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USD/JPY Discussion

  • #41,061
  • Jan 7, 2014 7:39am Jan 7, 2014 7:39am
USDJPY Forecast for 7th January, 2014 (Tuesday)
Daily Chart
http://4.bp.blogspot.com/-Kucdce36zi...1-07_14-15.jpg
USDJPY D1 - 2014-01-07_14-15.jpg



  1. Our view still in place for a higher high
  2. After a pin bar from friday pointing bullish strength, we could argue we have a bearish engulfing, however zoom into the hourly chart below...

Hourly Chart
http://4.bp.blogspot.com/-fLY0OtcGvq...1-07_14-15.jpg
USDJPY H4 - 2014-01-07_14-15.jpg

  1. Tested major support and physiological level (under 104) last night, and rebounded, seems to have completed a b-c leg, and should break upwards.

Outlook Trade opportunity
Long for this C-D leg with stops 103.850 - Targeting new highs at the 106 handle, and taking partial profit at recent highs. You can wait for confirmation to form a higher low before going on

Risk Level -Low - good reward risk ratio

Attached Image(s) (click to enlarge)
Click to Enlarge Name: USDJPY D1 - 2014-01-07_14-15.jpg Size: 186 KB
Click to Enlarge Name: USDJPY H4 - 2014-01-07_14-15.jpg Size: 129 KB
Only the strong survives!
  • #41,062
  • Jan 7, 2014 7:54am Jan 7, 2014 7:54am
Quoting htsang
USDJPY Forecast for 7th January, 2014 (Tuesday) Daily Chart {image} USDJPY D1 - 2014-01-07_14-15.jpg Our view still in place for a higher high After a pin bar from friday pointing bullish strength, we could argue we have a bearish engulfing, however zoom into the hourly chart below...Hourly Chart {image} USDJPY H4 - 2014-01-07_14-15.jpg Tested major support and...
nice charts
  • #41,063
  • Jan 7, 2014 8:04am Jan 7, 2014 8:04am
Quoting Cowboy11
{quote} This pair is relatively slower compare with others. (low ß, beta) steadier. U has oil & gas, technology, agriculture....... What does J has?
A lot of time the day's high/low is lesser than 50 pips. You have strick the perfect entry/exit timing to make profit. Right??????
Face both Win and Lose bravely
  • #41,064
  • Jan 7, 2014 8:38am Jan 7, 2014 8:38am
feel like usd/jpy is going up.
still in long from 104.15 but will try a short from 104.61 - 104.10ish
  • #41,065
  • Jan 7, 2014 8:47am Jan 7, 2014 8:47am
Here we go some action.
  • #41,066
  • Jan 7, 2014 8:59am Jan 7, 2014 8:59am
in at 104.15 buy and 104.61 sell
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyh1.png Size: 30 KB
  • #41,067
  • Jan 7, 2014 9:05am Jan 7, 2014 9:05am
I don't think I would short this just yet...you might be right what do I know.
  • #41,068
  • Jan 7, 2014 9:07am Jan 7, 2014 9:07am
Quoting Rizmeister
I don't think I would short this just yet...you might be right what do I know.

i wouldnt advise anyone to take my trades
  • #41,069
  • Jan 7, 2014 9:08am Jan 7, 2014 9:08am
No I know just saying. Its been waiting for a reason to climb and now has some steam from data release and people running from the Euro. She might run into some resistance at the 104.8ish level.
  • #41,070
  • Jan 7, 2014 9:11am Jan 7, 2014 9:11am
Quoting Rizmeister
No I know just saying. Its been waiting for a reason to climb and now has some steam from data release and people running from the Euro.

look at usd/cad dollar.
but i have a usd/jpy long so im covered on this trade.
  • #41,071
  • Jan 7, 2014 9:14am Jan 7, 2014 9:14am
Yeah horrible date out of Canada with positive trade balance out of USA. Oh I thought you were closing and opening a sell at 104.6. I hope it doesn't pull back. I want to see it go to 105 atleast.
  • #41,072
  • Jan 7, 2014 9:30am Jan 7, 2014 9:30am
Quoting Rizmeister
Yeah horrible date out of Canada with positive trade balance out of USA. Oh I thought you were closing and opening a sell at 104.6. I hope it doesn't pull back. I want to see it go to 105 atleast.

long tp and short sl close to 105.
usd is looking strong.
will wait and see what happens.
  • #41,073
  • Jan 7, 2014 9:33am Jan 7, 2014 9:33am
Quoting wannabtrader
{quote} long tp and short sl close to 105. usd is looking strong. will wait and see what happens.

USD is looking strong. We shall see is right ha.
  • #41,074
  • Jan 7, 2014 9:40am Jan 7, 2014 9:40am
103.8 area looks to be rejected.... longs should be safe unless we get below that level
  • #41,075
  • Jan 7, 2014 10:11am Jan 7, 2014 10:11am
Not sure if dollar looks as strong as I (we) thought. May go lower from 104.60. This is my line in the sand. Its testing it, time will tell. I'm with you guys and hoping dollar will win today!
Faith ends where worry begins, and worry ends where faith begins.
  • #41,076
  • Jan 7, 2014 10:13am Jan 7, 2014 10:13am
Definitely slowed down a bunch.
  • #41,077
  • Jan 7, 2014 10:26am Jan 7, 2014 10:26am
Stops in USDJPY above 104.80, more over 105.00
  • #41,078
  • Jan 7, 2014 10:31am Jan 7, 2014 10:31am
my opinion is price will get to 105.
it just might go down to 104.10 first
  • #41,079
  • Jan 7, 2014 10:35am Jan 7, 2014 10:35am
pump and dump

correlation with SP500
  • #41,080
  • Jan 7, 2014 11:05am Jan 7, 2014 11:05am
Quoting Dano12
pump and dump correlation with SP500
Well if it was they got me!!! Lost a few, but that's okay, Im still here!!!
Faith ends where worry begins, and worry ends where faith begins.
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