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USD/JPY Discussion

  • #34,681
  • Jun 18, 2013 1:38am Jun 18, 2013 1:38am
Quoting 1candlepower
{quote} .uj double bottom around 94 is probably it... i think japan is done shopping and they're ready to see that weak yen again. so, longs may soon be comfortably above water as we head back toward 103 --- no need for .uj to get jammed down again.
we've had a few large bear flags over the last week or so... the current .uj run-up does not fit the definition of a bear flag.
  • #34,682
  • Jun 18, 2013 1:44am Jun 18, 2013 1:44am
Quoting 1candlepower
{quote} we've had a few large bear flags over the last week or so... the current .uj run-up does not fit the definition of a bear flag.
.uj is stair-stepping now ... only does that when it's got somewhere to go (up in this case)
  • #34,683
  • Jun 18, 2013 1:48am Jun 18, 2013 1:48am
Gidday Candle

Been out played since it took a dive

been trading turtle mode

down but never out of the game

in this for the long term

so I can live with bit off pain.

There was a bit off talk later in the week,it might take another dive.

Thought we might see 93.5 etc

This why I hang out here,hopefully the wise owls know whats going on
  • #34,684
  • Jun 18, 2013 1:56am Jun 18, 2013 1:56am
Quoting eliteincome
Gidday Candle Been out played since it took a dive been trading turtle mode down but never out of the game in this for the long term so I can live with bit off pain. There was a bit off talk later in the week,it might take another dive. Thought we might see 93.5 etc This why I hang out here,hopefully the wise owls know whats going on
was kind of expecting to see 93.5 myself, but then we got the double bottom around 94 and there's been this talk about capex and industrial re-structuring lately, so thought that was some kind of signal to japanese business to spend the strengthened yen quickly and be ready for a return trip to 103
  • #34,685
  • Jun 18, 2013 2:53am Jun 18, 2013 2:53am
price floor installed now at 95.08 (R1)... next floor prob at 95.30 --- got a nicely defined rising channel too now
  • #34,686
  • Jun 18, 2013 2:58am Jun 18, 2013 2:58am
could be a nice turning point
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Come with me if you want to live....
  • #34,687
  • Jun 18, 2013 3:09am Jun 18, 2013 3:09am
i think tomorrow feds decision will definitely influence the long term direction of this pair

if they come out to say they wont taper QE any time soon then this pair will bounce back above 100, any indication of cutting QE will push it down further.

A cut back in QE will most likely weaken US equities and in effect the USD.

Im looking to long this pair for long term, let just hope it drops below 94 so I can buy in. Originally I was hoping around low 93 because thats where the 38% fib rectracement is but it doesnt look like it will get there now.
  • #34,688
  • Jun 18, 2013 4:05am Jun 18, 2013 4:05am
going to buy at 95.28 (assuming it pulls back) on expectation that price will take off straight up when 95.42 is broken (61.8 retrace of move from april 2 lo to april 11 hi) --- if it doesn't pull back, then will buy anyway on clean brk of 95.42
  • #34,689
  • Jun 18, 2013 5:20am Jun 18, 2013 5:20am
Quoting 1candlepower
going to buy at 95.28 (assuming it pulls back) on expectation that price will take off straight up when 95.42 is broken (61.8 retrace of move from april 2 lo to april 11 hi) --- if it doesn't pull back, then will buy anyway on clean brk of 95.42
pls fasten seatbelt...
  • #34,690
  • Jun 18, 2013 5:34am Jun 18, 2013 5:34am
Quoting 1candlepower
{quote} pls fasten seatbelt...
think sudden pullback was invitation for some shorts (who would like to give their money away) to come in
  • #34,691
  • Jun 18, 2013 5:38am Jun 18, 2013 5:38am
rsi divergence @m30 ?
  • #34,692
  • Jun 18, 2013 5:38am Jun 18, 2013 5:38am
Quoting 1candlepower
think sudden pullback was invitation for some shorts (who would like to give their money away) to come in

definitely not me !
How to Win at Sports Betting: DON'T DO IT!
  • #34,693
  • Jun 18, 2013 5:40am Jun 18, 2013 5:40am
Quoting 1candlepower
{quote} think sudden pullback was invitation for some shorts (who would like to give their money away) to come in

Not me! Currently selling some Yenjamins!
Damn The Torpedoes, Full Speed Ahead!
  • #34,694
  • Jun 18, 2013 5:42am Jun 18, 2013 5:42am
Quoting 1candlepower
{quote} think sudden pullback was invitation for some shorts (who would like to give their money away) to come in
thar she blows... clean b/o on upper side of channel from yesterday afternoon.
  • #34,695
  • Jun 18, 2013 6:00am Jun 18, 2013 6:00am
.uj looks to be following fibo system from march when .uj was last in this price range (defined by mar 5 lo and mar 12 hi). next res lvl from that system is 23.6 retrace at 95.81 (which is also last friday's hi)... might be good final TP for me (took half off at R2). --- would expect some consolidation there
  • #34,696
  • Jun 18, 2013 6:10am Jun 18, 2013 6:10am
Quoting 1candlepower
this is starting to look like another "the lid is off" moment... a G8 meeting, everyone agreeing that "Abenomics" is a great idea and .uj is starting another run-up. if it parallels the last 3 times, we're gonna be up 250 - 350 pips by noon tomorrow...
Well that is the first 100 pips. I shall wait for the down-bounce from 96 before supporting my existing long.
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  • #34,697
  • Jun 18, 2013 6:19am Jun 18, 2013 6:19am
Quoting Exodus
{quote} Well that is the first 100 pips. I shall wait for the down-bounce from 96 before supporting my existing long. http://assets.forexfactory.net/image...im/whew%21.gif
lol! yeah, maybe 250-350 is overly optimistic (the "lid is off" trade may be running out of steam ). i'm expecting bounce off 95.81 to re-load longs, but it did fall from 96 on thurs, so wait and see i guess
  • #34,698
  • Jun 18, 2013 6:27am Jun 18, 2013 6:27am
come on 50 % fibo 95 92 - 95
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  • #34,699
  • Jun 18, 2013 6:59am Jun 18, 2013 6:59am
.uj long reloaded at 50
  • #34,700
  • Jun 18, 2013 7:03am Jun 18, 2013 7:03am
Quoting 1candlepower
.uj long reloaded at 50
out at BE --- will wait for pullback to inner or lower tl (assuming it pulls back!)
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