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USD/JPY Discussion

  • #32,221
  • Dec 3, 2012 6:14am Dec 3, 2012 6:14am
is anyone getting long at current levels? 82 is pretty strong support
Any prices quoted are futures
  • #32,222
  • Dec 3, 2012 6:18am Dec 3, 2012 6:18am
Quoting redteamgo
is anyone getting long at current levels? 82 is pretty strong support
I would rather wait price reach to 81.7X area to go long. Lets see
  • #32,223
  • Dec 3, 2012 6:31am Dec 3, 2012 6:31am
Quoting redteamgo
is anyone getting long at current levels? 82 is pretty strong support
I'm going to wait for lower or a break higher to me at the moment it seems a bit in no mans land
  • #32,224
  • Dec 3, 2012 6:33am Dec 3, 2012 6:33am
Quoting robertrfx
I would rather wait price reach to 81.7X area to go long. Lets see
Thats the area i will start going long
  • #32,225
  • Dec 3, 2012 6:53am Dec 3, 2012 6:53am
Quoting robertrfx
I would rather wait price reach to 81.7X area to go long. Lets see
I have 5 trades left all of them opened at different levels of $82, the lowest is $82.001 and the highest is $82.743 , but just one of them is a bit higher volume.
  • #32,226
  • Dec 3, 2012 7:05am Dec 3, 2012 7:05am
Quoting redteamgo
is anyone getting long at current levels? 82 is pretty strong support
not taking that long was a mistake.
Any prices quoted are futures
  • #32,227
  • Dec 3, 2012 7:13am Dec 3, 2012 7:13am
Quoting redteamgo
not taking that long was a mistake.
if your a scalper then yes maybe it was a mistake.

if your longer term you could still get in now if you wanted to.
  • #32,228
  • Dec 3, 2012 7:16am Dec 3, 2012 7:16am
Quoting brinks
if your a scalper then yes maybe it was a mistake.

if your longer term you could still get in now if you wanted to.

If the candles break the Kumo at $82.30, I think we can swing again to $82.70 :>
  • #32,229
  • Dec 3, 2012 7:17am Dec 3, 2012 7:17am
Quoting brinks
if your a scalper then yes maybe it was a mistake.

if your longer term you could still get in now if you wanted to.
35 ticks is a scalp? $438
Any prices quoted are futures
  • #32,230
  • Dec 3, 2012 7:20am Dec 3, 2012 7:20am
Quoting redteamgo
35 ticks is a scalp? $438
from 82 its only been 25 pips.

what i was trying to get at is its only moved away from 82 a bit if you still wanted to get in then its no big deal
  • #32,231
  • Dec 3, 2012 7:23am Dec 3, 2012 7:23am
Quoting brinks
from 82 its only been 25 pips.

what i was trying to get at is its only moved away from 82 a bit if you still wanted to get in then its no big deal
gotcha, fair enough!

usd/jpy futures has moved a combined 37 since asia's highs.
Any prices quoted are futures
  • #32,232
  • Dec 3, 2012 11:55pm Dec 3, 2012 11:55pm
No real headway made on the fiscal cliff the Abe effect is losing steam could be a deeper pullback coming especially with the market so short yen.



http://www.japantoday.com/category/p...tion-confusion
  • #32,233
  • Dec 4, 2012 12:34am Dec 4, 2012 12:34am
Quoting brinks
No real headway made on the fiscal cliff the Abe effect is losing steam could be a deeper pullback coming especially with the market so short yen.



http://www.japantoday.com/category/p...tion-confusion
Hmm smoke and mirror if you ask me , the only thing that I'm watching until the elections is if BOJ makes an intervention, the fiscal cliff problem in US and also if the bears break the $81.85 point, a major resistance if you ask me !
  • #32,234
  • Dec 4, 2012 12:38am Dec 4, 2012 12:38am
Quoting MisterSpread
Hmm smoke and mirror if you ask me , the only thing that I'm watching until the elections is if BOJ makes an intervention, the fiscal cliff problem in US and also if the bears break the $81.85 point, a major resistance if you ask me !
I'm still looking to add long at 81.70 as I'm long from 82.00 but am aware there could be a bigger pullback if there is I will keep adding on the way down.80.00 will be a main area for me if it gets down there again.

When you say BOJ intervention I take it you mean more QE ? Not direct intervention in the market.
  • #32,235
  • Dec 4, 2012 12:41am Dec 4, 2012 12:41am
Quoting brinks
I'm still looking to add long at 81.70 as I'm long from 82.00 but am aware there could be a bigger pullback if there is I will keep adding on the way down.

When you say BOJ intervention I take it you mean more QE ? Not direct intervention in the market.
Yes, yes more QE and in my opinion is going to be after election, remember what I said regarding Abe? If he wins he will take all the glory for pushing hard to inflation and the "big pressure" that he will put on BOJ for more aggressive tactics in reaching that goal.
  • #32,236
  • Dec 4, 2012 12:45am Dec 4, 2012 12:45am
Quoting MisterSpread
Yes, yes more QE and in my opinion is going to be after election, remember what I said regarding Abe? If he wins he will take all the glory for pushing hard to inflation and the "big pressure" that he will put on BOJ for more aggressive tactics in reaching that goal.

But he is already softening his stance on that as I said it could be a buy the rumour sell the fact if he does get elected.

Anyway interesting times I guess what is happening now shouldn't change my longer term bullish view for dollar yen.


Also a chance that the fed will ease with even more QE and we know the bank of japan cannot weaken the jpy like the fed can weaken the dollar.
  • #32,237
  • Dec 4, 2012 12:52am Dec 4, 2012 12:52am
Quoting brinks
But he is already softening his stance on that as I said it could be a buy the rumour sell the fact if he does get elected.

Anyway interesting times I guess what is happening now shouldn't change my longer term bullish view for dollar yen.
I don't believe it , I just don't believe in this pullback and even if is a pullback it will mean more good openings for me because my margin level is at %900 so I have enough to open 3-4 more positions in cascade : $81.85, $80.25 , $79.70 , $78.15
  • #32,238
  • Dec 4, 2012 12:53am Dec 4, 2012 12:53am
Quoting MisterSpread
I don't believe it , I just don't believe in this pullback and even if is a pullback it will mean more good openings for me because my margin level is at %900 so I have enough to open 3-4 more positions in cascade : $81.85, $80.25 , $79.70 , $78.15
Yes agree buying on dips is the way for me
  • #32,239
  • Dec 4, 2012 1:19am Dec 4, 2012 1:19am
Quoting MisterSpread
I don't believe it , I just don't believe in this pullback and even if is a pullback it will mean more good openings for me because my margin level is at %900 so I have enough to open 3-4 more positions in cascade : $81.85, $80.25 , $79.70 , $78.15
I'm bullish as well at least till the elections at which point I'll see how the PA reacts then then I'll make a decision from there as what to do with my positions. I grabbed some at 82.00 have another order at 81.85 as well but I don't really see much more below that. With the fiscal cliff still looming I can't really see to big of a pull back. Liquidity seems very light & that generally keeps the markets up. I would guess its going to be a very bumpy road on the way up with jerky reactions every time fresh news hits the wire.
It works till it doesn't
  • #32,240
  • Dec 4, 2012 1:39am Dec 4, 2012 1:39am
Quoting DaEdge
I'm bullish as well at least till the elections at which point I'll see how the PA reacts then then I'll make a decision from there as what to do with my positions. I grabbed some at 82.00 have another order at 81.85 as well but I don't really see much more below that. With the fiscal cliff still looming I can't really see to big of a pull back. Liquidity seems very light & that generally keeps the markets up. I would guess its going to be a very bumpy road on the way up with jerky reactions every time fresh news hits the wire.

I know that is going to be bumpy, it has to be, because otherwise all the n0bs will stay in the same boat with the ones who know how to handle the longs and in trading also someone has to lose in order for others to win.
I just noticed that what is happening now is an accumulation like the one from 27th Nov to 29th when it started the upswing from $81.70 to $82.75, if my chart is correct in a few days we should see the USDJPY from that bottom at $81.95 to a new high for this period of $82.85 at least .

Correct me if I'm wrong but I'm looking at Ichimoku and if the candles break the Kumo at $82.35, we will have enough power for a bigger swing up !
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