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USD/JPY Discussion

  • #42,481
  • Feb 1, 2014 5:21pm Feb 1, 2014 5:21pm
Quoting card
I don't have any open positions going into the weekend. I'll watch what happens when we open Sunday night.
Me too. It should be interesting.
Please check out my blog at https://from-zero-to-hero . net
  • #42,482
  • Feb 1, 2014 5:48pm Feb 1, 2014 5:48pm
Friday 07/02/2014 USD / JPY 105.00
Attached Image
  • #42,483
  • Feb 1, 2014 10:21pm Feb 1, 2014 10:21pm
I wouldn't get your hopes up with the JPY losing strength for a while. i think we'll break 100 and hit the 90 area soon
  • #42,484
  • Feb 1, 2014 11:18pm Feb 1, 2014 11:18pm
Quoting allisonmagic
I wouldn't get your hopes up with the JPY losing strength for a while. i think we'll break 100 and hit the 90 area soon
What makes you say this?
  • #42,485
  • Feb 2, 2014 1:46am Feb 2, 2014 1:46am
Quoting allisonmagic
I wouldn't get your hopes up with the JPY losing strength for a while. i think we'll break 100 and hit the 90 area soon

Hello YEN Masters

YEN has a way of catching the punters out

But we know it can crawl back to 105+

I am still holding longs for now,to 105+TP

The EUR/YEN came back lower then I thought
  • #42,486
  • Feb 2, 2014 2:01am Feb 2, 2014 2:01am
Quoting eliteincome
{quote} Hello YEN Masters YEN has a way of catching the punters out But we know it can crawl back to 105+ I am still holding longs for now,to 105+TP The EUR/YEN came back lower then I thought

what is your stop loss?
  • #42,487
  • Feb 2, 2014 2:27am Feb 2, 2014 2:27am
Quoting Razi89
{quote} what is your stop loss?

Hi Raz

Small trades starting 102

Not adding to longs at this stage

I like to keep this chart only for taking longs.

Been shorting EUR/YEN

Different trading styles,I can wait as the trades are small

We will soon find next week
  • #42,488
  • Feb 2, 2014 3:31am Feb 2, 2014 3:31am
I'm bull on the yen as I'm bull on gold, but first there should be a correction.
USDJPY should go back to 102.8/103.3 before falling further.
XAUUSD should go back to 1210/1225 before rising further.
  • #42,489
  • Feb 2, 2014 3:53am Feb 2, 2014 3:53am
Quoting trexy123
{quote} What makes you say this?

here's a good article you can read

http://www.dailyfx.com/forex/fundame...medium=twitter
  • #42,490
  • Feb 2, 2014 3:59am Feb 2, 2014 3:59am
Quoting eliteincome
{quote} Hi Raz Small trades starting 102 Not adding to longs at this stage I like to keep this chart only for taking longs. Been shorting EUR/YEN Different trading styles,I can wait as the trades are small We will soon find next week

thanks
  • #42,491
  • Feb 2, 2014 7:44am Feb 2, 2014 7:44am
USDJPY Outlook & Trade Setup for the week 3rd - 7th February 2014

Monthly Chart

http://3.bp.blogspot.com/-j6v0iayc19...2-02_19-02.jpg


  1. Rejection from the 61.8% retrace + Trendline
  2. Negative divergence in stochastic



Weekly Chart

http://2.bp.blogspot.com/-Eg5SMl_GSB...2-02_19-02.jpg

  1. Last week candle is negative
  2. We have a steep ascending trendline
  3. Stochs should have divergence when support is found


Daily Chart

http://3.bp.blogspot.com/-CCrOf31qSi...2-02_19-02.jpg

  1. Daily candle closed the day lowest of the week
  2. Please note to also look at ichimoku indicator on yen pairs, - you will see we are trading in the clouds,, and that the bottom of the clouds is where my blue buy zone is. Also the lines are becoming horizontal which have higher chance for price to attract higher.



Hourly Chart




http://2.bp.blogspot.com/-3UnNfWObn1...2-02_19-02.jpg


  1. Buy setup as shown on chart


Outlook Trade opportunity

Long setup is shown on Hourly chart, - could wait for price action to confirm before entering or using pending buys. - Please note to take profits / partials when we get 2x reward to risk.

Risk Level Low


Tips -

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

Only the strong survives!
  • #42,492
  • Feb 2, 2014 8:05am Feb 2, 2014 8:05am
Htsang, Thanks for analysis, this confirms the situation!
  • #42,493
  • Feb 2, 2014 2:43pm Feb 2, 2014 2:43pm
Quoting Nilfmonkey
{quote} The rsi can stay in oversold/bought territory for a while without reversal, so I myself wouldn't give it much weight in this case. what do you think?
well rsi coming out of oversold in an uptrend is definitely a bullish sign.
but you are correct it can stay overbought/oversold no guarantee of reversal.
the h4 chart just confirmed what I was seeing on daily.
we will see if price moves up from here or not.
  • #42,494
  • Feb 2, 2014 2:50pm Feb 2, 2014 2:50pm
Quoting htsang
USDJPY Outlook & Trade Setup for the week 3rd - 7th February 2014 Monthly Chart {image} Rejection from the 61.8% retrace + Trendline Negative divergence in stochastic Weekly Chart {image} Last week candle is negative We have a steep ascending trendline Stochs should have divergence when support is found Daily Chart {image} Daily candle closed the day lowest of the week Please note to also look at ichimoku indicator on yen pairs, - you will see we are trading in the clouds,, and that the bottom of the clouds is where my blue buy zone is. Also the...
nice charts.
i agree monthly chart is looking bearish right now.
although I have a long trade for the shorter term hoping this is the bottom for now.
  • #42,495
  • Feb 2, 2014 3:17pm Feb 2, 2014 3:17pm
Quoting eliteincome
{quote}... The EUR/YEN came back lower then I thought
say that again....!
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #42,496
  • Feb 2, 2014 3:36pm Feb 2, 2014 3:36pm
Quoting allisonmagic
{quote} here's a good article you can read http://www.dailyfx.com/forex/fundame...medium=twitter
That was an uncharacteristically useful article from DailyFX.
Let's hope that this week BoJ finds some reason to procure Yen.
Also there is allegedly an interest in Euro-bonds and Euro-stocks from Japan.
Spanish, Irish and Italian bonds are seen less risky of late.
...the stocks might need some help.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #42,497
  • Feb 2, 2014 3:38pm Feb 2, 2014 3:38pm
uncharacteristically useful ? lol good one
  • #42,498
  • Feb 2, 2014 5:07pm Feb 2, 2014 5:07pm
Time to sell U/J. Stop above last week's high is pretty safe. Going to take some time for bulls to regain control if this is still an uptrend.
Twitter: @zusch_ -- Preselecting trending pairs, stocks on a weekly basis.
  • #42,499
  • Feb 2, 2014 6:52pm Feb 2, 2014 6:52pm
It appears to me that there is a wedge forming on the H1 for a test of the 102 level - can any of you more experienced traders share your wisdom?
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  • #42,500
  • Feb 2, 2014 7:03pm Feb 2, 2014 7:03pm
i'm gonna hammer the usdjpy right now. i took some positions a little too early but only lost a little bit. less than $20, no big deal. i was a bit premature but now i'm gonna hammer this bitch to the ground
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