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AUD/JPY, CAD/JPY, CHF/JPY, EUR/JPY, GBP/JPY, NZD/JPY, USD/JPY

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JPY Cross Pairs

  • #21
  • Jan 28, 2013 12:14pm Jan 28, 2013 12:14pm
Quoting DaEdge
100 pips a day awesome thread good sir. I will definitely be contributing a lot here.
DaEdge,

Good to see you here. I personally enjoy trading JPY cross pairs more than any other pair (except for EUR/AUD ). Also, with everything going on in Japan at this time I see a lot of action with JPY pairs this year!

Looking forward to your contributions.
  • #22
  • Jan 28, 2013 12:23pm Jan 28, 2013 12:23pm
My Murray Math system is always right and it says to sell JPY pairs with both hands for the medium term (6 months to a year minimum)... the higher it goes the better holding position... use good money management and sell for a 100 pips take half off and enjoy
  • #23
  • Jan 28, 2013 2:10pm Jan 28, 2013 2:10pm
Quoting 100PipsADay
DaEdge,

Good to see you here. I personally enjoy trading JPY cross pairs more than any other pair (except for EUR/AUD ). Also, with everything going on in Japan at this time I see a lot of action with JPY pairs this year!

Looking forward to your contributions.
Same here I love volatility. Should be an exciting year.
It works till it doesn't
  • #24
  • Jan 28, 2013 2:18pm Jan 28, 2013 2:18pm
Get ready for good news. The JY is about to do a MAJOR turnaround. The week of february 10 (new moon) should be the low for the yen. The COT commercials are screaming BUY BUY BUY SOON. Be sure to favor a rising yen in all your cross pairs come the week of feb 10-16.

MONTHLY JY FUTURES CHART with COT traders net positions. Commercials at multi year NET LONG.
Attached Image (click to enlarge)
Click to Enlarge Name: A MTHLY JY.JPG Size: 94 KB
  • #25
  • Jan 28, 2013 2:39pm Jan 28, 2013 2:39pm
WEEKLY JY COT (Commitment Of Traders)
Attached Image (click to enlarge)
Click to Enlarge Name: A JY WKLY.JPG Size: 87 KB
  • #26
  • Jan 28, 2013 2:47pm Jan 28, 2013 2:47pm
When everybody and their uncle start breaking the doors down to BAIL OUT, I'll be smiling all the way to the bank. MASSIVE short covering rally imminent !!!
  • #27
  • Jan 28, 2013 2:58pm Jan 28, 2013 2:58pm
Quoting chiknthief
When everybody and their uncle start breaking the doors down to BAIL OUT, I'll be smiling all the way to the bank. MASSIVE short covering rally imminent !!!
I also agree that a short covering rally for the Yen is very near. A much needed correction is overdue for JPY pairs which is why I am short AUD/JPY, NZD/JPY, and CAD/JPY at this time.

Price has been stalling for the past 16 trading days for most JPY cross pairs. Might be a good idea for us to start drawing up some possible areas of support on the weekly charts for the JPY cross pairs.


PipTrapper mentioned that many guest economists on CNBC and Bloomberg have suggested closing your eyes and pressing the buy button on any currency vs the Yen. As such, a house of cards is being built, so it's only a matter of time before a nice breeze comes along and blows the whole thing over to cause a very significant corrective pullback on the JPY pairs.
  • #28
  • Jan 28, 2013 3:08pm Jan 28, 2013 3:08pm
Quoting 100PipsADay
I also agree that a short covering rally for the Yen is very near. A much needed correction is overdue for JPY pairs which is why I am short AUD/JPY, NZD/JPY, and CAD/JPY at this time.

Price has been stalling for the past 16 trading days for most JPY cross pairs. Might be a good idea for us to start drawing up some possible areas of support on the weekly charts for the JPY cross pairs.

Many guest economists on CNBC and Bloomberg have suggested closing your eyes and pressing the buy button on any currency vs the Yen. As such, a house...

I agree wholeheartedly.
  • #29
  • Jan 28, 2013 3:36pm Jan 28, 2013 3:36pm
Quoting 100PipsADay
I also agree that a short covering rally for the Yen is very near. A much needed correction is overdue for JPY pairs which is why I am short AUD/JPY, NZD/JPY, and CAD/JPY at this time.

Price has been stalling for the past 16 trading days for most JPY cross pairs. Might be a good idea for us to start drawing up some possible areas of support on the weekly charts for the JPY cross pairs.


PipTrapper mentioned that [i]many guest economists on CNBC and Bloomberg have suggested closing your eyes and pressing the buy button on any...
With volatility being where it is on these pairs hedging at highs & lows is the play IMO. I expect more selling over the next couple of days but I see it more as profit taking & repositioning in front of NFP later this week. I plan to add in more size to my g/j short tonight & let it ride till around Thursday when ill close it out & hopefully i can get a good fill around the 118.00/50 area for some nice on my size on my e/j long going into NFP.
It works till it doesn't
  • #30
  • Jan 28, 2013 4:26pm Jan 28, 2013 4:26pm
Short term short play looking for pullback to 140.5 area.

Attached Image (click to enlarge)
Click to Enlarge Name: GJ M5 1-28.png Size: 27 KB
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #31
  • Edited 11:14pm Jan 28, 2013 7:18pm | Edited 11:14pm
EUR/JPY: 123.00 was strong weekly resistance back in April of 2011, could we expect a move down from here to 1st support @ 117.60? Below 117.6 is 115.2.

**I don't see price moving below 115.20 assuming it even goes that low in the coming weeks.

GBP/JPY: Price has been rejected from 145 for 3 weeks in a row. Could we be expecting a retrace down to next weekly support? I have 139.20 as next weekly support. Below that is 132.75.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURJPY - Weekly (1-28).jpg Size: 150 KB
Click to Enlarge Name: GBPJPY - Weekly (1-28).jpg Size: 152 KB
  • #32
  • Jan 28, 2013 11:18pm Jan 28, 2013 11:18pm
An interesting note about the two charts above (EUR/JPY & GBP/JPY) is that they both averaged almost exactly 400 pips per week for the past 5 weeks. Also, 1st weekly supports for both pairs are almost exactly 600 pips below current level.

E/J: 1st Support I have below current level is 117.60 or a retrace of about 600 pips.

G/J: 1st Support I have below current level is 139.29 or a retrace of about 600 pips.

Interesting how both have moved about the same amount of pips during the past 5 weeks and both have weekly supports of almost the exactly the same amount of pips away from current level. Still waiting for something to send them down...
  • #33
  • Jan 28, 2013 11:46pm Jan 28, 2013 11:46pm
100...just subscribed to both of your threads...they are by far the BEST threads in Forex Factory!!! Great posts, thanks for the information.

Thanks,

sjc
  • #34
  • Jan 28, 2013 11:54pm Jan 28, 2013 11:54pm
Quoting Coondawg71
100...just subscribed to both of your threads...they are by far the BEST threads in Forex Factory!!! Great posts, thanks for the information.

Thanks,

sjc
Thanks Coondawg! Feel free to post up your charts with analysis at anytime.
  • #35
  • Jan 29, 2013 12:07am Jan 29, 2013 12:07am
Nice charts man. Subscribed
FF journal: Peaks and Troffs
  • #36
  • Jan 29, 2013 12:18am Jan 29, 2013 12:18am
Quoting bogus
Nice charts man. Subscribed
Hey Bogus! Long time no chat buddy...

Hope all is well with you and yours.
  • #37
  • Jan 29, 2013 12:18am Jan 29, 2013 12:18am
NIce Chart

i assume now is time to sell for EJ according to your chart
You see, but you do not observe. The distinction is clear
  • #38
  • Jan 29, 2013 12:22am Jan 29, 2013 12:22am
Quoting budii
NIce Chart

i assume now is time to sell for EJ according to your chart
Price has been stalling on the daily time frame so I got short on a few different JPY pairs, however, I am not shorting E/J at this time.

EUR has been the strongest currency as of late so I chose to short the "weaker" pairs such as AUD/JPY, CAD/JPY, and even NZD/JPY. I am still a little cautious though to be honest due to the recent strong uptrend.
  • #39
  • Jan 29, 2013 12:28am Jan 29, 2013 12:28am
Quoting DaEdge
This e/j trade from is from last week that I discussed on in e/j thread. I'm looking for 125.00 as a target my average price is 119.25, I booked profit on 3 lots last night & I'm looking to add in more around 119 & 120. I'm expecting a bit of a pullback this week do to some profit taking & repositioning in front of NFP, so I am hedging it with a short on the g/j which I put on last night got filled at 143.20 which is the chart below.

http://i1356.photobucket.com/albums/...ps2c3a0048.jpg

http://i1356.photobucket.com/albums/...pse1c496eb.jpg

This...
Just a little update on what I have going on I booked 1 more on my e/j long at 122.25 & I added in 5 more lots on my g/j short so my average price is 142.78. Im looking for 118.00/50 to add in more longs on my e/j & I have a rough target of 139.50 on my g/j shorts. I was expecting a bit more selling pressure over the next couple of days in front of NFP.
It works till it doesn't
  • #40
  • Jan 29, 2013 12:30am Jan 29, 2013 12:30am
Quoting 100PipsADay
An interesting note about the two charts above (EUR/JPY & GBP/JPY) is that they both averaged almost exactly 400 pips per week for the past 5 weeks. Also, 1st weekly supports for both pairs are almost exactly 600 pips below current level.

E/J: 1st Support I have below current level is 117.60 or a retrace of about 600 pips.

G/J: 1st Support I have below current level is 139.29 or a retrace of about 600 pips.

Interesting how both have moved about the same amount of pips during the past 5 weeks and both have weekly supports of almost the...
It works till it doesn't
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