aug 19, 2011 10:12am
seems like they shouldnt have intervene in the first place. currently market is very unstable , EU and USD are like a balance.
Quoting jabbawest
Some one smarter than me, please try to give me some psychoanalysis of BOJ's methodology surrounding the use of the CAD and AUD.
Throw in the GBP and EUR too if you like.
I'm loving it but I don't understand it.
  • #26,146
  • Edited 10:42am Aug 19, 2011 10:20am | Edited 10:42am
Without Intervention I am believe 76.30 - 76.xx become resistance now
Personally I think the more you expect BOJ the more you far away from being a success trader,If the price keep drop lower doesnt mean you need to keep buying like crazy,thats absolutelly suicide

Look the chart carefully,Focused and keep drawing,avoid any speculation.Buying/Selling under confirmation and keep look where's the breakout area plus Good Position size & Risk of stop loss and the most importantly treat forex as your own business( I mean change the Mindset),Slowly but sure you will success

Note : Never ever treat Forex as your quick rick business.The second you do.You Dead
If there was easy money lying around,no one would be forcing it into your
  • #26,147
  • Aug 19, 2011 10:26am Aug 19, 2011 10:26am
Quoting tankokjian
seems like they shouldnt have intervene in the first place. currently market is very unstable , EU and USD are like a balance.
I agree with not intervening but now that they've done it, "What's the Frequency Kenneth?"
This is SO direction-less.
More than a grain of salt is advisable
  • #26,148
  • Aug 19, 2011 11:56am Aug 19, 2011 11:56am
thanks, i think your post makes absolute sense.

Quoting FXMindset
Without Intervention I am believe 76.30 - 76.xx become resistance now
Personally I think the more you expect BOJ the more you far away from being a success trader,If the price keep drop lower doesnt mean you need to keep buying like crazy,thats absolutelly suicide

Look the chart carefully,Focused and keep drawing,avoid any speculation.Buying/Selling under confirmation and keep look where's the breakout area plus Good Position size & Risk of stop loss and the most importantly treat forex as your own business( I mean change the Mindset),Slowly but...
  • #26,149
  • Aug 19, 2011 12:08pm Aug 19, 2011 12:08pm
will this HAMMER gives suprise ?

the position of the daily close price will be important , i think .
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 21 KB
A chart helps those who can read it.
  • #26,150
  • Edited 12:34pm Aug 19, 2011 12:13pm | Edited 12:34pm
Quoting tankokjian
thanks, i think your post makes absolute sense.
You are welcome Sir
Here the Tips : If you afraid miss the BOJ intervention Opportunity I am suggest you put buy stop rather than buy limit,Detect which is the potential breakout level and put your buy stop from there.Dont forget you put your protection aka StopLoss Also

I am closely watching the 4 H chart now and it seem that we land in the another new downtrend

Please take look the UJ 4H Chart Below
Attached Image (click to enlarge)
Click to Enlarge Name: UJ 4H.png Size: 30 KB
If there was easy money lying around,no one would be forcing it into your
  • #26,151
  • Aug 19, 2011 12:17pm Aug 19, 2011 12:17pm
Quoting SIgurs
Mr Noda can hint and say anything he wants. The longer he waits to actually do something, the less the impact his words will have. At the end they will be reason for a good laugh only. Barking dogs never bite. Sounds to me he's more like a chihuahua than a raging bulldog.

They apparently don't seem to realize that verbal war will not do the trick, it's time for action. Waiting longer will result in smaller effect.

If they fail to take action Monday latest, Usd/Jpy will surely drop below 76.00 (if not today).
It's all about credibility and the BOJ is losing it very fast. Usd/Jpy will drop even further than today's low if no action will be taken on Monday.

It's time to either let the Jpy flow freely or to intervene. Verbal powerplay doesn't work, quite on the contrary, it's the shortest way to loose credibility and an even lower Usd/Jpy rate.
  • #26,152
  • Aug 19, 2011 12:41pm Aug 19, 2011 12:41pm
Quoting FXMindset
You are welcome Sir
Here the Tips : If you afraid miss the BOJ intervention Opportunity I am suggest you put buy stop rather than buy limit...
How near to current price would you place your buystop?
What happens if it's too near could be seen last asian session when there was a fake breakout
  • #26,153
  • Aug 19, 2011 12:47pm Aug 19, 2011 12:47pm
Bank of Japan considers possible additional easing according to Sankei


if it passes the 2 levels 76.55 and 76.64 , pirce will spike up to 76.84. it seems like now 76.90 has become a formitable resistance.
  • #26,154
  • Aug 19, 2011 12:48pm Aug 19, 2011 12:48pm
Quoting iwjw
How near to current price would you place your buystop?
What happens if it's too near could be seen last asian session when there was a fake breakout
Hello There,

We Would Know On Monday 2 Hours Before Tokyo Open and We will see then later as I am closely watching the 4H stick now
If there was easy money lying around,no one would be forcing it into your
  • #26,155
  • Aug 19, 2011 1:40pm Aug 19, 2011 1:40pm
Quoting SIgurs
It's time to either let the Jpy flow freely or to intervene.
So you guys are still waiting for that big BOJ intervention that will make you rich overnight?

Jokes aside I think the Yen is too nervous these days, judging by all these weird short-lived spikes coming from nowhere. Personally I am not touching the USD/JPY at the moment, too unpredictable.
  • #26,156
  • Aug 19, 2011 3:11pm Aug 19, 2011 3:11pm
What,9 days now? $Y closes in 76.50-80 range, say what you will, BOJ is holding this level.
  • #26,157
  • Aug 19, 2011 3:31pm Aug 19, 2011 3:31pm
So, we got a stop loss hunting for USD/JPY today... It took my SL at 75,95
Looking to enter long again on a medium term...
  • #26,158
  • Aug 19, 2011 4:24pm Aug 19, 2011 4:24pm
Quoting wallet
What,9 days now? $Y closes in 76.50-80 range, say what you will, BOJ is holding this level.
Staying 9 days inside a 350 pip range is really not that unusual for the yen.
  • #26,159
  • Aug 19, 2011 4:26pm Aug 19, 2011 4:26pm
"I am watching the Forex market very closely and will take decisive steps" said Noda one last time.
Unfortunately, Prime Minister Naoto Kan lets him know exactly what the rest of the market thinks.

Attached Image
  • #26,160
  • Aug 19, 2011 4:33pm Aug 19, 2011 4:33pm
Quoting FXMindset
Hello There,

We Would Know On Monday 2 Hours Before Tokyo Open and We will see then later as I am closely watching the 4H stick now
Problem with buystop I'm seeing is that your broker could fill you with a huge gap. If BOJ goes in, they do it with big volume what will cause an immediate spike. Your buystop is excecuted at best price availlable as soon as your limit is hit and automatically widens your stoploss because of the possible much higher entry price
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