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USD/JPY Discussion

  • #26,821
  • Sep 6, 2011 6:25am Sep 6, 2011 6:25am
Quoting iono
Right 77.30 did not hold, however can you really call that a normal attempt at breaking the line and now an overall change in trend...I think we will see more ranging with more emphasis on the downside...my two cents, worth 2 cents (I entered the current trade after the spike and excitement)
so many S&R. i will not short UJ ,never from now .just because of the BOJ Intervention .good luck to you .
A chart helps those who can read it.
  • #26,822
  • Sep 6, 2011 7:28am Sep 6, 2011 7:28am
Quoting geniusztc
yeah~~~~ i am so lucky .but you actually the pro .learn from you .and now lets c if the 77.30 can be the support .
nah I'm not a pro, just lucky sometimes......
Don't be a hero. Don't have an ego. Always question yourself
  • #26,823
  • Sep 6, 2011 7:32am Sep 6, 2011 7:32am
Quoting geniusztc
so many S&R. i will not short UJ ,never from now .just because of the BOJ Intervention .good luck to you .
Yeah I hear you, I had some longs set up then after the spike saw that it was not the intervention we were looking for so punched out of the trades....looking at adding another short TP 77.00....if intervention now well I'll take my chances with stops.
Never been vouched
  • #26,824
  • Sep 6, 2011 8:08am Sep 6, 2011 8:08am
possible scenario....
Attached Image (click to enlarge)
Click to Enlarge Name: UJ Daily.png Size: 30 KB
If there was easy money lying around,no one would be forcing it into your
  • #26,825
  • Sep 6, 2011 8:11am Sep 6, 2011 8:11am
Quoting iono
Yeah I hear you, I had some longs set up then after the spike saw that it was not the intervention we were looking for so punched out of the trades....looking at adding another short TP 77.00....if intervention now well I'll take my chances with stops.
@USD-Bear a humble man .

@iono .long or short .i think the most important thing is where the SL position is .（lol）.
A chart helps those who can read it.
  • #26,826
  • Sep 6, 2011 8:38am Sep 6, 2011 8:38am
Quoting 2+2=4ex
I will buy at 76 because I think realjumper and FXmindset will intervene. lol.
I am consider intervene tomorrow IF you are going to short,how
Wait a minutes,where is your "As Expected Move"?

however,wish you trade well untie
If there was easy money lying around,no one would be forcing it into your
  • #26,827
  • Sep 6, 2011 9:57am Sep 6, 2011 9:57am
Usd/Jpy 4hr chart showing tweezer top. Ain't candle close time yet, but doesn't bode well if it does at this constellation ... clear rejection of price at approximately the same price as on August 25th.

Lot's of people will follow Boj/Mof actions/talk when Japan opens later today. Afraid that it will turn out to be a disappointing event, yet again. Tomorrow could show Usd/Jpy well under 77 again (where it belongs due to huge difference in economic health between the Us and Japan).

Imo, Usd/Jpy will sell of again, as it has done so for the past years !
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy.jpg Size: 143 KB
  • #26,828
  • Sep 6, 2011 11:09am Sep 6, 2011 11:09am
Quoting SIgurs
Usd/Jpy 4hr chart showing tweezer top. Ain't candle close time yet, but doesn't bode well if it does at this constellation ... clear rejection of price at approximately the same price as on August 25th.

Lot's of people will follow Boj/Mof actions/talk when Japan opens later today. Afraid that it will turn out to be a disappointing event, yet again. Tomorrow could show Usd/Jpy well under 77 again (where it belongs due to huge difference in economic health between the Us and Japan).

Imo, Usd/Jpy will sell of again, as it has done so for the past...
Remember that the market always discounts the future. When you look at Japan you see a sad future indeed. An old age society with a totally disfunctional political system (Prime Ministers in 7 years?), incapable of cutting ever increasing social programs, a debt that is unmanageable and no new blood to do the lower wage work. They dislike immigration like the plague. Yes. The US has many problems but the solutions are viable. They lack leadership for the moment but that will change very soon. Plenty of low wage immigrants. Yes, illegal but they do the work just the same. There is plenty of growth potential in the US and in the end it is growth that moves the currency.
Observation is the path to discovery.
  • #26,829
  • Sep 6, 2011 11:17am Sep 6, 2011 11:17am
Here is my contribution.
I think the long term trend is still down and it is still too early to think about trend reversal. Usually it will go into a side way before it reverse in the context of technical analysis.

Minwhile, it is not a bad idea to nimble some pips by taking a long position. I managed to nimble some profits just after NY open.
Attached Image (click to enlarge)
Click to Enlarge Name: daily uj.gif Size: 13 KB
  • #26,830
  • Sep 6, 2011 11:27am Sep 6, 2011 11:27am
Quoting SIgurs
Usd/Jpy 4hr chart showing tweezer top. Ain't candle close time yet, but doesn't bode well if it does at this constellation ... clear rejection of price at approximately the same price as on August 25th.
Point no longer valid as 4hr chart recovered nicely.
  • #26,831
  • Sep 6, 2011 11:35am Sep 6, 2011 11:35am
The long range till now has made a strong support level ~76.90, well below the current price. I've been a bull this whole time but I'm taking a scalp short to see a real correction, given that the last correction didn't come close to the support. I'm looking at a TP at 77 where at this point there are probably lots more buyers.
  • #26,832
  • Sep 6, 2011 11:39am Sep 6, 2011 11:39am
trying a sneaky short @ 77.50

Attached Image (click to enlarge)
Click to Enlarge Name: Picture0337.jpg Size: 114 KB
Don't be a hero. Don't have an ego. Always question yourself
  • #26,833
  • Sep 6, 2011 12:00pm Sep 6, 2011 12:00pm
Quoting USD-Bear
trying a sneaky short @ 77.50

Attachment
What's your TP? I'm adjusting mine to 77.30.
  • #26,834
  • Sep 6, 2011 12:03pm Sep 6, 2011 12:03pm
Quoting werido
What's your TP? I'm adjusting mine to 77.30.
77.20
Don't be a hero. Don't have an ego. Always question yourself
  • #26,835
  • Sep 6, 2011 12:08pm Sep 6, 2011 12:08pm
After waiting for the intervention that never happened, it finally looks like the USDJPY cross is going to move above 80
  • #26,836
  • Sep 6, 2011 12:18pm Sep 6, 2011 12:18pm
Three lines strikes...three white soldier or dragonfly this is ??
Attached Image (click to enlarge)
Click to Enlarge Name: UJ 4H.png Size: 29 KB
If there was easy money lying around,no one would be forcing it into your
  • #26,837
  • Sep 6, 2011 12:19pm Sep 6, 2011 12:19pm
Quoting FXMindset
Three lines strikes...three white soldier or dragonfly this is ??
What position are you taking?
  • #26,838
  • Sep 6, 2011 12:24pm Sep 6, 2011 12:24pm
Quoting werido
What position are you taking?
Buy stop @ 77.75 and another one @ 76.90 both SL 76.65

haha,I am crazy..Please dont follow me..
If there was easy money lying around,no one would be forcing it into your
  • #26,839
  • Sep 6, 2011 12:27pm Sep 6, 2011 12:27pm
Short @ 77.55

Target 77.00

SL 78.00
  • #26,840
  • Sep 6, 2011 12:43pm Sep 6, 2011 12:43pm
Quoting FXMindset
Three lines strikes...three white soldier or dragonfly this is ??
If you blend the last 4 candle together you will see a tall white candle shadowing all the rest and this indicates strong buy. It is not advicible to go short. It is better to wait for a few sessions later or wait until the Asian session to trade. The market is less volatile now, trading on candle sticks pattern is more accurate when volume is high because we need mass psychology to regconize these patterns.
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