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USD/JPY Discussion

  • #31,121
  • Jul 11, 2012 10:50am Jul 11, 2012 10:50am
You guys see what happened here?

Stops were taken from the previous low at 79.12. Price reversed there to take stops at 79.74. Now there should be minimal stops to take until 78.77. There might be a bounce there, but the 78.60 low is more likely to see some type of bounce. I see that possible bounce being short-lived, because I don't see the 77.65 low holding either. It was a weak low in that no big stops were taken at that spot and there were not a lot of fakes prior to that low.
  • #31,122
  • Jul 11, 2012 10:54am Jul 11, 2012 10:54am
Quoting heraclitus
green pips for you today 1tip works for me (usually) on usd/jpy scalping, a second of eur/jpy going up or down and another second confirm the same direction on eur/usd open a same direction order on usd/jpy! but never in a day like today, when BOJ awake

Thanks, but I'm definitely not out of the woods yet, by any means.

Good luck with your scapling my friend.
  • #31,123
  • Jul 11, 2012 11:15pm Jul 11, 2012 11:15pm
I'm surprised no one is commenting. This pair's dancing like nobody's watching.
  • #31,124
  • Jul 11, 2012 11:18pm Jul 11, 2012 11:18pm
Quoting 2+2=4ex
I'm surprised no one is commenting. This pair's dancing like nobody's watching.

eh haha, yeah.....up and down, it's about right....we'll see, but it's still within the range....long/short whatever haha.
  • #31,125
  • Jul 11, 2012 11:26pm Jul 11, 2012 11:26pm
Quoting 2+2=4ex
I'm surprised no one is commenting. This pair's dancing like nobody's watching.
like this...

http://data.whicdn.com/images/172025...-gif_large.gif
  • #31,126
  • Jul 12, 2012 1:25am Jul 12, 2012 1:25am
i jus had a short on this pair at 79.48 target 20 pips


http://spartan-trader.blogspot.in
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  • #31,127
  • Jul 12, 2012 2:03am Jul 12, 2012 2:03am
But i short on 79.80, wus u targeting to the down side
Quoting kumarr81
i jus had a short on this pair at 79.48 target 20 pips


http://spartan-trader.blogspot.in
"Sensible Trader"
  • #31,128
  • Jul 12, 2012 2:19am Jul 12, 2012 2:19am
i moved my target further down to 50 pips..


http://spartan-trader.blogspot.in
  • #31,129
  • Jul 12, 2012 6:40am Jul 12, 2012 6:40am
Short the USDJPY this morning as we witnessed a little whip back down to the low levels once again on the hourly chart. Lets see if we now can breach 79.10/79
All posts are my personal opinion
  • #31,130
  • Jul 12, 2012 7:29am Jul 12, 2012 7:29am
I was expecting some action from BOJ overnight. I heard they were going to announce some extra measures.
  • #31,131
  • Jul 12, 2012 8:54am Jul 12, 2012 8:54am
Quoting BennyB
I was expecting some action from BOJ overnight. I heard they were going to announce some extra measures.
I doubt that you'll get much more than talk from BOJ......they can't do anything much about the strong Yen while Europe is in such a mess hu hu hu
Doing what you like is Freedom. Liking what you do is Happiness.
  • #31,132
  • Jul 12, 2012 9:20am Jul 12, 2012 9:20am
we are nearly at same price level as last year, also the pattern of broken weekly trend line looks quite similar

last year from here it went down to 76.6
  • #31,133
  • Jul 12, 2012 10:26am Jul 12, 2012 10:26am
No action on this pair. No point in trading it.
  • #31,134
  • Jul 12, 2012 10:46am Jul 12, 2012 10:46am
Quoting big_pipin
No action on this pair. No point in trading it.
where's the action?
  • #31,135
  • Jul 12, 2012 1:14pm Jul 12, 2012 1:14pm
Quoting Mr.Kruger
where's the action?

Ah Mr Kruger! You want action? hire a prostitute, this is the USDJPY forum, we like watching paint dry! (Until the BOJ decides to level the house with a wrecking ball)
  • #31,136
  • Jul 12, 2012 1:15pm Jul 12, 2012 1:15pm
Quoting torkay77
we are nearly at same price level as last year, also the pattern of broken weekly trend line looks quite similar

last year from here it went down to 76.6

Good point........this is actually pretty useful information, some of the most useful I've seen recently, much better than a random call for a level and a chart.
  • #31,137
  • Jul 12, 2012 1:20pm Jul 12, 2012 1:20pm
Quoting lolygagv2
Ah Mr Kruger! You want action? hire a prostitute, this is the USDJPY forum, we like watching paint dry! (Until the BOJ decides to level the house with a wrecking ball)
  • #31,138
  • Edited 9:32pm Jul 12, 2012 8:55pm | Edited 9:32pm
Quoting torkay77
we are nearly at same price level as last year, also the pattern of broken weekly trend line looks quite similar

last year from here it went down to 76.6
What you say is true. However, the levels 79.1 and 78.6 need to break to confirm downtrend continuation as, effectively, a wave D continuation. If that were the case, bottom channel support now sits at about 74.

79.1 has now held twice. Failure to break would support the argument that the move down to 77.5 (76.4 retracement of the whole move 84.1~75.5) was a wave 4 and it's getting ready to go up in wave 5 to at least double top, or further up to the 85 area.

So, for the time being, UJ sits in no-mans land until it confirms a direction. I agree with lolygagv2 about the recent trade calls on here. First it's up, then it's down. Oh, wait, it's going up again.

Kinda like a Yen version of the Euro thread.
  • #31,139
  • Jul 12, 2012 9:27pm Jul 12, 2012 9:27pm
Quoting Mpt
What you say is true. However, the levels 79.1 and 78.6 need to break to confirm downtrend continuation as, effectively, a wave D continuation. If that were the case, bottom channel support now sits at about 74.

79.1 has now held twice. Failure to break would support the argument that the move down to 77.5 (76.4 retracement of the whole move 84.1~75.5) was a wave 4 and it's getting ready to go up in wave 5 to at least double top, or further up to the 85 area.

I'm still waiting for the world to wake-up to the fact Tokyo has radioactive contamination and should be evacuated......wonder when/if that'll happen. Things can only be swept under the rug so long.
  • #31,140
  • Jul 12, 2012 9:37pm Jul 12, 2012 9:37pm
Quoting lolygagv2
I'm still waiting for the world to wake-up to the fact Tokyo has radioactive contamination and should be evacuated......wonder when/if that'll happen. Things can only be swept under the rug so long.

The whole euro crisis/dog's breakfast thing will weigh on UJ until something significant occurs to devalue the Yen.
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