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USD/JPY Discussion

  • #33,161
  • Mar 16, 2013 5:59am Mar 16, 2013 5:59am
Quoting 100PipsADay
I understand. It sounds like you have your own system and are sticking by your rules, that is important.

Good luck with your trades Orabi
Thank you i use technical analysis and i believe in it too
thank you . wish you good trades too have a nice day
focus while relaxed to see better
  • #33,162
  • Mar 16, 2013 6:03am Mar 16, 2013 6:03am
Quoting orabi
BOJ will react if it drops more than 78 as we know from history but you have a point also .i know you are not rude it is money people should be careful when posting thing about it i just wanted to share my view thats all
have a nice day
Thanks for sharing your analysis with charts Orabi, hope you enjoy your day as well.

I am still bullish on USD/JPY and all JPY cross pairs.



Ok, below are results on a DEMO account utilizing the Third Screen Strategy of Dr. Alexander Elder for USD/JPY and 4 other JPY Cross Pairs.

Brief description of strategy: I use a Trend Strategy which uses a part of the "Third Screen Strategy" of Dr. Alexander Elder. First, I find in a D1 chart the global trend using the MACD indicator. Once the overall trend is clear, I use the H1 time frame to act in the same trend using the Williams Percentage Indicator.

AUD/JPY, EUR/JPY, CAD/JPY, NZD/JPY, and USD/JPY.

4 Max Positions per currency pair

D1 MACD - Uptrend

H1 Williams % - All positions were bought when conditions showed "over sold"

SL: 160

TP: 280

Risk/Reward: 1:1.75


Notice that the first position at the very bottom was opened 1 week ago on March 8th. The most recent position up top (AUD/JPY) was opened up on Friday.

*This past week was basically a "text book" example for the JPY cross pairs in regards to how this strategy works.

*Also note that GBP/JPY is not listed as the swings with that pair are too volatile for this particular strategy.

http://www.forexfactory.com/attachme...8&d=1363338020
  • #33,163
  • Mar 16, 2013 12:12pm Mar 16, 2013 12:12pm
Hi all
But it's better give some info. during the market to help traders or give a clear description about weekly levels or at least for whole month
Unfortunately, most of traders like those who sell their systems and indicators and show or talk about their selling after everything be finished, draw some lines on charts and give ambiguous information about future or talk about something which all can see in their charts, nothing special.
Hope to see all more active
Cheers
Don’t follow someone else’s trading advice blindly
  • #33,164
  • Mar 16, 2013 1:12pm Mar 16, 2013 1:12pm
Japan Reflationists Score Biggest Win as Kuroda Confirmed

http://www.bloomberg.com/news/2013-0...-correct-.html
  • #33,165
  • Mar 16, 2013 1:20pm Mar 16, 2013 1:20pm
Quoting kamifx
Hi all
But it's better give some info. during the market to help traders or give a clear description about weekly levels or at least for whole month
Unfortunately, most of traders like those who sell their systems and indicators and show or talk about their selling after everything be finished, draw some lines on charts and give ambiguous information about future or talk about something which all can see in their charts, nothing special.
Hope to see all more active
Cheers
Hi KamiFX,

I just wanted to clarify that the above positions were opened up throughout last week and are all still "active" positions with set SL and TP targets. I just wanted to describe HOW and WHY positions were opened.
  • #33,166
  • Mar 16, 2013 3:59pm Mar 16, 2013 3:59pm
Quoting 100PipsADay
Hi KamiFX,

I just wanted to clarify that the above positions were opened up throughout last week and are all still "active" positions with set SL and TP targets. I just wanted to describe HOW and WHY positions were opened.
But my friend i didn't point out your nice post about the market.
I've given my comment even for myself to be more active and acceptable than just post some lines
I am sorry if i bother you
Have a nice weekend
Don’t follow someone else’s trading advice blindly
  • #33,167
  • Mar 16, 2013 4:24pm Mar 16, 2013 4:24pm
Quoting kamifx
But my friend i didn't point out your nice post about the market.
I've given my comment even for myself to be more active and acceptable than just post some lines
I am sorry if i bother you
Have a nice weekend
Oh ok I wasn't sure. Thank you for clarifying. I also agree with posting analysis with charts to support projections instead of just one liners as they don't do anybody any good without details

Enjoy your weekend too!
  • #33,168
  • Mar 17, 2013 12:47am Mar 17, 2013 12:47am
Most of analysis in different sites about UJ is Up direction without indicating about Time Frames but i believe consolidating for 2 or 3 days with down tendency more acceptable till it finds clear direction, It's obvious that dominant trend is Up but Technically (H1, H4) shows down trend and Price Pattern (H&S) has confirmed this direction by breaking the Neck Line.
Right now we should concern two Key Levels:
Up: 96.27/35
Down:94.60
As i mentioned last week, 95.09 levels is strong support level and caused pair bounced back about 40 Pips and this week breaking that level causes the pair goes down more
Cheers
Don’t follow someone else’s trading advice blindly
  • #33,169
  • Mar 17, 2013 1:11am Mar 17, 2013 1:11am
Gidday

US/JPY been taking longs for weeks

been really greedy then bang

it started crawling down

got caught with 2 longs which I will hold

as it tends to come back when you least expect.

So did pending 94.5 long 97.5 TP

With all the trouble they have gone to pump this to 100

I will be looking to do pending shorts 97.7 etc

These grasshoppers are getting sneaky

taking dumps when ever they feel like it

Quiet rude if you ask me
  • #33,170
  • Mar 17, 2013 2:02am Mar 17, 2013 2:02am
After the three week up run the Yen has consolidated failing to break above the round 97.00
level on the D1 chart. Trading within a relative narrow consolidation range.
Fridays break of the support at 95.70 may be begin of a down run in the near term.
A retest of the 95.70 could occur and open a possible down run to 94.18 observed earlier in march.
A break above last week's resistance at 96.60 may open a possible up run to 99.32 region.


Attached Image (click to enlarge)
Click to Enlarge Name: yen down break out possibilities.JPG Size: 71 KB


Happy trading all
  • #33,171
  • Mar 17, 2013 2:31am Mar 17, 2013 2:31am
After more than -100 pips correction, this pair always made new highs. It's shown on the charts.
  • #33,172
  • Edited 5:54pm Mar 17, 2013 3:40am | Edited 5:54pm
Weekly Chart: As can be seen from the 1st chart 94.70 has acted as significant support / resistance in the past. Now that price has broken though this area it should act as good support.

Daily Chart: 94.70 is right where the 20 EMA is. Notice how price tends to respect the 20 EMA more than not. However, when deeper corrections / pull backs occur the 50 EMA will also act as excellent support / resistance which can be seen on 2-25, 2-26, and 2-27.

Hourly Chart: Price bounced very nicely at 95.09 (just like KamiFx said it would BEFORE it happened ) but if we see a break of current support then I would expect 94.70 to be the last area of support before resuming its very strong uptrend.

Needless to say I am still bullish on USD/JPY from a technical and from a fundamental perspective.

Curious to hear other's thoughts and opinions. Thanks!
Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPY_Weekly_(3-16).png Size: 99 KB
Click to Enlarge Name: USDJPY_D1_-_(3-16).png Size: 135 KB
Click to Enlarge Name: USDJPY_H1_-_(3-16).png Size: 101 KB
  • #33,173
  • Mar 17, 2013 2:26pm Mar 17, 2013 2:26pm
U/j is currently @ 94.30! What a gap so far! If it opens below 94.50, then a drop towards 91.xx would in play IMO.
  • #33,174
  • Mar 17, 2013 2:35pm Mar 17, 2013 2:35pm
Good luck

http://www.bloomberg.com/quote/USDJPY:CUR
When the facts change I change my mind, what do you do sir
  • #33,175
  • Mar 17, 2013 5:49pm Mar 17, 2013 5:49pm
How do you get to the last page of this thread?
  • #33,176
  • Mar 17, 2013 5:52pm Mar 17, 2013 5:52pm
Quoting Af Capt
How do you get to the last page of this thread?
Here you go...
Attached Image (click to enlarge)
Click to Enlarge Name: FF_Last_Page.png Size: 380 KB
  • #33,177
  • Mar 17, 2013 5:53pm Mar 17, 2013 5:53pm
Quoting 100PipsADay
Weekly Chart: As can be seen from the 1st chart 94.70 has acted as significant support / resistance in the past. Now that price has broken though this area it should act as good support.

Daily Chart: 94.70 is right where the 20 EMA is. Notice how price tends to respect the 20 EMA more than not. However, when deeper corrections / pull backs occur the 50 EMA will also act as excellent support / resistance which can be seen on 2-25, 2-26, and 2-27.

Hourly Chart: Price bounced very nicely at 95.09 (just like KamiFx said...
A weekly close above the 94.70ish area keeps this projection still valid.
  • #33,178
  • Mar 17, 2013 5:56pm Mar 17, 2013 5:56pm
Quoting 100PipsADay
Here you go...
thanks man. I'm a little slow sometimes.
  • #33,179
  • Mar 17, 2013 6:35pm Mar 17, 2013 6:35pm
Quoting 100PipsADay
Weekly Chart: As can be seen from the 1st chart 94.70 has acted as significant support / resistance in the past. Now that price has broken though this area it should act as good support.

Daily Chart: 94.70 is right where the 20 EMA is. Notice how price tends to respect the 20 EMA more than not. However, when deeper corrections / pull backs occur the 50 EMA will also act as excellent support / resistance which can be seen on 2-25, 2-26, and 2-27.

Hourly Chart: Price bounced very nicely at 95.09 (just like KamiFx said it...
HI ther how are you .i turned to be bullish too my previous opinion is changed now and we may not see a big correction before 106 level
thank you very much for your thoughts
have a nice day )
focus while relaxed to see better
  • #33,180
  • Mar 17, 2013 7:11pm Mar 17, 2013 7:11pm
Gidday Traders

Still got longs from friday

all good small ones

Hit 94 come up a cent

caught some of that

entered a new pending long 94 again

Got me thinking now,as people talking 90 etc

The Grasshoppers will have to turn the Titanic around other wise everyone will be taking shorts

this will cost them even more trillions to push it through 97.5 etc
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