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USD/JPY Discussion

  • #49,401
  • Oct 27, 2014 9:27pm Oct 27, 2014 9:27pm
Quoting Singha83
I am a bit confused on what's going on. On what data did the U/J get this boost from? Unemployment claims didn't meet expectations correct? I might be the only person thinking this to be one huge stop hunt i guess :/
If I am correct, unemployment claims actually went up but the average went down so basically it wasn't so positive as it was pitched everywhere. Im more of a technical person but anyone who is more geared with fundamentals ... am I correct on how I interpreted last week?
I love forex. One day it will love me back.
  • #49,402
  • Oct 27, 2014 9:46pm Oct 27, 2014 9:46pm
Quoting Singha83
{quote} If I am correct, unemployment claims actually went up but the average went down so basically it wasn't so positive as it was pitched everywhere. Im more of a technical person but anyone who is more geared with fundamentals ... am I correct on how I interpreted last week?

fundies go deeper, past data, and current data, i would say any number under 300k would be good data, but also add in technical levels, as in the breakout point- 107.4 (which was trying to break all week) then the buying will continue unless the claim wouldve been over 300k,also look at CPI data the day before that came in as expected... so put all that together plus recovery of the sell off of last 2 weeks, and you have nice strong bull momentum..... at least thats my view, and i am very big on fundamentals.

but mind you the week before - it came in as the lowest amount of claims in 6 years, and it dropped, (risk off mode in the market).... that is why the market is one of the hardest ways to make money, so volatile so unpredictable, and so damn BEAUTIFUL

:nerd:
  • #49,403
  • Oct 27, 2014 11:57pm Oct 27, 2014 11:57pm
Thanks for the detailed explanation.
I love forex. One day it will love me back.
  • #49,404
  • Oct 28, 2014 4:40am Oct 28, 2014 4:40am
I am looking for a long :

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Money moves the market, not an indicator.
  • #49,405
  • Oct 28, 2014 4:44am Oct 28, 2014 4:44am
Quoting andoseg2
I am looking for a long : {image}
Aggresive Entry minmum reward of 3 :

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Money moves the market, not an indicator.
  • #49,406
  • Oct 28, 2014 7:36am Oct 28, 2014 7:36am
The Core Durable Goods Orders and Durable Goods Orders were actually very bad, i dont even think that positive CB Consumer Confidence can drag it up, unless it will be extremely positive. I reckon the price will test 107 very soon
  • #49,407
  • Oct 28, 2014 7:43am Oct 28, 2014 7:43am
Looks bad....

107 is possible.....but FOMC may provide an uplift tomorrow.
  • #49,408
  • Oct 28, 2014 10:02am Oct 28, 2014 10:02am
Good CB data, why bull is not running ????

Strange....FOMC is mounting a surprise tomorrow ? QE to stay put ??
  • #49,409
  • Oct 28, 2014 8:33pm Oct 28, 2014 8:33pm
Anyone have any clue why this is going up so strong ? Decent jpy data. Hmm think everyone is expectingoing positive for us frim fomc.
  • #49,410
  • Oct 28, 2014 9:17pm Oct 28, 2014 9:17pm
Quoting phildow32
Anyone have any clue why this is going up so strong ? Decent jpy data. Hmm think everyone is expectingoing positive for us frim fomc.
most of forex moves arent from single investors. the rates move from banks, government funds and institutions. theres more demand long right now on the yen.
  • #49,411
  • Oct 28, 2014 9:23pm Oct 28, 2014 9:23pm
the 61.8 percent fib level from the 109.8 to 105.3 drop is a key level. its hovering around 108.75 right now and could be the breakout area to shoot up higher now

very strong rising channel from the last 13 days
  • #49,412
  • Edited 10:43pm Oct 28, 2014 10:24pm | Edited 10:43pm
UJ

There is so much bearish divergence going on the weekly chart + touching a very strong weekly resistance. Instead of this touching 115 or 140... I wouldn't be surprised if it came down to the sub 100 levels before heading towards the 115+ levels.

Even on the monthly.... its a major resistance test. It has tested this level in 3 times.... 1993, 1995 and 2008. Both 1993 and 2008, u/j was wacked down to the lower 80's while in 1995, it broke out towards the 150 level.

Bit of a side topic but Gold and Silver are ranging so however this year closes out should be an indication of what we will be dealing with in 2015.
I love forex. One day it will love me back.
  • #49,413
  • Oct 28, 2014 10:34pm Oct 28, 2014 10:34pm
Quoting Singha83
UJ There is so much bearish divergence going on the weekly chart + touching a very strong weekly resistance. Long term... instead of this touching 115 or 140... I wouldn't be surprised if it came down to the sub 100 levels. Even on the monthly.... its a major resistance test.
I'm with you on the bearish sentiment. Staying out until after FOMC. Get the feeling we're in for slight dovish tone, which will bring us down to 105s.
Enter Signature
  • #49,414
  • Oct 28, 2014 11:03pm Oct 28, 2014 11:03pm
You're forgetting about the statement from BoJ on Friday. Even if FOMC is slightly dovish (which I think has been priced in from this latest bear correction), it's expected to end QE, while the BoJ is expected to extend and expand its easing thanks to less than desired results from the tax hike. The big boys are bullish, and the small guys (us) are bearish. Therefore, I'm bullish. At worst, I expect a dip before a continuation upward next month.
  • #49,415
  • Oct 28, 2014 11:37pm Oct 28, 2014 11:37pm
Gidday Yen masters

My Yen bus has full load

Will off load in this 108.6+ area

an keep some running to 109.7+

Also trying to get a we short in

high as possible,as we know this will retrace

in a heart beat
  • #49,416
  • Oct 29, 2014 3:41am Oct 29, 2014 3:41am
IMHO, USDJPY is on the way towards 107.60 with upside resistance being 108.20.
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  • #49,417
  • Oct 29, 2014 7:38am Oct 29, 2014 7:38am
Getting sick of this range. been long from 108.00 and its not going any where. fomc right around the corner, might have to get out before it.
  • #49,418
  • Oct 29, 2014 8:48am Oct 29, 2014 8:48am
It looks like it can go up further but right now it's stuck in this area. Can it go up or is there too much resistance???
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  • #49,419
  • Oct 29, 2014 9:18am Oct 29, 2014 9:18am
Quoting fxtradeabi
{quote} Looking at your chart I'd say I dunno wtf just happened but looks like a clown exploded on your chart.
Har, Har, I was merely trying to demonstrate the fibbonaci channels with the FX Dashboard signals. The Blue spaces are 10 pip spaces signaling where I can place a buy or sell. Yes, sometimes I do get colorful on my charts. It helps me to see things better. Wait till you see my peppermint striped chart!
  • #49,420
  • Oct 29, 2014 9:22am Oct 29, 2014 9:22am
Quoting mr.stjoeguy
{quote} Har, Har, I was merely trying to demonstrate the fibbonaci channels with the FX Dashboard signals. The Blue spaces are 10 pip spaces signaling where I can place a buy or sell. Yes, sometimes I do get colorful on my charts. It helps me to see things better. Wait till you see my peppermint striped chart!

Hi i like your fx dashboard can you share it?
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