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USD/JPY Discussion

  • #47,241
  • Jul 30, 2014 6:49am Jul 30, 2014 6:49am
Quoting teddybomber
Yesterday Japan's industrial production report came in negative again. This is 5 months in a row. A Japanese official said the last time that occurred was right before Japan went into recession. This could also be causing the yen to weaken, because it could mean that Japan may need to increase QE or extend it longer than expected.
Interesting so you are saying that, it could cause the yen to rebound from these short term highs?
  • #47,242
  • Jul 30, 2014 6:53am Jul 30, 2014 6:53am
Quoting Fx_Anil
having breached the descending trend line resistance near 102.20, Can we expect 102.75-80 for UJ? There seems 20 pips gap between supports on the downside, 102.20, 102 and 101.80 (40-EMA on H4). {image}
why not the peak on 4th april.. why 7th april's peak?... just enquiring..
  • #47,243
  • Jul 30, 2014 6:54am Jul 30, 2014 6:54am
Attached Image (click to enlarge)
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  • #47,244
  • Jul 30, 2014 6:55am Jul 30, 2014 6:55am
Quoting belgeran
{quote} why not the peak on 4th april.. why 7th april's peak?... just enquiring..
Because it more or less covers many resistance points
  • #47,245
  • Jul 30, 2014 7:04am Jul 30, 2014 7:04am
Quoting Ken A
{image}
lol ... Thanks Ken. Sure am glad I didn't have to go all the way to the home page to see this.
Ghost Rider - WWTBMD?
  • #47,246
  • Jul 30, 2014 7:08am Jul 30, 2014 7:08am
Quoting albchr
{quote} lol ... Thanks Ken. Sure am glad I didn't have to go all the way to the home page to see this.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #47,247
  • Jul 30, 2014 7:10am Jul 30, 2014 7:10am
  • #47,248
  • Jul 30, 2014 7:24am Jul 30, 2014 7:24am
gonna head for a short bull to 102.5 hopefully
  • #47,249
  • Jul 30, 2014 7:24am Jul 30, 2014 7:24am
Sneaked a few green pips there on EU and UJ.
Now all closed out and waiting for GDP.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #47,250
  • Jul 30, 2014 7:32am Jul 30, 2014 7:32am
Looking Good. Bring on a hawkish FOMC minutes please.
  • #47,251
  • Jul 30, 2014 7:33am Jul 30, 2014 7:33am
Notice how price stopped on the downtrend line, which on my chart is at 102.49.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #47,252
  • Jul 30, 2014 7:37am Jul 30, 2014 7:37am
About to bust through that imo, best GDP report since 2003.
  • #47,253
  • Jul 30, 2014 7:41am Jul 30, 2014 7:41am
k i decided to go long that paid off nicely shame i used a TP while i was out for lunch this is shooting to the moon lol
  • #47,254
  • Jul 30, 2014 7:54am Jul 30, 2014 7:54am
the price did stop on the downtrend line on the Daily Chart at 102.495. but gdp figures were great and the bullish momentum is there. now on to the FOMC minutes which i suspect to be quite positive in its tone to break the downtrend line to 102.7.
  • #47,255
  • Jul 30, 2014 8:03am Jul 30, 2014 8:03am
Quoting yorkshirelad
k i decided to go long that paid off nicely shame i used a TP while i was out for lunch this is shooting to the moon lol
...and dragging my EJ positions with it!
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #47,256
  • Jul 30, 2014 8:03am Jul 30, 2014 8:03am
We have lift off
  • #47,257
  • Jul 30, 2014 8:10am Jul 30, 2014 8:10am
Any ideas on when we go short on this its got to retrace at some point or has this broken the down trend and its up from here?
  • #47,258
  • Jul 30, 2014 8:15am Jul 30, 2014 8:15am
I would not short this anytime soon. Just sit and watch or look for a pullback to go long again
  • #47,259
  • Jul 30, 2014 8:19am Jul 30, 2014 8:19am
You have to go to the longer time frames now to see where resistance lies.
There is a barrier at 102.80 -ish, but that may fall if the market believes that all is good for today.

Best to watch, as TB wrote.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #47,260
  • Jul 30, 2014 8:21am Jul 30, 2014 8:21am
thanks guys appreciate the help...ill watch!
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