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USD/JPY Discussion

  • #41,601
  • Jan 14, 2014 6:15am Jan 14, 2014 6:15am
Quoting PayTheLimit
{quote} on the farm...how have you been, staying out of trouble??
Doing fine thanks

Try my best to stay out of trouble crazy internet lol
  • #41,602
  • Jan 14, 2014 6:18am Jan 14, 2014 6:18am
Quoting Ken A
{quote} Doing fine thanks Try my best to stay out of trouble crazy internet lol

easiest way to stay out of trouble is to stay out of the EURUSD thread....easier said than done...good to hear your well...
Look Sharp/Trade Tight
  • #41,603
  • Jan 14, 2014 8:07am Jan 14, 2014 8:07am
does anyone think it is possible we will reach the 123.6% level (106.x)?
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  • #41,604
  • Jan 14, 2014 8:20am Jan 14, 2014 8:20am
104.12/13 could also be a good spot for some shorts....
Look Sharp/Trade Tight
  • #41,605
  • Jan 14, 2014 8:23am Jan 14, 2014 8:23am
104.12 to 104.71 are excellent selling positions. I don't think it would reach 106 level soon, should first reach 104.5 levels, then go short towards 101.5-102.5, and then... What am I talking about? Is it real?
  • #41,606
  • Jan 14, 2014 8:28am Jan 14, 2014 8:28am
I was long the USDJPY as I mentioned in a post yesterday.
I gained around 40 pips

However, I am not an expert, but you guys can say that I was lucky enough to get into the trade.
Another dip towards the 103.00 level may present us a buying opportunity again.
I am waiting again for a dip in the pair to enter a long trade.

Anyone else is looking to buy in the short term?

Please share your thoughts on the same.

Ajpipsmaker
  • #41,607
  • Jan 14, 2014 8:31am Jan 14, 2014 8:31am
Seeing lots of wicks on the 1HR. 103.9 is a major resistance
  • #41,608
  • Jan 14, 2014 8:33am Jan 14, 2014 8:33am
And another scenario I thought of, drop down to 102.5 - 102... in today. Would offer very good buying op. And then... Maybe towards 106 levels. This scenario seems more probable now, or logic.
  • #41,609
  • Jan 14, 2014 8:38am Jan 14, 2014 8:38am
The first upside target is the Weekly Pivot at 104.4.

After that, it's anyone's guess. Mine is steadily lower...but I reserve the right to observe the price action at that level before I make up my mind.
  • #41,610
  • Jan 14, 2014 8:40am Jan 14, 2014 8:40am
Hey traders. Hope you're doing well. Back to USD/JPY. Sell @ 103,685 activated. SL @ 104,085. 1% risk.

Wish all a successful day!
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #41,611
  • Jan 14, 2014 9:35am Jan 14, 2014 9:35am
Quoting lamp
does anyone think it is possible we will reach the 123.6% level (106.x)? {image}
Yes it is possible. It is possible, just as 100 is possible.
But the timing of either target is impossible to nail down.
I have no clue what I'm talking about.
  • #41,612
  • Jan 14, 2014 9:51am Jan 14, 2014 9:51am
I think the trend for this pair has started a reversal one, so I did a Sell Order yesterday.
  • #41,613
  • Jan 14, 2014 9:52am Jan 14, 2014 9:52am
Quoting Mr.C
Hey traders. Hope you're doing well. Back to USD/JPY. Sell @ 103,685 activated. SL @ 104,085. 1% risk. Wish all a successful day!
Good luck!
  • #41,614
  • Jan 14, 2014 10:10am Jan 14, 2014 10:10am
We will wait for 4H close, but it appears from 1h the .8/.9 area has been rejected. Southbound!
  • #41,615
  • Edited 11:51am Jan 14, 2014 11:27am | Edited 11:51am
Quoting flipnfaith
We will wait for 4H close, but it appears from 1h the .8/.9 area has been rejected. Southbound!
Reversals usually take place on Thursday or Friday so I expect one more push up tomorrow before a reversal unless market decides to skip the reversal this week. So far this pair is bouncing back just like a YoYo. At the top of the bounce it should drop back again unless someone decides to hold it there.

4 hour just hit resistance and testing resistance
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  • #41,616
  • Jan 14, 2014 11:45am Jan 14, 2014 11:45am
Quoting Mr.C
Hey traders. Hope you're doing well. Back to USD/JPY. Sell @ 103,685 activated. SL @ 104,085. 1% risk. Wish all a successful day!
Too soon to try and call tops if you ask me. Today is only Tuesday and retrace is around 104.4 take or give.
on the daily we have more upside left
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  • #41,617
  • Jan 14, 2014 11:54am Jan 14, 2014 11:54am
Probably people got carried away yesterday at how easy to make pips by shorting - but not today
  • #41,618
  • Jan 14, 2014 11:55am Jan 14, 2014 11:55am
collected 40 pips waitn for the bigger move down around 104.5
  • #41,619
  • Jan 14, 2014 12:00pm Jan 14, 2014 12:00pm
Quoting Raypower
collected 40 pips waitn for the bigger move down around 104.5
If it closes around 104 or under today then Japan will most likely lift it up to around 104.3-104.4 tomorrow morning their time. If they lift it till around 104.25 then Europe may lift it till about 104.35-104.5
After that we should correct.
  • #41,620
  • Jan 14, 2014 12:01pm Jan 14, 2014 12:01pm
right now its just an inside bar on the daily tym frame we have to wait for a break out either up or down
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