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EUR/JPY

  • #81
  • Nov 28, 2013 7:24am Nov 28, 2013 7:24am
Quoting MisterTrader
The more important currency pair now is USD/JPY which is trading at the WEEKLY 3rd standard deviation. The last time that USD/JPY traded at 3rd standarde deviation was during financial crisis 2008 after the collapse of Lehman. USD/JPY bounced back to 2nd standard deviation which is 101.50 now. 101.50 should translate in EUR/JPY =136.75. Letīs see. Maybe finally someone from G10 countries will label Japan as "currency manipulating country". Actually Japan is doing NOTHING to change their economy structural. Their whole economic recovery is based...
japanese doing all this for more more cheaper toyota and honda. europeans what they do to avoid this advantage? vw, peugeot, seat more more expensive
  • #82
  • Nov 28, 2013 7:36am Nov 28, 2013 7:36am
Quoting artocarpus
{quote} japanese doing all this for more more cheaper toyota and honda. europeans what they do to avoid this advantage? vw, peugeot, seat more more expensive
They will have others means to stop/block yen from taking this advantage, politic is not as simple as ABC, friend.
Face both Win and Lose bravely
  • #83
  • Nov 28, 2013 8:44am Nov 28, 2013 8:44am
Quoting artocarpus
{quote} japanese doing all this for more more cheaper toyota and honda. europeans what they do to avoid this advantage? vw, peugeot, seat more more expensive
The European Union can introduce tariffs (tax) on every car imported in the EU. Thus, they would punish the Japanese for their behavior. Japanese cars are now 40% less expensive than last year. Put a 40% tariff on Japanese cars and we have fairness again.
________________________________ Errare humanum est
  • #84
  • Nov 28, 2013 9:22am Nov 28, 2013 9:22am
EURJPY is now hovering at the critical 139.2 resistance level. A break upwards might lead to another long term bull run to 157?
  • #85
  • Nov 28, 2013 10:03am Nov 28, 2013 10:03am
Quoting clemmy15
EURJPY is now hovering at the critical 139.2 resistance level. A break upwards might lead to another long term bull run to 157?

Hello EUR/YEN

That would be great

but I have shorts down to 130

The old story can it go from 92 to 140 + with out a retrace

Would have thought they would try an catch all the dump ass

retailers while they are a sleep an drop the big hammer

on the peasants.You would think profit taking at these levels,

an a retrace would bring in more punters etc
  • #86
  • Nov 28, 2013 10:22am Nov 28, 2013 10:22am
http://www.myfxbook.com/community/outlook/EURJPY

Retail crowd is always wrong for a good while then the market goes in there favor, as soon as retail is net long then we will see more sell off.
  • #87
  • Nov 28, 2013 1:05pm Nov 28, 2013 1:05pm
Quoting clemmy15
EURJPY is now hovering at the critical 139.2 resistance level. A break upwards might lead to another long term bull run to 157?
The only critical level is USD/JPY at the WEEKLY 2.5 standard deviation.

And as usual the broker/dealer clowns are playing a master show: USD/JPY is trading in the range 102.18-102.36 for the last 10 hours. Of course the impression must be given that there is "endless" demand at these levels. BULLSHIT! Some algos playing PING PONG and "range trading" buy and sell orders between each other.

USD/JPY will retreat from this level for at least 100 pips - thatīs the standard reaction when reaching 2.5.
________________________________ Errare humanum est
  • #88
  • Nov 28, 2013 1:18pm Nov 28, 2013 1:18pm
Here is a screenshot from a professional platform - take a look at the spreads ;=)



http://img59.imageshack.us/img59/5220/64wo.png
________________________________ Errare humanum est
  • #89
  • Nov 28, 2013 1:19pm Nov 28, 2013 1:19pm
If history is any guide, the last time EJ did a similar pattern on the 4H chart, we went for a 600 pip run without any significant retrace... so far we have 200 pips move from the last 4H chart correction/consolidation.

and yes, the uptrend JUST started (could go on for months), but a retrace seems, maybe after we break previous monthly resistance at 139.21 convincingly with a monthly close above.
Cheers.
Attached Image(s) (click to enlarge)
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  • #90
  • Nov 28, 2013 1:26pm Nov 28, 2013 1:26pm
Attached Image (click to enlarge)
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Is this na ending diagonal?
  • #91
  • Edited 1:59pm Nov 28, 2013 1:28pm | Edited 1:59pm
Quoting Zink
{image} Is this na ending diagonal?
People have been calling ending diagonal on the S&P since 1500, look where we are at now (and I reckon we have more to go as long as uptrend holds)

Sure one day they might be right, but in the mean time, it should be LONG until support breaks (from a swing /position trading perspective that is). Collapses don't happen overnight, even the black fridays or black monday had huge pre-warning like massive DOWN days breaking support before the big crash came.

ofcourse if an asteroid hits earth, then yes markets might suddenly collapse. but will you still be trading forex?

I think people avoid trend trading because it requires,
1) patience
2) ability to buy when prices seem high and sell when prices seem low (although in actual fact it is all relative as perception of true value is always shifting). i..e 137 was high months ago for EJ, but this week it's a LOW price to buy at.
3) large stops because counter trend moves can be sharp and quick to wipe out weak trend players -> hence small position sizing relative to account.
and especially if they have a
4) tendency to gamble -> going for big wins and fast gains instead of consistency that trend trading offers.
5) unwillingness to admit they are wrong about a move.
Build good relationships with others.
  • #92
  • Nov 28, 2013 1:45pm Nov 28, 2013 1:45pm
There is a much easier way to play rising stock markets: simply buy S&P 500 call options and you canīt be wrong. I have bought 1700,1800 and 1850 calls 2 months ago and enjoy the ride. My 1700 strike price is up over 300% in just 2 months.
________________________________ Errare humanum est
  • #93
  • Nov 28, 2013 1:47pm Nov 28, 2013 1:47pm
Quoting MisterTrader
There is a much easier way to play rising stock markets: simply buy S&P 500 call options and you canīt be wrong. I have bought 1700,1800 and 1850 calls 2 months ago and enjoy the ride. My 1700 strike price is up over 300% in just 2 months.
lol... only because you are in a bull market =.=

why don't you do the same for EJ then? buy on all the dips, can't be wrong either.
Build good relationships with others.
  • #94
  • Nov 28, 2013 1:52pm Nov 28, 2013 1:52pm
Quoting MisterTrader
USD/JPY bounced back to 2nd standard deviation which is 101.50 now. 101.50 should translate in EUR/JPY =136.75.
Either you are confused or trying to confuse people lol
  • #95
  • Nov 28, 2013 1:55pm Nov 28, 2013 1:55pm
Hi Eliteincome,
I started my forex with H4 chart, it work 70% of the time, but kill on the other 30% with no time to breath
U see nothing when turn to higher TF. My advice to U and others.
Face both Win and Lose bravely
  • #96
  • Nov 28, 2013 3:00pm Nov 28, 2013 3:00pm
Quoting shellsnail
{quote} lol... only because you are in a bull market =.= why don't you do the same for EJ then? buy on all the dips, can't be wrong either.
Valid question.

You have observed that EUR/JPY has lost its correlation with equity markets since introduction of QE in the US 5 years ago? In the good, old times EUR/JPY was 85% correlated to US equity markets performance.
________________________________ Errare humanum est
  • #97
  • Nov 28, 2013 3:03pm Nov 28, 2013 3:03pm
Quoting Ken A
{quote} Either you are confused or trying to confuse people lol
Hum, confusing? I am talking about the correlation of USD/JPY with EUR/JPY.
________________________________ Errare humanum est
  • #98
  • Nov 28, 2013 3:38pm Nov 28, 2013 3:38pm
Quoting MisterTrader
{quote} Hum, confusing? I am talking about the correlation of USD/JPY with EUR/JPY.
Say E/J @ 140.50, where is U/J @ ?
  • #99
  • Nov 28, 2013 3:41pm Nov 28, 2013 3:41pm
Quoting BBPI_fxtrader
thread for trades regarding EURJPY anyone else trading EURJPY ? support was at 157.20, which it hit resistance is at 155.90 pivot 156.71 currently still short from 156.88 edit: closed @ 156.34
If you hold that short from 156.88, should be in green 1,500 pips at current rate. If so, congratulations
  • #100
  • Nov 28, 2013 3:46pm Nov 28, 2013 3:46pm
Quoting Ken A
{quote} Say E/J @ 140.50, where is U/J @ ?
I guess 103.00.
________________________________ Errare humanum est
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