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USD/JPY Discussion

  • #48,441
  • Sep 23, 2014 5:37am Sep 23, 2014 5:37am
Quoting Pharm0r
Pending L 108.35
Canceled this last night before bed. US may try to bring it back here- and I'll be waiting.
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  • #48,442
  • Sep 23, 2014 5:56am Sep 23, 2014 5:56am
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  • #48,443
  • Sep 23, 2014 8:35am Sep 23, 2014 8:35am
Quoting Pharm0r
{quote} Canceled this last night before bed. US may try to bring it back here- and I'll be waiting. {image}
Walked away for 20 minutes and missed my entry!

oh wait- no i didnt. Different time frame. lol
  • #48,444
  • Sep 23, 2014 10:42am Sep 23, 2014 10:42am
This pair is having hard time getting up to the 900 area now.. Hope 7pm ET doesnt bring another round of shorting
  • #48,445
  • Sep 23, 2014 10:53am Sep 23, 2014 10:53am
Ar certain times a pair becomes a technical play and others it becomes a fundamental play. One of the easiest mistakes to make is to not being able to identify which is happening when. This pair is a pure fundamental play at this stage. Trying to use technical indicators that work during ranging market on something that is trending fundamentally can only lead to lost opportunities. The pullbacks will be there but it can be a b!*ch to time those. I trade based on technicals alone but for me this one is a real keeper. One I have seen in a long time.
The price will go where it has to go.
  • #48,446
  • Sep 23, 2014 11:26am Sep 23, 2014 11:26am
Quoting Liam0530
This pair is having hard time getting up to the 900 area now.. Hope 7pm ET doesnt bring another round of shorting
i do
  • #48,447
  • Sep 23, 2014 11:27am Sep 23, 2014 11:27am
Quoting mitrapips
Ar certain times a pair becomes a technical play and others it becomes a fundamental play. One of the easiest mistakes to make is to not being able to identify which is happening when. This pair is a pure fundamental play at this stage. Trying to use technical indicators that work during ranging market on something that is trending fundamentally can only lead to lost opportunities. The pullbacks will be there but it can be a b!*ch to time those. I trade based on technicals alone but for me this one is a real keeper. One I have seen in a long time....
I'd rather miss a technical trade in line with fundamentals than just buy anywhere based on fundamentals.

Not trading is a position.
  • #48,448
  • Edited 1:21pm Sep 23, 2014 12:58pm | Edited 1:21pm
i agree with you on this, sometimes it's fundamental and sometimes it's technical. looking at all TFs, the sentiment is still long usd. it will take time for jpy to recover, after all, bank governor wants cheap yen to boost economy. their target is 2% inflation, and to achieve that they need weaker yean, no...???

Quoting mitrapips
Ar certain times a pair becomes a technical play and others it becomes a fundamental play. One of the easiest mistakes to make is to not being able to identify which is happening when. This pair is a pure fundamental play at this stage. Trying to use technical indicators that work during ranging market on something that is trending fundamentally can only lead to lost opportunities. The pullbacks will be there but it can be a b!*ch to time those. I trade based on technicals alone but for me this one is a real keeper. One I have seen in a long time....
  • #48,449
  • Sep 23, 2014 1:31pm Sep 23, 2014 1:31pm
I know there are still a couple of hours to go, but the daily candle appears to be forming a bullish hammer.....
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #48,450
  • Sep 23, 2014 1:43pm Sep 23, 2014 1:43pm
I longed this yesterday, my stop was at 108.24. I went to sleep last night and this came within like a half pip of my stop and then shot up. You should see this chart it looks it bounced off my stop on the daily chart lol.

Also yesterday I shorted the aussie, on that my stop was at .8929, it came within 3 pips of that one also, before reversing.

Talk about good stop placement, eh?
  • #48,451
  • Sep 23, 2014 2:07pm Sep 23, 2014 2:07pm
Quoting Exodus
I know there are still a couple of hours to go, but the daily candle appears to be forming a bullish hammer.....
Yep, I think you are right. Whoever are not already long probably an opportunity to go long on a dip.
  • #48,452
  • Sep 23, 2014 2:22pm Sep 23, 2014 2:22pm
Quoting teddybomber
I longed this yesterday, my stop was at 108.24. I went to sleep last night and this came within like a half pip of my stop and then shot up. You should see this chart it looks it bounced off my stop on the daily chart lol. Also yesterday I shorted the aussie, on that my stop was at .8929, it came within 3 pips of that one also, before reversing. Talk about good stop placement, eh?
Lucky you man
Think what they want you to think and do the opposite.
  • #48,453
  • Sep 23, 2014 3:08pm Sep 23, 2014 3:08pm
USDJPY still holding strong above 108.30
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"W. D. Gann said that time is the most important factor among all things."
  • #48,454
  • Sep 23, 2014 3:21pm Sep 23, 2014 3:21pm
Quoting csc2009
{quote} Yep, I think you are right. Whoever are not already long probably an opportunity to go long on a dip.
Good call. Price is more or less trapped between 108.50 and 109.45 range.
  • #48,455
  • Sep 23, 2014 6:45pm Sep 23, 2014 6:45pm
Shorting session again? Lol
  • #48,456
  • Sep 23, 2014 7:00pm Sep 23, 2014 7:00pm
Quoting Liam0530
Shorting session again? Lol
Yup. I was eating dinner when bells rang in my trader. I got in a small short at 108.650 and sold at 108.500. But still...a drop from 108.8 to 108.5 in 25 minutes? That was one big short sale.
  • #48,457
  • Sep 23, 2014 9:33pm Sep 23, 2014 9:33pm
Strong sell off before the Tokyo session, but bounced back quickly at open. Let's see if we get another bearish European session.
  • #48,458
  • Sep 23, 2014 11:30pm Sep 23, 2014 11:30pm
I have a feeling the bears will try and test the 108.3 mark once more-15min, 30min, and hourly chart indicates a downward movement.

We've a possible chance to load longs around 108.3, but the 180 line better hold-that's probably one of my main SL margins (actual support is a bit lower, but whole number prices always tended to be good indicators).

The major USD/JPY movement will probably happen when I'm asleep.....better pay attention to my TP & SL margins.

When will you load longs? 108.35? 108.3? 108.25?

Also, does anyone think we'll not reach 108.3 and instead have a rebound around 108.5?
  • #48,459
  • Sep 23, 2014 11:57pm Sep 23, 2014 11:57pm
Quoting Vermillion
I have a feeling the bears will try and test the 108.3 mark once more-15min, 30min, and hourly chart indicates a downward movement. We've a possible chance to load longs around 108.3, but the 180 line better hold-that's probably one of my main SL margins (actual support is a bit lower, but whole number prices always tended to be good indicators). The major USD/JPY movement will probably happen when I'm asleep.....better pay attention to my TP & SL margins. When will you load longs? 108.35? 108.3? 108.25? Also, does anyone think we'll not reach 108.3...

i think maybe in US session, and with a good new homes sales report, we should get back some bullish momentum, but we will need a bit more to get us past this 109.2 point, then on Thurs. we have unemployment claims and if that shows us good stuff, that might be able to push us through, but with geopolitical BS going on, i dont know.. i see this going back down testing 108.2 again;without good data next 2 days, i could see this break through 108 and hopefully see some buying action at the 107.9 mark, anything lower then that im going to have to eat my losses,
  • #48,460
  • Sep 24, 2014 12:21am Sep 24, 2014 12:21am
The pair confirmed a positive closing last night despite a drop below 108,30 forming even a positive day reversal but only a daily closing tonight above 109,01 will support a resumption of the move up! The indicators of the daily chart are still well positive but those of the s/t charts are negative suggesting further consolidation/ correction with still the 200 hours line at 108,10 the attraction! Only an hourly closing above 109,00 will resume the move up confirming a positive reversal with the target now only at 109,96! We stay short (108.82) waiting for a possible test of the 200 hours line; we buy a 108,15 undershooting but we avoid a firm bid!!
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