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USD/JPY Discussion

  • #33,101
  • Mar 7, 2013 9:07pm Mar 7, 2013 9:07pm
Quoting Halba
crazy increase in the past few months, up 1700 pips.and counting..chart needs a rest
Clearly in the weekly and monthly chart, the currencies has been accumulated very heavily according to volume analysis. This is confirmed by weekly chart with supply has been dried up in the weekly chart. and therefore the JPY currencies has been shooting up high sky. and the daily shakeout has confirmed the USDJPY will continue to rally.
Do not think of shorting unless there is buying climax, High Volume upthrust or Distribution of stocks in the background.

- Just a passerby -
Attached Image (click to enlarge)
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Read the entire market, money is made on the main trend not the fluctuation
  • #33,102
  • Mar 7, 2013 9:23pm Mar 7, 2013 9:23pm
agree. although i think what we saw was only a small retrace... the real shake-out is about to come.
anyway, this pair has some heavy unfinished business in the mid 114, that's where my long term target is

Quoting Kofmaster
Clearly in the weekly and monthly chart, the currencies has been accumulated very heavily according to volume analysis. This is confirmed by weekly chart with supply has been dried up in the weekly chart. and therefore the JPY currencies has been shooting up high sky. and the daily shakeout has confirmed the USDJPY will continue to rally.
Do not think of shorting unless there is buying climax, High Volume upthrust or Distribution of stocks in the background.

- Just a passerby -
Nihil Sine Deo.
  • #33,103
  • Mar 7, 2013 9:43pm Mar 7, 2013 9:43pm
Quoting Scrat
agree. although i think what we saw was only a small retrace... the real shake-out is about to come.
anyway, this pair has some heavy unfinished business in the mid 114, that's where my long term target is
Understood when you say 114. I have few more high target but 1 at a time =)

Would love to know why would you say that wasn't a shakeout.
Read the entire market, money is made on the main trend not the fluctuation
  • #33,104
  • Mar 8, 2013 1:44am Mar 8, 2013 1:44am
Quoting Braincells
I think that shorting U/J right now with a very tight stop may be a very good risk/reward play; risking about 20 pips for a potential 150 to 250 pips (retracement to 93.50 and maybe around 92.50 close to the cloud on a daily chart).. big boys have to shake out smaller players..
went to sleep and UJ is higher than when I left it. Nice. I'm not sure about shorting in stealth uptrend like now, maybe we should wait for NFP today to give us direction or something. If it breaks 95.50, I'll add more gasoline to my longs. Nikkei, which is highly correlated with this baby is trading and will close above 12k which is maybe a part of agenda called "a trip to 13,000" as Japanese officials wants. Many speculations and expectations, but one is for sure - UJ is in uptrend and trend is your...
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #33,105
  • Mar 8, 2013 1:55am Mar 8, 2013 1:55am
it's a matter of interpretation, i tend to think of a shake-out as a move that goes significantly deep back into the trend - how else are you gonna convince weak holders to give up their positions?
from the weekly chart, this looked more like a sneeze than a shake-out. i would consider mid 84 or lower 82 as shake-outs.
but that's just me.

Quoting Kofmaster
Understood when you say 114. I have few more high target but 1 at a time =)

Would love to know why would you say that wasn't a shakeout.
Nihil Sine Deo.
  • #33,106
  • Mar 8, 2013 1:58am Mar 8, 2013 1:58am
Here's a path to 100 , according to Deutsche Bank,although it could be to 90 if something goes wrong here
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"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #33,107
  • Edited 3:00am Mar 8, 2013 2:45am | Edited 3:00am
Really would appreciate some 5min speed candles to close up this hour!

Edit: Thank you trading gods.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #33,108
  • Mar 8, 2013 4:20am Mar 8, 2013 4:20am
H4 UJ
Range of Moving right now
94.98 - 95.75
Above 95.80 T/P1 =96.17/30/75 T/P2=97.35
Below 94.65 T/P1=94.25 T/P2=93.80 T/P3=93.35
The Best Area for Buy 94.98/ 95.15 for 95.70/80
Don’t follow someone else’s trading advice blindly
  • #33,109
  • Mar 8, 2013 5:20am Mar 8, 2013 5:20am
For those who missed the boat so far...now is worth a try long.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #33,110
  • Mar 8, 2013 6:20am Mar 8, 2013 6:20am
Time to short usdjpy a big fall might happen today ...
Forex
  • #33,111
  • Mar 8, 2013 7:40am Mar 8, 2013 7:40am
Quoting kamifx
H4 UJ
Range of Moving right now
94.98 - 95.75
Above 95.80 T/P1 =96.17/30/75 T/P2=97.35
Below 94.65 T/P1=94.25 T/P2=93.80 T/P3=93.35
The Best Area for Buy 94.98/ 95.15 for 95.70/80
Hope you got why i used different T/P1 for Up Moving
But be careful for 96.75
Have a nice Day
Don’t follow someone else’s trading advice blindly
  • #33,112
  • Mar 8, 2013 8:11am Mar 8, 2013 8:11am
Those who missed best levels for Entry must wait till pair gets back from 96.50 toward 95.78/94 - or the weak level 96.17 if you want be away of swings and stress 95.78 till 95.94 Strong entry Areas
Don’t follow someone else’s trading advice blindly
  • #33,113
  • Mar 8, 2013 8:44am Mar 8, 2013 8:44am
UJ looks so healthy now - 10Y t-notes down, DXY up, stocks up, solid NFP numbers...only taking profits could slow down the journey to 100.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #33,114
  • Mar 8, 2013 9:54am Mar 8, 2013 9:54am
Tenkan sen line on 1h provides solid support again. I think NY session will bring new high today.Monday - take profit and consolidation.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #33,115
  • Mar 8, 2013 11:30am Mar 8, 2013 11:30am
http://shrani.si/f/39/Nk/2NbZs4Y5/eur-jpy.png
  • #33,116
  • Mar 8, 2013 11:32am Mar 8, 2013 11:32am
http://shrani.si/f/1H/vT/3tmFfsvV/usd-jpy.png
  • #33,117
  • Mar 8, 2013 4:31pm Mar 8, 2013 4:31pm
Quoting bikov
Here's a path to 100 , according to Deutsche Bank,although it could be to 90 if something goes wrong here
its still a long schedule, and anything can happen in the meantime.

the pair has gone up 500+ from the low last week, it needs a break for a week or two.
  • #33,118
  • Mar 8, 2013 6:34pm Mar 8, 2013 6:34pm
100 next week? We will see yen is shittttt
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  • #33,119
  • Edited 6:22am Mar 9, 2013 5:42am | Edited 6:22am
Quoting Halba
its still a long schedule, and anything can happen in the meantime.

the pair has gone up 500+ from the low last week, it needs a break for a week or two.
yes it's long path but any consolidation or time out would be a chance for loading the guns for shooting at 100 and beyond. Anyone remember gold stealth run ? In those days I had a long entered at $1001 and closed right after crossing 1200 wondering if that was an end of a spectacular run. Well, I was wrong. Now I expect a tough road, just for shaking weak hands and I hope I won't be any of them. A 100 is too close now, it would be sad if we cannot kiss that level. Let the force(market) be with us.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #33,120
  • Mar 9, 2013 12:20pm Mar 9, 2013 12:20pm
Quoting kamifx
Hope you got why i used different T/P1 for Up Moving
But be careful for 96.75
Have a nice Day
I suggest some levels: First consider these levels:
95.65 and 96.75/95
It's clear we have to see the pair above 101.00 but before that we should see some swings among low levels to get enough momentum to go higher.
96.55 was very strong last week, but be sure above 96.90 make the way toward 97.70 (very strong Resistance) and after some swing will go toward psycho level 100 and then 101.00
For daily Trade, i'll suggest some levels on Mon. though
Have a good weekend
Don’t follow someone else’s trading advice blindly
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