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USD/JPY Discussion

  • #43,641
  • Feb 27, 2014 4:46am Feb 27, 2014 4:46am
The train is getting ready to leave the station. The question is which way lol. At weekly support right now, so news may launch this a good ways either way. To me the edge still points up............barely.
  • #43,642
  • Feb 27, 2014 4:47am Feb 27, 2014 4:47am
We will see what U.S. news does to make a move
  • #43,643
  • Feb 27, 2014 4:49am Feb 27, 2014 4:49am
Just my opinion. In H4, this looks like an accumulation for a long term long run and it is in its final move... anyways, who knows?
Attached Image (click to enlarge)
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  • #43,644
  • Feb 27, 2014 4:55am Feb 27, 2014 4:55am
Quoting StevenNguyen
Just my opinion. In H4, this looks like an accumulation for a long term long run and it is in its final move... anyways, who knows? {image}
Vely beautiful chalt
  • #43,645
  • Feb 27, 2014 5:01am Feb 27, 2014 5:01am
Seems like the down move is hesitant ahead of US durable goods, I probably will close out most of my 101.97 shorts before the number as my view at the moment is long USD. Significant down moves in USDJPY usually begin with a decisive breakdown and that doesnt seem to be happening when it should have.
Twitter: @TrendersGame
  • #43,646
  • Feb 27, 2014 5:07am Feb 27, 2014 5:07am
Quoting Ken A
{quote} Vely beautiful chalt
Thanks Ken A

Here is another technical points that this pair should be bullish since the volumes were especially high at the bottom couple weeks ago
Attached Image (click to enlarge)
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Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-h4-ironfx-financial-services-2.png Size: 30 KB
  • #43,647
  • Feb 27, 2014 5:07am Feb 27, 2014 5:07am
Hey guys,

USDJPY in my opinion is a buy but remember it is just an opinion, and opinions are like A$$holes, everybody has one.

Good luck with your trades.

Sunny.
  • #43,648
  • Feb 27, 2014 5:07am Feb 27, 2014 5:07am
Quoting Citiboy
Seems like the down move is hesitant ahead of US durable goods, I probably will close out most of my 101.97 shorts before the number as my view at the moment is long USD. Significant down moves in USDJPY usually begin with a decisive breakdown and that doesnt seem to be happening when it should have.
I beleive it will go down but I hesitate on shorts until it at least touches 103. For the record I am hoping it goes over 102.60 by 11pm eastern today. Small binary trade. At weekly resistance right now and news might take the pair up..............or of course send i spiraling down. I give the slight edge to going up first. Becuase of underlying short term momentum.
  • #43,649
  • Feb 27, 2014 5:15am Feb 27, 2014 5:15am
Yeah, there is some demand at 101.80 and 102.50 having sell offers with larger orders at 101.10 and sellers at 103.19. I would probably look for short term shorts at 103.19 but it's not a position trade more swing than position/intra day
  • #43,650
  • Feb 27, 2014 5:36am Feb 27, 2014 5:36am
Bad number, closed out part of my higher leveraged short term positions from 101.80 at 101.96 and will maintain a small long position playing off the demand zone of 101.80 targeting 102.40.

Not too much confidence on that small long though, fully prepared to let that go under water since I'll still be in the green from that 16 pips.
  • #43,651
  • Feb 27, 2014 5:39am Feb 27, 2014 5:39am
Go figure... the number is good enough for USDJPY to surge... but USD falls elsewhere. Bailed on my usdjpy, looking to possible get long depending on how things go over the next few hours. Whenever this thing breaks 102.70 its going to bust out hard.
Twitter: @TrendersGame
  • #43,652
  • Feb 27, 2014 5:42am Feb 27, 2014 5:42am
I guess with this extremely high volume in M5, it wont stop rising for now, however, i may watch for a good short positions due to the upcoming fundamental news
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  • #43,653
  • Feb 27, 2014 5:42am Feb 27, 2014 5:42am
Lol they are getting us to fixate on shorter and shorter horizons... meanwhile the big boys are setup for the long haul.
  • #43,654
  • Feb 27, 2014 5:45am Feb 27, 2014 5:45am
Seems like everyone is going the wrong way.
In through the out door?

:?
  • #43,655
  • Feb 27, 2014 5:47am Feb 27, 2014 5:47am
Quoting StevenNguyen
Just my opinion. In H4, this looks like an accumulation for a long term long run and it is in its final move... anyways, who knows? {image}
Good call mate !
The good thing with the future is that it is progressively approaching...
  • #43,656
  • Feb 27, 2014 5:48am Feb 27, 2014 5:48am
Quoting Citiboy
Whenever this thing breaks 102.70 its going to bust out hard.
Gonna see hardcore?
The good thing with the future is that it is progressively approaching...
  • #43,657
  • Feb 27, 2014 5:51am Feb 27, 2014 5:51am
Candle closes on 4hr in 10 minutes. Interbank boys got what they wanted. stops below 102 and 101.80 cleaned up on dubious "ukraine related" bearish price action. Good durable goods print. In my humble opinion this now looks like a low risk long if you think US yields are due for a move higher based on the recent data. I may buy here with a stop below 101.70
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 111 KB
Twitter: @TrendersGame
  • #43,658
  • Feb 27, 2014 5:53am Feb 27, 2014 5:53am
Off the front of today's Daily FX Update from Scotiabank: 'RISK AVERSION SUPPORTS THE USD & JPY'
  • #43,659
  • Feb 27, 2014 5:53am Feb 27, 2014 5:53am
Sorry but the numbers out of the US were not good at all. Like at all.

Bond yields are not going to rise in the environment. No way.
  • #43,660
  • Feb 27, 2014 6:02am Feb 27, 2014 6:02am
Quoting Orly
Sorry but the numbers out of the US were not good at all. Like at all. Bond yields are not going to rise in the environment. No way.
no, it was not good, at all. But it was set up to be like that because if the MMs sell now, they wont get much from the market, so they have to spike up and then short again. However, it is still quite early for short positions as the volumes are still very high and the H4 candle just formed. My 2cents opinion...
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