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JPY Cross Pairs

  • #81
  • Jan 30, 2013 12:46am Jan 30, 2013 12:46am
Quoting mpradeep
I too subscribed. Nice thread 100 pips i like your explanation. Thank you. Please update always so we can be benefited.
Welcome Mpradeep
  • #82
  • Jan 30, 2013 3:58am Jan 30, 2013 3:58am
Tried a pending short at 123.65 for EJ with tight SL of 5 pips. It works, bagged 10pips for nothing.
  • #83
  • Jan 30, 2013 4:57am Jan 30, 2013 4:57am
the trend is your freind. go only with it. in the daily the trend is up. so find setups for long only! dont go against the daily trend cuz the trend will defeat you!!!
trading is not an addiction. it's a profession.
  • #84
  • Jan 30, 2013 9:16am Jan 30, 2013 9:16am
waiting for Stochastics to gather together before the next move
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  • #85
  • Jan 30, 2013 9:19am Jan 30, 2013 9:19am
i´m in

AUD/JPY seems to me sideways now with the relative AUD/USD weakness
just do it
  • #86
  • Jan 30, 2013 9:26am Jan 30, 2013 9:26am
30 min Stoch of Jpy pairs...Kiwi being its typical self will probably offer the best buying upward opportunity if you are bullish.
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  • #87
  • Jan 30, 2013 10:06am Jan 30, 2013 10:06am
Coondawg, where can I get your stochastic indicator? Looks interesting. Thanks.
  • #88
  • Jan 30, 2013 10:09am Jan 30, 2013 10:09am
watching the Kiwi Yen
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  • #89
  • Jan 30, 2013 12:24pm Jan 30, 2013 12:24pm
All of the indicators I use are written by the team at FXCODEBASE.com

The indicator you are referring to is a Two Instrument Stochastic then I overlap the different pairs to obtain an overview of where they compare to each other. Been doing that for years. Gives a great vantage point from afar. The key is to smooth out the readings.
  • #90
  • Jan 30, 2013 12:29pm Jan 30, 2013 12:29pm
Holding gbp/jpy for 162... I am a position trader and do base my trades off of weekly and monthly, and I rarely see such a beautiful monthly set up
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  • #91
  • Jan 30, 2013 8:02pm Jan 30, 2013 8:02pm
EURJPY - A view of its weekly chart. Nice flat-top triangle. Time for some consolidation of the up trend? A reversal at 125.00 likely and may retrace to around 112.50 (confluence of the recent double top resistance turned support (111.48 circa 10/2011 and 03/2012) and also fib 38.2). This is a long-term view. Anything can happen, as EURJPY may just continue shooting up. Just sharing.

http://img41.imageshack.us/img41/3796/28464303.jpg
  • #92
  • Jan 30, 2013 8:09pm Jan 30, 2013 8:09pm
Quoting hohgch
EURJPY - A view of its weekly chart. Nice flat-top triangle. Time for some consolidation of the up trend? A reversal at 125.00 likely and may retrace to around 112.50 (confluence of the recent double top resistance turned support (111.48 circa 10/2011 and 03/2012) and also fib 38.2). This is a long-term view. Anything can happen, as EURJPY may just continue shooting up. Just sharing.

http://img41.imageshack.us/img41/3796/28464303.jpg
Is it possible EJ drop now ?

Now Asian is weak bear from 123.7+
  • #93
  • Jan 30, 2013 9:05pm Jan 30, 2013 9:05pm
EJ is preparing for a huge move to the Upside.
Do not see any consolidation currently.
After 1st Qtr there are chances.

Next target is 125 and above.
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #94
  • Jan 30, 2013 9:06pm Jan 30, 2013 9:06pm
Quoting aviz12
EJ is preparing for a huge move to the Upside.
Do not see any consolidation currently.
After 1st Qtr there are chances.

Next target is 125 and above.
So fast has another huge move ?
  • #95
  • Jan 30, 2013 9:08pm Jan 30, 2013 9:08pm
Yesterday I closed out my AUD/JPY, CAD/JPY, and NZD/JPY shorts for a small loss but after watching how yesterday's daily candle closed on AUD/JPY I decided to short again.

Short 5 Lots @ 94.80

*Yesterday's daily candle moved higher but then was pushed back down by sellers forming a shooting star / doji on the daily candle. Targets still the same as they were before @ 89.50

Should have been a little more patient...
Attached Image(s) (click to enlarge)
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  • #96
  • Jan 30, 2013 9:10pm Jan 30, 2013 9:10pm
Quoting k3nshinz3139
So fast has another huge move ?
In the Asia session the EJ pair has already intraday consolidated.
Its reacting in reaction to U/J .
the U/J is also at the bottom level now around 90.80 zone..

I am looking to see Buying occur on both pairs in London Open.
Classical chart patterns of currencies from 15+ Year Pro Trader
  • #97
  • Jan 30, 2013 9:42pm Jan 30, 2013 9:42pm
Quoting aviz12
In the Asia session the EJ pair has already intraday consolidated.
Its reacting in reaction to U/J .
the U/J is also at the bottom level now around 90.80 zone..

I am looking to see Buying occur on both pairs in London Open.
hi all
i am new to this thread
looking forward for your outlook on EURJPY pair
You see, but you do not observe. The distinction is clear
  • #98
  • Jan 30, 2013 9:51pm Jan 30, 2013 9:51pm
Quoting aviz12
In the Asia session the EJ pair has already intraday consolidated.
Its reacting in reaction to U/J .
the U/J is also at the bottom level now around 90.80 zone..

I am looking to see Buying occur on both pairs in London Open.
Hi Aviz,

I'm curious to know what you mean by "U/J is also at the bottom level now around 90.80" ?

Is this an intraday support zone you have for U/J?

Just curious...
  • #99
  • Jan 31, 2013 7:02am Jan 31, 2013 7:02am
hi 100pips and everyone,
can i know what fundamental news can affect the jpy intraday movement..
just like NIKKEI and DJIA.
and how the NIKKEI and DJIA affect the jpy pairs ??
thanks for help !!

regards,
ky
  • #100
  • Edited 12:17pm Jan 31, 2013 11:45am | Edited 12:17pm
Quoting ky_tan91
hi 100pips and everyone,
can i know what fundamental news can affect the jpy intraday movement..
just like NIKKEI and DJIA.
and how the NIKKEI and DJIA affect the jpy pairs ??
thanks for help !!

regards,
ky

Hi Ky,

I would say that the biggest driver of the JPY as of right now is the BOJ's recent decisions for further easing. Their new inflation target of 2% is a very aggressive target.

The BOJ's decisions are more "fundamental" then news driven. When it comes to intraday trading and "news" driven movements member FibStalker puts it very nicely. "News is relevant only when it contributes to break sequences of measured moves induced by Program Trading on the larger time frames, i.e. daily and weekly. But very rarely news is capable of doing that: what can really change market direction is huge and coordinated participation from smart money and/or central banks. For instance, the S&P500 was turned higher twice in the last 3 years: the first time in March 2009 and the second time in May-July 2011 by the intervention of the FED with Quantitative Easing initiatives."

As far as Nikkie and DJIA affecting the movement of JPY pairs I am not too sure about any direct correlation. One could argue that a "risk-on" environment is bullish for both DJIA as well as JPY pairs but the whole "risk-on" paradigm is debatable in itself. However, if you pull up a chart of the Nikkei exchange as well as the JPY currency chart you will notice a direct inverse correlation. So as the Yen weakens then stocks should climb higher. This is why Japanese stocks have had their biggest rally in the past 2 decades due to the recent weakening of the Yen.
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