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USD/JPY Discussion

  • #39,361
  • Nov 14, 2013 4:43am Nov 14, 2013 4:43am
Quoting huuhaoftr
I saw the head and shoulders pattern for USD / JPY following chart shows that: {image}
Looks like it failed.. more like a trap
  • #39,362
  • Nov 14, 2013 4:49am Nov 14, 2013 4:49am
Japan's growth and export numbers are pretty bad so the government is pushing for a weaker YEN. This last quarter of the year is very important for exports and growth numbers. Christmas season....
  • #39,363
  • Nov 14, 2013 4:51am Nov 14, 2013 4:51am
Quoting huuhaoftr
I saw the head and shoulders pattern for USD / JPY following chart shows that: {image}
sorry but i think the timeframe you're trading is really small, you'll see alot of fakeout and wrong patterns. trade 1h, 4h or daily for bigger, better picture thus leading to trading success.
Never let success get to your head because the market will punish you
  • #39,364
  • Nov 14, 2013 4:55am Nov 14, 2013 4:55am
Quoting stylinex
Japan's growth and export numbers are pretty bad so the government is pushing for a weaker YEN. This last quarter of the year is very important for exports and growth numbers. Christmas season....
looks like this year's christmas presents are all about japan products, maybe even toyotas, mazdas and lexus.
Never let success get to your head because the market will punish you
  • #39,365
  • Nov 14, 2013 4:58am Nov 14, 2013 4:58am
sellers emerging at 100.00. at 100.00, you'll see alot of confusion and indecision cause they would know where to go from there. good luck.
Never let success get to your head because the market will punish you
  • #39,366
  • Edited 5:31am Nov 14, 2013 5:00am | Edited 5:31am
US news today could break the bulls or bust the bears. release in 2.5 hours
  • #39,367
  • Nov 14, 2013 5:02am Nov 14, 2013 5:02am
Quoting kweiss10
US news today could break the bulls or bust the bears. release in 1.5 hours
dovish yellen can do so too!
Never let success get to your head because the market will punish you
  • #39,368
  • Nov 14, 2013 5:03am Nov 14, 2013 5:03am
Quoting huuhaoftr
I saw the head and shoulders pattern for USD / JPY following chart shows that: {image}
Just to add to what reggiecjh said...

On the 5min chart and 1hr it did look bearish at that point in time, and price did move in your favor briefly (good). Now imagine the chart you posted were monthly candles...would have been a pretty good trade right? All you need to do to be a successful trader is pick the direction of the newly opened candle, it just depends what timeframe you are looking at.

1hr back to bullish, 4hr still has 3 more hours till it closes.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #39,369
  • Nov 14, 2013 5:20am Nov 14, 2013 5:20am
Quoting reggiecjh
{quote} dovish yellen can do so too!
what I hate about this market is, you get the opposite of what you expect. I hear people saying she is dovish but she may just surprise us.
  • #39,370
  • Nov 14, 2013 5:21am Nov 14, 2013 5:21am
Nikkei closed + 2.12% and above previous resistance. Now it's at the final resistance at 14,950 from July high and after that clear sky. Impressive.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #39,371
  • Nov 14, 2013 5:53am Nov 14, 2013 5:53am
Quoting kweiss10
{quote} what I hate about this market is, you get the opposite of what you expect. I hear people saying she is dovish but she may just surprise us.
Market change everyday...however people dont. A dovish yellen today will be dovish tomorrow next week next year
  • #39,372
  • Nov 14, 2013 6:02am Nov 14, 2013 6:02am
Quoting kweiss10
{quote} what I hate about this market is, you get the opposite of what you expect. I hear people saying she is dovish but she may just surprise us.
The surprise will be if she does not say the things in the text that was leaked yesterday.....
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #39,373
  • Nov 14, 2013 6:14am Nov 14, 2013 6:14am
Well I cover UJ. We may get spillover out of EU if that LTL breaks and we are going down to 1,32, so maybe should wait, otherwise I would expect correction down to 98,6 before new highs. Not now necessarily, but unemployment in 1h 15 mins could give a push.
T
"I know one thing, that I know nothing." Sokrates
  • #39,374
  • Nov 14, 2013 6:27am Nov 14, 2013 6:27am
Today is Thursday and usually major reversals or corrections take place on either Thursday or Friday. Get ready
  • #39,375
  • Nov 14, 2013 6:27am Nov 14, 2013 6:27am
Quoting Tom_D_Trader
Well I cover UJ. We may get spillover out of EU if that LTL breaks and we are going down to 1,32, so maybe should wait, otherwise I would expect correction down to 98,6 before new highs. Not now necessarily, but unemployment in 1h 15 mins could give a push. T

True. on UJ, im will be looking at 100.45( still stands on my bias, if it gets there thou with imm Support area at 99.4 and further 98.58 area respectively )

As for EU Im actually looking at a sell at this current level 1.34 area towards 1.328 area as an initial target, longer target might be a further move of south at 1.30 area....

Just my bias...
Sincerely Yours Cheers!
  • #39,376
  • Nov 14, 2013 6:29am Nov 14, 2013 6:29am
Quoting stylinex
Today is Thursday and usually major reversals or corrections take place on either Thursday or Friday. Get ready
yeah, reversal up as it seems
  • #39,377
  • Nov 14, 2013 6:32am Nov 14, 2013 6:32am
Anybody short?
  • #39,378
  • Nov 14, 2013 6:37am Nov 14, 2013 6:37am
Quoting kweiss10
{quote} yeah, reversal up as it seems

Let's see how 99.8 and 99.7 hold up. If they hold up from there and continue up then we could see 100.45 I am thinking.
  • #39,379
  • Nov 14, 2013 6:50am Nov 14, 2013 6:50am
I think we might see some retrace. But I belive the pair will shoot up above 100 in a few business days.
  • #39,380
  • Nov 14, 2013 7:02am Nov 14, 2013 7:02am
Expecting to see some real movement on this unemployment claims # b/c we are sitting at a very important level and U.S. stocks sitting at all time highs. Seeing a bit of weakness on 1hr and double wick potential on 4hr.

I'm still believing up, but report may create spike down to 99.80 before reversing hard into 100.40 area.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
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