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USD/JPY Discussion

  • #43,181
  • Feb 14, 2014 4:25pm Feb 14, 2014 4:25pm
Quoting Trendzalore
{quote} Let me just say.............messing with JPY pairs like that is a sure way to get wiped out in one fell swoop. JPY can pop 100 pips in 10 minutes every now and then.
100-200 pips is acceptable for me. I don't trade that big.
  • #43,182
  • Edited 6:28pm Feb 14, 2014 6:11pm | Edited 6:28pm
Decided to pull out of 101.7 long. 102.2 was not even touched let alone 102.7. I think the unusual strength in S&P 500 which is nearly topping even though dollar index is headed downwards is dubious at best. Meanwhile nikkei 225 is still heading down. I have a mind to stay clear of UJ but there are interesting developments in audjpy and cadjpy. Cadjpy still looks bearish below 94 and daily reflects this. On s lower timeframe appears to be a hs forming up. I would definitely be looking to short with a close below 92. Audjpy also looking vulnerable below 92 as this coincides with the 38.2 level from the recent upswing and top. Close below this and this is a potential short too.
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  • #43,183
  • Feb 16, 2014 5:50am Feb 16, 2014 5:50am
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  • #43,184
  • Feb 16, 2014 10:16am Feb 16, 2014 10:16am
The USDJPY is currently trading within a falling channel toward the upper portion of the channel.

Currently in an downtrend and with price slightly oversold.

My view on the pair is a bit of wait and see. With price last week slightly down but in a narrow range I am looking for a break of last week’s high or low to provide me an entry and direction.

Let’s take a look at the charts in the video together to see.

Inserted Video
  • #43,185
  • Feb 16, 2014 11:12am Feb 16, 2014 11:12am
Quoting JCL's-Forex
The USDJPY is currently trading within a falling channel toward the upper portion of the channel. Currently in an downtrend and with price slightly oversold. My view on the pair is a bit of wait and see. With price last week slightly down but in a narrow range I am looking for a break of last week’s high or low to provide me an entry and direction. Let’s take a look at the charts in the video together to see. https://www.youtube.com/watch?v=WPEHjV-Hyk0
I like your simplistic lower time trade idea. Sometimes we can over complicate with moving averages fibs and whatnot and yet simplistic range trade between channel works just as well.
  • #43,186
  • Feb 16, 2014 4:39pm Feb 16, 2014 4:39pm
Welcome back for the new week boys, I am long here at 101.66 TP 101.92 then re-examine from there.
  • #43,187
  • Feb 16, 2014 5:47pm Feb 16, 2014 5:47pm
Quoting strat1x
Welcome back for the new week boys, I am long here at 101.66 TP 101.92 then re-examine from there.

The the green pips be ever in your favor!
  • #43,188
  • Feb 16, 2014 5:52pm Feb 16, 2014 5:52pm
00:50 JPY PKB (raz na kwartał) 0,3%0,7%0,3% 00:50 JPY PKB (raz w roku) 1,0%2,8%1,1%

go to wave 3
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  • #43,189
  • Feb 16, 2014 6:32pm Feb 16, 2014 6:32pm
Hi I think mi economic intuition is a little wrong can someone explain whats wrong with this intuition?

++ The GDP of japan have been bad that was expected since it was 0.3%. So if the economy is not well there is no way the central bank will rise the interest rate, probably the mos commond thought is that the interest rate will fall or at least will be the same, this because there is a relationship (teoretically) that money supply can increase output in the short run. So it will rational to think that a USD can buy more of JPY and then USD/JPY will go up. Someone can tell me why I m wrong?

PS sorry for the English I suck in that!!!
  • #43,190
  • Feb 16, 2014 6:56pm Feb 16, 2014 6:56pm
Im seeing it like this any bad data coming out of Japan would be bad for NIKKEI 225. Weak NIKKEI strong YEN.
  • #43,191
  • Feb 16, 2014 6:57pm Feb 16, 2014 6:57pm
Quoting anfego22
Hi I think mi economic intuition is a little wrong can someone explain whats wrong with this intuition? ++ The GDP of japan have been bad that was expected since it was 0.3%. So if the economy is not well there is no way the central bank will rise the interest rate, probably the mos commond thought is that the interest rate will fall or at least will be the same, this because there is a relationship (teoretically) that money supply can increase output in the short run. So it will rational to think that a USD can buy more of JPY and then USD/JPY...
Short term...all that doesnt matter.

Market short term wants weak dollar.
  • #43,192
  • Feb 16, 2014 7:00pm Feb 16, 2014 7:00pm
Good to be back for another week! Going short on this one trying to play the near-term downward momentum. Short at 101.55. Anyone else going short?
Green pips to ya!
Jason1551
“The chicken is only an egg’s way for making another egg.” R. Dawkins
  • #43,193
  • Feb 16, 2014 7:01pm Feb 16, 2014 7:01pm
Quoting Doboy408
{quote} Short term...all that doesnt matter. Market short term wants weak dollar.
  • #43,194
  • Feb 16, 2014 7:04pm Feb 16, 2014 7:04pm
Quoting Jason1551
Good to be back for another week! Going short on this one trying to play the near-term downward momentum. Short at 101.55. Anyone else going short? Green pips to ya! Jason1551
looking for a short...waiting for better price to short
  • #43,195
  • Feb 16, 2014 7:07pm Feb 16, 2014 7:07pm
Quoting Doboy408
{quote} looking for a short...waiting for better price to short
Short @ 101.64 tp 101.23
  • #43,196
  • Feb 16, 2014 7:09pm Feb 16, 2014 7:09pm
Quoting atx_sonu
{quote} Short @ 101.64 tp 101.23
daily chart looks like this thing could go to 100
  • #43,197
  • Feb 16, 2014 7:20pm Feb 16, 2014 7:20pm
short at 101.41, kinda crappy entry but i'm in
  • #43,198
  • Feb 16, 2014 7:29pm Feb 16, 2014 7:29pm
stopped out my buy, guess Ill go with the trend and sell, then it will pop up 50 pips I cant win
  • #43,199
  • Feb 16, 2014 9:28pm Feb 16, 2014 9:28pm
according to harmonik pattern M15 and M30 bullish butterfly, H1 bullish 3 drives.
  • #43,200
  • Feb 17, 2014 12:24am Feb 17, 2014 12:24am




USDJPY Trade Setup & Forecast for the week 17th Feb, 2014


Weekly Chart

http://4.bp.blogspot.com/-0HD34KWMWA...2-17_10-49.jpg



Daily Chart

http://2.bp.blogspot.com/-tUOq3OfQHY...2-17_10-49.jpg



Hourly Chart


http://2.bp.blogspot.com/--EZhpRRYZv...2-17_10-49.jpg


There is a few uncertainty with this pair, I have a Buy setup on the hourly chart, however traders need to becareful, as if it gets to that price, on the daily, price will break the clouds signalling a bearish trend, however it could be a false break. Having said that, the multiple exact confluence of fib levels is quite strong to give it a push.
Outlook Trade opportunity

Please see Hourly Chart
Risk Level Medium


Tips -

Always take note of any economical news event on our provided calender below
Only the strong survives!
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