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USD/JPY Discussion

  • #34,581
  • Jun 11, 2013 3:41am Jun 11, 2013 3:41am
Quoting iahmedz
This time if it fell again... what would b lowest point?

entirely possible to take out last weeks lows and fall lower.... MS has a price target of 93, i think that its entirely possible for us to see those levels, and maybe even overshoot a little... but it depends on how long you wanna hold it... bias is definitely to the downside for now...

that formation you see on the daily charts of friday is being called a bullish hammer by many people... infact that is a wrong label... its called a bearish on neck... which is a bearish continuation pattern...
90% of people, are wrong about 90% of everything, 90% of the time...
  • #34,582
  • Jun 11, 2013 4:05am Jun 11, 2013 4:05am
and down it goes
  • #34,583
  • Jun 11, 2013 4:11am Jun 11, 2013 4:11am
good time for new long tp 98.30
  • #34,584
  • Jun 11, 2013 4:23am Jun 11, 2013 4:23am
Quoting theDHT
{quote} entirely possible to take out last weeks lows and fall lower.... MS has a price target of 93, i think that its entirely possible for us to see those levels, and maybe even overshoot a little... but it depends on how long you wanna hold it... bias is definitely to the downside for now... that formation you see on the daily charts of friday is being called a bullish hammer by many people... infact that is a wrong label... its called a bearish on neck... which is a bearish continuation pattern...
Thank you. My stop loss is 96, now I should worry for this
  • #34,585
  • Jun 11, 2013 4:35am Jun 11, 2013 4:35am
Quoting theDHT
{quote} entirely possible to take out last weeks lows and fall lower.... MS has a price target of 93, i think that its entirely possible for us to see those levels, and maybe even overshoot a little... but it depends on how long you wanna hold it... bias is definitely to the downside for now... that formation you see on the daily charts of friday is being called a bullish hammer by many people... infact that is a wrong label... its called a bearish on neck... which is a bearish continuation pattern...
Agreed, in fact I can't see any kind of hammer on the daily.
If price does not bounce at 97 (about now) then anything down to 92 is possible.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #34,586
  • Jun 11, 2013 4:36am Jun 11, 2013 4:36am
Quoting sandycarrot
for small amount and scalp = short UJ ? or not yet ?
very nice and very interesting UJ !!
if there is something you should keep secret,simply just save it,, so, just
  • #34,587
  • Jun 11, 2013 4:41am Jun 11, 2013 4:41am
97 gone....now what is the next target
  • #34,588
  • Jun 11, 2013 4:48am Jun 11, 2013 4:48am
Quoting Exodus
{quote} Agreed, in fact I can't see any kind of hammer on the daily. If price does not bounce at 97 (about now) then anything down to 92 is possible.

the only thing thats pissing me off... is that these moves are so sharp, its not giving me a decent level to add to my short book!
shoulda done it yesterday... shouldacouldawoulda...
90% of people, are wrong about 90% of everything, 90% of the time...
  • #34,589
  • Jun 11, 2013 5:13am Jun 11, 2013 5:13am
Quoting theDHT
{quote} the only thing thats pissing me off... is that these moves are so sharp, its not giving me a decent level to add to my short book! shoulda done it yesterday... shouldacouldawoulda...

me too
  • #34,590
  • Jun 11, 2013 5:15am Jun 11, 2013 5:15am
No long expect u want to lose money or u use the 15mins chart. Next target 93.81- 94.39
  • #34,591
  • Jun 11, 2013 9:01am Jun 11, 2013 9:01am
Quoting theDHT
{quote} entirely possible to take out last weeks lows and fall lower.... MS has a price target of 93, i think that its entirely possible for us to see those levels, and maybe even overshoot a little... but it depends on how long you wanna hold it... bias is definitely to the downside for now... that formation you see on the daily charts of friday is being called a bullish hammer by many people... infact that is a wrong label... its called a bearish on neck... which is a bearish continuation pattern...

Anything is possible here. I thought I was stuck with my short at 97.93 on 0.5 lots. Only to open my platform now to see every trader's delight. As a matter of fact, I've placed my buy limit at 95, hoping to adjust down to 93 if need be. With the target of 103 in few weeks time.
  • #34,592
  • Jun 11, 2013 12:18pm Jun 11, 2013 12:18pm
Top Trade Idea for June 11th, 2013 – USD/JPY "It's A Tough Call"
By Brenda Kelly of IG Markets

We’re all very aware of the normally undeniable effects of gravity: ‘what goes up must come down’; ‘all good things come to an end’ and so forth. The correction in the USDJPY trade like most corrections, was quick and unnerving, and for many came as a surprise. Topping out at 103.75 towards the end of last month, the yen had weakened by 30% since mid-November owing to both anticipation and confirmation of aggressive monetary policy from the Bank of Japan.
A move of such excess cannot be without a correction and we are now entering the fourth week where the yen has gained against the dollar.
For full articles and specific trade idea go here.
  • #34,593
  • Jun 11, 2013 12:41pm Jun 11, 2013 12:41pm
fell again
  • #34,594
  • Jun 11, 2013 12:44pm Jun 11, 2013 12:44pm
I took short 96.7. I set stop loss on break even point now. What should be exit point?
  • #34,595
  • Jun 11, 2013 1:04pm Jun 11, 2013 1:04pm
There is something bizarre about this pair. Can someone explain to me why the movement of this pair is so aggressive?
  • #34,596
  • Jun 11, 2013 1:07pm Jun 11, 2013 1:07pm
@TheLimerickKing7m

I'm glad that I'm not shorting Yen, Can I get a raucous Amen!?, We followed a clown, It's all going down, As smart money's now shorting Ben

90% of people, are wrong about 90% of everything, 90% of the time...
  • #34,597
  • Jun 11, 2013 1:08pm Jun 11, 2013 1:08pm
Quoting meritocrat
{quote} Anything is possible here. I thought I was stuck with my short at 97.93 on 0.5 lots. Only to open my platform now to see every trader's delight. As a matter of fact, I've placed my buy limit at 95, hoping to adjust down to 93 if need be. With the target of 103 in few weeks time.

Buy limit adjusted down to 93. The bears are just too aggressive.
  • #34,598
  • Jun 11, 2013 1:09pm Jun 11, 2013 1:09pm
Quoting iahmedz
I took short 96.7. I set stop loss on break even point now. What should be exit point?

It is really hard to pinpoint an exit point with this pair the way it is moving, I would keep moving my stop in order to lock in as much profit as you can. Remember a win is a win !!
  • #34,599
  • Jun 11, 2013 1:24pm Jun 11, 2013 1:24pm
Am getting analysis right but am failing to get in
  • #34,600
  • Jun 11, 2013 4:28pm Jun 11, 2013 4:28pm
Hello YEN masters

I see many posts about we are going to hell

Got shorts set 94.7 sort of were it bounced last week
bang it went up 2 cents

Thought they wanted a weak YEN

what do the punters think
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