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USD/JPY Discussion

  • #39,801
  • Nov 22, 2013 8:35am Nov 22, 2013 8:35am
Quoting stylinex
{quote} here is 4 hour {image}
I use this platform. But onlyto place orders.mt4 for charts
broker has been great so far. Been a year since GFT left.
  • #39,802
  • Nov 22, 2013 9:00am Nov 22, 2013 9:00am
If this projection comes true, US yields would remain more attractive vs Japan, no fear for UJ uptrend : http://stks.co/euKE
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #39,803
  • Nov 22, 2013 10:00am Nov 22, 2013 10:00am
Quoting mladen111
EUR/JPY - new trading zone - it seems resistance is support now - open the way to 139
That chart you posted is more than enough. That is the chart that the banks & hedge funds make their decisions on. That is the only chart that matters right now.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #39,804
  • Nov 22, 2013 10:10am Nov 22, 2013 10:10am
in one hour we should see some movements
  • #39,805
  • Nov 22, 2013 10:12am Nov 22, 2013 10:12am
EUR/JPY - is ready for rocket
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  • #39,806
  • Nov 22, 2013 11:04am Nov 22, 2013 11:04am
Que ustedes dicen? Rocket esta bien?
  • #39,807
  • Nov 22, 2013 12:27pm Nov 22, 2013 12:27pm
Anybody looking at shorts? USDJPY and SPX Looking like a short term double top.


Shorted 101.29 with a tight stop at 101.36
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Twitter: @TrendersGame
  • #39,808
  • Nov 22, 2013 12:27pm Nov 22, 2013 12:27pm
Quoting Citiboy
Anybody looking at shorts? USDJPY and SPX Looking like a short term double top. Shorted 101.29 with a tight stop at 101.36 {image}
I'm waiting to short just because im short bias. Whats your TP?
  • #39,809
  • Nov 22, 2013 12:30pm Nov 22, 2013 12:30pm
Will probably take off half near 101.05. Depends on how SPX does into the close, if it takes out 1800 and runs I will get out.
Twitter: @TrendersGame
  • #39,810
  • Nov 22, 2013 12:39pm Nov 22, 2013 12:39pm
Looks more like a bullish pennant to me, good luck with the shorts anyway.
  • #39,811
  • Nov 22, 2013 12:46pm Nov 22, 2013 12:46pm
I can tell there are allot of traders here that don't have a ton of experience trading uj. Look at the daily chart last year around this time. If you short this my advice to you is don't sit on that position to long. This pair has a tendency to rip higher with very small pull backs here and there.
"A true speculator tries the market small." - Jesse Livermore
  • #39,812
  • Nov 22, 2013 12:51pm Nov 22, 2013 12:51pm
Would you say the daily has formed a cup and handle?
  • #39,813
  • Nov 22, 2013 1:16pm Nov 22, 2013 1:16pm
Quoting Jgcole83
I can tell there are allot of traders here that don't have a ton of experience trading uj. Look at the daily chart last year around this time. If you short this my advice to you is don't sit on that position to long. This pair has a tendency to rip higher with very small pull backs here and there.
Good point there. Right around this time was the beginning of the move from 80 to 100.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #39,814
  • Nov 22, 2013 1:25pm Nov 22, 2013 1:25pm
Closed out at BE.... I get what you all are saying here however last time this year there wasn't massively one sided positioning in JPY and there wasNT this huge correlaiton with equity prices (while said equities were trading at all time highs and the vix is printing lows of the year)
Twitter: @TrendersGame
  • #39,815
  • Nov 22, 2013 1:29pm Nov 22, 2013 1:29pm
Quoting Jgcole83
I can tell there are allot of traders here that don't have a ton of experience trading uj. Look at the daily chart last year around this time. If you short this my advice to you is don't sit on that position to long. This pair has a tendency to rip higher with very small pull backs here and there.


So your daily chart starts in November 2012? I have one that dates back to 1982, it’s not so pretty.

More recently, we hit a swing high of 124.18 in 2007 which brought us an “all-time” low of 75.35 in 2011.

There is a clear reason why we had a very smooth uptrend between this time last year and the middle of May this year. That reason no longer exists; it’s been completely priced in already. I’m not saying we can’t hit 105 or 110 between now and May 2014, but it’s no smooth uptrend, to not expect large pull backs and extended ranging is ridiculous.
  • #39,816
  • Nov 22, 2013 1:40pm Nov 22, 2013 1:40pm
Still waiting for a short opportunity. I only took off half of my losing shorts. I still have a small short in and will hold it into the weekend. I hate holding positions over the weekend. Being flat helps me sleep well over the weekend. I recall watching a documentary where one trader went bankrupt in the 1990s. Ironically, he was trading U/J and he was long. The market gapped 500 ticks on open, Sunday night. He was wiped out.

I have a feeling that we will get less QE talk from the BOJ in the near future. Besides, if either stocks tank or the FED starts acting dovish again, U/J will go down. There's too much downside risk. I think it was Soros who said that money is made by anticipating and trading the unexpected. Doesn't mean you have to always be a contrarian, but I am. It's all about losing very little money when you're wrong (which I often am) and making a lot of money when you're right.
  • #39,817
  • Nov 22, 2013 1:53pm Nov 22, 2013 1:53pm
Quoting card
Still waiting for a short opportunity. I only took off half of my losing shorts. I still have a small short in and will hold it into the weekend. I hate holding positions over the weekend. Being flat helps me sleep well over the weekend. I recall watching a documentary where one trader went bankrupt in the 1990s. Ironically, he was trading U/J and he was long. The market gapped 500 ticks on open, Sunday night. He was wiped out. I have a feeling that we will get less QE talk from the BOJ in the near future. Besides, if either stocks tank or the FED...
How long have you been trading bro?
  • #39,818
  • Nov 22, 2013 2:05pm Nov 22, 2013 2:05pm
Quoting shivam332
{quote} Yes, I agree with you. My long term target is 105
Money never sleeps I can hear the dollar calling me
  • #39,819
  • Nov 22, 2013 2:09pm Nov 22, 2013 2:09pm
Quoting card
Still waiting for a short opportunity. I only took off half of my losing shorts. I still have a small short in and will hold it into the weekend. I hate holding positions over the weekend. Being flat helps me sleep well over the weekend. I recall watching a documentary where one trader went bankrupt in the 1990s. Ironically, he was trading U/J and he was long. The market gapped 500 ticks on open, Sunday night. He was wiped out. I have a feeling that we will get less QE talk from the BOJ in the near future. Besides, if either stocks tank or the FED...
I think it is logical to have a longer term bullish outlook for Yen when looking at the 40 years of trend. However the price action does not currently support that opinion so being short right now is not logical (good thing you're only half short). Some big Yen bear trap may be setting up, but price action will tell you when it has been sprung.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #39,820
  • Nov 22, 2013 2:11pm Nov 22, 2013 2:11pm
Everyone and their mother is bearish on JPY... look at the positioning... meanwhile theres no signs of increased easing from the BOJ any time soon. The equities correlation is what concerns me most though... one bad day for SPX and you get on of those classic WTF yen days of a random 150 point dive to fk everyone over.
Twitter: @TrendersGame
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