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USD/JPY Discussion

  • #44,641
  • Apr 8, 2014 10:20pm Apr 8, 2014 10:20pm
Quoting kweiss10
there was talk of a bear trap yesterday. anyone still supporting the idea?
Can never know for sure, but my bias is long on this pair. FOMC meeting gave the dollar a boost and Im willing to bet the minutes will also boost this pair. However, risk first and profit second - im long from 101.699 and am ready to abandon ship at the slightest sign this is a legit move.
  • #44,642
  • Apr 8, 2014 10:26pm Apr 8, 2014 10:26pm
Quoting mnaqvi
{quote} Can never know for sure, but my bias is long on this pair. FOMC meeting gave the dollar a boost and Im willing to bet the minutes will also boost this pair. However, risk first and profit second - im long from 101.699 and am ready to abandon ship at the slightest sign this is a legit move.
101.699 is a very good price to be long.

i would hold it... for a long, long, long time...
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  • #44,643
  • Apr 8, 2014 10:30pm Apr 8, 2014 10:30pm
Quoting kweiss10
there was talk of a bear trap yesterday. anyone still supporting the idea?
i don't know about a bear trap. if anything, i would think a bull trap. look at this Daily chart of "yesterday". it was a pretty bearish day, so they would be trapping the bulls, if anything.
Attached Image


to be honest, i am a bull, and they "trapped" me.

i have an awesome system, but no f*ing discipline. that's really the issue.
Please check out my blog at https://from-zero-to-hero . net
  • #44,644
  • Apr 8, 2014 10:31pm Apr 8, 2014 10:31pm
Quoting smash1820
{quote} 101.699 is a very good price to be long. i would hold it... for a long, long, long time...
Hehe thx, it seems that the market has given me enough room so far to feel comfortable about this position. I'm assuming your bias is long as well? Are you targeting the highs from last year?
  • #44,645
  • Apr 8, 2014 11:31pm Apr 8, 2014 11:31pm
Quoting mnaqvi
Hehe thx, it seems that the market has given me enough room so far to feel comfortable about this position. I'm assuming your bias is long as well? Are you targeting the highs from last year?
Yes, my bias is long. LOL. I am targeting high's that haven't even been hit yet.
Please check out my blog at https://from-zero-to-hero . net
  • #44,646
  • Apr 9, 2014 12:18am Apr 9, 2014 12:18am
You want to know what my target is? Probably somewhere around 120.



But that doesn't mean I'm holding a trade until then. I am in and out of the market constantly.
Please check out my blog at https://from-zero-to-hero . net
  • #44,647
  • Apr 9, 2014 1:59am Apr 9, 2014 1:59am
http://www.mql5.com/en/charts/171368...markets?bind=1
http://www.mql5.com/en/charts/171372...apital-markets

See this JPY225 chart, you will find real reason to go long on EURJPY,GBPJPY and USDJPY
  • #44,648
  • Apr 9, 2014 2:17am Apr 9, 2014 2:17am
Hello Forexhints

YEN has been trading different this year

one step up an two back

makes it hard to load up

an hold longs
  • #44,649
  • Apr 9, 2014 2:33am Apr 9, 2014 2:33am
Quoting eliteincome
Hello Forexhints YEN has been trading different this year one step up an two back makes it hard to load up an hold longs
load up here and you won't regret it
Please check out my blog at https://from-zero-to-hero . net
  • #44,650
  • Apr 9, 2014 2:44am Apr 9, 2014 2:44am
Quoting smash1820
{quote} load up here and you won't regret it
All good but have some longs under water

from that retrace.

longs to 105.5

Not that keen to add more

feels like 50/50 could go either way
  • #44,651
  • Apr 9, 2014 3:30am Apr 9, 2014 3:30am
Morning ladies and gents.

Yesterday was a good day. Now getting into the matters at hand. As per chart below we see the major support level almost reached in the D1 chart. Following such aggressive PA I would expect a consolidation effort to continue for a couple of days at least but if the support level is not broken we could be seeing a reversal move into the 102.70 area.

Keeping in mind that this is the 6th top to the channel I would be apprehensive around it continuing in the current trend for much longer.

Staying out of the UJ for now and will attempt to re-enter with a long position upon further unsuccessfully tests of the support line at 101.55 level.


Attached Image (click to enlarge)
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Good luck everyone.
Crispy.
  • #44,652
  • Apr 9, 2014 4:01am Apr 9, 2014 4:01am
I like the idea of shorting the USDJPY now
Attached Image (click to enlarge)
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  • #44,653
  • Apr 9, 2014 4:25am Apr 9, 2014 4:25am
Quoting sakisf
{quote} Yeah I regret closing my uj shorts too, but i doubled+ my account with shorting gradually since it was going up from 102 to 104 so no regrets. Now losing some on GU shorts but this would fall even harder than uj. ...
The rhetoric from Mark Carney et al is that rates could rise sooner than you think, that is supporting GBP.
As soon as there is a dovish shift in the rhetoric GU will go in the anticipated direction, a massive undershoot in something like GDP would also do it.

UJ down because stocks are down, and any other reason to do with general fright in the markets.
BoJ will not let UJ drop below 100, IMHO, because these weaker levels are causing manufacturers to repatriate some jobs.
More jobs ..... --> ..... inflation, finally, and easing of pressure on the demographic problems of ageing.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #44,654
  • Apr 9, 2014 6:04am Apr 9, 2014 6:04am
I would be cautious about UJ. While I am sure in the long run it will be going up to new highs, I was reading somewhere that the recent Japan tax hike could cause some termoil in due time.
  • #44,655
  • Apr 9, 2014 8:44am Apr 9, 2014 8:44am
Who knows what it wants to do but 101.41 has held strong, if it breaks then look out below to 100.25. Thats IF 101.54 is broken.

So 101.54 is a line of defense. If it is broken some may jump on the short wagon but i would wait to see how price reacts at 101.41 first.
  • #44,656
  • Edited 2:40pm Apr 9, 2014 2:08pm | Edited 2:40pm
this is a pretty nice start for the bulls at the witching hour...

i expect 102 to become new support.

Attached Image
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  • #44,657
  • Apr 9, 2014 3:23pm Apr 9, 2014 3:23pm
102, breaking out
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  • #44,658
  • Apr 9, 2014 3:27pm Apr 9, 2014 3:27pm
it probably means nothing until it breaks last couple days range which is around 102.2
Quoting smash1820
102, breaking out
  • #44,659
  • Apr 9, 2014 4:45pm Apr 9, 2014 4:45pm
Quoting dodoei
it probably means nothing until it breaks last couple days range which is around 102.2 {quote}
It'll happen. Give it time.
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  • #44,660
  • Apr 9, 2014 5:17pm Apr 9, 2014 5:17pm
Hey Cyber, good to see you here!

Attached Image (click to enlarge)
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Per your message, I will get back to you shortly.
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