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USD/JPY Discussion

  • #47,561
  • Aug 12, 2014 12:09pm Aug 12, 2014 12:09pm
102.20 is turning into a support area. I would be very cautious about shorting with a target in the 99's and a stop at 102.4. Talk about close stops and crazy targets lol
  • #47,562
  • Aug 12, 2014 12:10pm Aug 12, 2014 12:10pm
Quoting yeniful
{quote} Right play my man! It's in that 102.100 to 102.350 range but its in a downward movement the last 12 days so its the right move. stick with the trend!
That is suicidal trading
  • #47,563
  • Aug 12, 2014 2:56pm Aug 12, 2014 2:56pm
The coming GDP report will decide the direction.... Standby your SL.
  • #47,564
  • Aug 12, 2014 4:40pm Aug 12, 2014 4:40pm
greatest part about the last 6 months trading the yen has been that if you were long you could make money long term and if you were short you can too.
The 200 pip range has made everyone a winner if you held out and were patient.

I'm short on usd/jpy. The last 3 attempts to go higher have all been shot down with downtrending line on 8/2/14 @ 103.259 and 8/5/14 @102.900.
We are on the downtrending line where the trend will continue after the news in5 minutes.

Even if usd/jpy were to shoot up after this GDP news it will come back down as it has in the last few times. Patience is money
  • #47,565
  • Aug 12, 2014 7:01pm Aug 12, 2014 7:01pm
Quoting FXSayWhat
{quote} sergeibell, everyone titled to their own option. That's fine. In trading UJ pair, I weight a lot more on dollar than Yen and have good success rate. If you favor more in Yen, I'd say you go for it. BTW, when you say one of the "main" reason, how much is "main" in terms of percentage? 10%? 50%? 80%? Now, in terms of how the monetary policies from both Dollar and Yen in reaction to USDJPY, someone just have to knock me out silly to make me believe the 26-week range in UJ has more to do with Yen than Dollar. {image}
Its half of the picture as I said FXSay, If you notice previous to the tight 2014 range there was a bullish bias which was driven mainly by BoJ policies and later the Fed Tapering. This year we have had the taper thing discounted but no reaction from the BoJ, all data signals a stronger USD but not a JPY however the pair is stuck in this range, so I would say that I would have to give you half a knock out cause the pair is not moving as long as the FED doesnt shift monetary policy and the BoJ fails to deliver. Im not saying the pair is only driven by the JPY, but I DO say that analyzing it gives you a clear picture... However you know nothing in this markets are for certain and it is almost logical that someone goes inclined towards weighing one over the other.. but Im saying we should have a more balanced approach..but indeed if it works for you is perfect.. each one of us have a totally different strategy and is totally fine.
  • #47,566
  • Aug 12, 2014 7:10pm Aug 12, 2014 7:10pm
We will most certainly dip below 102 this week on s&p selling. However not really much going on with this pair. A spike up to 102.50+ would be really nice to go for a good sell swing...
  • #47,567
  • Aug 12, 2014 7:13pm Aug 12, 2014 7:13pm
102.300 area hasn't been broken through now on a 3rd attempt in 24 hours and with the GDP news barely affecting.
I just dont see any uptrend here.
Short is the right move here. Has been
  • #47,568
  • Aug 12, 2014 9:31pm Aug 12, 2014 9:31pm
Anyone one trading CAD/JPY? Any advice for this pair?
  • #47,569
  • Aug 12, 2014 11:29pm Aug 12, 2014 11:29pm
Well, something is going on...USDJPY doesn't respond adequately to Dollar Index at this time.
The Market pays you to be disciplined
  • #47,570
  • Aug 13, 2014 12:12am Aug 13, 2014 12:12am
Quoting teddybomber
102.20 is turning into a support area. I would be very cautious about shorting with a target in the 99's and a stop at 102.4. Talk about close stops and crazy targets lol
The stop at 102.40 is correct, the target is a little ambitious. Ok, a lot ambitious...
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  • #47,571
  • Aug 13, 2014 12:21am Aug 13, 2014 12:21am
Weaker GDP numbers met the expectations and is largely expected to restore the JPY strength should the pair fails to break 102.40-45 region. However, the minutes from the recent BoJ meeting revealed that the policy makers were scattered about the economic outlook of the world’s third largest economy as uncertainty about the global export market dent the inflation outlook, which can become additional load for the JPY weakness. However anything above 102.80 isn't expected and the sellers are largely invited to capitalize the move.
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  • #47,572
  • Aug 13, 2014 12:22am Aug 13, 2014 12:22am
Quoting sergeibell
{quote} Its half of the picture as I said FXSay, If you notice previous to the tight 2014 range there was a bullish bias which was driven mainly by BoJ policies and later the Fed Tapering. This year we have had the taper thing discounted but no reaction from the BoJ, all data signals a stronger USD but not a JPY however the pair is stuck in this range, so I would say that I would have to give you half a knock out cause the pair is not moving as long as the FED doesnt shift monetary policy and the BoJ fails to deliver. Im not saying the pair is only...
Thank you and i will value your additional input from the JP side. I wish you do well too.
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
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  • #47,573
  • Aug 13, 2014 12:40am Aug 13, 2014 12:40am
JPY index closing big red off our GDP figures as expected
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All posts are my personal opinion
  • #47,574
  • Aug 13, 2014 12:41am Aug 13, 2014 12:41am
UJ just skyrocketed.....whats happening?
  • #47,575
  • Aug 13, 2014 12:57am Aug 13, 2014 12:57am
Quoting pohchuan
UJ just skyrocketed.....whats happening?
here is your skyrocket...
it get interesting now
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just do it
  • #47,576
  • Aug 13, 2014 1:22am Aug 13, 2014 1:22am
welp, here we are 102.50….. enjoy it while it lasts.
  • #47,577
  • Aug 13, 2014 1:37am Aug 13, 2014 1:37am
So overbought.I prepare some drop.
  • #47,578
  • Aug 13, 2014 2:12am Aug 13, 2014 2:12am
Quoting Ck87
welp, here we are 102.50….. enjoy it while it lasts.

Where do you see drop? Is it in up trend?
The Market pays you to be disciplined
  • #47,579
  • Aug 13, 2014 3:52am Aug 13, 2014 3:52am
Quoting mima
{quote} Where do you see drop? Is it in up trend?
I could definitely be wrong but I see it breaking lower than 102.
  • #47,580
  • Aug 13, 2014 5:35am Aug 13, 2014 5:35am
Quoting gstup
So overbought.I prepare some drop.

The expected drop.I'm out.
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