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USD/JPY Discussion

  • #46,981
  • Jul 11, 2014 10:48am Jul 11, 2014 10:48am
Quoting spinozagr
{quote} up...you can visit my explorer if you want to see my settings for this trade {quote} it is indeed...

Thanks. I am new to this forum. Could you please tell me how i can do that?
  • #46,982
  • Jul 11, 2014 10:50am Jul 11, 2014 10:50am
Quoting sthobani
{quote} Thanks. I am new to this forum. Could you please tell me how i can do that?
sorry did not notice that...

just click my signature, where it says Midas...there you can see all the trades i have opened, bad or good...

hope that helps...

Venceremos
The good thing with the future is that it is progressively approaching...
  • #46,983
  • Jul 11, 2014 11:21am Jul 11, 2014 11:21am
Quoting spinozagr
{quote} sorry did not notice that... just click my signature, where it says Midas...there you can see all the trades i have opened, bad or good... hope that helps... Venceremos
Thanks a lot. Quite impressive.

Sorry for asking silly question, i saw you are using Demo account, are you using another live account as well because looks like you are quite good and you have a great potential to do lot in live account as well??
  • #46,984
  • Jul 11, 2014 11:23am Jul 11, 2014 11:23am
Quoting spinozagr
{quote} sorry did not notice that... just click my signature, where it says Midas...there you can see all the trades i have opened, bad or good... hope that helps... Venceremos

Also, what is tp on USD JPY i can see your stop loss.

Thanks
  • #46,985
  • Jul 11, 2014 11:31am Jul 11, 2014 11:31am
Quoting sthobani
{quote} Thanks a lot. Quite impressive. Sorry for asking silly question, i saw you are using Demo account, are you using another live account as well because looks like you are quite good and you have a great potential to do lot in live account as well??
thanks mate...

what you see in my demo...is the same more or less in my live

tp is stand for "Take profit"... i have to stop this behavour because i must let the profits runnning and not to stop them... but anyway...its a bad habit i think...

Because you are new let me give you an advice please...

do not follow anyone...is the road to catastrophy... let the time and the losses teach you... the best way to find your road

My 2 cents advice, if i may...

Have a nice weekend

Venceremos
The good thing with the future is that it is progressively approaching...
  • #46,986
  • Jul 11, 2014 12:03pm Jul 11, 2014 12:03pm
LONG LONG LONG ALERT

LONG 200,000 USD JPY @101.300

HOLDING ON UNTIL 50+ pips profit!

  • #46,987
  • Jul 11, 2014 2:34pm Jul 11, 2014 2:34pm
Quoting yeniful
LONG LONG LONG ALERT LONG 200,000 USD JPY @101.300 HOLDING ON UNTIL 50+ pips profit!
I'm going to a touch more patient for my long, which is unlikely to execute today: Good for Day Long Entry at 101.194/TP 101.525.
Fireworks are fun ... as long as you don't blow your fingers off.
  • #46,988
  • Jul 11, 2014 7:41pm Jul 11, 2014 7:41pm
Quoting Expo33
Weekly still above 50 SMA and price still trading in the upper half of 34EMA A simple chart with a powerful message. We haven't seen price close on the weekly below 101.27 in 8 months!! T minus 12 hours to make that happen, my money says it won't {image}
101.27 area is a beast; weekly still can't close below it
Pride always comes before destruction.... -Proverbs 16:18
  • #46,989
  • Jul 12, 2014 1:03am Jul 12, 2014 1:03am
seems that this pair has bottomed out based on daily, prepare for uptrend next week.
  • #46,990
  • Jul 12, 2014 1:12am Jul 12, 2014 1:12am
Quoting bluetoss
seems that this pair has bottomed out based on daily, prepare for uptrend next week.
I think it could go down more like on Sunday open or Monday, but I basically agree with your post.
Please check out my blog at https://from-zero-to-hero . net
  • #46,991
  • Jul 12, 2014 1:30am Jul 12, 2014 1:30am
Quoting smash1820
{quote} I think it could go down more like on Sunday open or Monday, but I basically agree with your post.
I dont realy think that we could have a down move us this is a spining top on a downtrend and H4 and H1 already are creating bottoms.
  • #46,992
  • Jul 12, 2014 1:47am Jul 12, 2014 1:47am
news from BOJ, actually, japan has never improved on their deflation status. making it worse was that abe hike their tax and make it more unwilling for corporations to hire and increase wages.

BOJ may slightly cut economic forecast, policy seen steady

http://ca.reuters.com/article/busine...nnel=0&sp=true
  • #46,993
  • Jul 12, 2014 7:30am Jul 12, 2014 7:30am
Quoting bluetoss
seems that this pair has bottomed out based on daily, prepare for uptrend next week.
Sitting upon an obvious and apparently rock-solid support line does not mean that UJ cannot sink.
It is likely to go up, and I am long (as usual), however if it penetrates 100.75 it may just go below 99, and if so the BoJ will step in and pump it back up to somewhere like 101 - maybe not immediately.

Quoting bluetoss
news from BOJ, actually, japan has never improved on their deflation status. making it worse was that Abe hike their tax and make it more unwilling for corporations to hire and increase wages. BOJ may slightly cut economic forecast, policy seen steady http://ca.reuters.com/article/busine...nnel=0&sp=true
Sales tax is a direct form of inflation, expect another 1% rise next year if CPI continues to languish. The sales tax directly affects GDP also. GDP will be negatively affected and that may cause more Yen printing.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #46,994
  • Jul 12, 2014 8:02am Jul 12, 2014 8:02am
Quoting Exodus
{quote} Sitting upon an obvious and apparently rock-solid support line does not mean that UJ cannot sink. It is likely to go up, and I am long (as usual), however if it penetrates 100.75 it may just go below 99, and if so the BoJ will step in and pump it back up to somewhere like 101 - maybe not immediately. {quote} Sales tax is a direct form of inflation, expect another 1% rise next year if CPI continues to languish. The sales tax directly affects GDP also. GDP will be negatively affected and that may cause more Yen printing.
I agree Exodus. It's not certain it won't continue to fall some more. My "line in the sand" for sub 100 is close to yours at 100.81. This projection (Daily) I made several days ago "seems" to have been completed. But I wonder if the spike down (4H) actually has completed it?

For me it's one to watch for now although depending on your trade style, building a few longs from here might not be a bad idea. As you say, even if it dips below 99, I don't think it would stay there very long for the reasons you mentioned. The big guns seem happiest with it around the 100/102 handles me thinks.
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Weekly picture does look bearish IMHO.
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Ghost Rider - WWTBMD?
  • #46,995
  • Jul 12, 2014 9:32am Jul 12, 2014 9:32am
Maybe 101.00 if didn't hold then to X

Or this is just the usual FOMC effects

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  • #46,996
  • Jul 12, 2014 9:52am Jul 12, 2014 9:52am
Hi guys.
The daily chart does look a bit as though PA is not bouncing off the 101 with quite the vigour that it was or has, and that is bearish.
Also - the last article I read about Kuroda's thought indicated that he is not in a hurry to do anything.
Of course we don't know that the BoJ is not already propping up UJ.....
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #46,997
  • Jul 12, 2014 9:55am Jul 12, 2014 9:55am
I just read that there has been a 6.8 earthquake off Fukushima, that could drive UJ down if there is a lot of local damage.....
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #46,998
  • Jul 12, 2014 10:06am Jul 12, 2014 10:06am
Hi Exodus, it sounds fundamental. Does that mean that natural disaster in Japan causes Yen to appreciate and drives the UJ to go down?
  • #46,999
  • Jul 12, 2014 3:53pm Jul 12, 2014 3:53pm
Quoting Exodus
I just read that there has been a 6.8 earthquake off Fukushima, that could drive UJ down if there is a lot of local damage.....
Oh no!
Please check out my blog at https://from-zero-to-hero . net
  • #47,000
  • Jul 12, 2014 6:52pm Jul 12, 2014 6:52pm
Quoting jorgz
Hi Exodus, it sounds fundamental. Does that mean that natural disaster in Japan causes Yen to appreciate and drives the UJ to go down?
Yes, something like that. Natural disasters will cause a (rapid) decline in any currency or asset, from my understanding. No one wants them to happen.

With that said, you could also just read a chart correctly (or a few of them, lol) and understand the same picture... downward bias for U/J at the beginning of the week, then support should be established mid-week and quite possibly hold. The alternative to that, imo, is more downside pressure, for say, 1 to 3 more weeks.

I agree with posters above... 101.27 area can still be broken... but I'm not necessarily saying by much
Please check out my blog at https://from-zero-to-hero . net
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