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USD/JPY Discussion 6 replies

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USD/JPY Discussion

Yesterday chart
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Quoting sakisf
{quote} Reached 80% margin when it shot up before nfp then took some quick profits from high shorts at 103.70 to get back the profits lost yesterday with the previous top spike. Now just waiting for 103 to get the rest out at BE+swaps. Can hold until 105 but I see better opportunity in longing U/Cad so I need 103 in like 5 minutes Good thing is that both E & G are going up keeping E/J & G/J in-trend while allowing U/J to make some good fall.

The loonie is def seeing some lows/bottoming would have been a nice ride down there. It should rebound and target some new highs....but as we saw with NZD making (almost) record highs....making too early of trades....let it develop and then take the trade....never prematurely
I literally kick myself for closing the shorts of USDJPY just yesterday, if only I had more confidence, I would be enjoying some profits rather than suffer the loss by closing early. I was too worried the employment data will be too good and drive the USDJPY straight out above 140, but I guess where it is heading to is likely to remain a mystery for now.
Quoting thevolatile
I literally kick myself for closing the shorts of USDJPY just yesterday, if only I had more confidence, I would be enjoying some profits rather than suffer the loss by closing early. I was too worried the employment data will be too good and drive the USDJPY straight out above 140, but I guess where it is heading to is likely to remain a mystery for now.
Confidence comes from being an informed trader...
Hopefully it will run through 103.50 in 2 minutes as soon as the options expire. Lots of strength going down despite the initial buy backs above 103.70.
103.67 is strong for now
Contrarian today lol. I think it can move up still back above 104. We will see. My reason is as simple as the virgin point of control and the fact price has not torpedo'd with the drop off. We will see.
Break of 103.67 on downside could mean buyers dried up and sellers have temp win in my opinion. But if it holds then.....
Quoting Trendzalore
Contrarian today lol. I think it can move up still back above 104. We will see. My reason is as simple as the virgin point of control and the fact price has not torpedo'd with the drop off. We will see.
E/J and G/J keeping it up but for how long. They are on strong support, both.
Quoting sakisf
{quote} E/J and G/J keeping it up but for how long. They are on strong support, both.
I think even though it was a miss, it wasnt a strong miss. Lull everyone to sleep thinking time for a fall and then ramp up into the close. If it does not break 103.67 and stay below it then I can see buyers gaining confidence.
Quoting Trendzalore
{quote} I think even though it was a miss, it wasnt a strong miss. Lull everyone to sleep thinking time for a fall and then ramp up into the close. If it does not break 103.67 and stay below it then I can see buyers gaining confidence.
NFP was good but unemployment was a big miss. (6.7)
May not be, 6.7% maybe because the job situation improved and that discouraged workers go back in search of jobs. Therefore the increase in the % of unemployment. It is U3 unemployment that is being reported.
Just a year or two ago a day like today could have swung 150-200 pips

I have to re work my mind to the new volume
Hit or miss, weekly economic date is practical useless in the grand scheme of the market. An hour or two of traders screaming long/short to which price usually ends undecided in direction for the remanding hours afterwards.
Quoting Trendzalore
Just a year or two ago a day like today could have swung 150-200 pips I have to re work my mind to the new volume

Even sooner than that bro!! I remember seeing pairs drop 70-100 pips off a news release LOL
Quoting Jhig
Hit or miss, weekly economic date is practical useless in the grand scheme of the market. An hour or two of traders screaming long/short to which price usually ends undecided in direction for the remanding hours afterwards.
"Following the higher than expected US unemployment rate Fed fund rate futures are now pricing in the first 25bps rate hike in Aug 2015 vs Prev. Q2 2015"

Might be short term data but it affects things in a broader way.
USDJPY finally seems to be all the way down, at least starting to look like it is going to be a straight down. For me I can't believe 6 days of up, well at least some correction is in order.
I mean check the 4hr chart and daily. Lets see if we can get a through 103.5 if so can open up more to the downside
Quoting Rizmeister
{quote} Even sooner than that bro!! I remember seeing pairs drop 70-100 pips off a news release LOL
I wish those days were back
Quoting Trendzalore
{quote} I wish those days were back

I actually remember you on the forums haha.
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