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USD/JPY Discussion

  • #42,361
  • Jan 30, 2014 7:27am Jan 30, 2014 7:27am
I went all in at 102.00 with a SL 101.6 yesterday. And some peoples are long and some are short. Will the data release in few minutes to rocket or free fall, Good luck to you all.
  • #42,362
  • Jan 30, 2014 7:33am Jan 30, 2014 7:33am
Closed my Long. Going short.
  • #42,363
  • Jan 30, 2014 7:37am Jan 30, 2014 7:37am
I think thats too early
  • #42,364
  • Jan 30, 2014 7:38am Jan 30, 2014 7:38am
Long at 102.65
  • #42,365
  • Jan 30, 2014 7:41am Jan 30, 2014 7:41am
Quoting MrketSniper
Closed my Long. Going short.
My SL is only 20 pips 102.80.

The Chinese are having their Chinese New Year. The market really can't move well without them.
  • #42,366
  • Jan 30, 2014 7:46am Jan 30, 2014 7:46am
Quoting MrketSniper
Closed my Long. Going short.
you should stick to your first analysis/ instinct and only change directions after forming a plan and maybe writing it out. When you look at the analysis to go short (I placed the simple moving averages swing traders use over my naked charts) If you are swing trading this, after the first swing down ...the second swings projectory should get down to the 100.70 zone. As we can see it never had a chance but made a higher low which signals that the bearish downtrend is waning.

The next major resistance is at the 103.30 zone and maybe thats where the next major decision will be made. Granted with the news coming out anything could have happened and hindsight is 20/20...just wanted to input the reasons for both sides of the trade
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  • #42,367
  • Jan 30, 2014 9:11am Jan 30, 2014 9:11am
So right now we are retesting what was initially resistance at 102.50 to support. I have included the 60 EMA and if this breaks down through this , we may have to reanalyze this position as it becomes less tenable than anticipated.
This is the 15 min chart
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  • #42,368
  • Jan 30, 2014 9:23am Jan 30, 2014 9:23am
Good luck guys im done for the day all trades in the hands of the market. Cheers and happy piphunting
  • #42,369
  • Jan 30, 2014 9:24am Jan 30, 2014 9:24am
buy limit at 102.17
  • #42,370
  • Jan 30, 2014 10:23am Jan 30, 2014 10:23am
Supply and demand level this week at 102.79. We will see if the bulls can take it up to the next zone of 103.33.
  • #42,371
  • Jan 30, 2014 12:17pm Jan 30, 2014 12:17pm
looks like usd/jpy is leaving without me
  • #42,372
  • Jan 30, 2014 12:28pm Jan 30, 2014 12:28pm
German daily fx analysts say that US taper should already be priced in, jpy still safe haven, so probably no rescue for usd/jpy at the moment. Ahead of data I think, price might also drop.
Fix up, trade sharp ...
  • #42,373
  • Jan 30, 2014 12:41pm Jan 30, 2014 12:41pm
http://imgur.com/mwnJfIN hns still in play
  • #42,374
  • Jan 30, 2014 1:03pm Jan 30, 2014 1:03pm
Hey guys. USD/JPY: 0,5% risk sell activated @ 102,70. SL @ 103,00.

Good luck all!
Twitter: MrC_Forex ; Facebook: /pages/MrC-Forex/197693770247397
  • #42,375
  • Edited 2:26pm Jan 30, 2014 1:07pm | Edited 2:26pm
Downward Trend continues...

104.60 seems so insignificant and far way now ... Lol!
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  • #42,376
  • Jan 30, 2014 2:18pm Jan 30, 2014 2:18pm
Quoting todstars2
Downward Trend continues... 104.60 seems so insignificant and far way now ... Lol!
Hi folks, anyway we are yet to hit first target before thinking about 104. 50 or there about. Unfortunately I do not have the solvency banks do to stay in this trade for a long time as Ill need to liquidate position by friday close. Also because im in this trade im stuck trading the cable and Euro pairs excluding all yen crosses as I do not like to trade running pairs at the same time for example Eur/Jpy and Usd/Jpy. I would leave a neglible amount in this trade and post it from time to time for your pleasure. Im almost curious to know how long this will take before it comes down to 101.75
  • #42,377
  • Edited 5:06pm Jan 30, 2014 2:31pm | Edited 5:06pm
Quoting IveGotQuads
{quote} Hi folks, anyway we are yet to hit first target before thinking about 104. 50 or there about. Unfortunately I do not have the solvency banks do to stay in this trade for a long time as Ill need to liquidate position by friday close. Also because im in this trade im stuck trading the cable and Euro pairs excluding all yen crosses as I do not like to trade running pairs at the same time for example Eur/Jpy and Usd/Jpy. I would leave a neglible amount in this trade and post it from time to time for your pleasure. Im almost curious to know how...

Got some bouncing around in there to do before it makes up its mind, no doubt.

Will take a while either way, likely ;-)
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  • #42,378
  • Jan 30, 2014 2:31pm Jan 30, 2014 2:31pm
still bearish
  • #42,379
  • Jan 30, 2014 2:34pm Jan 30, 2014 2:34pm
Another interesting point to note is that Unemployment claims news and pending home sales both price moving news came out negatively for the Usd yet there wasnt a sell off of the Usd/Yen adding more strength to the energy building up in this pair upwards. ( I use news to gauge the strength of a move) If the news had been able to shift price downwards then the bull strength wasnt strong enough to begin with. Cheers....FYI I am not married to this position and if theres enough reasons to go short , trust ill be the first to change trades
  • #42,380
  • Jan 30, 2014 2:43pm Jan 30, 2014 2:43pm
Quoting todstars2
{quote} Got some bouncing around in there to do before it makes up its mind, no doubt. Will take a while either way, likely ;-)
Long term price action trades takes time to build up and probably takes days and weeks for price to go from a zone to another . (Especially 200- 300 pip zones ) But 1 thing is for certain, when Price is at extreme ends and there was a sharp reversal ...more often than likely theres a high probability that we will not be seeing that price (101.75 ) in a very very long time .
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