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USD/JPY Discussion

  • #48,461
  • Sep 24, 2014 6:06am Sep 24, 2014 6:06am
http://www.forexlive.com/blog/2014/0...g-orders-more/
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  • #48,462
  • Sep 24, 2014 7:58am Sep 24, 2014 7:58am
Looks like price is consolidating around 108.50 into a bull flag, just ahead of news event risk this week. Anyone else think 110 is still a possibility this week? I'm thinking 112+ during next month.
  • #48,463
  • Sep 24, 2014 9:07am Sep 24, 2014 9:07am
Nice new home number......110 soon.
  • #48,464
  • Sep 24, 2014 9:09am Sep 24, 2014 9:09am
even after the good news bulls find it hard to break up.... and the round 109 resistance is just 10 pips away.
  • #48,465
  • Sep 24, 2014 9:11am Sep 24, 2014 9:11am
Looks like the market makers got the news an hour early
  • #48,466
  • Sep 24, 2014 2:53pm Sep 24, 2014 2:53pm
110 maybe too high,but 109.50 maybe possible.
  • #48,467
  • Edited 3:22pm Sep 24, 2014 3:05pm | Edited 3:22pm
Quoting gstup
110 maybe too high,but 109.50 maybe possible.
Right now? In the next 5 hours? Doubt it. Currently the USD/JPY stopped shy of the 109.1-109.2 resistance, and its relative strength indicator (RSI) indicates that it's overbought. It's clearly overbought on the 5min & 15min. charts, and even the hourly chart suggests that going solidly past 109.2 is a pipe dream for the next few hours. We're likely going to see a small correction-the question is whether it'll go down to 108.8, 108.5, or 108.2/108.3 before rebounding. I'm definately bullish on this currency, but the 109.5~110 mark will have to be left for Thursday or Friday minimum.

It will NOT go to 109.5 tonight; it'll have to cross 40 pips within a short amount of time. The New York market is about to close in 1 hour; after that comes the Asian market. And for the USD/JPY, the New York market tends to move prices up, while the Asian market drives it down. It may hover up to 109.2, but no it's HIGHLY unlikely we'll see 109.5 tonight.

Better ready to reload longs again around 7pm ET (or maybe 9pm).

Current status: Going short 109.10. SL at around 109.3 Targets (TP) at 108.8, 108.5, or 108.2/108.3. TP will be modified depending on the rate of decline & whatever new updates come up.

Of course, given the see-sawing momentum of this range and the weird movements of the USD/JPY as of late, I could be wrong.

Can we get opinions from others? What do you think? Going to 109.5? Or is 109.2 the peak for tonight?
  • #48,468
  • Sep 24, 2014 3:25pm Sep 24, 2014 3:25pm
Quoting Vermillion
{quote} Right now? In the next 5 hours? Doubt it. Currently the USD/JPY stopped shy of the 109.1-109.2 resistance, and its relative strength indicator (RSI) indicates that it's overbought. It's clearly overbought on the 5min & 15min. charts, and even the hourly chart suggests that going solidly past 109.2 is a pipe dream for the next few hours. We're likely going to see a small correction-the question is whether it'll go down to 108.8, 108.5, or 108.2/108.3 before rebounding. I'm definately bullish on this currency, but the 109.5~110 mark will have...
watch for the movements at 7pm ET and 9pm ET .. it really shows how the whole session will go (and most likely the London session) .. if they arent shorting (like they have been doing all week), then it will break through the 109.2 point which is pretty strong right now. unemployment claims tom. morning will be big too, if it is strong data, expect a nice run up... imo

im still long 108.9 , 108.6 , and 108.3 ..
  • #48,469
  • Sep 24, 2014 3:28pm Sep 24, 2014 3:28pm
Quoting Liam0530
{quote} watch for the movements at 7pm ET and 9pm ET .. it really shows how the whole session will go (and most likely the London session) .. if they arent shorting (like they have been doing all week), then it will break through the 109.2 point which is pretty strong right now. unemployment claims tom. morning will be big too, if it is strong data, expect a nice run up... imo im still long 108.9 , 108.6 , and 108.3 ..

I don't know about your 108.9 long ( i don't know how much leverage you have), but I say stick to 108.6 and 108.3. The market isn't going to stay in the low 108s, and I'm still bullish for tomorrow and friday. My aim is to scalp 20~50pips with this short. At least 10 if things look bad.

I'm practically pouring my eyes over the 108.8 mark.
  • #48,470
  • Sep 24, 2014 3:33pm Sep 24, 2014 3:33pm
Hello

My account needed that

Yen Bus was tad over loaded

My small longs all opened right to 107.5 to 110+115 etc

Went back in with pending orders lower down again 108.5 etc

Feel a lot happier if we can smoke 109.5

Not keen carrying the big whoppers over the weekend
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  • #48,471
  • Sep 24, 2014 3:35pm Sep 24, 2014 3:35pm
Quoting eliteincome
Hello My account needed that Yen Bus was tad over loaded My small longs all opened right to 107.5 to 110+115 etc Went back in with pending orders lower down again 108.5 etc Feel a lot happier if we can smoke 109.5 Not keen carrying the big whoppers over the weekend {image}
yess
  • #48,472
  • Sep 24, 2014 3:59pm Sep 24, 2014 3:59pm
Bah. I can't take the pressure anymore. Closed 2 lots at 109.42. I'll take that $116 over he possibility of losing that profit and more losses on top of that.


.....I made my minimum income for the day. I'll just wait and watch now.
  • #48,473
  • Sep 24, 2014 5:13pm Sep 24, 2014 5:13pm
Quoting Vermillion
{quote} I don't know about your 108.9 long ( i don't know how much leverage you have), but I say stick to 108.6 and 108.3. The market isn't going to stay in the low 108s, and I'm still bullish for tomorrow and friday. My aim is to scalp 20~50pips with this short. At least 10 if things look bad. I'm practically pouring my eyes over the 108.8 mark.
my 108.9 long ive had since friday, got in too early, i closed my other trades from 107.0 when it hit 109.2 and reloaded on that pullback at 108.9, didnt expect a bigger pullback, (plus i jumped the gun) but thats okay.. WE ARE BULLISH

i use 2 lots initially at my 108.9 (i always trade no less then 2 lots) , my other 2 trades at the 108.60 and 108.30 are 3.5 mini lots (35 cent each)
  • #48,474
  • Edited 6:11pm Sep 24, 2014 5:44pm | Edited 6:11pm
yea.. think this is it. bulls getting back in action.. lets see

  • #48,475
  • Sep 24, 2014 6:10pm Sep 24, 2014 6:10pm
Bulls just drove prices to 109.222

When should we enter longs to scalp this? Will it possibly go down? the RSI is pretty high right now (well over 70, meaning overbought)
  • #48,476
  • Sep 24, 2014 6:11pm Sep 24, 2014 6:11pm
Passed the weekly open/high and forming a parabolic rally on the daily. 110 here we come!
  • #48,477
  • Sep 24, 2014 6:17pm Sep 24, 2014 6:17pm
Quoting Vermillion
Bulls just drove prices to 109.222 When should we enter longs to scalp this? Will it possibly go down? the RSI is pretty high right now (well over 70, meaning overbought)
the reload for longs was that pullback down to 108.2 ... bull momentum is on its way to 110 and up, if you want to scalp this, i would wait for a small retraction back

imo should only long this pair, from reloading on pullbacks

btw shout out out to the guys shorting the pullbacks by scalping, and also longing from bottem of pullbacks, cause i think thats hard to do, i only go long, i only buy, i dont short, at least not this pair
  • #48,478
  • Sep 24, 2014 6:24pm Sep 24, 2014 6:24pm
Quoting Vermillion
Bulls just drove prices to 109.222 When should we enter longs to scalp this? Will it possibly go down? the RSI is pretty high right now (well over 70, meaning overbought)
What are you, a teenager?
The price will go where it has to go.
  • #48,479
  • Sep 24, 2014 6:27pm Sep 24, 2014 6:27pm
since so many are expecting 110, looks reasonable to open some short here
  • #48,480
  • Sep 24, 2014 7:16pm Sep 24, 2014 7:16pm
Quoting dodoei
since so many are expecting 110, looks reasonable to open some short here
lol . has this strategy or whatever made you money?
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