Attachments: USD/JPY Discussion

USD/JPY Discussion

#31,881
Oct 30, 2012 6:37am Oct 30, 2012 6:37am

Mpt
Joined Nov 2009 | Status: Trader | 2,582 Posts

Quoting crustonSt

Disliked

a year ago!!! Need to check the news last year then.
This trading is really an intellectual challenge.

Ignored

Monday 31 October 2011 at around 1100 hrs Japan time. A long time between drinks.

#31,882
Oct 30, 2012 6:42am Oct 30, 2012 6:42am

crustonSt
| Additional Username | Joined Oct 2012 | 84 Posts

Quoting Mpt

Disliked

Monday 31 October 2011 at around 1100 hrs Japan time. A long time between drinks.

Ignored

OK.

#31,883
Oct 30, 2012 6:43am Oct 30, 2012 6:43am

Haqu
| Joined Jun 2011 | Status: Trader | 300 Posts

Quoting Mpt

Disliked

BOJ spent loads of money performing interventions when price went below/stayed below certain thresholds. Don't forget that the Yen is a floating currency. That means that the market will take it where it wants to to go. When USDJPY et al have reaches their market bottom, they will move back up. Vigorously. Until then, I would view the occasional intervention as a "plus"".

When was the last obvious full scale intervention?????????

A year ago tomorrow!!!

Ignored

Yep, the only thing in favor of intervention is that one year have passed since last one, and it is the day of end of financial year i Japan- they do it to bust financial raports of the companies. The fact that their next easing was AGAIN ignored by market may encourage them do act.

Anyway U/J seems to have found support at 79.40 level, would suspect short consolidation here. We are at 38.2 febo ret lvl and still above last major bearish trend line, i would could it as wave 4 and wait for 5 to take 80.60. Otherwise, 79.15-20 and 78.80 are major support opening way to 78 and lower.

#31,884
Oct 30, 2012 6:44am Oct 30, 2012 6:44am

Haqu
| Joined Jun 2011 | Status: Trader | 300 Posts

And forgot chart as always

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#31,885
Oct 30, 2012 6:45am Oct 30, 2012 6:45am

brinks
| Joined Oct 2011 | Status: Trader | 1,247 Posts

I don't think there will be intervention this time I would think most of the year end stuff was done when it was above 80 the other day.

#31,886
Oct 30, 2012 6:49am Oct 30, 2012 6:49am

Stimulus
| Joined Feb 2010 | Status: QE, Welfare for Wall Street | 911 Posts

Good Morning,

I still have power from Sandy, so i decided to post my correction levels. Constructive comments welcome.

"My 2 cents"

#31,887
Oct 30, 2012 6:50am Oct 30, 2012 6:50am

Stimulus
| Joined Feb 2010 | Status: QE, Welfare for Wall Street | 911 Posts

Quoting Stimulus

Disliked

Good Morning,

I still have power from Sandy, so i decided to post my correction levels. Constructive comments welcome.

Ignored

Still need coffee

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"My 2 cents"

#31,888
Oct 30, 2012 6:51am Oct 30, 2012 6:51am

crustonSt
| Additional Username | Joined Oct 2012 | 84 Posts

Quoting Haqu

Disliked

And forgot chart as always

Ignored

I modified your chart slightly. When it comes to making

, any viewpoint is welcomed...

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#31,889
Oct 30, 2012 10:50am Oct 30, 2012 10:50am

falcon232
| Joined Jul 2006 | Status: Trader | 260 Posts

Today's move down bounced off the 38.2 Fib from the move of 77.42-80.32. Still very bullish

#31,890
Oct 30, 2012 11:23am Oct 30, 2012 11:23am

sidhujag
Joined Apr 2009 | Status: Non-Member | 4,719 Posts

looks like that spike down could be a bottom as it got bought up looked like capitulation. Ok the jpy pairs it usually means end of trend

#31,891
Oct 31, 2012 2:47am Oct 31, 2012 2:47am

Haqu
| Joined Jun 2011 | Status: Trader | 300 Posts

Seems like yesterday drop was stoped by 38.2 fibo ret level and also daily candle hardly passed 200 sma. In general still in consolidation phase, however with bulish sign, need to break 80.60 for some action.

Btw seems no intervention this year :>

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#31,892
Oct 31, 2012 4:54am Oct 31, 2012 4:54am

Goldflake
Joined Apr 2012 | Status: Trader | 1,054 Posts

Longed earlier @ 79.60 with target around 80.00

When Scalpers win, I lose and Vice varsa...

#31,893
Oct 31, 2012 5:15am Oct 31, 2012 5:15am

Haqu
| Joined Jun 2011 | Status: Trader | 300 Posts

On 1h we are again over 200 sma, look at nice volumen while breaking the sma line.

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#31,894
Oct 31, 2012 8:25am Oct 31, 2012 8:25am

Haqu
| Joined Jun 2011 | Status: Trader | 300 Posts

And to complete set: 4h, waiting for 80.00 test

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#31,895
Nov 1, 2012 5:14am Nov 1, 2012 5:14am

Haqu
| Joined Jun 2011 | Status: Trader | 300 Posts

Cleared the chart to show this: We are aproching major resistance, closed all my reloaded long from 79.38 at 80.08, will wait for break/bounce off the trend line.

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#31,896
Nov 1, 2012 9:22pm Nov 1, 2012 9:22pm

Orly
| Joined Nov 2012 | Status: Trader | 415 Posts

It looks like the USDJPY is getting very over-extended here. How high can it go?

#31,897
Edited 7:45am Nov 2, 2012 5:55am | Edited 7:45am

Haqu
| Joined Jun 2011 | Status: Trader | 300 Posts

Quoting Orly

Disliked

It looks like the USDJPY is getting very over-extended here. How high can it go?

Ignored

For now a very strong resistance will be between 80.30 and 80.60, so this can be a limit for some time!

Seems like Non-Farm helped U/J and we are at 80.60. Here is also the trend major bearish trend line, breaking it at daily and weekly would be a final bullish sign!

#31,898
Nov 2, 2012 9:53am Nov 2, 2012 9:53am