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USD/JPY Discussion

  • #47,141
  • Jul 23, 2014 10:29am Jul 23, 2014 10:29am
Quoting smash1820
{quote} 110 in 6 months is not realistic. But I 100% absolutely agree with your quote, "This bouncing game between 101 and 102.50 for the last couple of months has made me more confident on long for yen." Perhaps we will see 110 within a year or two, but I don't know about 6 months... and this is coming from the guy, well... let's say, you can call me the ultimate "perma bull". Ok, let me rephrase. 110 within 6 months COULD happen, but I wouldn't count on it... Good things take time
It's fine if you have some long term projection for USD/JPY but as a trader don't you want to make money right now?

It's like you are picking the horse that limping along to win the race instead of the powerful healthy stallion.

Sure, USD/JPY may have it's day again but right now it's looking unhealthy and weak.

Why not buy the currencies which are hot right now? There may not be many but at least you will not be trading in such a stagnant environment.
Trade at your own risk.
  • #47,142
  • Jul 23, 2014 11:18am Jul 23, 2014 11:18am
I think now this pair is trying to go to the 101.80 level. If it breaks that level then it may cross the 102 level.
  • #47,143
  • Edited 1:14am Jul 24, 2014 12:37am | Edited 1:14am
If you wanted to go short, I think the time was about 3 hours ago. I went short then, but already closed out of it.

Am now long again. It may go lower still, but I'm more comfortable being long than short.

Also, to Fx3423454, I would like to respond to your message as soon as I can... I think that is an excellent question. And for starters, why don't I just repeat my statement above... I would rather be long than short.

USD/JPY is the only pair that I have real conviction on (and, probably more importantly, have actually checked THE TECHNICALS for). I used to trade GBP/JPY, but have since then switched over to U/J. I like that it is an easy 2:1 margin.
Please check out my blog at https://from-zero-to-hero . net
  • #47,144
  • Jul 24, 2014 3:39am Jul 24, 2014 3:39am
Is there a fundamental reason why the USD/JPY is going up right now, and about to break out of its range?

I don't know... All I know is that it is going up.
Please check out my blog at https://from-zero-to-hero . net
  • #47,145
  • Jul 24, 2014 3:45am Jul 24, 2014 3:45am
EUR/JPY is pushing USD/JPY up.. so, good EUR data. Also bad GBP retail sales data making USD stronger.
imho, Regards
  • #47,146
  • Jul 24, 2014 4:20am Jul 24, 2014 4:20am
Quoting BiliPiton
EUR/JPY is pushing USD/JPY up.. so, good EUR data. Also bad GBP retail sales data making USD stronger. imho, Regards
I also think so.

But it's first target is to break the 101.60 and then 101.80 then I think UJ will be a bullish trend.
  • #47,147
  • Jul 24, 2014 4:23am Jul 24, 2014 4:23am
Quoting smash1820
Is there a fundamental reason why the USD/JPY is going up right now, and about to break out of its range? I don't know... All I know is that it is going up.
Amari is jawboning. Everything is great now, don'tcha know?

:/
  • #47,148
  • Jul 24, 2014 5:52am Jul 24, 2014 5:52am
Quoting smash1820
Is there a fundamental reason why the USD/JPY is going up right now, and about to break out of its range? I don't know... All I know is that it is going up.
You know, it has been easy to look at UJ over the last few months as being in a triangle - one that would break down to complete, then rise quickly. It is just possible, though, that the triangle view is misguided and it has simply been struggling to remain held up above a descending trendline/channel. On timeframes under weekly, it always looks bearish - but the weekly view could be interpreted quite differently. If it can clear 102 (top of weekly ichimoku cloud) and get past 102.4/5, you might get your wish.
  • #47,149
  • Jul 24, 2014 6:06am Jul 24, 2014 6:06am
bearich
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-m15-hf-markets-ltd.png Size: 61 KB
  • #47,150
  • Jul 24, 2014 6:51am Jul 24, 2014 6:51am
And now it's drifting above 101.60.. If the reports out of the US are good today, we could definitely see 101.80 or even 102 possibly.
  • #47,151
  • Jul 24, 2014 6:57am Jul 24, 2014 6:57am
Quoting BogiFX
Shorting UJ because of the daily pin and the 50% pullback of pin.
Stopped out .
  • #47,152
  • Jul 24, 2014 7:04am Jul 24, 2014 7:04am
Quoting BogiFX
{quote} Stopped out .
I am also same like you. But I think 101.80 will be another place for going short but if that breaks then Long will be good as per the triangle of the image.
Attached Image (click to enlarge)
Click to Enlarge Name: UJ.jpg Size: 224 KB
  • #47,153
  • Jul 24, 2014 7:04am Jul 24, 2014 7:04am
Treasury yields rose a lot over night for some reason, which is really contributing to the yen rising like this.
  • #47,154
  • Jul 24, 2014 7:09am Jul 24, 2014 7:09am
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy1.gif Size: 149 KB
  • #47,155
  • Jul 24, 2014 7:21am Jul 24, 2014 7:21am
Quoting Unfortunate
{quote} I am also same like you. But I think 101.80 will be another place for going short but if that breaks then Long will be good as per the triangle of the image. {image}
Or 102,00
  • #47,156
  • Jul 24, 2014 7:35am Jul 24, 2014 7:35am
Quoting BogiFX
{quote} Or 102,00
Right
  • #47,157
  • Jul 24, 2014 7:42am Jul 24, 2014 7:42am
Quoting Unfortunate
{quote} Right
You think usdjpy will break 101.80-85 trend line
  • #47,158
  • Jul 24, 2014 7:43am Jul 24, 2014 7:43am
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpyh4.gif Size: 174 KB
  • #47,159
  • Jul 24, 2014 12:39pm Jul 24, 2014 12:39pm
Quoting Mahawamsa
{quote} You think usdjpy will break 101.80-85 trend line
Yes, maybe already broken.. Now it is on the way of 102. There are some data from Yen and those may be bad and at that time USD may break 102 level.
  • #47,160
  • Jul 24, 2014 10:33pm Jul 24, 2014 10:33pm
Hello everyone,

This is BY FAR my favorite thread on Forex Factory. It is one of the only places that I post.

I was going to say that, while I agree that U/J is easily and obviously going to break 102 (eventually... sooner than later), I also think that it MIGHT be the time to go short right now???

Perhaps before the weekend?

I don't know. U/J is looking a bit bearish imho and to be honest (I am a VERY honest person), I would prefer to be long U/J than short U/J, but I still feel like now is a good time to go short.

I don't know how long I will hold on to it, we will see, I just think that now MIGHT be the time to put on the trade, if you are going to at all.

Either right now, or within the next 30-60 minutes or so.
Please check out my blog at https://from-zero-to-hero . net
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