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USD/JPY Discussion

  • #36,521
  • Aug 29, 2013 8:15am Aug 29, 2013 8:15am
Quoting Jgcole83
{quote} Its not going to 96. Not unless some unforeseen catastrophe takes place.
Watch out buddy. Could be HS. Tomorrow is last day of the month so anything can happen.
In the middle of the night (GMT+1) fist dump with japan crap and in the afternoon US data show big disapointment...

Take care you all!
  • #36,522
  • Aug 29, 2013 8:23am Aug 29, 2013 8:23am
Quoting Jgcole83
{quote} Its not going to 96. Not unless some unforeseen catastrophe takes place.
JQ,just like what Slovenia just told you.Anything can happen.keep an open mind though as the EWP also supports that move.See you soon!
Attached Image (click to enlarge)
Click to Enlarge Name: uj 9.jpg Size: 57 KB
Price,Precision,Psychic,Pyschology ,Patience and Pr.Karie's 6Ps of trading.
  • #36,523
  • Aug 29, 2013 8:48am Aug 29, 2013 8:48am
long from 98.175
will stack if 98.5x is broken
  • #36,524
  • Aug 29, 2013 8:53am Aug 29, 2013 8:53am
Quoting openyoureyes
long from 98.175 will stack if 98.5x is broken
Exactly! If we hold 98.50 Ill be upping my leverage as well.
"A true speculator tries the market small." - Jesse Livermore
  • #36,525
  • Aug 29, 2013 8:59am Aug 29, 2013 8:59am
Quoting Jgcole83
{quote} Exactly! If we hold 98.50 Ill be upping my leverage as well.
buyers @ 98.20-98.15
probably moving to 98.5x next

edit: very similar chart to current USD/JPY
no news + tomorrow is the last day of month
this could go north until tomorrow london close maybe
Attached Image
  • #36,526
  • Aug 29, 2013 12:46pm Aug 29, 2013 12:46pm
Quoting openyoureyes
{quote} buyers @ 98.20-98.15 probably moving to 98.5x next edit: very similar chart to current USD/JPY no news + tomorrow is the last day of month this could go north until tomorrow london close maybe {image}

Couldn't agree more! looks like we are headed back to that 98.20 level then gonna retry that 98.50 again. I think 98.50 will take a few more attempts to break through though. What about you?
“The chicken is only an egg’s way for making another egg.” R. Dawkins
  • #36,527
  • Aug 29, 2013 12:57pm Aug 29, 2013 12:57pm
Quoting Jason1551
{quote} Couldn't agree more! looks like we are headed back to that 98.20 level then gonna retry that 98.50 again. I think 98.50 will take a few more attempts to break through though. What about you?
I think you should have faded the retest of 98.50... I see the rate going back down to 97!
  • #36,528
  • Aug 29, 2013 1:06pm Aug 29, 2013 1:06pm
Quoting randerson
{quote} I think you should have faded the retest of 98.50... I see the rate going back down to 97!

Hmmm...agree with u...thinking it will broke thru 98.0 and reverse bull bck to north~
  • #36,529
  • Aug 29, 2013 1:41pm Aug 29, 2013 1:41pm
Quoting randerson
{quote} I think you should have faded the retest of 98.50... I see the rate going back down to 97!

Why 97.00? I'm looking at the 4hr. ADX, RSI, and Stochastic all point towards continued upward movement for now.


Edit: I'm long at 97.52 don't see much reason to sell unless my SL gets hit which is far above break even.
“The chicken is only an egg’s way for making another egg.” R. Dawkins
  • #36,530
  • Aug 29, 2013 1:43pm Aug 29, 2013 1:43pm
Quoting Jason1551
{quote} Why 97.00? I'm looking at the 4hr. ADX, RSI, and Stochastic all point towards continued upward movement for now. Edit: I'm long at 97.52 don't see much reason to sell unless my SL gets hit which is far above break even.
Just following price action... I don't think the triangle is ready to break just yet. And if it does, I think it'll be to the downside as a bear trap before shooting back above 100.
  • #36,531
  • Aug 29, 2013 1:47pm Aug 29, 2013 1:47pm
Quoting Jason1551
{quote} Why 97.00? I'm looking at the 4hr. ADX, RSI, and Stochastic all point towards continued upward movement for now. Edit: I'm long at 97.52 don't see much reason to sell unless my SL gets hit which is far above break even.
Leave alone indicators, check H4 candles + it's friday, end of August. Anything can happen.
  • #36,532
  • Aug 29, 2013 1:49pm Aug 29, 2013 1:49pm
Quoting Xeet
{quote} Leave alone indicators, check H4 candles + it's friday, end of August. Anything can happen.

I like indicators, they work for me. I understand all the craziness that can happen that's why I have a tight SL.
“The chicken is only an egg’s way for making another egg.” R. Dawkins
  • #36,533
  • Aug 29, 2013 2:05pm Aug 29, 2013 2:05pm
Quoting Jason1551
{quote} I like indicators, they work for me. I understand all the craziness that can happen that's why I have a tight SL.
My friend,please pay more attention to the candles and PA.Though t is true that when all of your indicators point in the same direction that your prediction about price will be more often than correct,however,it is important to know that the indicators in question are all laggards and are subjected to what ever price is doing at the moment.trying to trade without indies keeps 2 or more steps ahead of indicator traders.learn to use trend lines to your advantage.Take care bro
Price,Precision,Psychic,Pyschology ,Patience and Pr.Karie's 6Ps of trading.
  • #36,534
  • Aug 29, 2013 2:35pm Aug 29, 2013 2:35pm
Quoting karie pips
{quote} My friend,please pay more attention to the candles and PA.Though t is true that when all of your indicators point in the same direction that your prediction about price will be more often than correct,however,it is important to know that the indicators in question are all laggards and are subjected to what ever price is doing at the moment.trying to trade without indies keeps 2 or more steps ahead of indicator traders.learn to use trend lines to your advantage.Take care bro

Yes, I use them both and if this next candle on the 4hr closes as bearish engulfing then I will exit my long position on the trade. Green Pips to ya!
“The chicken is only an egg’s way for making another egg.” R. Dawkins
  • #36,535
  • Aug 29, 2013 2:41pm Aug 29, 2013 2:41pm
Hello YEN masters

Thanks for posting info on this pair

Thought we would see 97

an thought EUR/YEN at least 129

Just doing small trades in case it decides

to retrace.

End off week etc
  • #36,536
  • Aug 29, 2013 5:18pm Aug 29, 2013 5:18pm
Quoting Jason1551
{quote} Couldn't agree more! looks like we are headed back to that 98.20 level then gonna retry that 98.50 again. I think 98.50 will take a few more attempts to break through though. What about you?
I will wait until monday,
tracking X/JPY, if it moves with momentum alltogether => quick 8-10 TP x 5 (A/J N/J E/J U/J C/J)

I'll try multiple times, small lots

labor weekend / holiday for US, so no one will be trading this friday I guess
+
last trading day of august

makes things pretty unpredictable (good for scalp if you have no active trades)
  • #36,537
  • Aug 29, 2013 10:33pm Aug 29, 2013 10:33pm
UJ chart shows strength in 1h in 4h tfs. Also low volume downbars. We have 100EMA and 200EMA on 4H close together around 97.95/98.00.
Those 2 should be broken if we want to go south but so far we must not forget that USDX broke the bearish trendline on daily too...
Daily pivot is at 98.09 so we have tight range to watch out.
  • #36,538
  • Aug 30, 2013 12:06am Aug 30, 2013 12:06am
right now USD/JPY continues to consolidate below 200SMA on 4 hour after repeated attempts to break thru buyers continue to fail. Lets see what happens the longer this stays below 98.5 the more bearish I get Karie pips had a beautiful chart on why the risk is more down technically and if war does happen we can see serious safe haven demand and JPY appreciation Lets see what happens
  • #36,539
  • Aug 30, 2013 12:13am Aug 30, 2013 12:13am
Quoting iNSIELD
right now USD/JPY continues to consolidate below 200SMA on 4 hour after repeated attempts to break thru buyers continue to fail. Lets see what happens the longer this stays below 98.5 the more bearish I get Karie pips had a beautiful chart on why the risk is more down technically and if war does happen we can see serious safe haven demand and JPY appreciation Lets see what happens
You're right. Now its becoming more and more confusing. 8H looks undecesive but daily looks very very bulish.
For me below 98 i will be shorting till at least 97 and above 98.5 will heavily load the long positions till first TP 99.04 and then (depends on PA) 99.45.
We have several upthrusts in lower TFs in 98.20/45 area. Could be supply drying. USDX sentiment is in favor of the bulls too.
Chart shows 30min tf low volume up bars...could be a sign of weakness...
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  • #36,540
  • Aug 30, 2013 12:25am Aug 30, 2013 12:25am
Quoting sLOVEnia
{quote} You're right. Now its becoming more and more confusing. 8H looks undecesive but daily looks very very bulish. For me below 98 i will be shorting till at least 97 and above 98.5 will heavily load the long positions till first TP 99.04 and then (depends on PA) 99.45. We have several upthrusts in lower TFs in 98.20/45 area. Could be supply drying. USDX sentiment is in favor of the bulls too. Chart shows 30min tf low volume up bars...could be a sign of weakness... {image}

What do you think about the Head and shoulders pattern developing on the 4hr?
“The chicken is only an egg’s way for making another egg.” R. Dawkins
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