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USD/JPY Discussion

  • #34,021
  • May 20, 2013 6:04am May 20, 2013 6:04am
Quoting Danny Maina
{quote} Formation a pinbar and entry at the close of the following candle. Target is based on Friday's high.
... i thought pin bars, by definition were reversal patterns (you seem to be making a case for a continuation based on a pin bar)...?
90% of people, are wrong about 90% of everything, 90% of the time...
  • #34,022
  • May 20, 2013 6:47am May 20, 2013 6:47am
It moves untill it stops to move...
The Market pays you to be disciplined
  • #34,023
  • May 20, 2013 9:02am May 20, 2013 9:02am
Quoting Exodus
{quote} Yar, well all he needs to do is say something like "...the economy is looking in pretty good shape right now..." and that will push USD through the next level. BB is not known for couching things in such blatant terms, hence the but....
It is going to be a big day for this pair. After the japan's economy minister has spoken, one would have to be careful in saying this pair would south or north. The issue of "Monetary Policy Statement" and "BOJ Press Conference" coming up on Wednesday and then throwing in "Fed Chairman Bernanke Testifies","FOMC Meeting Minutes" then i see why the "BUT...".

Now am looking for another currency to trade
  • #34,024
  • May 20, 2013 9:03am May 20, 2013 9:03am
would the IRS scandal have any effect on the dollar?
  • #34,025
  • May 20, 2013 9:29am May 20, 2013 9:29am
I think the Yen will rebound, since Akira Amari said further slide for the Yen would have negative effects and signaled the prospect of higher bond yields.
  • #34,026
  • May 20, 2013 9:40am May 20, 2013 9:40am
Quoting mumuy
I think the Yen will rebound, since Akira Amari said further slide for the Yen would have negative effects and signaled the prospect of higher bond yields.

A further slide is negative for people inside Japan as they import most of their energy and raw goods. While it is good for exporters there is a certain point it has to balance out.

I believe Toshiba already announced the price of computers sold in Japan was going up due to Yen weakness, so that is a clear example of a negative effect if they let it slide too far.


If it drops below 100 I will buy but I will wait till then
  • #34,027
  • May 20, 2013 11:31am May 20, 2013 11:31am
...but watch for the Japanese restarting their nuclear generating capacity as the true cost of using other fuel comes home to roost.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #34,028
  • May 20, 2013 11:35am May 20, 2013 11:35am
Quoting Exodus
...but watch for the Japanese restarting their nuclear generating capacity as the true cost of using other fuel comes home to roost.

You mean they have been 'importing' power? Is that through old school coal burning?

From what you wrote is what I'm comprehending and that they'll begin generating their own power at a cheaper cost or more expensive?

I wasn't aware they had shut down major nuclear plants. I guess they are still damaged from the Tsunami.
  • #34,029
  • May 20, 2013 1:14pm May 20, 2013 1:14pm
QE Halt Would Be 'Too Violent' for Market: Fed's Fisher

FED vs BOJ who wins... Of course FED...

102 break coming ...
  • #34,030
  • May 20, 2013 2:03pm May 20, 2013 2:03pm
Gidday

Holding longs some under water
We would expect some retrace in the YEN
is it panic mode yet.
YEN Masters are just playing the game
Thought 103 to 105 range
It might take a bit longer to get there
EUR creeping up
could change a few things
  • #34,031
  • May 20, 2013 2:19pm May 20, 2013 2:19pm
IMO this situation will only shake out the weak players. In longer term I still look at 105 and maybe higher. It just depends on goals.
  • #34,032
  • May 20, 2013 2:21pm May 20, 2013 2:21pm
U.S. Faces Downgrade in 2013 Without Budget Deal, Moody’s Warns

http://www.bloomberg.com/news/2013-0...y-s-warns.html

The U.S. budget deficit will drop to $378 billion in 2015 from a record $1.4 trillion in 2009, according Congressional Budget Office data. The federal government will post an $642 billion deficit this year, the first time in five years that the shortfall has been less than $1 trillion. Moody’s said Sept. 11 that the U.S.’s top Aaa rating would likely be cut to Aa1 if an agreement on the debt ratio isn’t reached.
________________________________ Errare humanum est
  • #34,033
  • May 20, 2013 2:23pm May 20, 2013 2:23pm
Can anyone tell me what drives the price? Do retail traders have anything to do with it?
  • #34,034
  • May 20, 2013 2:26pm May 20, 2013 2:26pm
I don't think so.
  • #34,035
  • May 20, 2013 2:47pm May 20, 2013 2:47pm
Quoting Mozzy
{quote} You mean they have been 'importing' power? Is that through old school coal burning? From what you wrote is what I'm comprehending and that they'll begin generating their own power at a cheaper cost or more expensive? I wasn't aware they had shut down major nuclear plants. I guess they are still damaged from the Tsunami.
The disaster at the Fukushima (?) plant which created a nuclear contamination zone of 20km (?) radius and put loads of people out of their homes, if they were still standing, gave nuclear power a bad name in Japan. That coupled with the inability of the power generation company to admit that they had a serious problem, until it was an obvious problem including radioactive leak, caused the government (or generating companies) to proclaim that nuclear would be decommissioned gradually in favour of fossil fuel based energy production. This is another of the factors working to weaken the Yen, and a reason why the Japanese govt. does not want the Yen to weaken too quickly.

They may decide that, actually, they do like nuclear after all.....
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #34,036
  • May 20, 2013 7:14pm May 20, 2013 7:14pm
long 102.19
Be hopeful in a winning position, and fearful in a losing position.
  • #34,037
  • May 20, 2013 7:58pm May 20, 2013 7:58pm
If we're posting trades. I'll tell you I just closed out a Long I'd been holding since 100.35 a couple weeks ago @ 102.45 tonight, I was looking at a wave to hold above 102, but all this turmoil has just stalled it, I suspect any upside is going to be limited right now, time to stay out and see if it pulls back, or hits resistance first.
  • #34,038
  • May 20, 2013 8:04pm May 20, 2013 8:04pm
Quoting lolygagv2
If we're posting trades. I'll tell you I just closed out a Long I'd been holding since 100.35 a couple weeks ago @ 102.45 tonight, I was looking at a wave to hold above 102, but all this turmoil has just stalled it, I suspect any upside is going to be limited right now, time to stay out and see if it pulls back, or hits resistance first.
GBP jpy triple top ? or head and shoulder ?
shall it go down down down mister ?

  • #34,039
  • May 20, 2013 8:38pm May 20, 2013 8:38pm
Quoting BaraHabiba
{quote} GBP jpy triple top ? or head and shoulder ? shall it go down down down mister ?
Not sure about GBP JPY, because you have the potential for GBP to breakout vs USD, which could affect JPY. I actually have two automated systems that trade GBPJPY, so I can't venture beyond that.
  • #34,040
  • May 20, 2013 8:51pm May 20, 2013 8:51pm
102.8 defended ...
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manishsingh