USD/JPY Discussion

wheres ur target area for usdjpy?

ive replied u but did not received any more after that

rather slow system hmmm I sent it ytd

if you are talking about my open uj position, it has open target, lol.
this open position i have is a "sucker" position actually. it's main purpose is to force me to trade with the main trend. therefore i have been taking only long trades on this pair in order to "save" the "sucker". i think i made hell a lot of money percentage wise while making attempts to keep that position alive. i can now anytime close that position with loss because it already paid off very well.
if you are asking in general, the same answer, i do not know, wherever market takes me, my friend.

Market opened, Japanese seem like don't much believe in trend continuation. It might be consolidation for next few weeks, or might take out stops to 117. I would watch stop hunting. I believe lots of Brokers want USDJPY stops to be triggered, man, they need good cash in December, they want holidays.

So I bet the trend is exhausted at least for now until 2015.

oh nice. damn seems like its at the R area now. unless it breaks 120 area. looks unlikely now

looks like most ppl are taking some profit now

i heard the secret of making profit is selling and buying at extremes

No, not because of profit taking ........

Here, have some read ..........


Asia Stocks Drop, Led by Japan, After Yen Gain; Oil Falls

Dec. 9 (Bloomberg) -- Asian stocks fell, with the regional index heading for for its biggest two-day drop in a month, as Japanese shares dropped after the yen strengthened amid concern over global growth and Greece’s political outlook. Chinese stocks fluctuated as inflation data missed estimates.

The MSCI Asia Pacific Index slid 1.2 percent by 10:50 a.m. in Tokyo, set for its lowest close since Oct. 24 as Japan’s Topix gauge slid 1.5 percent. The Hang Seng China Enterprises Index was little changed after tumbling 4.6 percent yesterday. Standard & Poor’s 500 Index futures were little changed. The yen fluctuated after soaring as much as 2.2 percent last session, its steepest intraday gain since June 2013. Oil fell for the fourth time in five days.

Chinese producer prices fell 2.7 percent in November from a year before, a 33rd straight decrease, while consumer inflation slowed to 1.4 percent, the slowest since 2009, reports today showed. A move to tighten short-term lending rules in China sparked a rout in global equities yesterday, fanning concern over the outlook for Asia’s largest economy. The prospect of an election in Greece fueled speculation that opponents of the European Union’s bailout terms may gain more power.

“Caution is probably at the top of the agenda,” Tim Schroeders, a portfolio manager who helps oversee $1 billion in equities at Pengana Capital Ltd. in Melbourne, said by phone. “As some investors change asset allocations, we will see some extreme moves over the next couple of weeks.”

Japan Election

The Topix index fell for a second day, sliding toward its lowest close since Nov. 28. Japanese voters head to the ballot box Dec. 14, after Prime Minister Shinzo Abe called a snap election to seek validation for his program of economic reform. Data this week showed Japan’s recession is deeper than first thought. The Kospi index in Seoul dropped 0.7 percent.

The Shanghai Composite Index swung between gains and losses after plunging 5.4 percent yesterday from a 3 1/2-year high. The Hang Seng China Enterprises Index, which tracks mainland Chinese stocks listed in Hong Kong, plunged 4.6 percent. Hong Kong’s Hang Seng Index was little changed today.

China’s clearing agency for exchanges said Dec. 8 that it won’t allow bonds rated below AAA or sold by issuers graded lower than AA to be used as collateral for short-term loans obtained through repurchase agreements. The new rules sparked a retreat in lower-rated bonds of local government financing vehicles and contributed to the tumble in Shanghai shares as noteholders reassessed the appeal of owning such debt.

West Texas Intermediate crude fell 1.3 percent to $62.99 a barrel today, erasing yesterday’s 1.2 percent gain. Brent crude slid 1.2 percent to $66.03.

U.S. Markets

Smaller energy companies and technology shares drove gains among U.S. equities yesterday as oil rallied.

The Russell 2000 Index of smaller companies rose 1.8 percent as energy stocks jumped 6.1 percent, leading gains among nine industry groups and paring back yesterday’s 7.3 percent tumble. The Nasdaq 100 Index added 0.4 percent, while the Dow Jones Industrial Average slipped 0.3 percent. The S&P 500 was down less than 0.1 percent to close at 2,059.82.

Gold, regarded along with the yen and Treasuries as a haven asset, fell 0.3 percent on the spot market today, to $1,227.70 an ounce. The precious metal surged as much as 2.9 percent last session to $1,238.32, its highest price since Oct. 22.


H1

closed my long.

thanks mate.

does holy grail really works?

lmao...

Glad I closed 80% of the fresh long - it drop 50 pips since

not bad +50 pips in less than 1 hr

im short now. but doesnt look like its engulfing. but well tight stops targeting 118.72 area. whats u think

Atm I'm long
with a TP at 121.448

That is the secret alright, logic tells us that. The problem with this secret is not not knowing this.

The real problem with this secret is twofold : 1. to determine the exact extreme point, and 2. to have the strong psychological mindset to make trades at the hard right edge of the chart - which depends a lot on no.1.

If you can do both, then walla you have the holy grail !!!

Hi Dano,
Can you please give us some explanation about your analysis when you attach a chart?
Obviously you attached it for a reason and beginners, like myself, would benefit from experts' opinion such as yours.
Much appreciate it in advance, cheers

I won't try to catch every small swings .....

You can wait until Tokyo Mid Session or Tokyo Close then wait London open - Europe Open and Mid Session - Pre NY open - London Close - NY close - Wellington Open ... and so on ....

Watch the markets and follow the money .......

Trading JPY need hard work by following and reading market conditions - it won't be easy

Personal bias/opinion will not move the market .....

i guess no.1 can be fixed by applying martingale with strict money management