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USD/JPY Discussion

  • #31,221
  • Aug 12, 2012 2:24pm Aug 12, 2012 2:24pm
Quoting price trader
Very nice movements in range 77.92 - 78.80 .. up and down around 10 times .. My strategy is to buy dips and sell highs .. im mainly short at this pair until levels 76.5, if we will touch it i will start with bigger buying, because i think that around 75.50 - 75.80 could BOJ intervene like several times before.
This range ain't gonna last much longer. Don't think it's going to 76.50 either, but it definitely ain't gonna be bouncing around in a tight range like that long enough to make a strategy out of it.
  • #31,222
  • Aug 12, 2012 5:40pm Aug 12, 2012 5:40pm
It actually went up to 78 over the weekends for some reason.
  • #31,223
  • Aug 13, 2012 10:03pm Aug 13, 2012 10:03pm
Possibly back testing this important trendline.
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  • #31,224
  • Aug 14, 2012 1:21pm Aug 14, 2012 1:21pm
closing above 78.80 might end consolidation and open targets towards 80.60 and later towards 84.20 imo

UJ M15:
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Don't be a hero. Don't have an ego. Always question yourself
  • #31,225
  • Aug 14, 2012 4:46pm Aug 14, 2012 4:46pm
Yeah, Bear, we're basically at a major low right now with a lot of already tested areas above which should mean not much resistance. I'm seeing previously tested areas all the way to 110.00!!
  • #31,226
  • Aug 15, 2012 4:36am Aug 15, 2012 4:36am
now it seems that USD/JPY is testing the 79.00/79.10 resistance. I am wondering if I should hold my short position. From the 4h chart I see a up channel. However it is time for a retracement. any suggestions??
  • #31,227
  • Aug 15, 2012 5:39am Aug 15, 2012 5:39am
Quoting KickAss
now it seems that USD/JPY is testing the 79.00/79.10 resistance. I am wondering if I should hold my short position. From the 4h chart I see a up channel. However it is time for a retracement. any suggestions??

While anything can happen, there are reported large buy stops above 79.2. A break there could mean an impulsive upmove. This thing can move a long way without retracement (look at the move 76~84 a few months ago without any significant retrace).
  • #31,228
  • Edited 6:23am Aug 15, 2012 6:01am | Edited 6:23am
http://www.forexfactory.com/showthre...34#post5930234

I made my opinion about that in G/J thread, bulish signs on h4 are really strong now.
  • #31,229
  • Aug 15, 2012 6:21am Aug 15, 2012 6:21am
Quoting Haqu
http://www.forexfactory.com/showthre...34#post5930234

I made my opinion about that in G/J thread, bulish signs on h4 are realy stron now.

I agree re GJ. It's moved above and holding above the daily 50ema and 50 sma. I expect 124 to break, with next major resistance up at 125.6~7 .
  • #31,230
  • Aug 15, 2012 7:57am Aug 15, 2012 7:57am
UJ is getting its ass dropped hard ....
  • #31,231
  • Aug 15, 2012 8:01am Aug 15, 2012 8:01am
here the retracement comes.......
  • #31,232
  • Aug 15, 2012 8:04am Aug 15, 2012 8:04am
Buy some moar!!!
All posts are my personal opinion
  • #31,233
  • Aug 15, 2012 8:19am Aug 15, 2012 8:19am
E/Y and U/J
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  • #31,234
  • Aug 15, 2012 8:53am Aug 15, 2012 8:53am
it is still not clear whether the "major support/resistance" 78.70 is break or not.

Quoting turny
Well this is disappointing.

I was expecting after the fake drop and the final break of that support and resistance level that it would hold now as support and the sky would be the limit. I wanted to see alot more strength here, not this.

Can't trust anything in this game.
  • #31,235
  • Aug 15, 2012 9:58am Aug 15, 2012 9:58am
Quoting Rtm
Buy some moar!!!
Yeah, you weren't kidding ...
  • #31,236
  • Aug 15, 2012 10:17am Aug 15, 2012 10:17am
The drop was hard, but still bulls are in favor, they defended 78.80 for now, even though the data was bad. I think that shows their strenght.
  • #31,237
  • Aug 15, 2012 11:01am Aug 15, 2012 11:01am
closing the day above 78.80 would give bulls some air imo
Don't be a hero. Don't have an ego. Always question yourself
  • #31,238
  • Aug 15, 2012 11:21am Aug 15, 2012 11:21am
Quoting USD-Bear
closing the day above 78.80 would give bulls some air imo
Agree, the drop made some space for new buyers and thos who thought that the cross was overbought for the moment, now closing over 78.80 would be a sign for them that the price still can go up.

Not to mention closing above 79.00
  • #31,239
  • Aug 15, 2012 5:19pm Aug 15, 2012 5:19pm
Quoting CNTrader
Attention starting to be turned to buying this pair.
Target 2 almost attained here. US yields continue to gring towards 2.0% with a break of 1.8 today. Usd/Jpy will continue to follow those yields. After target 2 hits I have 79.29 then 79.68 with both areas providing some potential resistence. Target 3 is 79.64 then next target 80.07. Stops are at break even
Don't follow me! You can and most likely will LOSE all your money!!!!
  • #31,240
  • Aug 15, 2012 6:16pm Aug 15, 2012 6:16pm
As i said earlier, still in bullish mood, the drop from bad data couldn't stop the price for longer, what is more, as we can see from 1 h chart, the volumen on the drop was lower than in the first 1h bar after it, which moved the price up - that mean bulls are much stronger and ready to move the price further up.

Some charts with broken supports(blue major downtrend line, 200 ema on 4h and 38.2 fibo ret lvl from 80.60) and future resistances
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: Wykres USD_JPY 4H Snapshot.jpg Size: 239 KB
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