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USD/JPY Discussion

  • #50,801
  • Nov 19, 2014 9:02pm Nov 19, 2014 9:02pm
Quoting Oser
{quote} agreed, frankly, I wouldn't mind if it dropped 100 pips to reload long even cheaper... I highly doubt it will go that far - but in the event that it does, I'll buy that too... I typically hold trades for days even weeks at a time so a drawn down doesn't bother me much when when eventually it is known that it will keep going higher....
Well, I think think the way price trading right now, I might even get some sleep tonight with open long positions
  • #50,802
  • Nov 19, 2014 9:18pm Nov 19, 2014 9:18pm
are USD/JPY will touch 120.xx price at this year? or USD/JPY will correction down to 114.xx?
we will see
  • #50,803
  • Nov 19, 2014 9:25pm Nov 19, 2014 9:25pm
My BEP is at 114. Should I just cut my losses and go Long to 122? Waiting for correction that never happened.
  • #50,804
  • Nov 19, 2014 9:25pm Nov 19, 2014 9:25pm
Quoting bimarpradana
are USD/JPY will touch 120.xx price at this year? or USD/JPY will correction down to 114.xx? we will see
One day at a time for me. Just looking at when it will get to 118.40 right now

But whether it goes to 120, 150, 110, or 95, I'll happily trade it. Or if it keeps putting me to sleep, I'll have to go back to GBPJPY

I just like USDJPY since it's cheaper, and lower spread...
  • #50,805
  • Nov 19, 2014 9:28pm Nov 19, 2014 9:28pm
well it's talking time to break the 118.25-27 range.. its almost 4am in london.. need to get some sleep tmrw is another day!! Benaiah I like your trading style... hopefully i can learn a thing or 2 from you!! Each one, Teach One!!
  • #50,806
  • Nov 19, 2014 9:31pm Nov 19, 2014 9:31pm
Quoting poseikwame
well it's talking time to break the 118.25-27 range.. its almost 4am in london.. need to get some sleep tmrw is another day!! Benaiah I like your trading style... hopefully i can learn a thing or 2 from you!! Each one, Teach One!!
Thanks. I keep learning. Good night!
  • #50,807
  • Nov 19, 2014 9:32pm Nov 19, 2014 9:32pm
Quoting benaiah
{quote} One day at a time for me. Just looking at when it will get to 118.40 right now But whether it goes to 120, 150, 110, or 95, I'll happily trade it. Or if it keeps putting me to sleep, I'll have to go back to GBPJPY I just like USDJPY since it's cheaper, and lower spread...
yes I think in its current state is also not readily apparent weakening in the price of the pair USD / JPY, the value of immediate resistance at 118.54 figure
let's dance with market
  • #50,808
  • Nov 19, 2014 9:35pm Nov 19, 2014 9:35pm
ya i think 120 is likely now and if not 119 pause then re-load
Please check out my blog at https://from-zero-to-hero . net
  • #50,809
  • Nov 19, 2014 9:36pm Nov 19, 2014 9:36pm
Quoting benaiah
Whether it goes to 120, 150, 110, or 95, I'll happily trade it. Or if it keeps putting me to sleep, I'll have to go back to GBPJPY I just like USDJPY since it's cheaper, and lower spread...
Yeah exactly. UJ is more effective than GJ (at least on small accounts) because you can put more margin to work, dollar-for-dollar, and also lower spreads like you said.

However, GJ is closely tied to UJ because of the Yen component. So if UJ is not moving, chances are GJ is not moving either.
Please check out my blog at https://from-zero-to-hero . net
  • #50,810
  • Nov 19, 2014 9:44pm Nov 19, 2014 9:44pm
Pennant on the 5 min...
Attached Image (click to enlarge)
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Good luck and may the odds be ever in your favor!
  • #50,811
  • Nov 19, 2014 9:45pm Nov 19, 2014 9:45pm
Quoting smash1820
{quote} Yeah exactly. UJ is more effective than GJ (at least on small accounts) because you can put more margin to work, dollar-for-dollar, and also lower spreads like you said. However, GJ is closely tied to UJ because of the Yen component. So if UJ is not moving, chances are GJ is not moving either.
Yes Siree, I can put my $40 dollars to good use with USDJPY
  • #50,812
  • Nov 19, 2014 9:48pm Nov 19, 2014 9:48pm
Quoting benaiah
{quote} Thanks. I keep learning. Good night!
well one can never learn too much!!!
  • #50,813
  • Nov 19, 2014 9:48pm Nov 19, 2014 9:48pm
Okay, finally, let's see what happens at 118.4...
  • #50,814
  • Nov 19, 2014 9:49pm Nov 19, 2014 9:49pm
Quoting poseikwame
{quote} well one can never learn too much!!!
  • #50,815
  • Nov 19, 2014 9:49pm Nov 19, 2014 9:49pm
wow session high 118.32 lool....
  • #50,816
  • Nov 19, 2014 9:50pm Nov 19, 2014 9:50pm
Quoting benaiah
Okay, finally, let's see what happens at 118.4...
After 118.4,UJ will climb to 120.xx. let see
  • #50,817
  • Nov 19, 2014 9:51pm Nov 19, 2014 9:51pm
just going to enter another long from 118.25 or less to 120... came out of my other long anyway
  • #50,818
  • Nov 19, 2014 10:06pm Nov 19, 2014 10:06pm
im thinking about setting a ticket to buy at 118/50 tp 120xx sl 116-115xx maybe it will be a good entry point if it breaks the 118.4x range
  • #50,819
  • Nov 19, 2014 10:10pm Nov 19, 2014 10:10pm
Plan of attack at 118.40 level (my opinion)...

If it breaks through, wait for a pull-back to support (above) 118.40. Could find support at 118.40, or somewhere above it. Once that support level is confirmed, add to positions.

If it bounces off 118.40 watch for it to find support at 118.25ish area, I'd assume it will make at least 2 tries to get through 118.40. If it fails the second time, I'll probably TP, and stand aside and wait to see what it does...
  • #50,820
  • Nov 19, 2014 10:11pm Nov 19, 2014 10:11pm
Quoting Halba
pair has no resistance. thats what happens when a central bank actively intervenes in a currency - throw out the textbook. does it really matter what price usd/jpy is. whether its 140, or 150, its all controlled to be up every single day of the week.
Right on. BoJ is driving the market, so charts cannot be all that reliable.

Weak yen may be good for 'Japan', but terrible for people: oil, gas, lumber, coal, steel are all more expensive in yen. Not what people in a stalled economy need.
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