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USD/JPY Discussion

  • #45,601
  • May 7, 2014 2:56pm May 7, 2014 2:56pm
As suspected, Yellen didn't rock the boat so technical analysis is still the flavor of the day.

UJ solidly above daily support now looking to breach 102 by weeks end and hopefully the 38.2FIB RT @102.38

As stated here, bond yields at lower end of range coupled with a low volatility index are weighing on the dollar. A change in either may provide a shot in the arm for the dollar, beware bears.

http://www.forex.com/uk/post?SDN=96c...7-2ee29261d638

Good luck traders
Pride always comes before destruction.... -Proverbs 16:18
  • #45,602
  • May 7, 2014 3:10pm May 7, 2014 3:10pm
strong movement up in the past 2 hours. looks like bears gone for early weekend
  • #45,603
  • May 7, 2014 3:19pm May 7, 2014 3:19pm
Target X
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 16 KB
  • #45,604
  • May 7, 2014 3:28pm May 7, 2014 3:28pm
Quoting Ken A
Target X {image}
Hi Ken, where did you enter?
Fix up, trade sharp ...
  • #45,605
  • May 7, 2014 3:34pm May 7, 2014 3:34pm
Quoting Hickson
{quote} Hi Ken, where did you enter?
Lowest from 96.5x

Fresh long:

Attached Image
  • #45,606
  • May 7, 2014 3:38pm May 7, 2014 3:38pm
Quoting Ken A
{quote} Lowest from 96.5x Fresh long: {image}
Nice. Had one long from 101.55, but already took profit ^^
Fix up, trade sharp ...
  • #45,607
  • May 7, 2014 3:40pm May 7, 2014 3:40pm
Quoting Hickson
{quote} Nice. Had one long from 101.55, but already took profit ^^
My risk is -5 pips vely vely cheap not vely expensive
  • #45,608
  • May 7, 2014 3:43pm May 7, 2014 3:43pm
Quoting Ken A
{quote} My risk is -5 pips vely vely cheap not vely expensive
No problem either way, you can buy new teeth from that 96.5x long soon
Fix up, trade sharp ...
  • #45,609
  • May 7, 2014 3:56pm May 7, 2014 3:56pm
Quoting Hickson
{quote} No problem either way, you can buy new teeth from that 96.5x long soon
U/J won't go very far 102.50 -103.00 top long as the dollal is taking beating from EUR and Pounds
  • #45,610
  • May 7, 2014 4:00pm May 7, 2014 4:00pm
Quoting Ken A
{quote} U/J won't go very far 102.50 -103.00 top long as the dollal is taking beating from EUR and Pounds
Depends on your position size. Should do for a tooth or two xD
Fix up, trade sharp ...
  • #45,611
  • May 7, 2014 4:04pm May 7, 2014 4:04pm
Quoting Hickson
{quote} Depends on your position size. Should do for a tooth or two xD
http://static.ddmcdn.com/gif/shark-teeth-1.jpg
  • #45,612
  • May 7, 2014 4:05pm May 7, 2014 4:05pm
Quoting Ken A
{quote} {image}

Def. need a dentist. Look at that ulceration above that lateral incisor.
  • #45,613
  • May 7, 2014 4:16pm May 7, 2014 4:16pm
Target 101.20
  • #45,614
  • May 7, 2014 4:30pm May 7, 2014 4:30pm
I just wanted to bring to light a similar price pattern I noticed between two markets. A few weeks ago, I traded the two hour GBPNZD long on this bouncing support pattern. The USDJPY appears to be having some of the same behavior on a higher TF. Even the steep rise preceding the patterns are similar. Could this portend a jump north over 104 and out of the consolidation?
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screen Shot 2014-05-07 at 5.26.52 PM.PNG Size: 167 KB
Click to Enlarge Name: Screen Shot 2014-05-07 at 5.23.41 PM.PNG Size: 165 KB
There's always money in the banana stand.
  • #45,615
  • May 7, 2014 4:39pm May 7, 2014 4:39pm
Quoting LizardGizzard
I just wanted to bring to light a similar price pattern I noticed between two markets. A few weeks ago, I traded the two hour GBPNZD long on this bouncing support pattern. The USDJPY appears to be having some of the same behavior on a higher TF. Even the steep rise preceding the patterns are similar. Could this portend a jump north over 104 and out of the consolidation? {image} {image}
Nice work thanks
  • #45,616
  • May 7, 2014 4:41pm May 7, 2014 4:41pm
Less likely to go over 103.00 with E/U and G/U at current rates

Edit: it's Lower Highs
  • #45,617
  • May 7, 2014 4:49pm May 7, 2014 4:49pm
Quoting LizardGizzard
I just wanted to bring to light a similar price pattern I noticed between two markets. A few weeks ago, I traded the two hour GBPNZD long on this bouncing support pattern. The USDJPY appears to be having some of the same behavior on a higher TF. Even the steep rise preceding the patterns are similar. Could this portend a jump north over 104 and out of the consolidation? {image} {image}
  • #45,618
  • May 7, 2014 4:56pm May 7, 2014 4:56pm
Quoting sergo
{quote} Nice work thanks
But the problem with this, she ready punch hole through the support line so it means she's going to do it again
  • #45,619
  • May 7, 2014 5:00pm May 7, 2014 5:00pm
Quoting sergo
{quote} But the problem with this, she ready punch hole through the support line so it means she's going to do it again
Could be. I think it may be more of an inexact zone of prices instead of a thin hard line. but as always, the market will have to let us know in due time.
There's always money in the banana stand.
  • #45,620
  • May 7, 2014 5:21pm May 7, 2014 5:21pm
101.75 100%
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