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USD/JPY Discussion

  • #42,861
  • Feb 9, 2014 5:34pm Feb 9, 2014 5:34pm
Quoting Exodus
{quote} Well you have Yen weakness from the open, need some strength on the Nikkei to keep it going. Why would activity by PBoC weaken the Yen?

hello. We have two weekly pin bar of sp500 and nikkei on important trend line,so the price can try to resume the bulllish bias and drag up the usdjpy
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  • #42,862
  • Feb 9, 2014 5:47pm Feb 9, 2014 5:47pm
Quoting Ken A
{quote} I keep adding and closing adding and closing - can't resist the momentum {image}

  • #42,863
  • Feb 9, 2014 5:56pm Feb 9, 2014 5:56pm
What momentum, Ken? There is none right now. You need volume to create momentum.
Please check out my blog at https://from-zero-to-hero . net
  • #42,864
  • Feb 9, 2014 5:57pm Feb 9, 2014 5:57pm
Quoting 81raffae
{quote} hello. We have two weekly pin bar of sp500 and nikkei on important trend line,so the price can try to resume the bulllish bias and drag up the usdjpy {image}
Nice hammers on the SPX and Nikkei, but that still does not explain why the PBoC meddling will weaken the Yen.
I am short the Yen, for a while now......
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #42,865
  • Feb 9, 2014 6:02pm Feb 9, 2014 6:02pm
Quoting Ken A
{quote} I keep adding and closing adding and closing - can't resist the momentum {image}
Excellent Ken

Me? I am just cheap bastard who happy pocketing 4 pips

Try scalping short UJ
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That which does not kill us makes us stronger
  • #42,866
  • Feb 9, 2014 6:20pm Feb 9, 2014 6:20pm
Quoting smash1820
What momentum, Ken? There is none right now. You need volume to create momentum.
I am just scalping long
  • #42,867
  • Feb 9, 2014 6:28pm Feb 9, 2014 6:28pm
Right... Tokyo is open, the current account was only $2bn down, looks like AJ will push to ~92.60, so hopefully I will wake up at 0500GMT to add another long....
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #42,868
  • Feb 9, 2014 7:11pm Feb 9, 2014 7:11pm
Quoting Trendzalore
To me looks like 101.80 to 102 is a good short term buy. Im looking at buying 101.97 with a SL at 101.39 and a TP of 104.20. 4 hour shows a momentum shift with price wanting to head back to 104.34 conversely, the 30 minute chart looks like it wants to go to 101.30. I see a probability for 102.80 then down to about 102--101.80 area then back up to 104.34 at least.
Im gonna stick with this for now.
  • #42,869
  • Feb 9, 2014 7:20pm Feb 9, 2014 7:20pm
Quoting Trendzalore
{quote} Im gonna stick with this for now.
2nd thought. The way it is moving right now im gonna change just a little bit cause it looks like 101.45 is calling first before 104.34. So......

I think I change my buy to 101.60 SL 101.20 and TP 104.20
  • #42,870
  • Feb 9, 2014 8:17pm Feb 9, 2014 8:17pm
usdjpy short for the moment.
  • #42,871
  • Feb 9, 2014 10:12pm Feb 9, 2014 10:12pm
Quoting allisonmagic
usdjpy short for the moment.
Me too. What is your avg cost and TP/ Stop loss at? Are you trying to just scalp or swing trade it?
“The chicken is only an egg’s way for making another egg.” R. Dawkins
  • #42,872
  • Feb 9, 2014 10:28pm Feb 9, 2014 10:28pm
Quoting Jason1551
{quote} Me too. What is your avg cost and TP/ Stop loss at? Are you trying to just scalp or swing trade it?

mostly swing trading. my avg cost average is somethin around $200, my ea sets the TP/SL by ATR.

it just put a short trade in. it's based on moving average crossovers, strength, speed and direction.


it got nailed on the NFP's lol.. i wanted to see what it would do, and it's no good for news events. gotta shut down for that
  • #42,873
  • Feb 9, 2014 10:45pm Feb 9, 2014 10:45pm
Quoting Jason1551
{quote} Me too. What is your avg cost and TP/ Stop loss at? Are you trying to just scalp or swing trade it?
a limit sell got filled this morning on open at 102.60 but i've covered it back at the intraday pivot/trendline at around 102.35.
going to flat again as i still think high 102s a possibility for now as long as trendline is holding
my next offers at 102.75 and 102.90 and 103.10, won't be replenishing the 102.60 as that scalp is already done, 102.90s and 103.10s if filled will be trying to swing, 102.75 more of a scalp but let's see what happens
  • #42,874
  • Feb 9, 2014 10:49pm Feb 9, 2014 10:49pm
Quoting eurusd_trade
{quote} a limit sell got filled this morning on sunday mng at 102.60 but i've covered it back at the intraday pivot/trendline at around 102.35. going to flat again as i still think high 102s a possibility for now as long as trendline is holding my next offers at 102.75 and 102.90 and 103.10, won't be replenishing the 102.60 as that scalp is already done, 102.90s and 103.10s if filled will be trying to swing, 102.75 more of a scalp but let's see what happens
trendline eh...
"HEY! Whats all this chocolate on yo face?" - "It's doodoo, babby!"
  • #42,875
  • Edited 11:12pm Feb 9, 2014 10:51pm | Edited 11:12pm
Quoting 110101
{quote} trendline eh...
yes... if we trade below 102.30-102.35 you'll start to see some institutional trailing stops so that's not going to be easy at this time wth low activity (in fact there's still buying) so scalping in front of it is reasonable unless it goes, of course, in which case we might revisit the 101.8x zone. but for me the core view is still going to the high 102s possibly low 103s so i'm not going to do any more shorts for now until 102.7x+.
  • #42,876
  • Feb 9, 2014 11:15pm Feb 9, 2014 11:15pm
The longs are seriously losing traction here.
Abe's guy wins, Nikkei ramping up but...

U/J just sitting there, treading water. And from the looks of it, the legs are getting tired.

  • #42,877
  • Feb 9, 2014 11:18pm Feb 9, 2014 11:18pm
Quoting Orly
The longs are seriously losing traction here. Abe's guy wins, Nikkei ramping up but... U/J just sitting there, treading water. And from the looks of it, the legs are getting tired.
keep in mind the nikkei is significantly cheaper to its daily pivot (lagger but i don't know if i'd try any convergence trade, i am no expert on NIY/NKD) than usd/jpy is to its daily pivot (or the S&P for that matter).
  • #42,878
  • Feb 9, 2014 11:23pm Feb 9, 2014 11:23pm
I generally trade the Weekly Pivots because the Daily Pivots are sometimes kinda squirrelly...meaning sometimes they at least make a speed bump but a lot of times they don't. With the Weekly Pivot, there's almost always at least a pause and a bump before the real action resumes.
It's a convenient way to set TPs then get some sleep.

Now, the UJ is owed the Weekly Pivot to the downside @~101.857.

_____________
Addo: Also, the Cable looks to be rolling over on this one. Question is: does UJ follow it down as a "risk-off" play, or do the algos read it as "dollar strength"? Either way, these next few days could see some heavy volatility. Keep your head on a swivel.
  • #42,879
  • Feb 10, 2014 3:04am Feb 10, 2014 3:04am
Modest Yen strength at Euro banks opening, and I didn't get in on the relapse to ~102.05 but it is early days....
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #42,880
  • Feb 10, 2014 3:55am Feb 10, 2014 3:55am
Interesting article about currency trading from Bloomberg.

http://www.bloomberg.com/news/2014-0...urrencies.html
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