USD/JPY Discussion

at what price you took short?

did you get any analysis ?

Gidday

Any ideas on the YEN

PING PONG all day long

I need a good spike to clear out some trades

Me too. I have one buy position open near 99

Attached Image (click to enlarge)

-Daily Usdjpy chart show braking of the up trendline, getting back to it "testing" at 99.27 and didn't continue the uptrend, we might see a strong down waves soon.

Attached Image (click to enlarge)

-Here we can see the hourly chart, with the price exactly at the pivot point "96.87".


The Price may brake up that pivot point to the next R1 point at "98.16" then we see from there what will happen!

*I'm shorting usdjpy since price was at 98.6
Will never close it now or anytime soon, cause i think it will go short, will only change the SL..

a glance at the monthly price charts reveals a potentially super bearish picture of where this pair is headed.... one could argue, that we are at the turning point of a retracement, which would carry the yen to previously unheard of levels... we may not be seeing the 103 levels for a very very long time...

this assessment is also valid on EJ and GJ

as always, do your own research and think through your trades... be honest with yourself about how strong a stomach you have, and then execute...

everything else is doomed to failure

Hello DHT

Yeah been out played this round
I will hang on with a bit hedging
slow down do small trades
an build some capital to see me through

Thought they would crank up the printing machine an give it heaps

I been trading this US/JPY from the bottom all the way up.
Enter a long an wait,clip the ticket
Think my lucky charm with the YEN pairs have stalled

Are you thinking YEN trading below 94.7 etc

I thought some of the bigger fund managers are holding longs waiting for this sucker crawl back up were it belongs
103 to 105

Never mind I have just given my self another good up the ass for being way to greedy

Hi eliteincome
I sold off the remaining shorts I had on this pair, as well as EJ and GJ yesterday, close to the lows of the day yesterday... as mentioned earlier, i got short UJ initially at 102.4 and then added at 103.2 and 102.8 or thereabouts... and I banked about 400 pips average on EJ and GJ on multi lot exposures... the gods have been kind this month!

I think there are a couple of possibilities for now, one is that we make a move all the way down to 93 and then keep going...
The other is that we make a move down to 93 and bounce... up towards the 110 levels...
In essence, i am looking for a resumption of down moves, in the short/intermediate term... the c95 level is the critical one to watch here...
Also noteworthy is the fact that yesterdays low, was a 78.6% retrace of the swing from friday low to monday high... which implies an upside target of around the 127% extension on fibs... so in the immediate term, i am looking for a small bounce, up to the c98 level or higher... at which level i might add back to my short book... its important to keep in mind, that if this move plays out, a lot of folks are gonna be screaming bulls again (higher low, higher high etc), but chances are that they will get slaughtered again... always important to keep the bigger picture in mind i think...
as for the longer time frame trend... we are def bearish on weekly and daily... but the monthly is too early to call at this point... will have to wait and see... im not in any rush to jump back in...


the way i am playing yens right now is through EJ, where I have a small hedged position of 2 lots... same playbook

best of luck to everyone out there!

whenever I short it goes up, I long it goes down.. History
So guys, don't worry I short now at 96.468, It will go up

IMHO the long term situation changed with Abenomics. So long as the Japanese govt. really wants to raise inflation then there will have to be weakening of the Yen long term. In order to build inflation the Japs have to persuade their population to start spending today instead of waiting for next month when what they want might be cheaper, and what they want has therefore got to start becoming more expensive next month than it is today. It also depends upon whether their over-inflated asset prices have finally pared-back near to real values, after 25 years one might think that they have.

Watch for any statements about nuclear power going back into public favour because that will reduce demand for fossil fuels in Japan and make things more difficult for the govt.

So my view is that UJ entered into a consolidation or distribution phase after it broke 100. The top appears to be stamped at ~103.50, and at the moment 96.0 is holding. We need another test of 100 to show the validity of my summation.

...my long order at 95.0 failed to engage overnight.

:-) ive been there too... Extend your time horizon and do your homework, and all should be as it should be...

i went long 96.5 (target 97.4) next time you know what to do

95 area really putting up a fight

lol...spoke too soon

but failed...

US Dollar is weekening...... too much. drop will continue till we see stable US Dollar. :/

This is frustrating. I have long as high as 97.00. I hope it will at least retrace half of the current DT.

Only way up is to wait for BOJ intervention...(if any)

woooh! 94.1x already! 93.4x to watch! I happy I did not entered. My hand was insisting to click long @95.x but now I will stay aside. JPY again confirmed I have plenty of things to learn about this carp!