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USD/JPY Discussion

  • #37,801
  • Oct 7, 2013 3:52pm Oct 7, 2013 3:52pm
As I said hours ago – short today, took profit before end of the day. Could go both ways today, but decided to add up to position on the upwards spike. Over all good day.
  • #37,802
  • Oct 7, 2013 4:00pm Oct 7, 2013 4:00pm
Quoting JeremyWS
{quote} Left hand Y axis is upside down... either that or change Bid spread to ask spread.
LOL i knew something was off. How do I flip it? Using the ask spread does work though
  • #37,803
  • Oct 7, 2013 4:03pm Oct 7, 2013 4:03pm
Quoting edindzeko
{quote} LOL i knew something was off. How do I flip it? Using the ask spread does work though
right click on the axis, then properties, invert scale. but yeah switching the ask/bid bit does the same thing.

Also using the predefined code for the Yield spread i.e. US2JP2=RR doesn't have as much data as specifically loading a spread between US2YT=RR and JP2YT=RR. Just a tip if you want longer term data
  • #37,804
  • Oct 7, 2013 4:05pm Oct 7, 2013 4:05pm
UJ D1

some significant daily close prices here and EMA200 just below ...
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  • #37,805
  • Oct 7, 2013 4:14pm Oct 7, 2013 4:14pm
Quoting JeremyWS
{quote} right click on the axis, then properties, invert scale. but yeah switching the ask/bid bit does the same thing. Also using the predefined code for the Yield spread i.e. US2JP2=RR doesn't have as much data as specifically loading a spread between US2YT=RR and JP2YT=RR. Just a tip if you want longer term data
I wondered why my chart didnt go back very far. Thanks man!
  • #37,806
  • Oct 7, 2013 4:16pm Oct 7, 2013 4:16pm
Quoting edindzeko
{quote} I wondered why my chart didnt go back very far. Thanks man!
if you use a spread between benchmarks you will have quite a long time, even longer if you use IRS (but they show a slightly different view(but like 99% the same))
  • #37,807
  • Oct 7, 2013 4:22pm Oct 7, 2013 4:22pm
http://www.forexlive.com/blog/2013/1...f.png?v=15.1">
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  • #37,808
  • Oct 7, 2013 4:39pm Oct 7, 2013 4:39pm
Quoting edindzeko
{quote} 96.50 should be support
I closed too early I know. Bought on 96.91 and closed on 96.75. But I dont think dollar has anything left in to come up again soon. Tomorrow at the time of FOMC, it's gonna drop too much now I think. Useless to hold long.
  • #37,809
  • Oct 7, 2013 5:09pm Oct 7, 2013 5:09pm
Quoting iahmedz
{quote} I closed too early I know. Bought on 96.91 and closed on 96.75. But I dont think dollar has anything left in to come up again soon. Tomorrow at the time of FOMC, it's gonna drop too much now I think. Useless to hold long.
Could be the case. I think we will get 1 more bounce out of this trendline and then USDX comes under pressure.
  • #37,810
  • Oct 7, 2013 6:31pm Oct 7, 2013 6:31pm
UJ is really not for those with a weak heart.

Still a strong believer that US won't go default, not after all the work Bernanke has done.

But it hurts to hold a long at 97.18.
  • #37,811
  • Oct 7, 2013 6:55pm Oct 7, 2013 6:55pm
Quoting nisack
UJ is really not for those with a weak heart. Still a strong believer that US won't go default, not after all the work Bernanke has done. But it hurts to hold a long at 97.18.

Yeah, i share your view, and shar the pain with longs @ 97.20,

some long scalping from 96,60`s saved my day thought

GL
  • #37,812
  • Oct 7, 2013 6:58pm Oct 7, 2013 6:58pm
Quoting nisack
UJ is really not for those with a weak heart. Still a strong believer that US won't go default, not after all the work Bernanke has done. But it hurts to hold a long at 97.18.
trade your own synergy and game plan. as long your leverage is not overly-exposed should be fine. US won't have much strength until a confirmation that a debt ceiling agreement has been reached, where price surging 100-300 pips is common. But meanwhile, it can fall to 95 or even 94 as its making lower hi on every attempt to climb back.

Yen has been dominating everyone this few weeks.
  • #37,813
  • Oct 7, 2013 7:08pm Oct 7, 2013 7:08pm
Quoting 5percent
{quote} trade your own synergy and game plan. as long your leverage is not overly-exposed should be fine. US won't have much strength until a confirmation that a debt ceiling agreement has been reached, where price surging 100-300 pips is common. But meanwhile, it can fall to 95 or even 94 as its making lower hi on every attempt to climb back. Yen has been dominating everyone this few weeks.
agree...I dont think there is anyone out there that thinks that the US would default.

But govt will wait until the very last day to come to an agreement...that is another 10 days of USD.JPY inching lower and lower.
  • #37,814
  • Oct 7, 2013 7:13pm Oct 7, 2013 7:13pm
Judgement day is Oct 17th. The biggest concern to me is the deliberate manipulation to let it go default. But I would have thought the impact the US is way too big.

If it goes default, we might really dive to 93.8 or below....

PS. Really appreciate everyone's encouraging words!
  • #37,815
  • Oct 7, 2013 7:16pm Oct 7, 2013 7:16pm
Quoting Doboy408
{quote} agree...I dont think there is anyone out there that thinks that the US would default. But govt will wait until the very last day to come to an agreement...that is another 10 days of USD.JPY inching lower and lower.

Either freak us out by going lower an gap jump with the resolution of debt ceiling. Or really freak us out by letting it default! Haha!
  • #37,816
  • Oct 7, 2013 7:28pm Oct 7, 2013 7:28pm
For those of you who think that there will be a US Default, you've been watching too much television.

There will be no US default. The US brings in more money than it owes, by a factor of 10. It would not default.

Now, it does mean that a lot of people won't get paid. But this isn't the same thing as defaulting on a loan obligation.
  • #37,817
  • Oct 7, 2013 7:33pm Oct 7, 2013 7:33pm
Hmm lets see
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  • #37,818
  • Oct 7, 2013 7:49pm Oct 7, 2013 7:49pm
Quoting 5percent
{quote} trade your own synergy and game plan. as long your leverage is not overly-exposed should be fine. US won't have much strength until a confirmation that a debt ceiling agreement has been reached, where price surging 100-300 pips is common. But meanwhile, it can fall to 95 or even 94 as its making lower hi on every attempt to climb back. Yen has been dominating everyone this few weeks.
Yes.. Hoping we have hit support now and head back to 97.5

US will come to some agreement, as the worlds currency it can't crash.. with China holding a ridiculous amount of US Debt

..It can't crash.. Can it?
Even the worst trade can close with profit. Just give it time.
  • #37,819
  • Oct 7, 2013 7:57pm Oct 7, 2013 7:57pm
US will default. Why?

Obama wants to try a prove a point to the Fed that they don't run the country and he apparently does. Hahahahaaa, little does he know!

I see a fate worse than the GFC for the US.

I am lost as to why he was voted in anyway, he is trouble for the US.

Good luck everyone!
  • #37,820
  • Oct 7, 2013 8:19pm Oct 7, 2013 8:19pm
Quoting shivam332
{quote} It is the right time to buy for me with tight SL! GL
Monday's usually set the trend. Too early for reversal during a time when the US faces major currency shortage and shutdown for $ to be strong. My $.02...

GL..
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