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USD/JPY Discussion

  • #41,761
  • Jan 17, 2014 3:07pm Jan 17, 2014 3:07pm
Quoting suntan
{quote} Hi Sean, Is there any reason why you trade Globex futures as opposed to OTC? cheers Andrew


Yes,

I have no access to the OTC options marketplace, but even if I did, I would still trade using the exchange model – it provides superior regulation, security and margin (via SPAN).

The benefits of the OTC options marketplace, and there are some, don’t really apply to my trading style.
  • #41,762
  • Jan 17, 2014 3:31pm Jan 17, 2014 3:31pm
Quoting Rizmeister
This pair did shit today for me. Waste of my time. Have a nice weekend. To be honest this forum has gotten quite boring..

You must be patient.. Every year 2-4 opportunities will arise. In reality all you need is one good one and you are set. Wait and be patient, a good should arise at one point or another. Might get quiet these next few weeks with Chinese going on holiday for Chinese New Years.
  • #41,763
  • Jan 17, 2014 3:34pm Jan 17, 2014 3:34pm
Agreed! I have had an awesome start of the new year.
  • #41,764
  • Jan 17, 2014 8:39pm Jan 17, 2014 8:39pm
Might be range bound for a little while imho.
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"A true speculator tries the market small." - Jesse Livermore
  • #41,765
  • Jan 18, 2014 4:41am Jan 18, 2014 4:41am
Quoting seandean
{quote} Yes, I have no access to the OTC options marketplace, but even if I did, I would still trade using the exchange model – it provides superior regulation, security and margin (via SPAN). The benefits of the OTC options marketplace, and there are some, don’t really apply to my trading style.
Thanks Sean.

Sorry for all the questions but could you please elaborate on the benefits of OTC or point me in the direction of where I can source the info for myself?

I've recently started writing options and I have access to both Globex and OTC but currently only use OTC.

Have a good weekend.
Andrew
  • #41,766
  • Jan 19, 2014 2:29am Jan 19, 2014 2:29am
Quoting Rizmeister
This pair did shit today for me. Waste of my time. Have a nice weekend. To be honest this forum has gotten quite boring..
Hello Riz

To say the forum is boring would be unfair to the people who try an post to keep things moving along.

US/JPY has stalled for quiet a few days now.

Once it moves the punters will be back enforce trying to nut out what hell is going on.:nerd:
  • #41,767
  • Edited 12:50pm Jan 19, 2014 12:40pm | Edited 12:50pm
Little gap down u/j now trade at 104
  • #41,768
  • Jan 19, 2014 1:23pm Jan 19, 2014 1:23pm
Quoting 3ckune
Little gap down u/j now trade at 104
is there a gap on eur/usd??
  • #41,769
  • Jan 19, 2014 1:34pm Jan 19, 2014 1:34pm
Not realy 1,3540 & 1,6408
  • #41,770
  • Jan 19, 2014 4:41pm Jan 19, 2014 4:41pm
Quoting Rizmeister
{quote} I know right...USD strengthens bigtime EUR drops to hell and no movement. Its following the eur/jpy. Its a joke.
Strange things happen on Friday......
I think EUR went down against most things, EJ followed EU - or maybe as you said.
GBP went up quite a lot against USD, however..... USD strengthened against CHF and NZD, only a bit against AUD.
UJ held totally flat.

,,,and yet, gold went up 1% which is completely at odds with a strong dollar.
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  • #41,771
  • Jan 19, 2014 5:53pm Jan 19, 2014 5:53pm
Yeah, Friday was a strange day, especially for G/U... which I was watching. I actually had 0.01 lots on (the smallest possible) just so I could watch it, and ended up making 120 pips in like 6 hours. LOL.

Anyways, regardless of Friday's action, it is a new week now, and I have just going long U/J. I believe the 5 minute chart is key here, as it will determine the direction for the next few hours, and it looks to me like 104.20'ish may be the bottom.

We'll see... It may go a little bit lower still but I'll keep a close eye on it.
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  • #41,772
  • Jan 19, 2014 6:23pm Jan 19, 2014 6:23pm
Lets see where this goes
  • #41,773
  • Jan 19, 2014 6:33pm Jan 19, 2014 6:33pm
First test of PA to the 104.00 level and it held support, but if this one doesn't hold i'm going from a Bullish point of view to a Neutral one on this pair. What do y'all see?! (oh yeah, and i still ain't got an open position on USD/JPY)
  • #41,774
  • Jan 19, 2014 6:56pm Jan 19, 2014 6:56pm
I for one am looking for at least 103.40. Based on a a simple channel break idea

Olu
If you think you can or cannot do it you are correct
  • #41,775
  • Jan 19, 2014 7:07pm Jan 19, 2014 7:07pm
Hmm
  • #41,776
  • Jan 19, 2014 7:15pm Jan 19, 2014 7:15pm
Quoting Olu
I for one am looking for at least 103.40. Based on a a simple channel break idea Olu

Yes sir, i hear ya. That level is also the same as the 23.6% retracement of the action that took price from the 96.93 (2013/10/25) to the top at 105.40 (2013/12/30), the same 103.40!!! I'm staying on the sideline for now, it's a waiting game, this one is...
  • #41,777
  • Jan 19, 2014 7:50pm Jan 19, 2014 7:50pm
Short @ 104.17 (from consolidation).

Broken weekly pivot @ 103.99
Weekly S1 pivot @ 103.08

Best of trading
When the Joker is in the deck.. fear not and play it well
  • #41,778
  • Jan 19, 2014 8:05pm Jan 19, 2014 8:05pm
What happen to USD/JPY that 15pips bounce in few minutes?
  • #41,779
  • Jan 19, 2014 8:08pm Jan 19, 2014 8:08pm
China. Lets see if the bulls can take control here over 104
  • #41,780
  • Jan 19, 2014 9:54pm Jan 19, 2014 9:54pm
Hello US/JPY

Read this FXCM

Have a few longs under water

So will be a we bit carefull,not to load up to much in case it drops a donut

The USDJPY Elliott wave position identifies support between 104.00 and 103.00, which is setting up a rally towards 106.00.


The trade for next week is as follows:

  1. Trade Entry: Buy USDJPY at 104.00
  2. Stop Loss: Place stop at 103.00
  3. Initial Target: 106.00
  4. Intermarket Analysis: Be sure to confirm US bond yields are indeed rallying before trading

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