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USD/JPY Discussion

  • #44,381
  • Apr 1, 2014 11:41am Apr 1, 2014 11:41am
I am short but I now see bulls accumulating for a strong move to 104+ without the slightest pullback. Even bad usd news couldn't hold the move up.
  • #44,382
  • Apr 1, 2014 11:43am Apr 1, 2014 11:43am
Quoting giveachance
{quote} PTL I am short usd/jpy @103.49. looking for 102

I'm flat right now, but favor longs near 102.98 or so, but let me ask you this, what are you risking on your shorts?
Look Sharp/Trade Tight
  • #44,383
  • Apr 1, 2014 12:03pm Apr 1, 2014 12:03pm
Quoting PayTheLimit
{quote} I'm flat right now, but favor longs near 102.98 or so, but let me ask you this, what are you risking on your shorts?
104.30. if that is out I am out. techs don't work on this pair as it sometimes follows s&p. sometimes china and sometimes US data. don't know wat exactly techs want.
  • #44,384
  • Apr 1, 2014 12:13pm Apr 1, 2014 12:13pm
Quoting giveachance
{quote} 104.30. if that is out I am out. techs don't work on this pair as it sometimes follows s&p. sometimes china and sometimes US data. don't know wat exactly techs want.
Well I traded techs exclusively, I might glance at the fundis, but after the fact mostly, at any rate....it is was it is..

whats your reason for risking so much if I may ask, why be short if 103.75 is taken out? why not look for an entry later?
Look Sharp/Trade Tight
  • #44,385
  • Apr 1, 2014 12:30pm Apr 1, 2014 12:30pm
Quoting giveachance
104.30. if that is out I am out. techs don't work on this pair as it sometimes follows s&p. sometimes china and sometimes US data. don't know wat exactly techs want.
Technicals absolutely work on this pair, as they do on any pair or any asset for that matter. Like PTL, it's the only way I trade.

But perhaps you should work on your understanding of the technicals and how it relates to price action before making a blanket statement like that. Just because you don't know what the technicals are saying doesn't mean that they don't work.
Please check out my blog at https://from-zero-to-hero . net
  • #44,386
  • Apr 1, 2014 12:45pm Apr 1, 2014 12:45pm
told you all a week ago this pair is going to 105.
  • #44,387
  • Apr 1, 2014 12:47pm Apr 1, 2014 12:47pm
got a long on here target 104.5 , 103.76 will be the hardest, if we get past will add on retest of it,
Do what's right for you
  • #44,388
  • Apr 1, 2014 1:11pm Apr 1, 2014 1:11pm
Quoting strat1x
told you all a week ago this pair is going to 105.
yep, and i'm still ridin' it
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  • #44,389
  • Edited 1:36pm Apr 1, 2014 1:11pm | Edited 1:36pm
try some shorts at 103.71, risk 10..
Look Sharp/Trade Tight
  • #44,390
  • Apr 1, 2014 1:24pm Apr 1, 2014 1:24pm
Quoting PayTheLimit
try some shorts at 102.71, risk 10..
make it 103.71 gl!
Don't be a hero. Don't have an ego. Always question yourself
  • #44,391
  • Apr 1, 2014 1:37pm Apr 1, 2014 1:37pm
Quoting USD-Bear
{quote} make it 103.71 gl!
Look Sharp/Trade Tight
  • #44,392
  • Apr 1, 2014 1:44pm Apr 1, 2014 1:44pm
I am waiting for new high about 104,25/33 mix of monthly and Q1 pivots, this would open up nice short for retracement, looking at H4 here.
swing it!
  • #44,393
  • Apr 1, 2014 1:49pm Apr 1, 2014 1:49pm
Well, I for one thought 103.27 was going to be the line in the sand before heading down. Since price has pushed through this area it can now go to 104+, most likely 104.37. However, I am staying out becasue i still think based on volume and value that there is still a very good chance price goes sharply down. Of course I could be wrong but it still seems like this is retail buying and not big guys buying. Longterm this pair is headed up I believe, but not before a gooooooood drop. We shall see. happy pips to those making them.
  • #44,394
  • Apr 1, 2014 2:04pm Apr 1, 2014 2:04pm
Quoting PayTheLimit
try some shorts at 103.71, risk 10..
CXL, have to go out, bbl, gl, PTL...
Look Sharp/Trade Tight
  • #44,395
  • Apr 1, 2014 8:24pm Apr 1, 2014 8:24pm
This son of a b* just had to breakout during my dinner time, didn't it?!
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  • #44,396
  • Apr 1, 2014 8:25pm Apr 1, 2014 8:25pm
the yen is getting flayed against everything
  • #44,397
  • Apr 1, 2014 8:25pm Apr 1, 2014 8:25pm
Quoting smash1820
This son of a b* just had to breakout during my dinner time, didn't it?!

It sure did. Highest its been since March 7th.
  • #44,398
  • Apr 1, 2014 8:29pm Apr 1, 2014 8:29pm
up 5 days in a row
back to resistance 104.
vertical on the chart. no real retrace.

strange moves considering no real new news.

pair is getting expensive. all X/JPY pairs are very very expensive.

a lot of news is priced in and hedge funds have taken full advantage of stops. pre GFC is was 120, but US interest rates was 5%

now us interest rates, max will be 1.5% by end of next year, and its near pre-GFC prices. makes no logical sense.
  • #44,399
  • Apr 1, 2014 8:35pm Apr 1, 2014 8:35pm
Quoting Trendzalore
Well, I for one thought 103.27 was going to be the line in the sand before heading down. Since price has pushed through this area it can now go to 104+, most likely 104.37. However, I am staying out becasue i still think based on volume and value that there is still a very good chance price goes sharply down. Of course I could be wrong but it still seems like this is retail buying and not big guys buying. Longterm this pair is headed up I believe, but not before a gooooooood drop. We shall see. happy pips to those making them.
Just my two cents worth, afew of the trades have been on this ride since price 96 zonal. If zooming out in higher TF, this current movements isn't going to consolidate for a down move effect. In my view I agreed with you Longterm this pair is heading up. As for a drop 102.40 so far is the center oscillation zone, zooming down thou a bear might be in a picture, but there is higher possibilities that it might take us to meet 105/106 before any major corrective move.
Sincerely Yours Cheers!
  • #44,400
  • Apr 1, 2014 8:41pm Apr 1, 2014 8:41pm
hope u guys aren't short... she's still got some steam left.

i'm just mad because I was expecting this breakout all day and ironically, it had to happen during the 1 time I was away from my computer. Otherwise, I would have quadrupled my options account. Major UGH!!
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