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USD/JPY Discussion

  • #42,161
  • Jan 26, 2014 10:56pm Jan 26, 2014 10:56pm
Quoting Jgcole83
{quote} I've actually been trading geppy more recently just because of how it moves. I think we probably have different trading styles though.
All what you get used to.

I prefer the USD crosses...I can hit heavy n fast and not have to worry.

Might leave a little bit on the table, but as long as I meet quota...all good.

I'd be interested in having a look at your charts on Gep. Drop a brother a line, lemme see what you are looking at.

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  • #42,162
  • Jan 26, 2014 10:57pm Jan 26, 2014 10:57pm
Quoting Magix
{quote} All what you get used to. I prefer the USD crosses...I can hit heavy n fast and not have to worry. Might leave a little bit on the table, but as long as I meet quota...all good. I'd be interested in having a look at your charts on Gep. Drop a brother a line, lemme see what you are looking at.
Will do
"A true speculator tries the market small." - Jesse Livermore
  • #42,163
  • Jan 26, 2014 11:30pm Jan 26, 2014 11:30pm
USDJPY Forecast for the week 27th Jan, 2014
Daily Chart
http://3.bp.blogspot.com/-__bQIITUW7...1-26_21-56.jpg
Last week my view was bullish due to the bullish engulfing candle formed, However we are clearly in a short term bearish run / correction.


  1. Ascending trend line is near
  2. On yen pairs, using ichikumo indicator is ideal, and if you put it on the daily chart, we are hitting the clouds / supports/ and the 101.300 approx is in the clouds
  3. On the chart, there are two support levels to look for trades

4 Hourly Chart
http://3.bp.blogspot.com/-T7DuLHR03Z...1-26_21-56.jpg

Hourly Chart

http://3.bp.blogspot.com/-pl3Xtd-mVg...1-26_21-56.jpg

  1. After breaking support, We would be looking to sell on the retest which now is resistance.
  2. The next level of support is drawn on the hourly where a possible bounce scalp is possible / also shown on 4hr chart

Outlook Trade opportunity
There are three possible trades
2 are shown on 4hr chart
2 are shown on 1hr chart, however one of the trades are a repeat of the 4hr chart


Risk Level - Medium

Tips -
Always take note of any economical news event on our provided calender below

Only the strong survives!
  • #42,164
  • Jan 26, 2014 11:45pm Jan 26, 2014 11:45pm
Quoting htsang
USDJPY Forecast for the week 27th Jan, 2014 Daily Chart {image} Last week my view was bullish due to the bullish engulfing candle formed, However we are clearly in a short term bearish run / correction. Ascending trend line is near On yen pairs, using ichikumo indicator is ideal, and if you put it on the daily chart, we are hitting the clouds / supports/ and the 101.300 approx is in the clouds On the chart, there are two support levels to look for trades4 Hourly Chart {image} Hourly Chart {image} After breaking support, We would be looking to sell...

Thanks. Nice charting
  • #42,165
  • Jan 27, 2014 12:22am Jan 27, 2014 12:22am
All my charts are telling me long. But my 5 is saying dippiditty doo. Maybe I'm wrong.
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  • #42,166
  • Jan 27, 2014 12:24am Jan 27, 2014 12:24am
oops wrong chart, but i'm still short.
  • #42,167
  • Jan 27, 2014 12:26am Jan 27, 2014 12:26am
maybe
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  • #42,168
  • Jan 27, 2014 1:09am Jan 27, 2014 1:09am
oops but resistance. endure?
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  • #42,169
  • Jan 27, 2014 1:10am Jan 27, 2014 1:10am
sometimes i think i spend too much time focus on this pair, and miss the great opportunity to short (especially) eur/usd, and eur/jpy (waiting for 140.7:-141.2 to go short again) usd/jpy range i think this year has nothing to offer and most probably "sleep" in a range (95-97 to 104-106)
cause american and japanese are alliance and their economy not too much competitive eachother than japanese vs europeans or vs chinese
althought great for long time scalping, risky if you are more long time trader to get a good entry point
  • #42,170
  • Jan 27, 2014 1:12am Jan 27, 2014 1:12am
Quoting smash1820
just wondering if any of you are paying attention to the JPY trade balance data that just came out? i usually don't pay attention to this type of news, but i thought i'd ask anyway. data came in better than expected which, from my understanding, should result in a strengthening yen. however, it seems the market is ready to dismiss this data just as it normally does, and hence, a continued push higher. disclaimer: i am long. and this is also why i would never trade off of the fundamentals alone!
This (balance of trade) data is one of the fundamentals driving the currency. It is the same for all currencies and is for instance one of the reasons why the Euro keeps going up when everybody seems to think it should go down.

For me the important metric is not that one print is negative, or misses the consensus target, it is the fact that since mid-2011 all the trade balance data has been negative and gradually the deficit is becoming larger.
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  • #42,171
  • Jan 27, 2014 1:52am Jan 27, 2014 1:52am
nice opportunity to go short here, sell stop order at 102.48
  • #42,172
  • Jan 27, 2014 1:59am Jan 27, 2014 1:59am
Quoting IveGotQuads
nice opportunity to go short here, sell stop order at 102.48

where you gonna risk it to if you get hit, the high of this swing?
Look Sharp/Trade Tight
  • #42,173
  • Jan 27, 2014 2:04am Jan 27, 2014 2:04am
Quoting PayTheLimit
{quote} where you gonna risk it to if you get hit, the high of this swing?
This is showing more momentum to the upside than originally planned. Ill have to readjust position size and stop loss. But im still looking for short entry as long as we dont retrace past the 50 fib zone
  • #42,174
  • Jan 27, 2014 2:07am Jan 27, 2014 2:07am
Quoting IveGotQuads
{quote} This is showing more momentum to the upside than originally planned. Ill have to readjust position size and stop loss. But im still looking for short entry as long as we dont retrace past the 50 fib zone

I'm looking at the 102.85/95 area, above there I'll wait for 103.35 or so...just took a loss in EY, so I'm trying to pick my next spot a tad more carefully..gl
Look Sharp/Trade Tight
  • #42,175
  • Jan 27, 2014 2:08am Jan 27, 2014 2:08am
Basic text book set-up. price Gets to the 50 sma ...zoom into shorter time frame and look to short after pull-back continuation pattern confirmation
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  • #42,176
  • Jan 27, 2014 2:10am Jan 27, 2014 2:10am
Quoting PayTheLimit
{quote} I'm looking at the 102.85/95 area, above there I'll wait for 103.35 or so...just took a loss in EY, so I'm trying to pick my next spot a tad more carefully..gl
Ahh I see , sorry about that. what a way to start the week. Yeah I wrote down my trade plan for the E/J but I try not to get into trades with News coming in 2 hrs.
  • #42,177
  • Jan 27, 2014 3:02am Jan 27, 2014 3:02am
Quoting IveGotQuads
nice opportunity to go short here, sell stop order at 102.48
good call
  • #42,178
  • Jan 27, 2014 3:26am Jan 27, 2014 3:26am
Quoting kweiss10
{quote} good call
thx, just waiting for tp1 at 102.05. hopefully no random spikes to shake the trade out. Always good to bank some pips on monday (imo the hardest day to trade)
  • #42,179
  • Jan 27, 2014 3:43am Jan 27, 2014 3:43am
Quoting IveGotQuads
{quote} thx, just waiting for tp1 at 102.05. hopefully no random spikes to shake the trade out. Always good to bank some pips on monday (imo the hardest day to trade)
looks like a random spike. I was hoping to see 102.25 but not sure now.
  • #42,180
  • Jan 27, 2014 3:44am Jan 27, 2014 3:44am
if bulls were to trap the bears i hope 103. 7X would not be too far up. Lets see what pa does in the next hour
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