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JPY Cross Pairs

  • #521
  • Apr 1, 2013 2:57am Apr 1, 2013 2:57am
Quoting sidhujag
werent u the one calling me out on my short bias?
Yea, you mean the one from over 2 months ago that experienced a 400+ pip draw down?

I post charts, analysis, and current open positions. What do you do? Come in with a one liner every so often and then make 2-6 month projection so that you can eventually say you're right?

I made money going up and down. Just banked 1,100 pips last week with my EUR/JPY shorts and currently have over 2,000 pips floating profit. I've highlighted trades that are likely to reach TP targets fairly soon (hours to a few days)

Mind sharing any charts or current open positions with us Sidhujag? You're starting to sound like a kid we know...
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  • #522
  • Apr 1, 2013 3:05am Apr 1, 2013 3:05am
Hi: Can someone please tell me, if Japan goes for QE will that cause the JPY to go further down? I have been trading purely technical but now I am starting to realize that I need a bit of fundamental too (any suggestion for literature on currency fundamental is appreciated it), Thanks
  • #523
  • Apr 1, 2013 3:09am Apr 1, 2013 3:09am
Quoting rehab
Hi: Can someone please tell me, if Japan goes for QE will that cause the JPY to go further down? I have been trading purely technical but now I am starting to realize that I need a bit of fundamental too (any suggestion for literature on currency fundamental is appreciated it), Thanks
It is really hard to say what will happen as the market could have already priced everything in. I am starting to think that we may be heading lower during the coming weeks in order to form new "higher lows" from a weekly perspective.

Fundamentals can be difficult to interpret and I personally have a hard time implementing them into my trading strategy. I have recently started trading from a purely technical stand point but I try to follow fundamentals for a macro view of the market.
  • #524
  • Apr 1, 2013 3:16am Apr 1, 2013 3:16am
Thanks a lot for your quick reply. I am trying to learn fundamentals only as you said on a macro view (as I have no background knowledge in economey), like effect of Interest rate decision, QE..etc Anyway, My technical tells me that JPY will increase in price and I am short on GPY and watching levels: 139.2, 137.8 which if breaks I will look for 133.4. Thanks for sharing your thoughts. Rehab
  • #525
  • Apr 1, 2013 3:19am Apr 1, 2013 3:19am
LONG x/JPY now.

aud/jpy
nzd/jpy
gbp/jpy
eur/jpy
usd/jpy
  • #526
  • Apr 1, 2013 3:19am Apr 1, 2013 3:19am
double post;
price action

TP for USD/JPY 93,60 - 93,75

will enter short from there.
  • #527
  • Apr 1, 2013 12:18pm Apr 1, 2013 12:18pm
Quoting 100PipsADay
Yea, you mean the one from over 2 months ago that experienced a 400+ pip draw down? I post charts, analysis, and current open positions. What do you do? Come in with a one liner every so often and then make 2-6 month projection so that you can eventually say you're right? I made money going up and down. Just banked 1,100 pips last week with my EUR/JPY shorts and currently have over 2,000 pips floating profit. I've highlighted trades that are likely to reach TP targets fairly soon (hours to a few days) Mind sharing any charts or current...
drawdown is relative to ur tp so think about it a bit more
  • #528
  • Edited 12:44pm Apr 1, 2013 12:27pm | Edited 12:44pm
Quoting sidhujag
drawdown is relative to ur tp so think about it a bit more
The question is not about "my TP" but it is a question about yours. You didn't mention your stop loss or take profit targets so nobody has any idea about what you are shooting for, why you are trading, and when you plan on getting out even if trade moves against you. A little vague as usual Sidhujag.

By the way, I would never place a trade risking 400+ pips to gain 280. Risk:Reward ratio is not even positive and I use a fairly large TP target! Sometimes I will risk 260 to gain 320 which is still a positive R:R ratio.

To each his own I guess...
  • #529
  • Apr 1, 2013 12:37pm Apr 1, 2013 12:37pm
Quoting openyoureyes
double post; price action TP for USD/JPY 93,60 - 93,75 will enter short from there.
made %600 profit from x/jpy pairs today

I'm more bullish looking at USD/JPY *short-term

Will hold my shorts
  • #530
  • Apr 1, 2013 1:37pm Apr 1, 2013 1:37pm
Quoting 100PipsADay
The question is not about "my TP" but it is a question about yours. You didn't mention your stop loss or take profit targets so nobody has any idea about what you are shooting for, why you are trading, and when you plan on getting out even if trade moves against you. A little vague as usual Sidhujag. By the way, I would never place a trade risking 400+ pips to gain 280. Risk:Reward ratio is not even positive and I use a fairly large TP target! Sometimes I will risk 260 to gain 320 which is still a positive R:R ratio. To each his own I guess...
Yes even with 400 pip drawdown the R:R for it is still greater than 4:1
  • #531
  • Apr 1, 2013 7:25pm Apr 1, 2013 7:25pm
Is this valid for CADJPY?
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  • #532
  • Apr 1, 2013 8:04pm Apr 1, 2013 8:04pm
Pretty good spot to try some longs in AUD/JPY.

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Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #533
  • Apr 2, 2013 4:11pm Apr 2, 2013 4:11pm
I closed my short GJ. I am staying aside of yen for now.
  • #534
  • Apr 3, 2013 5:24am Apr 3, 2013 5:24am
I'm curious who here might looks at instruments like FXY (Yen Currency Fund) of XDN.N (PHLX US Dollar/Yen Settled Currency Options Index) as means of gaining a perspective other than maybe Commitment of Traders??? Anybody?

sjc
  • #535
  • Apr 3, 2013 5:34am Apr 3, 2013 5:34am
Quoting Coondawg71
I'm curious who here might looks at instruments like FXY (Yen Currency Fund) of XDN.N (PHLX US Dollar/Yen Settled Currency Options Index) as means of gaining a perspective other than maybe Commitment of Traders??? Anybody? sjc
Hey CoonDawg,

I've looked at FXY charts a few times but don't really follow it enough to have any sort of edge.
  • #536
  • Apr 3, 2013 5:46am Apr 3, 2013 5:46am
Obviously I know they don't carry has much as the cash market itself, but it is interesting to see that there is a market on the other side in a different arena per se. They both are showing good momentum pro Yen are larger time frames. Pic not the best, but is shows the sentiment.

sjc
Attached Image
  • #537
  • Apr 3, 2013 6:11am Apr 3, 2013 6:11am
what do u guys think about usd/jpy ???
  • #538
  • Apr 3, 2013 6:26am Apr 3, 2013 6:26am
Quoting Brocklesnar
what do u guys think about usd/jpy ???
So the Bank of Japan starts its two day meeting today. There is a huge weight of expectation upon the governor Kuroda. To stand any chance of achieving the goal of 2% inflation in two years, he’s going to have to come out guns blazing when results are announced tomorrow.

When you’ve been pushing the QE button as long as the Bank of Japan has, there are few if any surprises left in the policy arsenal. There are various technical measures and adjustments that can made (scrapping banknote rule, purchasing longer dated bonds), but in isolation none are going to make a major difference. There have been signs that psychology is changing in Japan with the new government, with some firms putting up wages for example (a major thing in an economy gripped by deflation).

As such, the Bank of Japan will have to jump in with both feet tomorrow to keep the change in momentum going. Japan’s biggest failing over the past decade or more has been to shy away from change and back into the old ways and this time, they can’t afford for that to happen. It’s this ‘all guns blazing’ scenario which is about the only one that could see the yen weaken tomorrow.
  • #539
  • Apr 3, 2013 6:50am Apr 3, 2013 6:50am
Thanks for the reply 100p
have u opened any positions in usd/jpy or any other pair ?




Quoting 100PipsADay
So the Bank of Japan starts its two day meeting today. ("http://www.forexcrunch.com/is-japan-up-for-it/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+ForexCrunch+%28Forex+Crunch%29") There is a huge weight of expectation upon the governor Kuroda. To stand any chance of achieving the goal of 2% inflation in two years, he’s going to have to come out guns blazing when results are announced tomorrow. When you’ve been pushing the QE button as long as the Bank of Japan has, there are few if any surprises left in the policy...
  • #540
  • Apr 3, 2013 7:12am Apr 3, 2013 7:12am
Quoting Brocklesnar
Thanks for the reply 100p have u opened any positions in usd/jpy or any other pair ?
I've got a few short positions in USD/JPY, EUR/JPY, and CAD/JPY from the pat week or so.

Current Open Positions

**Let's see what ADP NFP brings for us in the next few minutes**
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