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USD/JPY Discussion

  • #33,441
  • Apr 19, 2013 8:58am Apr 19, 2013 8:58am
Quoting 1candlepower
matter fact, don't like look of drop below 99 ... thinkin maybe get out while ahead .
i'm out 99.03 ... do not understand this.
  • #33,442
  • Apr 19, 2013 9:32am Apr 19, 2013 9:32am
my gut feeling and charting reading abilities tell me 100 will reached in middle f NY session, just needs those London guys out of sight, it appears they are ruining the party lately
  • #33,443
  • Apr 19, 2013 9:32am Apr 19, 2013 9:32am
Quoting 1candlepower
i'm out 99.03 ... do not understand this.
i feel so stupid... the fall back to 98.95 was to the 76.4 retrace of 99.83 --> 95.78 move that started last week . totally made sense, so wrapped up in the tl pc forget to check the fib pc. note to self: focus.
  • #33,444
  • Apr 19, 2013 1:52pm Apr 19, 2013 1:52pm
Quoting Mozzy
175 pips by EOD? Big call. Unless something major happens I don't think there will be enough time at this current rate of climb. Times like these I wish I were a true psychic!
well you were right. guess 100's not in the cards today ... only got withing 8p of 99.75 just now --- annnnd i'm outta here.
  • #33,445
  • Apr 19, 2013 2:07pm Apr 19, 2013 2:07pm
http://forex-nawigator.biz/forum/resources/image/78485

99 90 - 100 30

101 45 big short
  • #33,446
  • Apr 19, 2013 2:09pm Apr 19, 2013 2:09pm
99 90 - 100 - 100 30

101 45 big short
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  • #33,447
  • Apr 19, 2013 2:38pm Apr 19, 2013 2:38pm
Quoting Dano12
99 90 - 100 - 100 30 101 45 big short {image}
I also see significant resistance at 100.70 - 101.70 from a weekly and monthly perspective. However, price hasn't stopped at any other areas of resistance during the past 6 months or so. Refer to the monthly and weekly charts as I've drawn out some areas of support / resistance.

If we close above 101.70ish on a weekly basis then I see 110 as the next stop for USD/JPY.

1st Target: 100.70 - 101.70
2nd Target: 110.00

Obviously there will be buying and selling on the way to 110.00 depending on a persons trading style, but overall trend is definitely UP.

One thing we need to keep in mind is that even though areas of support / resistance exist, price action at those levels is the actual guide and tells us whether or not to Buy or Sell at those levels.
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  • #33,448
  • Apr 19, 2013 2:54pm Apr 19, 2013 2:54pm
Quoting 100PipsADay
I also see significant resistance ...
Interesting. Thx for posting.
PK
  • #33,449
  • Apr 19, 2013 2:58pm Apr 19, 2013 2:58pm
I have a short position at 99.34 but I saw some analysis that the price will go up and up. I really dunno what to do with my minimum equity. Anyone mind to gimme some suggestion? Thank you in advance.
  • #33,450
  • Apr 19, 2013 3:26pm Apr 19, 2013 3:26pm
what a disappointing day again from NY traders... well, two scenarios over weekend:

1) gap up with 100 taken by banks - shorting through the gap down with no bottom in sight
2) gap down with eventual 100 next week
  • #33,451
  • Apr 19, 2013 3:51pm Apr 19, 2013 3:51pm
Quoting 100PipsADay
I also see significant resistance at 100.70 - 101.70 from a weekly and monthly perspective. However, price hasn't stopped at any other areas of resistance during the past 6 months or so. Refer to the monthly and weekly charts as I've drawn out some areas of support / resistance. If we close above 101.70ish on a weekly basis then I see 110 as the next stop for USD/JPY. 1st Target: 100.70 - 101.70 2nd Target: 110.00 Obviously there will be buying and selling on the way to 110.00 depending on a persons trading style, but overall trend is definitely...

let it be 101 56 -70 and short
  • #33,452
  • Apr 20, 2013 6:28am Apr 20, 2013 6:28am
Quoting anindocortez
I have a short position at 99.34 but I saw some analysis that the price will go up and up. I really dunno what to do with my minimum equity. Anyone mind to gimme some suggestion? Thank you in advance.
Does your broker allow going long in the same account (hedging)? Or, call options (with a broker like Interactive Brokers).

I hesitate to give advice given my numerous mistakes in the past. But the estimates I saw range from 110 to 130. If we get a bounce off 100 and back down to 99, I'd get out of a short. Or wait, the last quote on xe.com was only 99.50 You could possibly get out any time perhaps.

If you're not used to the leverage, you could always take a peek at ticker symbol DXJ in the stock market although this is not a recommendation. I'm not a broker or expert or anything really. (DISCLAIMER: None of this should be seen as investment advice.)
  • #33,453
  • Apr 20, 2013 6:49am Apr 20, 2013 6:49am
Quoting clambill
Does your broker allow going long in the same account (hedging)? Or, call options (with a broker like Interactive Brokers). I hesitate to give advice given my numerous mistakes in the past. But the estimates I saw range from 110 to 130. If we get a bounce off 100 and back down to 99, I'd get out of a short. Or wait, the last quote on xe.com was only 99.50 You could possibly get out any time perhaps. If you're not used to the leverage, you could always take a peek at ticker symbol DXJ in the stock market although this is not a recommendation. I'm...
Thanks, Sir. The problem is Im so scared of gap up at the open. Should get out quickly
  • #33,454
  • Apr 20, 2013 2:21pm Apr 20, 2013 2:21pm
I'd like to buy at 98.25 -- last week's open price and the 38.2% retrace of last week's range.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #33,455
  • Apr 21, 2013 3:46am Apr 21, 2013 3:46am
Quoting anindocortez
Thanks, Sir. The problem is Im so scared of gap up at the open. Should get out quickly
Any reason that you think it will gap up at open?
  • #33,456
  • Apr 21, 2013 3:53am Apr 21, 2013 3:53am
Quoting brinks
Any reason that you think it will gap up at open?
brinksssssssss , wazzap man ? How are my long USDJPY buddies doing? Sorry for all my absence but the last 2 months were crazy like hell in my company and I didn't had time to post my charts ;D. Was such a crazy ride with those 2 falls from 96 to 92 and the last from 99 to 95 , I had to close some trades with minus on gold just before the big drop ( I don't know how exactly I saw that coming but I closed at $1580 ) so I can save my USDJPY longs.

I also think that the EURUSD / USDJPY will open with a GAP up because of the news from Italy, also Lagarde's comments regarding more QE and the approval for BOJ's policy will push USDJPY and other YEN crosses up this week .

Cheers and green pips to you all !
  • #33,457
  • Apr 21, 2013 3:55am Apr 21, 2013 3:55am
Quoting MisterSpread
brinksssssssss , wazzap man ? How are my long USDJPY buddies doing? Sorry for all my absence but the last 2 months were crazy like hell in my company and I didn't had time to post my charts ;D. Was such a crazy ride with those 2 falls from 96 to 92 and the last from 99 to 95 , I had to close some trades with minus on gold just before the big drop ( I don't know how exactly I saw that coming but I closed at $1580 ) so I can save my USDJPY longs. I also think that the EURUSD / USDJPY will open with a GAP up because of the news from Italy, also...

Misterspread good to hear from you glad your hanging in there.

Yep have been in and out of these yen pairs for the last few months and see no reason to change yet.

Not sure about a gap up at open though.I dont really see a reason why it would as most of the G20 stuff was released before the close on friday.
  • #33,458
  • Apr 21, 2013 4:30am Apr 21, 2013 4:30am
any1 see price starts falling ? I see uj drops about 20 - 30 pips compared to Friday closing. but better waiting market open ....

99.23 now. most broker closed around 99.4x to 99.5x
not euphoria follower
  • #33,459
  • Apr 21, 2013 4:37am Apr 21, 2013 4:37am
Quoting iqyu5an
any1 see price starts falling ? I see uj drops about 20 - 30 pips compared to Friday closing. but better waiting market open ....

I also see that on some currencies sites UJ is at 99,230 but I think this week we will see it over 100
  • #33,460
  • Apr 21, 2013 9:18am Apr 21, 2013 9:18am
yes G20 meeting over, and it seems like everyone is supporting Japan to fight against inflation.
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