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USD/JPY Discussion

  • #47,201
  • Jul 28, 2014 6:26am Jul 28, 2014 6:26am
The symmetrical triangle is likely to restrict the UJ range for the day between 101.75 and 101.90. However, a break of 101.90 can fuel it towards 102.10 and the daily close above 102.10 is likely to pave the way for the test of important resistance near 102.30 breaking which 103 seems possible. On the downside, the lower line and the 40-EMA supports the pair near 101.75, breaking which 101.50 can't be denied.
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  • #47,202
  • Jul 28, 2014 7:54am Jul 28, 2014 7:54am
there is economic data release tomorrow for japan, i think it's important as it reflect how abenomics is doing for retail, household spending and unemployment. whether it will hit 102 will be dependent on it.
  • #47,203
  • Jul 28, 2014 8:44am Jul 28, 2014 8:44am
102.00 is still an attraction for today
  • #47,204
  • Jul 28, 2014 10:02am Jul 28, 2014 10:02am
Quoting Ken A
102.00 is still an attraction for today
I feel a large long position coming on ....with a tight SL


Tomorrow I am taking some ingrates to the airport, and that will be no trading either.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #47,205
  • Jul 28, 2014 10:09am Jul 28, 2014 10:09am
Quoting Exodus
{quote} I feel a large long position coming on ....with a tight SL Tomorrow I am taking some ingrates to the airport, and that will be no trading either.
  • #47,206
  • Jul 28, 2014 10:11am Jul 28, 2014 10:11am
Treasury yields rising again, not that far from where they were when this hit 101.9 around 3:30 AM EST
  • #47,207
  • Jul 28, 2014 11:22am Jul 28, 2014 11:22am
Quoting Ken A
102.00 is still an attraction for today
Still need a HH...

A dip to 101.55 before we head higher isnt unexpected

My tp is 102.12
  • #47,208
  • Jul 28, 2014 6:47pm Jul 28, 2014 6:47pm
anybody for 150 ?
just kidding (don't like predictions) but..hm, why not, that would be just a correction in a long term down trend.
Attached Image (click to enlarge)
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"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #47,209
  • Jul 28, 2014 6:49pm Jul 28, 2014 6:49pm
Quoting bikov
anybody for 150 ? why not, that would be just a correction in a long term down trend. {image}
Music to my ears! A USD/JPY Bull admitting we are actually in a down-trend! Haha I'm just pulling ya leg, but I am on the short side expressed via short EUR/JPY, multi week time frame.
  • #47,210
  • Jul 28, 2014 6:58pm Jul 28, 2014 6:58pm
Quoting Hyperion
{quote} Music to my ears! A USD/JPY Bull admitting we are actually in a down-trend! Haha I'm just pulling ya leg, but I am on the short side expressed via short EUR/JPY, multi week time frame.

yes, but very long term, right now it is up trend and you really got to have a very very deep pocket to trade on a very long scale. now h1 and h4 points to up and that's more important to me. maybe one day the down trend will resume but I don't think it would be right now. we'll see..
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #47,211
  • Jul 28, 2014 7:02pm Jul 28, 2014 7:02pm
and right now Nikkei is up, let's just keep it that way.
I'm off to sleep.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #47,212
  • Jul 28, 2014 7:07pm Jul 28, 2014 7:07pm
Bulls could be right but I still maintain whilst this market is putting everyone to sleep the real play is for an un-wind of multi month carry traders.
Nice inside bar set up on the daily. Could have a stop entry either side I guess. I prefer the sell stop.
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  • #47,213
  • Jul 28, 2014 7:23pm Jul 28, 2014 7:23pm
Quoting Fx_Anil
The symmetrical triangle is likely to restrict the UJ range for the day between 101.75 and 101.90. However, a break of 101.90 can fuel it towards 102.10 and the daily close above 102.10 is likely to pave the way for the test of important resistance near 102.30 breaking which 103 seems possible. On the downside, the lower line and the 40-EMA supports the pair near 101.75, breaking which 101.50 can't be denied. {image}
I like your analysis too. Just subscribed. Keep up the good work!
Please check out my blog at https://from-zero-to-hero . net
  • #47,214
  • Jul 28, 2014 10:34pm Jul 28, 2014 10:34pm
Quoting Ken A
{quote}
Would those "ingrates" happen to be in-laws?

Feel for ya, brother ... .
Fireworks are fun ... as long as you don't blow your fingers off.
  • #47,215
  • Jul 28, 2014 10:37pm Jul 28, 2014 10:37pm
My two cents worth: pair's in a long-term range, and I would prefer to buy toward the bottom of the box (101.20-ish):

Attached Image (click to enlarge)
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Fireworks are fun ... as long as you don't blow your fingers off.
  • #47,216
  • Jul 28, 2014 10:55pm Jul 28, 2014 10:55pm
Quoting Pharm0r
{quote} Still need a HH... A dip to 101.55 before we head higher isnt unexpected My tp is 102.12
Got it in the last 10 minutes of trading day. 102.12 still valid for me. Although it's still possible, at this point Im expecting TP before retrace.
  • #47,217
  • Jul 28, 2014 11:08pm Jul 28, 2014 11:08pm
Just went short. We'll see.
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  • #47,218
  • Jul 28, 2014 11:09pm Jul 28, 2014 11:09pm
Quoting yeniful
I'm up 25 pips on my long usd/jpy from 101.200 and I'm not letting go. Even if my position goes down 50 pips I'm still holding on to this number in the 101 area. There is no reason to be short on the yen right now. Being short when it peaked at 103 and 103.50 would have been the time to short and to get out now. The only thing usd/jpy is going to do is rise (get weaker)

up 50 pips at the moment. still holding long until I see a reverse movement
  • #47,219
  • Jul 28, 2014 11:16pm Jul 28, 2014 11:16pm
Quoting yeniful
up 50 pips at the moment. still holding long until I see a reverse movement
Ok not a bad idea to hold on. I closed out of my long for +78 pips, I think... in my live account. Demo account, I'm still holding on too.
Please check out my blog at https://from-zero-to-hero . net
  • #47,220
  • Edited 1:13am Jul 29, 2014 12:11am | Edited 1:13am
If Price continues within this range then it may come to 101.70-75 level again.
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