USD/JPY Discussion

I think it's a good time to enter long here ... but I'll just wait for ism data.
You guys agree?

99.425 entered long !

err I think I missed a nice opportunity ! lol

bahhhhhh. entered long @.61

risking 30 pips

Never buy on high, never sell on low if you took at so high daily value at least set up a longer time frame profit taking

I don't think I bought at a high price tbh. If we get good news today it might reach resistance to 100.20, but my tp is open.

Risking half of profit made overnight.

But I'm somewhat worried my 30 pip sl small and price may fluctuate + high spread

err is there anyway to get fast news releases?

Market has already reacted by the time I check the numbers, so there is no point!

Lol gonna get stopped out her


Seems good data though?

It's rubbish data.

Barely a point between them.

Hey guys, I'm watching the tick chart here for AUDJPY, at 95.00, there's some CRAZY algo business going on......I like saw an ask price below the bid (ie instant arbitrage) and suddenly the price just jumped up 10 pips. USDJPY also had a similar pattern, but as obvious. My broker is ECN, so I'm almost sure this will be seen on other brokers, in the market in general. I'd advise caution entering any new positions with this business going on, these may be long term buying hedge fund algos, or it might just be high frequency market makers going in and out a lot. If you're in a position, widen stops, if you're not.....I'd stay out.

http://www.forexfactory.com/attachme...3&d=1370344081

I have a short w/target at 98.4 area. way to risky to go long yet!!

http://www.zerohedge.com/news/2013-0...eddon-scenario

we are about 45 pips from being in serious trouble on this pair... couple that with extreme bullish sentiment on COT's from retail... I have been short since 102.4, though i booked some gains a short while ago...

downside targets are looking for c97... don't hold your breath for NFP data... everything you needed to know, you already know... all US indices are cracking critical support levels and making lower lows...

tbh, i think its excellent that we get a selloff on this pair, overall very healthy for the market and supportive of a 110 TP in 3Q13...

just don't get caught with your shorts down

wish everyone a very profitable day/week/month/year

So a stampede out of JGB should be Yen-bearish right?

Retested Lows But Still Indecisive

Good day to everyone, we have a follow up on the USDJPY 8 hour from Monday after the disappointing U.S. Manufacturing PMI. There was a run up after, if your refer back to that chart the support that turned into resistance failed technically. Over the past two days has done both of the expectations fail to resist to continue lower on the bearish breakout, as well as come back to retest the 70.7% Fibonacci retracement level today. Near the bottom of 98.852 we have a bullish engulfing candle that closed at 2 pm est. We do have some reversal sign apart from the Gartley Pattern with the candlesticks.

The strategy for trading the pattern remains the same with target 1 at 101.2 the 50% retracement from AD. Target 2 is 105 the 127.2% Fibonacci level, which is a real possibility if the Bank Of Japan turns the switch back on to satisfy Japanese investors that expected much more from the stimulus. Any 4 hour candle closed below the 98.990 price would be a break of the 70.7% Fibonacci level and a technical failure of the pattern. There is a triangle forming from the indecision in 1 hour/30 minute that should be monitored for signs of momentum in any direction. Going into the very much anticipated Non-Farm Employment on Friday that may disappoint, a risk free stop or trailing stop should be implemented to protected gains.

I know there is a lot of chatter on this thread so you guys can just click here and see Mondays post instead of going back and searching. http://www.stonecoldforex.com/chart-of-the-day/

Decided to try a wee bit of a long here. Working out so far
though it's a counter trend trade...... It'll be fun !!

double bottom and positive MACD divergence in 30mins chart. In 1HOUR chart double bottom and postive MACD and HISTOGRAM divergence.

Look promising but this pair is not reacting to it...

hold your breath