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USD/JPY Discussion

  • #37,561
  • Oct 1, 2013 2:22am Oct 1, 2013 2:22am
Quoting iahmedz
{quote} On long term it is always bullish. Right now g bpuad is going up so dollar should go against GBP that is why traders are going short for this pair


When you say long term can you give a time frame for it?

gbpaud isn't going up it's going down.
  • #37,562
  • Oct 1, 2013 3:14am Oct 1, 2013 3:14am
we must see another up swing.
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  • #37,563
  • Oct 1, 2013 3:15am Oct 1, 2013 3:15am
Quoting Angelina
{quote} took half profit and moved SL at BE. 97.50 will be next weak support ;D good luck guys!
There is a good chance of a bounce to 99.50. There is also a possibility that PA will follow the lower Bollinger band (12hr) before that bounce. I have long entry order @ 97.50.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #37,564
  • Oct 1, 2013 3:16am Oct 1, 2013 3:16am
Quoting krunfx
stocks will tumble
Probably not.
I have no clue what I'm talking about.
  • #37,565
  • Oct 1, 2013 3:27am Oct 1, 2013 3:27am
Quoting Boy Wonder
{quote} Probably not.
Agreed. EZ stocks are up, UK stocks are flat, my portfolio is up a little. ?? Banks doing surprisingly well ATM.
If this stoppage lasts more than a day the effect on US GDP will be negative and hold unemployment up.
...in which case more QE and all the benefits that go with that!
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #37,566
  • Oct 1, 2013 3:29am Oct 1, 2013 3:29am
Reverse of EU
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  • #37,567
  • Oct 1, 2013 3:34am Oct 1, 2013 3:34am
Quoting Boy Wonder
{quote} Probably not.
ok let see
Bismillah
  • #37,568
  • Oct 1, 2013 3:48am Oct 1, 2013 3:48am
*prays to the god of forex* Ohhh gaaa shaaaa haaaa oooooohh gaaa oooooooh gaaaaaaaaaa let it rise! Let it rise!
  • #37,569
  • Oct 1, 2013 4:20am Oct 1, 2013 4:20am
look out 97.5!!!

drop below that and it could be another 100 pips down
  • #37,570
  • Oct 1, 2013 4:26am Oct 1, 2013 4:26am
getting dumped. usd is in the dogs, but JPY is pretty bad too so should limit its downside.
  • #37,571
  • Oct 1, 2013 4:31am Oct 1, 2013 4:31am
Quoting forex_fairy
{quote} When you say long term can you give a time frame for it? gbpaud isn't going up it's going down.
see monthly chart of USDJPY and you will see just 3 three years when USDJPY is below 100 till 1991. Below 100 is against Japanese exports... So, you can easily understand Japan always wanted USDJPY above 100. So, in long term it is always bullish whenever you see it below 100.
  • #37,572
  • Oct 1, 2013 4:41am Oct 1, 2013 4:41am
the ranges on this pair keeps getting smaller and smaller...think i'll stay away from this pair until USD do some major strengthening which doesnt seems likely in the short term
  • #37,573
  • Oct 1, 2013 4:55am Oct 1, 2013 4:55am
Quoting krunfx
{quote} ok let see
Out of interest, what are you expecting then on the downside, and by when, roughly?
I have no clue what I'm talking about.
  • #37,574
  • Oct 1, 2013 5:05am Oct 1, 2013 5:05am
Quoting Boy Wonder
{quote} Out of interest, what are you expecting then on the downside, and by when, roughly?
just see how market react on US open....
Bismillah
  • #37,575
  • Oct 1, 2013 5:21am Oct 1, 2013 5:21am
Quoting krunfx
{quote} just see how market react on US open....
That's not much of an expectation though.
I have no clue what I'm talking about.
  • #37,576
  • Oct 1, 2013 5:40am Oct 1, 2013 5:40am
i seem to be in this situation where if i cut my trade it's just going to rise and if i don't it falls. It's like the man that has to cut off his penis to survive. If he cuts it off he lives but it sucks but he still lives. If he doesn't he dies and that's bad too. What should i do?
  • #37,577
  • Oct 1, 2013 5:45am Oct 1, 2013 5:45am
Quoting forex_fairy
i seem to be in this situation where if i cut my trade it's just going to rise and if i don't it falls. It's like the man that has to cut off his penis to survive. If he cuts it off he lives but it sucks but he still lives. If he doesn't he dies and that's bad too. What should i do?
Where did you determine, before you opened the trade, the point at which you are proven wrong? That is where you get out. Either that, or if price action tips you off before your stop is hit that you are wrong, you can save yourself some money and take the loss early. There isn't a trader alive that is right every time. If you don't know how to deal with being wrong, then you will be in for a lot of pain.
  • #37,578
  • Oct 1, 2013 6:04am Oct 1, 2013 6:04am
Quoting forex_fairy
i seem to be in this situation where if i cut my trade it's just going to rise and if i don't it falls. It's like the man that has to cut off his penis to survive. If he cuts it off he lives but it sucks but he still lives. If he doesn't he dies and that's bad too. What should i do?
Stop trading.
Again.
Stop trading.

But you won't listen to me. I know what it's like...it's addictive. But know this, estimates vary, but it's commonly said that it takes about 10 years to be able to trade consistently profitably. In other words, "to get it". If you can't, or are unwilling, to pay the price in terms of effort and busted accounts and broken relationships (seriously) it's not worth it.
Get out now while you still can. Don't look back.
I have no clue what I'm talking about.
  • #37,579
  • Oct 1, 2013 6:10am Oct 1, 2013 6:10am
Quoting forex_fairy
i seem to be in this situation where if i cut my trade it's just going to rise and if i don't it falls. It's like the man that has to cut off his penis to survive. If he cuts it off he lives but it sucks but he still lives. If he doesn't he dies and that's bad too. What should i do?
I'll put it this way. When you entered your trade your first focus should be how much potential loss do you expect, not how much you think you will make though that's important. Quantify loss rather than quantify profit. That's the strategy and the profit will come naturally to you.

Now that you did not do so and are caught in a limbo, the only decision available to you is to study the market as of now and decide if it's going to give you more pain or less going forward. Use bigger TFs to do this, gives a better perspective. Most important execute when a decision is made, be it hold for later or now to avoid greater pain.

Btw UJ may have seen the bottom for now. All the best ! Cheers!
  • #37,580
  • Oct 1, 2013 6:17am Oct 1, 2013 6:17am
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