Attachments: USD/JPY Discussion

USD/JPY Discussion

#39,781
Nov 22, 2013 6:16am Nov 22, 2013 6:16am

Jexter
| Joined Nov 2013 | Status: Trader | 46 Posts

I'm staying long, I believe there's room for more upside. Just to be safe, I'm going to move my S/L to ~100.50, which is a tad below a strong former resistance (hopefully turned support) line and the 50% fib retracement from yesterday's move (both at 100.57/8).

#39,782
Nov 22, 2013 6:20am Nov 22, 2013 6:20am

mladen111
| Joined Oct 2013 | Status: Trader | 67 Posts

You are right. In bull market it is not good doing bears thing.

Possible target:
USD/JPY - first 105 and then 110
EUR/JPY - first 138 and then 140

#39,783
Nov 22, 2013 6:23am Nov 22, 2013 6:23am

turny
| Joined Nov 2013 | Status: Trader | 6 Posts

I see no reason to be short, any dips will be bought as we continue to make higher highs and higher lows on the bigger timeframes and there are no fundamental reasons for selling USDJPY, it will piggy back EURJPY moves and drag up in its usual proportionate lazy meandering way as the Euro leads the pack.

#39,784
Nov 22, 2013 6:32am Nov 22, 2013 6:32am

mladen111
| Joined Oct 2013 | Status: Trader | 67 Posts

You are right.

Look at aplication.

Purchase is strong, you can not buy where ever you want, every level is serve for acumulation. Because od this, we expect high price....higher price.....

#39,785
Nov 22, 2013 6:38am Nov 22, 2013 6:38am

mladen111
| Joined Oct 2013 | Status: Trader | 67 Posts

While we were talking, price rose to 137 and now goes straight to 138 - EUR/JPY

#39,786
Edited 7:02am Nov 22, 2013 6:42am | Edited 7:02am

pipxster
| Joined Feb 2012 | Status: Trader | 697 Posts

it seems like we are trapped between the fibo and the upper TL

Attached Image (click to enlarge)

Click to Enlarge

Name: usdjpy_131122.png
Size: 71 KB

if we can break 100.9x ish then we might go 100.1x ish

#39,787
Nov 22, 2013 6:45am Nov 22, 2013 6:45am

Fx_Anil
Joined Jul 2013 | Status: Trader | 1,738 Posts

USDJPY has failed to cross 101.30 resistance level, indicating towards 100.80 and 100.60

#39,788
Nov 22, 2013 6:52am Nov 22, 2013 6:52am

maximinus
| Joined May 2010 | Status: Non Member | 2,751 Posts

Hi Anil,
is it wise to speak of failure to cross 101.3 when NY has not yet opened ?

GL

Don't be smart. Be rich.

#39,789
Nov 22, 2013 6:58am Nov 22, 2013 6:58am

Fx_Anil
Joined Jul 2013 | Status: Trader | 1,738 Posts

Quoting maximinus

Disliked

Hi Anil, is it wise to speak of failure to cross 101.3 when NY has not yet opened ? GL

Ignored

Considering the technical on Daily and 4-hourly charts as well as little news from US, I was of that view. I commit that the US market opening may fuel the volatility. Thank you for your Advise.

#39,790
Nov 22, 2013 7:00am Nov 22, 2013 7:00am

iqyu5an
Joined Jul 2010 | Status: Always manage your risk & leverage | 7,339 Posts

Quoting pipxster

Disliked

for me it seems like we are trapped between the fibo and the upper TL {image} if we can break 100.9x ish then we might go 100.1x ish

Ignored

Is that deep crab or at least butterfly ?

not euphoria follower

#39,791
Nov 22, 2013 7:03am Nov 22, 2013 7:03am

maximinus
| Joined May 2010 | Status: Non Member | 2,751 Posts

You are welcome and GL.

Don't be smart. Be rich.

#39,792
Nov 22, 2013 7:09am Nov 22, 2013 7:09am

mladen111
| Joined Oct 2013 | Status: Trader | 67 Posts

USD/JPY- 101,36 and after that level it is possible to go to 103,50

#39,793
Nov 22, 2013 7:11am Nov 22, 2013 7:11am

mima
| Membership Revoked | Joined May 2008 | 3,395 Posts

On the coming news UJ will go 53 pips up

The Market pays you to be disciplined

#39,794
Nov 22, 2013 7:18am Nov 22, 2013 7:18am

pipxster
| Joined Feb 2012 | Status: Trader | 697 Posts

Quoting iqyu5an

Disliked

{quote} Is that deep crab or at least butterfly ?

Ignored

bit like a crab

Attached Image (click to enlarge)

Click to Enlarge

Name: usdjpy_131122_II.png
Size: 81 KB

#39,795
Nov 22, 2013 7:31am Nov 22, 2013 7:31am

stylinex
Joined Aug 2013 | Status: Trader | 4,057 Posts

Quoting pipxster

Disliked

{quote} bit like a crab {image}

Ignored

Looking at that chart it seems like it has to drop about before it continues to climb from here.

#39,796
Nov 22, 2013 7:36am Nov 22, 2013 7:36am

pipxster
| Joined Feb 2012 | Status: Trader | 697 Posts

Quoting stylinex

Disliked

{quote} Looking at that chart it seems like it has to drop about before it continues to climb from here.

Ignored

yes it should

but maybe it wont

#39,797
Nov 22, 2013 7:56am Nov 22, 2013 7:56am

stylinex
Joined Aug 2013 | Status: Trader | 4,057 Posts

Quoting pipxster

Disliked

{quote} yes it should but maybe it wont

Ignored

If your chart is accurate then it has to drop first then climb. Providing it stays above 100 it should still be in tact while it could also test 97.50 like it did before as well. I honestly reckon retrace and then dollar bull from there.

#39,798
Nov 22, 2013 8:01am Nov 22, 2013 8:01am

stylinex
Joined Aug 2013 | Status: Trader | 4,057 Posts

Quoting pipxster

Disliked

{quote} yes it should but maybe it wont

Ignored

looking at your chart and these 2 charts I see a correction first.on the 4 hour it looks like a top with a reversal and on the daily it needs to drop as well. Also in drop mode on daily so far though it could change.