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USD/JPY Discussion

  • #29,161
  • Nov 15, 2011 6:29am Nov 15, 2011 6:29am
Another day passes - former resistance still holds as support

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Red line 4hr 400sma
  • #29,162
  • Nov 15, 2011 3:14pm Nov 15, 2011 3:14pm
Went long, not in hope to get something huge in waiting for intervention but just to get some ordinary pips for the living
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  • #29,163
  • Nov 15, 2011 3:57pm Nov 15, 2011 3:57pm
Azumi: expects timely steps on yen by BOJ
  • #29,164
  • Nov 15, 2011 7:20pm Nov 15, 2011 7:20pm
Quoting aragami
Azumi: expects timely steps on yen by BOJ
... but intervention is unlikely - very unlikey IMHO - to be among the steps.

BoJ and the gov't like to give it a shot every once in a while (over these past few years) but the current rumblings and reading between the lines don't lean towards intervention as the tool to be used. It did after all cost them $40B+ this last round, and got them essentially nothing. The pendulum may eventually swing towards despair and "let's try anything, even intervention" again, but we're likely 200+ pips away from that next repetitive cycle. Why? There is incredible lack of clarity and direction in too many of the key pairs at this point: xxxUSDs are rather unclear, and even as the likes of EU and AU decline there is little impact on UJ, plus, if we get a US equity rally before Thanksgiving as many expect, it's bye-bye USD, again.

Below's the similar forexlive.com perspective; here's the Reuter's referenced link.
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  • #29,165
  • Nov 16, 2011 12:42am Nov 16, 2011 12:42am
4H Outlook
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If there was easy money lying around,no one would be forcing it into your
  • #29,166
  • Nov 16, 2011 6:29am Nov 16, 2011 6:29am
Seems likely to fall to 75.XX again....the USD is basically weak....
with the JPY so strong....another BOJ intervention unlikely....
  • #29,167
  • Nov 16, 2011 9:17am Nov 16, 2011 9:17am
slowest.... pair.... ever....
  • #29,168
  • Nov 16, 2011 10:38am Nov 16, 2011 10:38am
Quoting jeremyyn
slowest.... pair.... ever....
Yet another race between the snail and the turtle ....

Japan depend on the Turtle USA and The Turtle USA would love to just play the piggy back ride ...
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  • #29,169
  • Nov 16, 2011 11:05am Nov 16, 2011 11:05am
Quoting jeremyyn
slowest.... pair.... ever....

  • #29,170
  • Nov 16, 2011 11:59am Nov 16, 2011 11:59am
But i can tell you when it will move..... 5 minutes after i close off my trades.
  • #29,171
  • Nov 17, 2011 3:13am Nov 17, 2011 3:13am
Potential Break Down Again
Japan - We will keep intervening until satisfied ?
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If there was easy money lying around,no one would be forcing it into your
  • #29,172
  • Nov 17, 2011 4:08am Nov 17, 2011 4:08am
Japan's intervention sign of new tactics, necessity

They might be working on something...
  • #29,173
  • Nov 17, 2011 9:14am Nov 17, 2011 9:14am
Personnally, I put some pending buy orders around 75 pips above current price on USD/JPY and GBP/JPY, with a SL of 10 and TL of 10 .. (I do update them couple of times during the day to keep them at a fair distance to the current price)

Gamma
  • #29,174
  • Nov 17, 2011 9:32am Nov 17, 2011 9:32am
Quoting Gamma_Gallus
Personnally, I put some pending buy orders around 75 pips above current price on USD/JPY and GBP/JPY, with a SL of 10 and TL of 10 .. (I do update them couple of times during the day to keep them at a fair distance to the current price)

Gamma
... just do be very very cautious and aware that there can be false (speculative, bid reaching) spikes that can last a few seconds, meaning, on a buy stop you have placed there, you can get a terrible fill, and then a terrible exit, meaning a possible loss - these are part of the games that the market plays before the prospect of an intervention and afterwards. The charts around and especially after confirmed interventions have many of these.
  • #29,175
  • Nov 17, 2011 9:38am Nov 17, 2011 9:38am
Quoting Beljevina
... just do be very very cautious and aware that there can be false (speculative, bid reaching) spikes that can last a few seconds, meaning, on a buy stop you have placed there, you can get a terrible fill, and then a terrible exit, meaning a possible loss - these are part of the games that the market plays before the prospect of an intervention and afterwards. The charts around and especially after confirmed interventions have many of these.
Hello Bro

What Pairs do you trade beside UJ pairs


Thanks
If there was easy money lying around,no one would be forcing it into your
  • #29,176
  • Nov 17, 2011 9:48am Nov 17, 2011 9:48am
Quoting Beljevina
... just do be very very cautious and aware that there can be false (speculative, bid reaching) spikes that can last a few seconds, meaning, on a buy stop you have placed there, you can get a terrible fill, and then a terrible exit, meaning a possible loss - these are part of the games that the market plays before the prospect of an intervention and afterwards. The charts around and especially after confirmed interventions have many of these.
I think i should be okay since I have set up a tight stop loss and i didn't take an over leveraged position.
If I'm not mistaken there's been a spike like this yesterday on GBPJPY for around 30 pips, that's why I've chosen to set up my buy stop at around 75 pips (hopefully I could escape from those fake interventions)
Thanks anyway for your warning, really appreciate.
Gamma
  • #29,177
  • Nov 17, 2011 10:25pm Nov 17, 2011 10:25pm
Shorted this pair @ 76.95 SL 20 pips TP 76.20.

Setup base on triangle breakout.
trade safe
  • #29,178
  • Nov 17, 2011 11:01pm Nov 17, 2011 11:01pm
Quoting zz_zhang
Shorted this pair @ 76.95 SL 20 pips TP 76.20.

Setup base on triangle breakout.
Asia Breakout?
If there was easy money lying around,no one would be forcing it into your
  • #29,179
  • Nov 18, 2011 12:06am Nov 18, 2011 12:06am
Quoting FXMindset
Asia Breakout?
Base on Charting, Couldn't post a chart now.
trade safe
  • #29,180
  • Nov 18, 2011 1:59am Nov 18, 2011 1:59am
nearing 76.30 again

UJ D1:
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Don't be a hero. Don't have an ego. Always question yourself
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