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USD/JPY Discussion

  • #48,621
  • Oct 1, 2014 1:56am Oct 1, 2014 1:56am
Quoting marshalmax
{quote} holy shit no! but hey everyone has their own system and view points. I use a 2 candle low. This means if price whips around its okay unless it retraces more than the last 2 days range when it should be taken seriously.
Your system seems good to me.
I am an advocate of no stops (mostly) but you need something else as well.
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #48,622
  • Oct 1, 2014 2:03am Oct 1, 2014 2:03am
Good Morning!

Today's S/R Levels on MT4 Templates

EURO
CABLE
AUDUSD
USDJPY
GOLD

http://www.forexfactory.com/showthre...83#post7771783

EURO PINK
CABLE PINK
FX is a Bitc*h!, No one keeps me wake all night but FX does!!
  • #48,623
  • Oct 1, 2014 7:32am Oct 1, 2014 7:32am
USD/JPY down. I repeat, USD/JPY down. Somehow, my short at 109.9 actually made it. Wow.

Set up to reload between 109.5 and 109.2.
  • #48,624
  • Oct 1, 2014 7:35am Oct 1, 2014 7:35am
Why it has gone down
  • #48,625
  • Oct 1, 2014 7:35am Oct 1, 2014 7:35am
to all mrs watanabes, where is the support???
  • #48,626
  • Oct 1, 2014 7:37am Oct 1, 2014 7:37am
Positive ADP is not well received by the pair......
  • #48,627
  • Oct 1, 2014 7:40am Oct 1, 2014 7:40am
Quoting bluetoss
to all mrs watanabes, where is the support???
109.60/109.50
The price will go where it has to go.
  • #48,628
  • Oct 1, 2014 7:43am Oct 1, 2014 7:43am
Quoting sthobani
Why it has gone down
Because the dollar was overspeculated in favor of the long. If you look at the RSI for the USD/JPY, it stayed at almost overbought levels for an hour. This was because everyone expected the announcement to be bullish, not neutral. Once you fail to meet people's expectations, it's only natural they'll be disappointed.

Buy the rumor, sell the fact. It's a classic representation of this motto.

Just close your positions for now, and wait for a reload a bit later. The market is feeling strongly bearish right now, though whether that momentum will last even for half an hour is open to debate.
  • #48,629
  • Oct 1, 2014 7:43am Oct 1, 2014 7:43am
Quoting sthobani
Why it has gone down
It was not good enough to blast 110. Dropping before 10 AM news release. Expect it to recover. Although 110 may now look more like a channel than a spike.
The price will go where it has to go.
  • #48,630
  • Oct 1, 2014 7:56am Oct 1, 2014 7:56am
Quoting mitrapips
{quote} It was not good enough to blast 110. Dropping before 10 AM news release. Expect it to recover. Although 110 may now look more like a channel than a spike.
Agreed. Reloading at 109.6 and 109.5, TP at around 110, subject to modification depending on chart progress. 40-50 pips in profit isn't bad, no?
  • #48,631
  • Oct 1, 2014 7:58am Oct 1, 2014 7:58am
Quoting Vermillion
{quote} Agreed. Reloading at 109.6 and 109.5, TP at around 110, subject to modification depending on chart progress. 40-50 pips in profit isn't bad, no?
Nope, but why not ask for more
The price will go where it has to go.
  • #48,632
  • Oct 1, 2014 8:00am Oct 1, 2014 8:00am
Doesnt look like we will get good ISM.....

The higher ISM figure above 59 occurred in 2011. Since then, it has ranged between 50 to 58.

Look like a dive is inevitable.
  • #48,633
  • Oct 1, 2014 8:00am Oct 1, 2014 8:00am
Quoting mitrapips
{quote} Nope, but why not ask for more
That's why I said "subject to modification". We have another major news coming in about an hour or so. Don't worry, I plan on milking this pair for all its worth....or at least until it reaches 110.6

Edit: Got in a long at 109.58. Waiting for bulls to jump at the ISM. Let the speculation begin.

Oh, and it doesn't matter whether the ISM IS good or bad. The eager bulls won't stop at a chance to recover from the current oversold position at around 109.5/109.6. We'll squeeze a couple dozen pips from this.
  • #48,634
  • Oct 1, 2014 8:05am Oct 1, 2014 8:05am
thanks MARKET MAKER, i got some long position.
don't find the correct answer in market. just feel it and follow the wave.
  • #48,635
  • Oct 1, 2014 8:06am Oct 1, 2014 8:06am
Quoting pohchuan
Doesnt look like we will get good ISM..... The higher ISM figure above 59 occurred in 2011. Since then, it has ranged between 50 to 58. Look like a dive is inevitable.
Even it comes bad (within reason), this will still go up
The price will go where it has to go.
  • #48,636
  • Oct 1, 2014 8:07am Oct 1, 2014 8:07am
Quoting Vermillion
{quote} That's why I said "subject to modification". We have another major news coming in about an hour or so. Don't worry, I plan on milking this pair for all its worth....or at least until it reaches 110.6 Edit: Got in a long at 109.58. Waiting for bulls to jump at the ISM. Let the speculation begin.
Good luck and hold 'em tight
The price will go where it has to go.
  • #48,637
  • Oct 1, 2014 8:10am Oct 1, 2014 8:10am
Even after strong ADP numbers, the USD started liquidating gains and the UJ is testing important support level. A sustained break of 109.60 can cause the pair to test 109.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 38 KB
  • #48,638
  • Oct 1, 2014 8:13am Oct 1, 2014 8:13am
Quoting yunyoungro
thanks MARKET MAKER, i got some long position.

This isn't market making. This is just overeager bulls on the dollar suffering for entering the market late at a time of uncertain results for announcements.


You NEVER want to buy just because others are buying; you also have to consider other facts:

Why are they buying?
Is the currency pair oversold?
Do we have any major announcements or statistics coming up soon?
What are the expectations of said results?
What analysis or data could explain the anomaly in the charts? Was there an unexpected announcement?
  • #48,639
  • Oct 1, 2014 8:41am Oct 1, 2014 8:41am
Just woke up .. *yawns*

wtf isgoing on lol
  • #48,640
  • Oct 1, 2014 9:09am Oct 1, 2014 9:09am
What a serious sell off..its only been 2 hours. If this continues then this will be the "nasty correction" everyone was scared of

uh oh
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