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USD/JPY Discussion

  • #30,661
  • Mar 14, 2012 7:09pm Mar 14, 2012 7:09pm
Quoting neptun84
Could anyone post a chart with fib retracements from the lowest point 75.555 to 85.50? I recall seeing a chart, where 83.90 was 61.8 %

The lowest point so far was 75.35. It was before retail brokers opened. It won't show on your chart.
  • #30,662
  • Mar 14, 2012 7:22pm Mar 14, 2012 7:22pm
61.8% that's impossible

the more significant number is 87.0 anyway.. that's the 23.6% fib from monthly chart
  • #30,663
  • Mar 14, 2012 7:25pm Mar 14, 2012 7:25pm
Quoting Mpt
The lowest point so far was 75.35. It was before retail brokers opened. It won't show on your chart.
That's obviously not what he's talking about, highest ever was 160 anyway, but one doesn't need a chart to figure out that 83.90 cannot be 61.8% of 81.5-75.555.
It's around 81.69.
Don't get mad, get even!
  • #30,664
  • Mar 14, 2012 7:31pm Mar 14, 2012 7:31pm
85.5 to 75.5 I meant. On a smaller scale, not all the time high-low.
  • #30,665
  • Mar 14, 2012 7:39pm Mar 14, 2012 7:39pm
It hit 84 now I am expecting a pull back and will look for areas to go long again
  • #30,666
  • Mar 14, 2012 8:19pm Mar 14, 2012 8:19pm
i don't trade this pair , pair move effecting other pairs , where you guys expecting sellers back on this pair ?
Mohan
  • #30,667
  • Mar 14, 2012 8:25pm Mar 14, 2012 8:25pm
Quoting Mr.Kruger
right about now
hahahahah keep shorting

In all honesty there will be a spike before a big downturn so this may be it, but who knows...
  • #30,668
  • Mar 14, 2012 8:27pm Mar 14, 2012 8:27pm
Quoting sidhujag
hahahahah keep shorting
Sorry, I was not really clear in my post...

What i meant with "now" was that it will retrace a bit, however, the upward trend will most probably continue throughout the week on the back of strong US data
  • #30,669
  • Mar 14, 2012 8:29pm Mar 14, 2012 8:29pm
Quoting sidhujag
hahahahah keep shorting

In all honesty there will be a spike before a big downturn so this may be it, but who knows...
where you expect sellers @ 85.00 ~ 85.50 ?


euro + yen = +70% weighted on usd index
Mohan
  • #30,670
  • Mar 14, 2012 8:34pm Mar 14, 2012 8:34pm
Quoting mohan76
where you expect sellers @ 85.00 ~ 85.50 ?


euro + yen = 70+ % weighted on usd index


I'm looking at entire market USD + JPY remember USD UP + SPY UP is risk on, so that means JPY must be down in order for FOREX market to trend up with S&P. Right now there is a big divergence, so either forex has to catch up or SPY has to fall... the selling of JPY may be a hint of what's coming.

I don't expect to sell this pair for the next while as my yearly goal is around 115. I would rather short something else other than USD, but I'm sure you can catch a retrace up there somewhere... just watch for weak candles around NY open
  • #30,671
  • Mar 14, 2012 8:40pm Mar 14, 2012 8:40pm
Took profit at 84.00 from 79.00. Thou technically this pair like want to go higher.. Risk also getting higher. Remember japan gov can intervene any time
  • #30,672
  • Mar 14, 2012 8:50pm Mar 14, 2012 8:50pm
Quoting sidhujag
I'm looking at entire market USD + JPY remember USD UP + SPY UP is risk on, so that means JPY must be down in order for FOREX market to trend up with S&P. Right now there is a big divergence, so either forex has to catch up or SPY has to fall... the selling of JPY may be a hint of what's coming.

I don't expect to sell this pair for the next while as my yearly goal is around 115. I would rather short something else other than USD, but I'm sure you can catch a retrace up there somewhere... just watch for weak candles around NY open
Could it be that the funds behind the SP 500 rally are japanese traders selling the yen to buy USD to invest them in the US stock mkt ?
  • #30,673
  • Mar 14, 2012 9:24pm Mar 14, 2012 9:24pm
Entry @ low 76

Took profit @ 84.100

Short @ 84.170

Profit and re-entry (long) @ 84.000

Perhaps i should have waited a bit more before taking profit on my short position and going long again, however, tomorrow is a big day and i need some sleep...
  • #30,674
  • Mar 14, 2012 9:28pm Mar 14, 2012 9:28pm
Quoting AbgZuhaini
Took profit at 84.00 from 79.00. Thou technically this pair like want to go higher.. Risk also getting higher. Remember japan gov can intervene any time

I agree, I also took my profit at 84 It just seemed a little to risky after 84
  • #30,675
  • Mar 14, 2012 9:37pm Mar 14, 2012 9:37pm
Quoting Mr.Kruger
Entry @ low 76

Took profit @ 84.100

Short @ 84.170

Profit and re-entry (long) @ 84.000

Perhaps i should have waited a bit more before taking profit on my short position and going long again, however, tomorrow is a big day and i need some sleep...

Would it not be a little wiser to see what happens back down at the 83.9 trendline before placing any trades, particularly a long? This pair will either consolidate above the TL, or drop through it.
  • #30,676
  • Mar 14, 2012 9:42pm Mar 14, 2012 9:42pm
Quoting Mpt
Would it not be a little wiser to see what happens back down at the 83.9 trendline before placing any trades, particularly a long? This pair will either consolidate above the TL, or drop through it.
You are right, I agree, the only problem is that it is quite late in the night here and I have to get up early in the morning... Don't really want to sit up much more...
  • #30,677
  • Mar 14, 2012 9:52pm Mar 14, 2012 9:52pm
Quoting hornsant
Could it be that the funds behind the SP 500 rally are japanese traders selling the yen to buy USD to invest them in the US stock mkt ?
jap exporters toyota etc selling jpy to buy usd and prob us equities. Other central banks passed laws with us to allow direct equity purchased in ny. Look at aapl and other large caps free money cause its printed can u say biggest bubble in history?
  • #30,678
  • Mar 14, 2012 9:54pm Mar 14, 2012 9:54pm
Quoting AbgZuhaini
Took profit at 84.00 from 79.00. Thou technically this pair like want to go higher.. Risk also getting higher. Remember japan gov can intervene any time
umm boj doesnt want to intervene to strenghthen yen hello wakup
  • #30,679
  • Mar 14, 2012 11:16pm Mar 14, 2012 11:16pm
Quoting sidhujag
umm boj doesnt want to intervene to strenghthen yen hello wakup
this printing of money will strengthen the yen in longer term. there is no way usd/jpy can go to 90. ben will come in at some time and do QE3
  • #30,680
  • Mar 14, 2012 11:21pm Mar 14, 2012 11:21pm
here!
Bought at 83.67
Sold at 83.91
Profit 24 pips
very nice, good price..!
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