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USD/JPY Discussion

  • #42,581
  • Feb 3, 2014 12:12pm Feb 3, 2014 12:12pm
Quoting Boy Wonder
{quote} Sorry, I'm not sure what you mean.
i mean there is still no bull in sight.
  • #42,582
  • Feb 3, 2014 12:16pm Feb 3, 2014 12:16pm
Quoting Pharm0r
{quote} i mean there is still no bull in sight.
And how would you know that to be true?
I have no clue what I'm talking about.
  • #42,583
  • Feb 3, 2014 12:23pm Feb 3, 2014 12:23pm
Quoting Boy Wonder
{quote} And how would you know that to be true?

The bull is strong for the Yen right now
No Yen bears are stepping in considerably yet. 100 maybe?

I stick to 5-20 pip moves though , i cant forecast
  • #42,584
  • Feb 3, 2014 12:28pm Feb 3, 2014 12:28pm
I am sure that this will go down further in the next two hours. Even the retracement looks like it cannot really get up under the heavy pressure of new bears jumping into the party.
Fix up, trade sharp ...
  • #42,585
  • Feb 3, 2014 12:30pm Feb 3, 2014 12:30pm
NIKKEI is at important level - break of 14000 will LEAD usdjpy towards 98.95 area but i bet stock are going to have a pullback @ Asian Session.
im long from 100.86-87 with 3 lots.
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Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #42,586
  • Feb 3, 2014 12:37pm Feb 3, 2014 12:37pm
Quoting nobodysman
{quote} Still holding all of my 104.30 shorts. Very close to my target 100-101 range. Will close half of the position around 100.30. I was expecting 400-500 pips till end of March. That was way fast. A sign of strong bear market. I decided to hold other half of my positions by moving my SL to 103.50. My SL will move down as long as bearish stock market trend continues and UJ continues to go down.
Great man,

I don;t know what happens to me, but whenever I let profit run it always reversed against me and when I took profits it would used to run afterwards,

I would love to see 400-500 unrealized pips on my account LOL
kiss the trend
  • #42,587
  • Feb 3, 2014 12:42pm Feb 3, 2014 12:42pm
Quoting eqshack
NIKKEI is at important level - break of 14000 will LEAD usdjpy towards 98.95 area but i bet stock are going to have a pullback @ Asian Session. im long from 100.86-87 with 3 lots. {image}
I was looking at the exact same thing. I'm lacking the conviction you have though. I only picked up a lot here, but if I see price become stable I'll pick up some more.
"A true speculator tries the market small." - Jesse Livermore
  • #42,588
  • Feb 3, 2014 12:43pm Feb 3, 2014 12:43pm
USJPY is experiencing critical 101.00 level. A h4 candle close below 101.00 will give the next short signal entry. and above it long
  • #42,589
  • Feb 3, 2014 12:45pm Feb 3, 2014 12:45pm
Quoting eqshack
NIKKEI is at important level - break of 14000 will LEAD usdjpy towards 98.95 area but i bet stock are going to have a pullback @ Asian Session. im long from 100.86-87 with 3 lots. {image}

14165 now.
Fix up, trade sharp ...
  • #42,590
  • Feb 3, 2014 12:48pm Feb 3, 2014 12:48pm
if we don't break 100 lower, we should see 100.10 - 20


that's just near term. on the high TF's you can see we started a whole new trend
  • #42,591
  • Feb 3, 2014 1:00pm Feb 3, 2014 1:00pm
Quoting Jgcole83
{quote} I was looking at the exact same thing. I'm lacking the conviction you have though. I only picked up a lot here, but if I see price become stable I'll pick up some more.
Alright I'm in with 3 lots as well.
"A true speculator tries the market small." - Jesse Livermore
  • #42,592
  • Feb 3, 2014 1:01pm Feb 3, 2014 1:01pm
Quoting Jgcole83
{quote} Alright I'm in with 3 lots as well.
lol nice..im thinking about adding 5 more but i dont know yet i usually play with 5-8lots. If she goes down again to 100.90 then ill get few more ( i hope not )

we are the whales are as i see..lol
Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #42,593
  • Feb 3, 2014 1:01pm Feb 3, 2014 1:01pm
Quoting Jgcole83
{quote} {quote} Where you looking at fib levels on the weekly? I see some support at 101, but it could drop to 100. {image}
It's going to correct lower, IMO. I know there were some naysayers (Alexii), but the weekly chart did show the downside and combined it with fundamentals. Fortunately with my experience, I noticed the rounding resistance USDJPY had above 105. It was weak. Since the beginning of the year, yen has been on fire. And USDJPY will still go down if the dollar and yen are both up.

Primarily, the yen would increase as equities rollover (which they currently are). Not disregarding other analysis, cause there are a few great analysts here, but a perfect storm was brewing. Sell the rallies have down well so far.

The weekly posted on 1/10 says bullish target at 99.75 instead of bearish, but we get the point.
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When the facts change I change my mind, what do you do sir
  • #42,594
  • Feb 3, 2014 1:02pm Feb 3, 2014 1:02pm
Nikkei make or break

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  • #42,595
  • Feb 3, 2014 1:12pm Feb 3, 2014 1:12pm
Quoting Ken A
Nikkei make or break {image}
Hi Ken, good to see you. Can you explain to me as a Forex beginner why the break of the 1400 in Nikkei would be such a big thing for the yen to rally further against the usd?
Fix up, trade sharp ...
  • #42,596
  • Edited 1:26pm Feb 3, 2014 1:13pm | Edited 1:26pm
Quoting Hickson
{quote} Hi Ken, good to see you. Can you explain to me as a Forex beginner why the break of the 1400 in Nikkei would be such a big thing for the yen to rally further against the usd?
That's the mid. Break of that level indicating further down slide for U/J and all XXX/JPY crosses.

Stay away from buy button until some good news to reverse risk aversion

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  • #42,597
  • Feb 3, 2014 1:21pm Feb 3, 2014 1:21pm
Quoting Jgcole83
{quote} Alright I'm in with 3 lots as well.
i got 5 lots open..If we go above 101.04 area then ill set SL @ BE
right now stoploss under daily low
Early to bed, early to rise, keeps you healthy, wealthy and wise.
  • #42,598
  • Feb 3, 2014 1:23pm Feb 3, 2014 1:23pm
Quoting Ken A
{quote} That's the mid. Break of that level indicating further down slide for U/J and all XXX/JPY crosses. Stay away from buy button until some good news to reverse risk aversion

Thanks. Do not worry about me, I am short from 101,53
Fix up, trade sharp ...
  • #42,599
  • Feb 3, 2014 1:33pm Feb 3, 2014 1:33pm
Quoting Hickson
{quote} Thanks. Do not worry about me, I am short from 101,53
Critical level for U/J

Attached Image
  • #42,600
  • Feb 3, 2014 2:51pm Feb 3, 2014 2:51pm
I took profit and will look for a retracement to be back tomorrow. Gn8.
Fix up, trade sharp ...
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