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USD/JPY Discussion

  • #52,241
  • Dec 3, 2014 1:16pm Dec 3, 2014 1:16pm
Why even think it is just going to stop at 120? Could easily just go right on past and head for 125 - 130.. As fast as it's risen to 120, who knows how much further it could go.
  • #52,242
  • Dec 3, 2014 1:16pm Dec 3, 2014 1:16pm
Quoting x58
{quote} You was right , trend is up and you are on right track. I was wrong. good I stay out and just looking.

Why you so anxious to sell on an uptrend? I wouldn't sell UJ until trend becomes much more volatile, like it was in October. I wouldn't be looking for that first big drop. I mean how many trader can really find that first big drop without missing so many times before it actually happens that by the time they do hit it big, at best, they are at break even.
  • #52,243
  • Dec 3, 2014 1:18pm Dec 3, 2014 1:18pm
I have closed my positions for the day. This is a area of resistance and i think we could see a sharp pullback before Friday. I have long entries at 119.90 and 120.00
Good luck and may the odds be ever in your favor!
  • #52,244
  • Dec 3, 2014 1:36pm Dec 3, 2014 1:36pm
Quoting benaiah
{quote} Why you so anxious to sell on an uptrend? I wouldn't sell UJ until trend becomes much more volatile, like it was in October. I wouldn't be looking for that first big drop. I mean how many trader can really find that first big drop without missing so many times before it actually happens that by the time they do hit it big, at best, they are at break even.
why would anybody want to short Dollar. Yen is very weak, i don't want to buy yen anytime soon. if i would want to buy Yen Aussie/yen short looks good to me atm with a tight sl.
  • #52,245
  • Dec 3, 2014 1:43pm Dec 3, 2014 1:43pm
Quoting atx_sonu
{quote} why would anybody want to short Dollar. Yen is very weak, i don't want to buy yen anytime soon. if i would want to buy Yen Aussie/yen short looks good to me atm with a tight sl.
I think if 120 is the base of bears, they won't let anyone touch this level.
  • #52,246
  • Dec 3, 2014 1:43pm Dec 3, 2014 1:43pm
For my fellow bulls!

http://www.forex.com/post?SDN=9f1424...7-2ee29261d638
Good luck and may the odds be ever in your favor!
  • #52,247
  • Dec 3, 2014 1:49pm Dec 3, 2014 1:49pm
Look for UJ to find support at one of the following levels.
119.74 (current level)
119.59
119.43
119.24
119.12

I do not see any sign of UJ turning back yet, and target for today is 120.65+
  • #52,248
  • Dec 3, 2014 1:52pm Dec 3, 2014 1:52pm
It will be at 120 soon. Support at 119.775.
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  • #52,249
  • Dec 3, 2014 1:53pm Dec 3, 2014 1:53pm
Quoting benaiah
Look for UJ to find support at one of the following levels. 119.74 (current level) 119.59 119.43 119.24 119.12 I do not see any sign of UJ turning back yet, and target for today is 120.65+
Please leave some target for NFP
  • #52,250
  • Dec 3, 2014 1:57pm Dec 3, 2014 1:57pm
Quoting OberonZhao
{quote} Please leave some target for NFP
last NFP was a dump remember....
  • #52,251
  • Dec 3, 2014 1:59pm Dec 3, 2014 1:59pm
Quoting atx_sonu
{quote} last NFP was a dump remember....
The bear comes, avalanche
  • #52,252
  • Dec 3, 2014 2:07pm Dec 3, 2014 2:07pm
It Was a good continuation through the 119.50/60 New York Cut option expiry today. I had wondered if the bigger valued expiration 900Million/1.4Billion below would have enticed a mechanized short term decline. Yet the unit was too close range to the opposite range expiry quotes.

With the 120.xx Option Barrier proposed still in effect Magnetic attraction is obvious With the cant go wrong buy anywhere and get paid within any 24 hour cycle for some time now.
This has been a rare trading pattern and "cash cow comfortable". I would expect a caught off guard move to be lurking just beyond headlight range to unfold.

I am not trading this thing either way right now as I am too eager to put on large shorts, It's been good and easy, Bird in hand is better than 2 in the Bush!
"Look Left Think Right"
  • #52,253
  • Dec 3, 2014 2:09pm Dec 3, 2014 2:09pm
Quoting OberonZhao
{quote} Please leave some target for NFP
I only trade the price. I don't let the news influence my decisions. If price moves, I don't care why, I just trade it accordingly.

Having said that, my post was only for today, and only according to what I see happening right now. My view could change if price dictates a change of view...
  • #52,254
  • Dec 3, 2014 2:51pm Dec 3, 2014 2:51pm
Quoting CurrencyAnalyst
It Was a good continuation through the 119.50/60 New York Cut option expiry today. I had wondered if the bigger valued expiration 900Million/1.4Billion below would have enticed a mechanized short term decline. Yet the unit was too close range to the opposite range expiry quotes. With the 120.xx Option Barrier proposed still in effect Magnetic attraction is obvious With the cant go wrong buy anywhere and get paid within any 24 hour cycle for some time now. This has been a rare trading pattern and "cash cow comfortable". I would expect a caught off...
I think it's pretty clear someone is buying here, and I don't mean me.

I am like Benaiah, I do what the price tells me to do. But maybe The Fed or BoJ is buying here? Seems reasonable to me.
Attached Image (click to enlarge)
Click to Enlarge Name: someone is buying.jpg Size: 674 KB
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  • #52,255
  • Dec 3, 2014 3:30pm Dec 3, 2014 3:30pm
tomorrow we will be breaking up slightly 120 level and then small correction would be reasonable.
  • #52,256
  • Dec 3, 2014 3:34pm Dec 3, 2014 3:34pm
Quoting benaiah
Look for UJ to find support at one of the following levels. 119.74 (current level) 119.59 119.43 119.24 119.12 I do not see any sign of UJ turning back yet, and target for today is 120.65+
Next 15-30 minutes should see direction confirmed near-term. Either make another run up or fall to next support level down...
  • #52,257
  • Dec 3, 2014 3:55pm Dec 3, 2014 3:55pm
Quoting benaiah
Next 15-30 minutes should see direction confirmed near-term. Either make another run up or fall to next support level down...
I'm pretty sure this pair is being manipulated right now as we speak. It is going higher, but I'm not sure when. It could be a few more hours still. They don't want to see this skyrocket to the moon because that's not in anyone's interests except us traders.

Almost reminds of those Friday triple-witching hour crooks.
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  • #52,258
  • Dec 3, 2014 4:03pm Dec 3, 2014 4:03pm
Quoting benaiah
{quote} Next 15-30 minutes should see direction confirmed near-term. Either make another run up or fall to next support level down...
Hmm... Why do you say next 30min? Can you explain? Do you mean Sydney market opening?

All I see, from the price, the earliest would happen at approximately 4h mark and then possibly between 12-16h mark. I don't see anything happening within next 30min unless we count Aussie market opening.
  • #52,259
  • Dec 3, 2014 4:06pm Dec 3, 2014 4:06pm
Quoting paka
Hmm... Why do you say next 30min? Can you explain? Do you mean Sydney market opening? All I see, from the price, the earliest would happen at approximately 4h mark and then possibly between 12-16h mark. I don't see anything happening within next 30min unless we count Aussie market opening.
Swaps were calculated for the following day just 5 minutes ago. I think that is what Benaiah was referring to. A lot of brokers will shut down during this time because of volatility.

Seems to be headed higher now though...
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  • #52,260
  • Dec 3, 2014 4:09pm Dec 3, 2014 4:09pm
Quoting atx_sonu
{quote} There is no WHY in trading. It took me 2 yrs to learn it and still learning.
There always is, nothing happens for no reason. People should question anything and everything and if you don't you're simply limiting yourself to what you think you know when it just may not be what it actually is.
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