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USD/JPY Discussion

  • #40,901
  • Jan 2, 2014 5:58pm Jan 2, 2014 5:58pm
I see double top formation on H4
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  • #40,902
  • Jan 2, 2014 8:55pm Jan 2, 2014 8:55pm
Quoting Ulterior
okay, I lied - USD/JPY has a must touch target 104.20, will offload there
Very great analysis! Will UJ back to 103.xx area?
  • #40,903
  • Jan 2, 2014 9:53pm Jan 2, 2014 9:53pm
Man, Usd/Jpy is getting killed... interesting to see how the Nikkei reacts when it opens back up from this week's trading holidays.

USDJPY Slumps Most In 4 Months As Nikkei Futures Tumble 450 Points

USDJPY – Testing recent lows at 104.15.. below the sell stops of 104.10 are bids at 104.00
  • #40,904
  • Jan 2, 2014 9:59pm Jan 2, 2014 9:59pm
Quoting seandean
{quote} I already did above, which garnered a beautifully arrogant and stupid response from one member. I’m not even going to reply to him. Here is an interesting read, very recent too, November 2013. It’s an IMF Working Paper on the Yen and USD with regards to how it moves and trades during risk-off scenarios, much like what you saw today. http://www.imf.org/external/pubs/ft/wp/2013/wp13228.pdf
Really appreciate it. I will read it after I wake up. I have almost lost all due to yesterday usd/jpy, and because I did not set sl due to my poor self confidence. Will get a good rest and might stay away from all the graphs for awhile and will come back after my mind is ready. Good luck Seandean.
  • #40,905
  • Jan 2, 2014 10:26pm Jan 2, 2014 10:26pm
Quoting EmeraldEyes
Man, Usd/Jpy is getting killed... interesting to see how the Nikkei reacts when it opens back up from this week's trading holidays. USDJPY Slumps Most In 4 Months As Nikkei Futures Tumble 450 Points USDJPY – Testing recent lows at 104.15.. below the sell stops of 104.10 are bids at 104.00
This is my honest opinion. When things go good the skeptics, speculators, and weak look for reasons to sell. Then there's always the possibility of stop hunting.
"A true speculator tries the market small." - Jesse Livermore
  • #40,906
  • Jan 2, 2014 11:13pm Jan 2, 2014 11:13pm
I had sold some positions at 104.85 and before I went to sleep I saw it at 105.4 and I was thinking of place a new sell position for $500 (margin of course). Looked at it for ever and thought about buying a $500K position. Sure enough I did not do it and wake up in the morning to see it under 105 Will hang on to my current position though.
  • #40,907
  • Jan 2, 2014 11:20pm Jan 2, 2014 11:20pm
Panic selling in play.....lets see when Eur/London open.
  • #40,908
  • Edited Jan 3, 2014 12:00am Jan 2, 2014 11:22pm | Edited Jan 3, 2014 12:00am
the first trade in 2014.and here is the position to TP. wait for this hour closed

（PS：TP @104.2）
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A chart helps those who can read it.
  • #40,909
  • Jan 3, 2014 1:17am Jan 3, 2014 1:17am
They may milk this one back up to about 104.70 now. After that hopefully the dollar will continue back down.
  • #40,910
  • Jan 3, 2014 1:34am Jan 3, 2014 1:34am
Working its way up to that graph headed down.
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  • #40,911
  • Jan 3, 2014 1:38am Jan 3, 2014 1:38am
Quoting stylinex
They may milk this one back up to about 104.70 now. After that hopefully the dollar will continue back down.
January seems to be a bearish month for this pair. The japanese are usually cashing in their profits in all asset classes around this time.
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  • #40,912
  • Jan 3, 2014 3:13am Jan 3, 2014 3:13am
The US still has the default problem to answer by the 18th of Jan.
No idea how this will factor in but most likely it will weaken the dollar until Washington comes up with a resolution. After that will the USD regain its strength because I dont think the US wants to default.

But hey, I could be wrong.
  • #40,913
  • Jan 3, 2014 3:42am Jan 3, 2014 3:42am
Quoting IveGotQuads
{quote} January seems to be a bearish month for this pair. The japanese are usually cashing in their profits in all asset classes around this time. {image}

Thanks for the post.
  • #40,914
  • Jan 3, 2014 3:43am Jan 3, 2014 3:43am
Quoting kweiss10
The US still has the default problem to answer by the 18th of Jan. No idea how this will factor in but most likely it will weaken the dollar until Washington comes up with a resolution. After that will the USD regain its strength because I dont think the US wants to default. But hey, I could be wrong.
I think you may be right
  • #40,915
  • Jan 3, 2014 3:58am Jan 3, 2014 3:58am
Quoting Mr.C
{quote} USD/JPY: TP1 @ 104,630 reached. Banked half of the position for 58 pips (0,6%, 1 R/R). The rest left running.
Quoting Mr.C
{quote} USD/JPY: my next possible TPs are located @ 104,20 & then 103,90. At this time it is a bit hard to predict more. Will update. Calling it a day. Take care and trade safe guys!
Good day traders. Yesterday's USD/JPY short goes as planned. Second TP @ 104,20 has already been hit. 100 pips of floating profit at the moment. Position is still active with no changes. Next stop @ 103,92.

As always - good luck guys!
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Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #40,916
  • Jan 3, 2014 4:06am Jan 3, 2014 4:06am
a break of 104 will send this pair to search for a new bottom, even 97 is possible
  • #40,917
  • Jan 3, 2014 4:07am Jan 3, 2014 4:07am
Quoting Mr.C
{quote} {quote} Good day traders. Yesterday's USD/JPY short goes as planned. Second TP @ 104,20 has already been hit. 100 pips of floating profit at the moment. Position is still active with no changes. Next stop @ 103,92. As always - good luck guys! {image}
Congrats, Sir!

I'd like to see USD/JPY drop for some correction
  • #40,918
  • Jan 3, 2014 4:29am Jan 3, 2014 4:29am
Quoting Ulterior
a break of 104 will send this pair to search for a new bottom, even 97 is possible
I think you're quite right. Yes - 104 itself is a road block. But to me personally the zone between 103,92 and 103,70 is the one that has some more key levels that might stop us from going south. 97 is of course possible but at the moment 101,13 is the most I could predict for this pair in near future (month or so) if we would break the above mentioned zones.
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #40,919
  • Jan 3, 2014 4:30am Jan 3, 2014 4:30am
Quoting atria
{quote} Congrats, Sir! I'd like to see USD/JPY drop for some correction
Thanks. What exactly are you planning to do with that correction? Any trade plans?
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #40,920
  • Jan 3, 2014 4:42am Jan 3, 2014 4:42am
Quoting Mr.C
{quote} Thanks. What exactly are you planning to do with that correction? Any trade plans?
I have underwater short @103.07
closed long @104.94 from 104.42 before it went down.

Now, waiting daily close to enter short again
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