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USD/JPY Discussion

  • #34,801
  • Jun 20, 2013 4:11am Jun 20, 2013 4:11am
Nikkei closed slightly above 13k, futures at 13,175 now. I guess 13k is well defended for now which is bullish for UJ. Maybe it's not a bull trap after all, although everything could change direction in a few minutes. For me, buying on deeps is the name of the game unless I see UJ under 95 or Nikkei under 13k again.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #34,802
  • Jun 20, 2013 4:12am Jun 20, 2013 4:12am
Quoting theDHT
{quote} sit tight... yens are moving in isolation, either the equity markets need to confirm this up move, or then yens need to confirm the equity markets down move..., this is the definition of a bull trap: when EVERYONE thinks its gonna head up, and it takes a little convincing for the recent bears to change their mind... we stay flexible ofcourse, wait for confirmations before committing capital...

so looks like this needs to break 98.75 and hold before you turn bullish?

BOJ guy speaking tomorrow...he has been dropping u/j everytime he open his mouth
  • #34,803
  • Jun 20, 2013 5:16am Jun 20, 2013 5:16am
Quoting Doboy408
{quote} so looks like this needs to break 98.75 and hold before you turn bullish? BOJ guy speaking tomorrow...he has been dropping u/j everytime he open his mouth

for starters, i would be looking for a clean break past the 99.26 line
i would also like to see us get past our critical fib levels AND build real momentum at the same time (none of this BoJ levitation crap!)
also, i would like the bearish momentum divergence on the weeklys to start confirming the up move...

the laundry list is pretty long

not saying we cant get there... but Im not sure if now is the time... too much weakness on fundamental news recently (fed tapering/bernanke leaving/abe misfiring etc)

maybe later this year...

my overall thesis for this year is long yen pairs and short ozzies... this correction should be meaningful to give this bull run some real legs to start going again... (in a perfect world that is!)

good luck trading
90% of people, are wrong about 90% of everything, 90% of the time...
  • #34,804
  • Jun 20, 2013 6:11am Jun 20, 2013 6:11am
Quoting theDHT
{quote} i have similar views on all yen pairs... im not convinced of this up move (yet) disclaimer: i am not a day trader or scalper {image}
Jesus Christ how can anyone still think this is a bull trap? Have you seen the other currency pairs? Auzzie, euro, they are all dropping like rocks. Stop resisting the trend and ride along I've already cashed in over 400 pips on this I don't know why you don't do the same. Whatever guess some people just are too stubborn for their own good. Good luck with joining the trend when it's at the top.
  • #34,805
  • Jun 20, 2013 7:40am Jun 20, 2013 7:40am
Quoting Dano12
-short short go go 97 55 - 97 20
NICE 97 55 nex target 96 98
  • #34,806
  • Jun 20, 2013 7:44am Jun 20, 2013 7:44am
Quoting Murdetrain
{quote} Jesus Christ how can anyone still think this is a bull trap? Have you seen the other currency pairs? Auzzie, euro, they are all dropping like rocks. Stop resisting the trend and ride along I've already cashed in over 400 pips on this I don't know why you don't do the same. Whatever guess some people just are too stubborn for their own good. Good luck with joining the trend when it's at the top.

Just trade what you see for that currency pair. I use to lose more money when I tried to cross correlate pairs! I trade what I see. Just my 2 cents!
Damn The Torpedoes, Full Speed Ahead!
  • #34,807
  • Jun 20, 2013 7:47am Jun 20, 2013 7:47am
Quoting DizzleFX
{quote} Just trade what you see for that currency pair. I use to lose more money when I tried to cross correlate pairs! I trade what I see. Just my 2 cents!
What I see is the same I see on all currency pairs, USD rising and as such I will ride the trend, it just confounds me why people try to wait for the perfect "Sell" when they can just buy usd and set their stop losses properly.... much less risk that way

Its already almost retraced all the drop it got from that bad data
  • #34,808
  • Edited 8:31am Jun 20, 2013 7:53am | Edited 8:31am
Quoting Murdetrain
{quote} What I see is the same I see on all currency pairs, USD rising and as such I will ride the trend, it just confounds me why people try to wait for the perfect "Sell" when they can just buy usd and set their stop losses properly.... much less risk that way Its already almost retraced all the drop it got from that bad data
Im done, most of the pairs I trade have hit thier ADR (for the broker I trade with). So I will take what I got for the day and ROLL OUT! Green Pips Murdetrain!
Damn The Torpedoes, Full Speed Ahead!
  • #34,809
  • Jun 20, 2013 8:27am Jun 20, 2013 8:27am
Quoting Murdetrain
{quote} Jesus Christ how can anyone still think this is a bull trap? Have you seen the other currency pairs? Auzzie, euro, they are all dropping like rocks. Stop resisting the trend and ride along I've already cashed in over 400 pips on this I don't know why you don't do the same. Whatever guess some people just are too stubborn for their own good. Good luck with joining the trend when it's at the top.
in that case friend, BTFD

honestly, i would love it if you bought every dip from here moving forward! you seem convinced!!

your dogma might make a believer out of me too!!

(anyone seen the punch bowl??)
90% of people, are wrong about 90% of everything, 90% of the time...
  • #34,810
  • Jun 20, 2013 8:29am Jun 20, 2013 8:29am
I'm expecting 96.00 level.
  • #34,811
  • Jun 20, 2013 8:49am Jun 20, 2013 8:49am
USD gain strength yesterday, EQ expect to slow down or in 2015 from beneke's chart. So weaker USD or stronger USD?

In medium term I expect it to head north, but with a small chance of having another drop to 95, or retest 93 then north.

In long term, to the moon.

In medium term and long term where do you guys see UJ going?
  • #34,812
  • Jun 20, 2013 8:49am Jun 20, 2013 8:49am
hmm 99
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  • #34,813
  • Jun 20, 2013 8:52am Jun 20, 2013 8:52am
Quoting Dano12
hmm 99 {image}
Damn The Torpedoes, Full Speed Ahead!
  • #34,814
  • Jun 20, 2013 9:02am Jun 20, 2013 9:02am
go go AMIGO
  • #34,815
  • Jun 20, 2013 9:26am Jun 20, 2013 9:26am
Can you be little more specific. What would be the resistance and support for Usd/Jpy and what is your perdition for next week.
  • #34,816
  • Jun 20, 2013 9:34am Jun 20, 2013 9:34am
not good grrr come on
  • #34,817
  • Jun 20, 2013 9:34am Jun 20, 2013 9:34am
false breakout wait for the close one hour
  • #34,818
  • Jun 20, 2013 9:40am Jun 20, 2013 9:40am
Thanks Dano12. Do you expected to go up. Exit the long trade now and then go for the short on Usd/Jpy.
  • #34,819
  • Jun 20, 2013 9:48am Jun 20, 2013 9:48am
BOJ Gov Kuroda Speaks ay 2:35 am est tomorrow, seems to me that would be the time to look for a trade in this pair if he hints hes going to kamikaze the JPY further or something like that..............................
  • #34,820
  • Jun 20, 2013 9:51am Jun 20, 2013 9:51am
Quoting Ageorge
Thanks Dano12. Do you expected to go up. Exit the long trade now and then go for the short on Usd/Jpy.
Watch SP500 1600 level

there is hope for TP 99
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