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USD/JPY Discussion

  • #36,681
  • Sep 3, 2013 9:51am Sep 3, 2013 9:51am
Preliminary results:

http://ugeist.com/q/dnnLKA458y

Seems the majority shares the opinion: The YEN will collapse.

110-115 and 105-110 are the most bets for the YEN EOY 2013.
  • #36,682
  • Sep 3, 2013 10:22am Sep 3, 2013 10:22am
Short back to 99.00 seems like the easier trade to me right now
  • #36,683
  • Sep 3, 2013 10:24am Sep 3, 2013 10:24am
Quoting edindzeko
{quote} Do you have any correlation or history showing when China PMI is up USD PMI is up also? I know it sounds logical to me also, just curious. The forecast is to miss while China's was up.. soooo
They beat as I had expected this time. Not sure if those numbers can be believed but I was expecting such numbers to come out.
  • #36,684
  • Sep 3, 2013 10:29am Sep 3, 2013 10:29am
Quoting edindzeko
Short back to 99.00 seems like the easier trade to me right now
I would wait till about 100.35~100.50 before entering that short trade. Gold is just past $1400 & I reckon (though I could be wrong) that they will push it up to around $1400 this week before the attack on Syria takes place.
  • #36,685
  • Sep 3, 2013 10:31am Sep 3, 2013 10:31am
Quoting Abegeddon
Preliminary results: http://ugeist.com/q/dnnLKA458y Seems the majority shares the opinion: The YEN will collapse. 110-115 and 105-110 are the most bets for the YEN EOY 2013.
looks like a spam or Malware link.
  • #36,686
  • Sep 3, 2013 11:12am Sep 3, 2013 11:12am
Nice. 4H looks nasty. Daily will probably close with a huge upthrust. That brings one comment of one "important" man about the war.
  • #36,687
  • Sep 3, 2013 11:51am Sep 3, 2013 11:51am
DOwn the UJ Shall go. .. .. did some researching and digging and comparing learning. could be wrong but being wrong would mean opportunity to learn which i welcome with open arms
  • #36,688
  • Sep 3, 2013 12:08pm Sep 3, 2013 12:08pm
my view
Attached Image (click to enlarge)
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In trading, you have to be defensive and aggressive at the same time
  • #36,689
  • Sep 3, 2013 12:17pm Sep 3, 2013 12:17pm
great view point. Similar plan i have myself but more through the fundamental approach.

Quoting Davit
my view {image}
  • #36,690
  • Sep 3, 2013 1:45pm Sep 3, 2013 1:45pm
I don't think we'll go to 96, but I do think a pull back to 98.50 is possible.
"A true speculator tries the market small." - Jesse Livermore
  • #36,691
  • Sep 3, 2013 2:19pm Sep 3, 2013 2:19pm
Two strong up-side rejections today. I see some downside before we pass 100.

Looking at 99, 98.8, 98.5, and 98.2 as levels to watch for to continue back upward.
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"If you won't risk the usual, you'll have to settle for the ordinary."
  • #36,692
  • Sep 3, 2013 3:03pm Sep 3, 2013 3:03pm
Right now the USDJPY is trying to retest the resistance area of 99.60 and if it breaks through and the 4hr or daily candle closes above that point and into 100.00, then its bullish from there. Given the fundamentals, positive ISM Manufacturing for USD this morning which was above expected and through technical analysis, this pair is bullish. I agree with you that it may visit those support areas again, but if the price continues to break through and close above the major resistance, theres going to be an upside for this pair.
  • #36,693
  • Sep 3, 2013 3:57pm Sep 3, 2013 3:57pm
Imo the wall that is 99.7-100 is well established. It would take a lot more then a good ism print to knock it down. Friday NFP is something that can do it if price hang around the area til friday.
  • #36,694
  • Sep 3, 2013 4:50pm Sep 3, 2013 4:50pm
Quoting suncomfx
Right now the USDJPY is trying to retest the resistance area of 99.60 and if it breaks through and the 4hr or daily candle closes above that point and into 100.00, then its bullish from there. Given the fundamentals, positive ISM Manufacturing for USD this morning which was above expected and through technical analysis, this pair is bullish. I agree with you that it may visit those support areas again, but if the price continues to break through and close above the major resistance, theres going to be an upside for this pair.
I agree. The path of least resistance is up.
I have no clue what I'm talking about.
  • #36,695
  • Sep 3, 2013 8:46pm Sep 3, 2013 8:46pm
Quoting Doboy408
Imo the wall that is 99.7-100 is well established. It would take a lot more then a good ism print to knock it down. Friday NFP is something that can do it if price hang around the area til friday.
Agree. Tomorrow will be a MPS and Boj press conference. That event will put the direction. From fundamental part there are mixed thoughts. On one way japs said that theit economy is improving but they will have to raise taxes...if the story about taxes will become true then UJ will jump to 102 or even 105-107. just imho.
  • #36,696
  • Sep 3, 2013 8:55pm Sep 3, 2013 8:55pm
usd/jpy intraday analysis sell@ 99.60, sl @ 101.00, tp @ 97.00, estimated time = less than one week

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  • #36,697
  • Sep 3, 2013 9:19pm Sep 3, 2013 9:19pm
This pair is a mess, but with patience you always end up getting the better of it. Keep at it everyone.
  • #36,698
  • Sep 3, 2013 9:43pm Sep 3, 2013 9:43pm
Did anyone else notice that the pattern looks like a tilted diamond pattern? I'd be careful to buy U/J as I've seen many fake brake out with that pattern.. I am currently S with a TP ~93 (.31 fib from PY low to CY high) that may be modified due to upcoming events (mainly BOJ, Fed & Syria) & price action (failure to break uptrend support) - timeframe ~ end of September '13

Attached Image (click to enlarge)
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Edit: Did not open a core position yet given that some respect needs to be given to the breakout - I'd rather wait for a close below uptrend resistance
  • #36,699
  • Sep 3, 2013 11:24pm Sep 3, 2013 11:24pm
Hello YEN Masters

Bit off profit taking going

Hey getting close now, 100 mark

Things are starting to get interesting
  • #36,700
  • Sep 4, 2013 12:56am Sep 4, 2013 12:56am
Quoting amianalyst
usd/jpy intraday analysis sell@ 99.60, sl @ 101.00, tp @ 97.00, estimated time = less than one week {image}
I give you for a beer if your setup plays out in one week till 97. And your SL range is really funny... 140pips...
Could be but worth of a beer.
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