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USD/JPY Discussion

  • #35,741
  • Aug 8, 2013 2:18pm Aug 8, 2013 2:18pm
Is it safe to enter into a long?
  • #35,742
  • Aug 8, 2013 3:54pm Aug 8, 2013 3:54pm
I have a down-channel with lower bound 96.65
I think it was just broken.
In which case I have 95 as the next test
I'm so sorry if I alienate some of you
  • #35,743
  • Aug 8, 2013 5:01pm Aug 8, 2013 5:01pm
Quoting iahmedz
Is it safe to enter into a long?
Sure ...Go ahead and go long here...Why not?
"A true speculator tries the market small." - Jesse Livermore
  • #35,744
  • Aug 8, 2013 6:03pm Aug 8, 2013 6:03pm
Quoting iahmedz
Is it safe to enter into a long?

it's poking his head above the down channel...might be good for a long here
  • #35,745
  • Aug 8, 2013 6:15pm Aug 8, 2013 6:15pm
Downtrend seems to be over in short term. Will look to buy dips. Hoping to go long 96-96.25 sometime in next hours, if can we retouch those levels tonight. Should have had a buy stop at 95.90
  • #35,746
  • Aug 8, 2013 7:41pm Aug 8, 2013 7:41pm
I think 97.15 is a good area to try short, with s/l at 97.75. and look down to 93.75 area.
  • #35,747
  • Aug 8, 2013 7:47pm Aug 8, 2013 7:47pm
Quoting Yuchen
I think 97.15 is a good area to try short, with s/l at 97.75. and look down to 93.75 area.
My thought is China Data will trigger the trend !!! either way !!
“Don't cry because it's over, smile because it happened.”
  • #35,748
  • Aug 8, 2013 8:08pm Aug 8, 2013 8:08pm
Quoting balanced2012
{quote} My thought is China Data will trigger the trend !!! either way !!
China data in about 20 mins.
Trade what you see, not what you think!
  • #35,749
  • Aug 8, 2013 8:09pm Aug 8, 2013 8:09pm
Bear signal again...... I closed my long luckily on 96.88
  • #35,750
  • Aug 8, 2013 8:11pm Aug 8, 2013 8:11pm
Added to my short position at 96.90 ish.... 95 - 94.50 here we come.
"A true speculator tries the market small." - Jesse Livermore
  • #35,751
  • Aug 9, 2013 3:07am Aug 9, 2013 3:07am
I'm long with Tp at 97.15. I'm thinking the price could go in the 97.15-60 zone before going down again
  • #35,752
  • Aug 9, 2013 3:24am Aug 9, 2013 3:24am
Quoting allex82
I'm long with Tp at 97.15. I'm thinking the price could go in the 97.15-60 zone before going down again

Agree. But it's so weak right now, hardly moving up when it does. I'd love to see 97.50 today.
  • #35,753
  • Aug 9, 2013 4:35am Aug 9, 2013 4:35am
Right now we are sitting on the historically important level of 96 - 97 which you can see if you check the daily charts of 2008 to 2009 - around there. I like to identify these levels and look at what the hourly did. Sometimes price action can narrow down these areas and give us some good trades.

This is a daily chart with a pretty good diamond formation. Is it a diamond reversal pattern or a continuation pattern? What I like about this is it sits on the 38% retracement of the 2007 - 2011 drop. Today we are trading off of yesterday's bullish candle which also sits on a 68% fib level (the diamond) which coincides with a March 2013 high of 96.70.

Oh, and hello daily 200sma very close by. Here is the chart:

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy130809d1.JPG Size: 97 KB
Gone to a better place
  • #35,754
  • Aug 9, 2013 4:45am Aug 9, 2013 4:45am
I have a short position .. I think it will go to .94... What u guys think about it?
  • #35,755
  • Aug 9, 2013 4:55am Aug 9, 2013 4:55am
Quoting habi222
I have a short position .. I think it will go to .94... What u guys think about it?

Habi, if you tell me why you think it will go to 94 and post a chart to back it up then I will offer you my opinion.
Gone to a better place
  • #35,756
  • Aug 9, 2013 5:11am Aug 9, 2013 5:11am
I have longed USD/JPY.

Below please find two attached charts.

I believe Nikkei has reached heavy support.

USDX near or at the support lines.

Hoping for at least some bounce.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 2013.08.09 Nikkei225.jpg Size: 174 KB
Click to Enlarge Name: 2013.08.09 USDX.jpg Size: 180 KB
Trololololo
  • #35,757
  • Aug 9, 2013 5:11am Aug 9, 2013 5:11am
if you all are shorting im definitely going long.
  • #35,758
  • Aug 9, 2013 5:40am Aug 9, 2013 5:40am
Quoting Ck87
{quote} Agree. But it's so weak right now, hardly moving up when it does. I'd love to see 97.50 today.
Agree. I was hoping for some profit taking today but until now it seems bear presure is still very strong. If Nikkey breaks critical suport i aspect another down sesion
  • #35,759
  • Aug 9, 2013 5:43am Aug 9, 2013 5:43am
If Nikkey really brakes that support line we will have a huge movement down.
Trololololo
  • #35,760
  • Aug 9, 2013 5:47am Aug 9, 2013 5:47am
Quoting Libertas_Ltu
I have longed USD/JPY. Below please find two attached charts. I believe Nikkei has reached heavy support. USDX near or at the support lines. Hoping for at least some bounce. {image} {image}

Thanks Libertas. I obviously freaked out Habi by asking a question but anyway, here's my short term view of the reverse head and shoulders and, if it plays out, the overhead resistance...

Attached Image (click to enlarge)
Click to Enlarge Name: freak out.JPG Size: 56 KB
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