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USD/JPY Discussion

  • #33,581
  • Apr 25, 2013 5:37pm Apr 25, 2013 5:37pm
Can you explain what the "upward pointing pennant" indicates? I'm not familiar with those candle shapes. I'm hearing a lot of talk that USD/JPY will make a run for 100 after the BOJ meeting today. Whether or not it breaks remains to be seen. Currently, I've got a pending long order at 99.46 off the break of the 1H pin bar. So far it's a no go...
  • #33,582
  • Apr 25, 2013 6:23pm Apr 25, 2013 6:23pm
Quote
The announcement will most likely be a catalyst for yen volatility, with the 100.00 level no far. According to Sean Lee, founder at FXWW: "USD/JPY is still being dominated by the big barrier protection ahead of 100.00, with big players selling huge amounts just ahead of it and then buying these back on any decent dips. Nice money if you can get it!"
Big clue.. Doing that last two weeks.. :nerd:
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  • #33,583
  • Apr 25, 2013 6:27pm Apr 25, 2013 6:27pm
What's the big deal about breaching the 100 level? At 30 year chart it means almost nothing. Breaching 125 would be another story, much significantly.
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"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #33,584
  • Apr 25, 2013 11:30pm Apr 25, 2013 11:30pm
I had a long set at 98.50, but, as you saw it was a mere 6 pips away and turned.

Oh well, missed it by 'that' much!
  • #33,585
  • Apr 26, 2013 12:27am Apr 26, 2013 12:27am
Yeah!! There it is!!!

Now let's go to 100!!!
  • #33,586
  • Apr 26, 2013 2:37am Apr 26, 2013 2:37am
Quoting trylikeafool
Can you explain what the "upward pointing pennant" indicates? I'm not familiar with those candle shapes. I'm hearing a lot of talk that USD/JPY will make a run for 100 after the BOJ meeting today. Whether or not it breaks remains to be seen. Currently, I've got a pending long order at 99.46 off the break of the 1H pin bar. So far it's a no go...
Hi, sorry for the delay in answering - I was asleep

I don't have Java on this machine so I can't easily get a free chart screenshot from FXCM to show you, however at least as good is this explanation from Baby Pips. Upward or downward pointing pennants are a half-way structure between what Baby Pips describes as a pennant, and what they describe as a wedge. In this case on the UJ 4hr chart the top of the pennant is pretty much flat and the bottom slopes up.

Right now it looks like the barrier at 100 is too strong so it may not be broken without help from some political numpty.

I learned some of my chart shapes from a book on Technical Analysis by Michael N Kahn, I learned some more from the Candlestick Course by Steve Nison. There are lots of features to look for and most people get excited about a few, search around the forum to see.
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  • #33,587
  • Apr 26, 2013 4:41am Apr 26, 2013 4:41am
Some downside coming for a few days i reckon
  • #33,588
  • Apr 26, 2013 5:18am Apr 26, 2013 5:18am
Quoting brinks
Some downside coming for a few days i reckon
Yeah that's for sure. Look at the price action.
  • #33,589
  • Apr 26, 2013 6:07am Apr 26, 2013 6:07am
Quoting brinks
Some downside coming for a few days i reckon

I agree with that ,and I wish that

BEST WISHES TO ALL
  • #33,590
  • Apr 26, 2013 6:10am Apr 26, 2013 6:10am
What about if the US GDP comes in on the numbers?
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  • #33,591
  • Apr 26, 2013 6:44am Apr 26, 2013 6:44am
Thanks
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  • #33,592
  • Apr 26, 2013 7:50am Apr 26, 2013 7:50am
so is the push to 100 UJ over? ;
  • #33,593
  • Apr 26, 2013 7:53am Apr 26, 2013 7:53am
Quoting Perrificatio
so is the push to 100 UJ over? ;


I think that it is over for now, but it may come the next month. (not for sure)

best wishes
  • #33,594
  • Apr 26, 2013 8:08am Apr 26, 2013 8:08am
retrace to 96 area? who knows...
  • #33,595
  • Apr 27, 2013 5:23pm Apr 27, 2013 5:23pm
hi all , what do you think about USDJPY daily chart's M reversal pattern, literature tells es that trend will go down when price will achieve middle point of M, but how much i can have faith of this literature ?
will trend go down , however there is not price went down to the middle point of M yet . what decided about Yen's price in japan , will it go down or up ?

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  • #33,596
  • Apr 30, 2013 2:58am Apr 30, 2013 2:58am
How would you guys analyze difference in daily charts from Japanese Broker and standard broker?

Japanese Broker suggests that USD/JPY could possibly be in range while other broker suggests that it could become a double top.

Very interesting

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  • #33,597
  • Apr 30, 2013 5:12am Apr 30, 2013 5:12am
Long at 97.40, see if this SR line holds.
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  • #33,598
  • Apr 30, 2013 5:19am Apr 30, 2013 5:19am
what is the corelation between usd/jpy and the eur/usd ??

and why are they corelating ???
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  • #33,599
  • Apr 30, 2013 6:04am Apr 30, 2013 6:04am
Quoting balanced2012
what is the corelation between usd/jpy and the eur/usd ?? and why are they corelating ???
From my little experience point of view , it is complicated , simply observing that good news for eur or usd , the jpy pairs go down, also bad news for jpy pairs go up , but that is not all the time ,I observed that this happens two or three times in a month also it may be all the month or none , at the bigening I thought that market controllers and masters of market are making traps for small traders but this is not more than 20%-40% of the move and 20% other institutes , companies and 40% from governments to control intrest, inflation.....etc

So governments are balancing there pairs to control this ,,,,,,and we are trading in the area of swing to maintainand keep controlling this balance. The arabian call eur/jpy {the mad}. Try to be more on chart ,

Best wishes,and good luck
  • #33,600
  • Apr 30, 2013 12:56pm Apr 30, 2013 12:56pm
I am not trading for years and years..... but only for several months, 4 months experience now. I trade only USDJPY. But keep an eye on other pairs too specially where one currency is JPY
What I yet found from Forex trading is...
1. It's all about patience.
2. Trend is your friend.
Every trade turns Green sooner or later. You just need to control yourself from over-trading as it puts your account in danger. And never trade against the trend.
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