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USD/JPY Discussion

  • #41,581
  • Jan 14, 2014 12:21am Jan 14, 2014 12:21am
Quoting UpComerFX
I'm looking to see how stocks + SnP react this week to see if my outlook changes in the "short-term" at least. Long term, I could see the USDJPY go higher due to the different long-term outlooks on stimulus from FED/BOJ. I'm most likely going try a small short from 104 to see if it is indeed going lower than scale in from lower levels. {image}
Short term I see it heading down but it could zig zag or be milked straight up to 104 first before heading back down again. All depends on the Yo-Yo man..
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  • #41,582
  • Jan 14, 2014 12:55am Jan 14, 2014 12:55am
went long, SL 103.20, TP 104.10
  • #41,583
  • Jan 14, 2014 12:59am Jan 14, 2014 12:59am
Quoting Ulterior
went long, SL 103.20, TP 104.10

  • #41,584
  • Jan 14, 2014 1:08am Jan 14, 2014 1:08am
These 2 weeks should be tricky as Chinese New Years is around the corner. Most Chinese want money before Chinese New Years and do not hold positions over Chinese New Years. Whether they be stocks.commodities or currencies they usually like to sell before Chinese New Years so that they have cash for the Holidays to hand out them red envelopes. Big companies also hand over their yearly bonuses to their employees which is usually any where between 1-3 months bonus depending on the company. What the government usually does before Chinese New Years so that no unrest takes place and to keep crime levels low is buy stock shares to lift market share prices for companies as companies low on cash may sell shares to pay employees before Chinese New Years.

With New Years coming up for the Chinese I reckon that Asian markets will slow after this coming next week. Will they cash out this week or next, time will tell..
  • #41,585
  • Jan 14, 2014 3:06am Jan 14, 2014 3:06am
USD vs YEN is just like the DOW and S&P500 to where it can't drop a bit before being milked right back up there again. Looks like 104 is right around the corner again. Dollar is quite bullish again now. Big invisible hand in there again.
  • #41,586
  • Jan 14, 2014 3:10am Jan 14, 2014 3:10am
104 shorttt
  • #41,587
  • Jan 14, 2014 3:23am Jan 14, 2014 3:23am
Quoting Dano12
104 shorttt
It could actually get milked right back up to 104.3-104.4
to enter short at 104 might be too soon I believe. Smart move was to go long for the bounce when Japan opened this morning at around 102.90-103
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  • #41,588
  • Jan 14, 2014 3:30am Jan 14, 2014 3:30am
this thing broke 103.60 just like that. now I dont know what to do.
  • #41,589
  • Jan 14, 2014 3:33am Jan 14, 2014 3:33am
Quoting kweiss10
this thing broke 103.60 just like that. now I dont know what to do.
I am going to sit this one out. Too hard to call a top now. Best to wait till it turns back around and ride it back down again or wait till it gets ridden back down again and look for another opportunity to ride it back up again. A YoYo at the moment...
  • #41,590
  • Jan 14, 2014 3:39am Jan 14, 2014 3:39am
Quoting stylinex
{quote} I am going to sit this one out. Too hard to call a top now. Best to wait till it turns back around and ride it back down again or wait till it gets ridden back down again and look for another opportunity to ride it back up again. A YoYo at the moment...
exactly what I'm going to do.
  • #41,591
  • Jan 14, 2014 3:54am Jan 14, 2014 3:54am
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  • #41,592
  • Jan 14, 2014 4:02am Jan 14, 2014 4:02am
On the other hand, if you remain bullish on USDJPY. Look to enter long positions at completion of bullish bat harmonic pattern.

LONG USDJPY 102.00
SL 40-50pips
TP 104.00

http://i42.tinypic.com/142vmle.png
  • #41,593
  • Jan 14, 2014 4:21am Jan 14, 2014 4:21am
Already hit 104 ?
  • #41,594
  • Jan 14, 2014 4:58am Jan 14, 2014 4:58am
Quoting Ken A
Already hit 104 ?
103,598 atm
  • #41,595
  • Jan 14, 2014 5:00am Jan 14, 2014 5:00am
Quoting aharrold
Any thoughts on Nikkei 225 falling -3.16? I have a feeling there is going to be a huge downfall during this European session, low 102....
Monday was U/J's 100 pip drop (104-->103), but it was on a Japanese bank holiday so the Nikkei Index was closed. Upon returning Tuesday the Index fell hard to catch up with Yen strength the day before So we're like a day off in that aspect.. UsdJpy held up well today, Japanese stocks hold up tomorow as well, is my guess. We'll see!
  • #41,596
  • Jan 14, 2014 5:28am Jan 14, 2014 5:28am
you guys are good 104 and above s the target
  • #41,597
  • Jan 14, 2014 5:55am Jan 14, 2014 5:55am
Quoting mario83
{quote} 103,598 atm
Thanks

Probably a bit stretch to 104 but 103.80 (previous support) looks doable
  • #41,598
  • Jan 14, 2014 5:56am Jan 14, 2014 5:56am
I would take a chance at some shorts near 104.52 if the chance presents itself...risk 12ish..
Look Sharp/Trade Tight
  • #41,599
  • Jan 14, 2014 6:03am Jan 14, 2014 6:03am
Quoting PayTheLimit
I would take a chance at some shorts near 104.52 if the chance presents itself...risk 12ish..
Where have you been?

I only buy dip easier for me
  • #41,600
  • Jan 14, 2014 6:05am Jan 14, 2014 6:05am
Quoting Ken A
{quote} Where have you been?
on the farm...how have you been, staying out of trouble??
Look Sharp/Trade Tight
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