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USD/JPY Discussion

  • #33,501
  • Apr 23, 2013 7:18am Apr 23, 2013 7:18am
can't wait for it to finally break 99...
  • #33,502
  • Apr 23, 2013 8:13am Apr 23, 2013 8:13am
Quoting Perrificatio
can't wait for it to finally break 99...
yeah! It's 99.2 now!! March towards 100 is ON!
  • #33,503
  • Apr 23, 2013 8:17am Apr 23, 2013 8:17am
yes finally... ;( i really struggled to hold on to my previous position before the drops happened.
really lucky USD data released egg-ed the pips on.

better go up more before london closes.
  • #33,504
  • Apr 23, 2013 8:22am Apr 23, 2013 8:22am
Quoting namitak007
{quote} yeah! It's 99.2 now!! March towards 100 is ON!
I doubt that...i think its just a squeeze and new home sales will disappoint sending it to test 98.50 again.
  • #33,505
  • Apr 23, 2013 8:25am Apr 23, 2013 8:25am
Quoting ForexWhale
{quote} I doubt that...i think its just a squeeze and new home sales will disappoint sending it to test 98.50 again.
yea thats the 2nd obstacle. well expectations are lowered. but it doesnt change the fact that its still gonna be disappointing.
  • #33,506
  • Apr 23, 2013 8:48am Apr 23, 2013 8:48am
Quoting Perrificatio
{quote} yea thats the 2nd obstacle. well expectations are lowered. but it doesnt change the fact that its still gonna be disappointing.

big players are just positioning for profit. a bigger fall is beneficial for them. I wish I had some spare cash to put on the short at this point....
  • #33,507
  • Apr 23, 2013 9:30am Apr 23, 2013 9:30am
Quoting ForexWhale
{quote} big players are just positioning for profit. a bigger fall is beneficial for them. I wish I had some spare cash to put on the short at this point....

home sales went better than expected...caused even more spike. back to reality now
  • #33,508
  • Apr 23, 2013 9:49am Apr 23, 2013 9:49am
yeah! successfully survived the fall! Closed long with +32 still one need another spike! waiting at 99.5
  • #33,509
  • Apr 23, 2013 10:55am Apr 23, 2013 10:55am
very irritating spike....although helped me close a long but it was peanuts.

main entry is on a short which was on course for big gains..

cant believe it will go to 100 before Kuroda...has to be a pullback first.
  • #33,510
  • Apr 23, 2013 10:58am Apr 23, 2013 10:58am
i agree... closing london pushed the price onwards to 99.5 which is already pushing the letter. closed my long position on that... made alil as well, but still thankful to be able to close that position.

i established a short at 99.5.

any insights into TP level?
  • #33,511
  • Apr 23, 2013 11:02am Apr 23, 2013 11:02am
Really? To where?

I expected it to test at 99.5 then step back for another charge.
  • #33,512
  • Apr 23, 2013 11:04am Apr 23, 2013 11:04am
Quoting Perrificatio
i agree... closing london pushed the price onwards to 99.5 which is already pushing the letter. closed my long position on that... made alil as well, but still thankful to be able to close that position. i established a short at 99.5. any insights into TP level?
TP 105.21
  • #33,513
  • Apr 23, 2013 11:05am Apr 23, 2013 11:05am
Quoting Perrificatio
i agree... closing london pushed the price onwards to 99.5 which is already pushing the letter. closed my long position on that... made alil as well, but still thankful to be able to close that position. i established a short at 99.5. any insights into TP level?

98.50 can be good T/P which is my target as well.

This bounce wont last long.
  • #33,514
  • Apr 23, 2013 11:10am Apr 23, 2013 11:10am
Quoting Ulterior
{quote} TP 105.21
Never test the depth of water with both feet.
  • #33,515
  • Apr 23, 2013 11:10am Apr 23, 2013 11:10am
Quoting Mozzy
Really? To where? I expected it to test at 99.5 then step back for another charge.
hmm i considered that as well, but like whale said... i really dont think it will break 100. at most it will hit 99.6/99.7 but who am i to say? ;(
guys correct me if i am wrong. but i read the the fed just bought bonds off the market; i may have mis-read that... so i really dont see the usd appreciating against the yen with vigor
  • #33,516
  • Apr 23, 2013 11:12am Apr 23, 2013 11:12am
expecting a strong bearish move by 13:30 eastern
  • #33,517
  • Apr 23, 2013 11:15am Apr 23, 2013 11:15am
Hey guys, first post, checking in from Chile.
I mainly trade EUR-GBP-USD/JPY, and your comments here are more than helpful.

I hope to contribute as time goes on.

Right now I tend to agree with some of you in saying that this spike to 99.532 is a shortlived one. My money's on a sizeable drop back to 98.5 for USD/JPY, and I'm currently short on EUR/JPY, which I believe will see 126 this week. Although with the crazy EUR/JPY, I can't be sure we wont see 130.6 before dropping, but I'll ride it.
What are your opinions?
  • #33,518
  • Apr 23, 2013 11:19am Apr 23, 2013 11:19am
Are you targeting 98.5 too Whale?

I'm still inclined to expect it will drop to 98.00 if that's the case, but, I wasn't anticipating the turn around so soon.

Hmmmm, I'm really bad at this! :-)
  • #33,519
  • Apr 23, 2013 11:20am Apr 23, 2013 11:20am
long term trend is bullish and will take it to 100+ but short term its bearish. if US data was bad today, we couldve seen low 98 already.

just my opinion.
  • #33,520
  • Apr 23, 2013 11:23am Apr 23, 2013 11:23am
Quoting Mozzy
Are you targeting 98.5 too Whale? I'm still inclined to expect it will drop to 98.00 if that's the case, but, I wasn't anticipating the turn around so soon. Hmmmm, I'm really bad at this! :-)

yes targeting 98.50 and then judge the trend again. theres a strong support near 98.30, if it slices through that, then 96.50 is even in sights.

this pair is very news sensitive these days. BOJ will do everything to keep it bullish. lets see...using a tight stop loss
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