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USD/JPY Discussion

  • #50,621
  • Nov 18, 2014 10:06pm Nov 18, 2014 10:06pm
now that the YEN cleared 117, I see 120 next in line. The numbers out of Japan were pretty bad this week so they need a weaker currency to bring in tourists to spend because locals are not spending. The weaker currency will also help local manufacturers export more product overseas which will help earnings and highe earnings justifies stock market rally. For now it is buy the dips on the YEN and on the Nikkei Index.
  • #50,622
  • Nov 18, 2014 10:08pm Nov 18, 2014 10:08pm
Quoting slk
{quote} Where is the weekly pivot ? Tks.
http://www.actionforex.com/markets/p...2010040848154/
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  • #50,623
  • Nov 18, 2014 10:19pm Nov 18, 2014 10:19pm
Quoting Liam0530
{quote} so think about a drop from 120 to 115 .. not specifically you but alot of people think this will touch 105 and under, NOT HAPPENING the diverging monetary policies of US vs rest of world will keep dollar a buy on dips for a long time (unless something devastating happens)
Well i dont see a drop to 105 any day very soon That would take some radical stats to make that happen. But a healty drop from here (117.50-118) could be expected as PA indicate bulls are running out of steam. How much? 2,3 - 400 pips, but it will not be straight down as it will not go straight up either. It could be that we need to touch 120, but then the drop would become larger also.. I love trends, but i try not to get tunnelvision.. ride the swings.

Also remember that suddenly, out of nowhere, stats swings and suddenly the "weak" currency starts to look strong and then positions shifts. But the yen stats really don't look strong yet so, we can be calm, but it just takes a couple of good news to get out and things change..... FAST!
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  • #50,624
  • Nov 18, 2014 10:20pm Nov 18, 2014 10:20pm
All I can see is that more than ever banks are F..ing with anything that becomes too obvious. Plus too much going on with Japan and they may just decide to bull upp the yen in reverse to their package started 2 years ago. I see it as a 50 50 trade. can go either way, and it will move big. Plus I ve seen 2 times in the last 2 years, where the chart moved opposite 2500 pips 30 secs after Japans new package released
  • #50,625
  • Nov 18, 2014 10:22pm Nov 18, 2014 10:22pm
Quoting NoCoolNick
{quote} Well i dont see a drop to 105 any day very soon That would take some radical stats to make that happen. But a healty drop from here (117.50-118) could be expected as PA indicate bulls are running out of steam. How much? 2,3 - 400 pips, but it will now be straight down as it will not go straight up either. It could be that we need to touch 120, but then the drop would become larger also.. I love trends, but i try not to get tunnelvision.. ride the swings. Also remember that suddenly, out of nowhere, stats swings and suddenly the...
just looking for a quick pull to 116 hopefully get it tomorrow then long it with the house on this next pullback. Price has been going in 200 pip increases 100 pips or so down. 114-116 then down to 115, 115-117 then down to 115.5, now 115.5 to 117.5 and hopefully down to 116.5 we'll see though.
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  • #50,626
  • Nov 18, 2014 10:23pm Nov 18, 2014 10:23pm
A test of 117.00 again I think would be a good time for a long IMO.
  • #50,627
  • Nov 18, 2014 10:24pm Nov 18, 2014 10:24pm
Looking at 117.50 as a TP for now, could be all we get. Nothing exciting out of BOJ and PA has been itchy lately. Would think everyone set them self up just below 117 for some juicy BOJ statement, with the lack of it, profittaking could take off at any keylevel soon.
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  • #50,628
  • Nov 18, 2014 10:28pm Nov 18, 2014 10:28pm
Quoting NoCoolNick
{quote} Well i dont see a drop to 105 any day very soon That would take some radical stats to make that happen. But a healty drop from here (117.50-118) could be expected as PA indicate bulls are running out of steam. How much? 2,3 - 400 pips, but it will now be straight down as it will not go straight up either. It could be that we need to touch 120, but then the drop would become larger also.. I love trends, but i try not to get tunnelvision.. ride the swings. Also remember that suddenly, out of nowhere, stats swings and suddenly the...
dont forget the same was said at 112-113-114-115-116....... but now we hit pass 117 going 120 and people are still wishing for a major drop!! Lets be realistic!!
  • #50,629
  • Nov 18, 2014 10:31pm Nov 18, 2014 10:31pm
Quoting NoCoolNick
Looking at 117.50 as a TP for now, could be all we get. Nothing exciting out of BOJ and PA has been itchy lately. Would think everyone set them self up just below 117 for some juicy BOJ statement, with the lack of it, profittaking could take off at any keylevel soon.
If there are orders siting around 117.00 you can bet your bottom the banksters will go get them and stop out all the early longs before pushing price up.
  • #50,630
  • Nov 18, 2014 10:32pm Nov 18, 2014 10:32pm
i am ready short usd/jpy 50 std lots correction between 117.50 short my trgt 115 duration 1 week.
thanks
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  • #50,631
  • Nov 18, 2014 10:35pm Nov 18, 2014 10:35pm
Looks like they just took out a bunch of trailing stops!
  • #50,632
  • Nov 18, 2014 10:38pm Nov 18, 2014 10:38pm
Quoting irongoose
Looks like they just took out a bunch of trailing stops!
well... thats part of the game...
  • #50,633
  • Nov 18, 2014 10:40pm Nov 18, 2014 10:40pm
We might get a good setup for a short here on the GBP/JPY.
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  • #50,634
  • Nov 18, 2014 10:40pm Nov 18, 2014 10:40pm
Quoting MaryJane
{quote} pity people who certainly suffer some kind of identity crisis (so they have to jerk off their ego against others to prove there status of existence on this Earth) frequent this forum.......
MJ what news really moves the N225 since you have some experience with it?... The all indu news didn't really move it much and thats looking on a downward trend!!
  • #50,635
  • Nov 18, 2014 10:45pm Nov 18, 2014 10:45pm
Quoting poseikwame
{quote} dont forget the same was said at 112-113-114-115-116....... but now we hit pass 117 going 120 and people are still wishing for a major drop!! Lets be realistic!!
well, i don't know, i jumped in long sunday after BOJ friday aiming for min 115, didn't get all filled as i had a lot waiting at the gap. After 115 hit i have played the swings. ANd yes, now waiting for a healty correction as i will ride down and then get back in long when it bottoms out. I follow price and act on it, not what all other ppl say will happen, because it rarely works out like they say. Or it works out but not how they wanted it and so on..
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  • #50,636
  • Nov 18, 2014 10:51pm Nov 18, 2014 10:51pm
Quoting thegmann
{quote} just looking for a quick pull to 116 hopefully get it tomorrow then long it with the house on this next pullback. Price has been going in 200 pip increases 100 pips or so down. 114-116 then down to 115, 115-117 then down to 115.5, now 115.5 to 117.5 and hopefully down to 116.5 we'll see though. {image}
Could be we only get 116.50, to early to tell, and first we need to get a corretion started without that we go nowhere but up
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  • #50,637
  • Nov 18, 2014 10:53pm Nov 18, 2014 10:53pm
Quoting MaryJane
{quote} a valid view, though i see supply @117 slowly giving way higher, and in my view, it's just a round number with stops above, nothing more (but nothing less!) ...however, i suppose this thing to turn around for a huge correction to at least 110ish, starting somewhere between 117.60 and 118.30 (max 119.80). BOJ today / FED minutes tomorrow could care for that pump'n'dump. indices performed great y-day, nikkei needs to catch up so i!m long to 117.50 then i'll look to short this fcuker finally best of luck to everyone, bulls and bears
Good call
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  • #50,638
  • Nov 18, 2014 11:42pm Nov 18, 2014 11:42pm
Quoting bluenishu
i am ready short usd/jpy 50 std lots correction between 117.50 short my trgt 115 duration 1 week. thanks {image}
hope you're right. I've bet my ass on it
BlackHands
  • #50,639
  • Nov 18, 2014 11:45pm Nov 18, 2014 11:45pm
Japanese Prime Minister Shinzo Abe called an early election in a bid to extend his term and salvage his Abenomics policies after the country fell into recession
  • #50,640
  • Nov 19, 2014 12:44am Nov 19, 2014 12:44am
Quoting poseikwame
{quote} dont forget the same was said at 112-113-114-115-116....... but now we hit pass 117 going 120 and people are still wishing for a major drop!! Lets be realistic!!
Ive been with this thing after the first major hike to 110, than back to 105 until now, 117, I doubt any pull backs until at least over 120 or another 2 air planes takeout 3 buildings in the US again....
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