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USD/JPY Discussion

  • #42,401
  • Jan 31, 2014 4:43am Jan 31, 2014 4:43am
If you looking to get long even if its just short term, now is the time to look for long entry at the close of this 15 min candle.And if you went short from earlier maybe taking some profits wont hurt .
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  • #42,402
  • Jan 31, 2014 4:47am Jan 31, 2014 4:47am
pretty standard short term buy for me.
but considering where we are on daily, could be a hl in uptrend so might hold.
do you guys think usd/jpy is going up ?
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  • #42,403
  • Jan 31, 2014 4:53am Jan 31, 2014 4:53am
Quoting wannabtrader
pretty standard short term buy for me. but considering where we are on daily, could be a hl in uptrend so might hold. do you guys think usd/jpy is going up ? {image} {image}
Depends on your system ...if you get long entry signals then its fine but i prefer to wait a little more as right now from experience price tends to meander about, Like a little consolidation. So i prefer to wait till 7:30 ish to 8am Est. might not get a perfect entry price then but the risks are low and theres more liquidity and momentum in the market
  • #42,404
  • Jan 31, 2014 5:06am Jan 31, 2014 5:06am
Quoting IveGotQuads
{quote} Depends on your system ...if you get long entry signals then its fine but i prefer to wait a little more as right now from experience price tends to meander about, Like a little consolidation. So i prefer to wait till 7:30 ish to 8am Est. might not get a perfect entry price then but the risks are low and theres more liquidity and momentum in the market
I am more of a short term range trader, so buying / selling in trends is not my specialty.
thank you for your advice, I will take a long at 102.17 but it might be too early to buy like you said.
  • #42,405
  • Jan 31, 2014 5:09am Jan 31, 2014 5:09am
I see a nice Head&Shoulder in 5 min graph. Let see if it works or not.

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  • #42,406
  • Jan 31, 2014 5:28am Jan 31, 2014 5:28am
What we need to see is a decoupling of U/J from Euro. Deflation in the Eurozone means printing more Euros to bail out the banks, as well as some odd interest rate moves from Mario Draghi.

That is going to be Euro negative, which should be dollar positive. Price movement won't be just a matter of "risk-on/risk-off" for a while as the currencies re-adjust and come back to equilibrium.
It's going to be weird for a while, I am afraid.

  • #42,407
  • Jan 31, 2014 5:42am Jan 31, 2014 5:42am
and im in at 102.17
  • #42,408
  • Jan 31, 2014 6:00am Jan 31, 2014 6:00am
Quoting wannabtrader
and im in at 102.17

Lets hope she comes up now!
  • #42,409
  • Jan 31, 2014 6:00am Jan 31, 2014 6:00am
Quoting wannabtrader
and im in at 102.17

You're in?

And what does that mean, exactly?
  • #42,410
  • Jan 31, 2014 6:07am Jan 31, 2014 6:07am
Quoting Orly
{quote} You're in? And what does that mean, exactly?
took a long at 102.17.
you can see the charts I posted about an hour ago.
  • #42,411
  • Jan 31, 2014 6:09am Jan 31, 2014 6:09am
Quoting Rizmeister
{quote} Lets hope she comes up now!
rizmeister, good to see you are still lurking in usd/jpy
yes, lets hope she does, im praying she does.
  • #42,412
  • Jan 31, 2014 6:23am Jan 31, 2014 6:23am
Seeing this down to 101,50 at least
  • #42,413
  • Jan 31, 2014 6:25am Jan 31, 2014 6:25am
Quoting wannabtrader
and im in at 102.17
nice trade. great price...for now atleast

nikkei bouncing off support. if this carries...should have some nice room upwards on uj
  • #42,414
  • Jan 31, 2014 6:37am Jan 31, 2014 6:37am
Quoting pursuit_21
{quote} nice trade. great price...for now atleast nikkei bouncing off support. if this carries...should have some nice room upwards on uj
thank you.
good price on h4 but also good to know usd/jpy in in an uptrend on daily, upward momentum can only help a long here.
  • #42,415
  • Jan 31, 2014 6:37am Jan 31, 2014 6:37am
Quoting IveGotQuads
once Usd/Jpy comes down to 102.00 - 102.30 and Gbp/jpy comes down to 168.20 or 167.89 especially if this happens during the US session the bullish momentum is going to be violent
So we have had Gbp/Jpy come down to 168.17 and Usd/jpy down to 102.08 all we have to do now is look for a good long entry point, while reducing risk potential. cheers I shall be with you looking for entry too
  • #42,416
  • Jan 31, 2014 6:44am Jan 31, 2014 6:44am
Quoting wannabtrader
{quote} took a long at 102.17. you can see the charts I posted about an hour ago.
Thats a nice entry point , albeit aggressive. But Im liking your conviction
  • #42,417
  • Jan 31, 2014 6:46am Jan 31, 2014 6:46am
i went long UsdJpy think s1 has sufficient demand to hold the previous low of 101.86 lvl
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  • #42,418
  • Edited 6:56am Jan 31, 2014 6:53am | Edited 6:56am
Added some more to my position , buy order at 102.36. Thats my last trade for the week . Cheers guy and good luck
Disclaimer : popular Trading consensus adds that you shouldnt add to a losing position and in some instances its the right move. Initially I risked just 0.6% so adding to it is just about 1.2% and Im ok with the risk.
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  • #42,419
  • Jan 31, 2014 6:56am Jan 31, 2014 6:56am
Quoting edindzeko
Seeing this down to 101,50 at least
Please provide analysis for your claims before posting. There are many impressionable people on these forums, some who would carry a trade based off of it(sadly). 101.5 area will be hard to reach due to the support above. Not only that we have bottomed from the looks of it. The 102 region could be tested a few more times and it is late in the week and still I dont see it reaching that level.
  • #42,420
  • Jan 31, 2014 6:58am Jan 31, 2014 6:58am
Quoting IveGotQuads
{quote} Thats a nice entry point , albeit aggressive. But Im liking your conviction
thank you.
short term I think it is a fairly safe trade for a small bounce.
looking at daily chart i think anything is possible.
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