USD/JPY Discussion

Yes, and 100 pips later!

dont get too comfortable with these shorts... i would look for decent exits and lock up those gains, the reversal will be violent and wont give you time to blink (when it happens)

Gidday Traders

Yeah thought the YEN masters would be looking to
pump the market back up an do it again

had to happen at some sooner or later

Have to give it to YEN masters

Man they must be rolling around laughing there asses off

They must draw straws,who turn is it to pull the chain.

Not sure what will happen now

do you think it is the end of weakening of jpy?

It could be, but with holiday weekend in US I will stay out and take a fresh look next Tues.

Same for me. Will check CDGO, maby for small scalp. Bring my Long on 101,58 on Break even and then will start the weekend with a great german beer

Edit: Or two

15 pips in one minute, nice start to the weekend

A flag formed , target 103.2, agree?

Hello

US/JPY everyone talking down to 100 level
got a couple of shorts in.

See what happens tonight

i expect today to be a fairly slow day because the US markets are closed... i expect a small bounce in this pair before the carnage starts again later this week... the bounce would be a good place to unload any longs you may be holding on to, as well as re-enter if you missed the short bus... dont expect it to go too far up past the 101.4/101.6 levels...
on the downside, 100 is the obvious target, but i think it would go lower than that, watch to see if it breaks through 99.3, if so, we may be headed much lower...

japan index down big again today... sign of risk off across all crosses and equity markets?

Agree, except that the red down-trend line needs to be broken first.
Price could drop below 100 before that happens.

But it seem that it doesn't "like" the down red trend line

There is no real compition today on market.

Only London and Asia are trading.

I googled compition and used google translator. It doesn't exist, what is it?

haha, i mean competition .

Sorry for my bad english i am from germany

Yes. But whats a 'Flag'?

Are there any trades for today, despite the US bank holiday? any tips guys.....

you got one vouch and you don't know what a flag is??

Yeah, going sideways today. London closed, US closed; suggest you treat the last half of today like it was Sunday afternoon and see what happens tomorrow.

Hello all,
an updated view on the Dollar Index. The current price dynamics is very important as price could repeat last year's move (now, repeats in history are very rare, but that could still happen). Let me show you what I mean:

The 84.70 area is the first target of the 81.40 area of support that found participation at the beginning of May (corresponding to Euro’s lower low at 1.3240). The 84.70 area lines up with previous highs in the Dollar Index which could suggest profit taking from those levels. If history repeats (it rarely does though) we could see something similar to what happen last year in the Dollar Index.

Attached Image (click to enlarge)
http://www.forexfactory.com/attachment.php?attachmentid=1201482&stc=1&thumb=1&d=1369689939

The above picture shows the two current scenarios I could anticipate:

Scenario 1. Price could continue lower into the 83 area of support and then violently bounce higher into the 84.70 area of 1st target of the 81.40 long entry area. Then price could fail the next traditional measured move higher and start a series of lower lows and lower highs.

Scenario 2. After trading the 83 area, price could continues above the previous 84.70 profit level into the 85.30 area, 1st target of the 83 area long setup. If that happens profit taking could be seen at those levels (and we would deal with that at the proper time).

On my blog you can find the video explaining the scenarios I have just provided above: http://elitefive.wordpress.com/2013/...lish-language/

Let me know what you think.
Cheers

-fibstalker