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USD/JPY Discussion

  • #53,881
  • Dec 18, 2014 9:05am Dec 18, 2014 9:05am
Quoting skyhok
{quote} Keeping an eye on other JPY cross pairs, it's getting interesting.
Absorbing poor data very well...bullish sign

Edit: We shall see right? ha
  • #53,882
  • Dec 18, 2014 9:09am Dec 18, 2014 9:09am
Note here guys; we just fulfilled the D extension on the one hour from that recent up move. I would expect a retracement, before we continue up
Good luck and may the odds be ever in your favor!
  • #53,883
  • Dec 18, 2014 9:29am Dec 18, 2014 9:29am
Quoting dbutton1990
Note here guys; we just fulfilled the D extension on the one hour from that recent up move. I would expect a retracement, before we continue up
How much retracement do you reckon?
  • #53,884
  • Dec 18, 2014 9:34am Dec 18, 2014 9:34am
Quoting Ken A
{quote} Sorry I mean hourly support so far is seen at 118.4x ........ Not saying it will hold or break - just watching and waiting what LO will do ..... Asia Equity Indices are green though .... {image}
Yupe, thought it was going to break down, managed to close the short at 118.4sh
  • #53,885
  • Dec 18, 2014 9:35am Dec 18, 2014 9:35am
Quoting Idkurv
{quote} How much retracement do you reckon?
Well ideally I would like to see UJ go back and test the backside of the DTL to confirm down trend has been broken. That is around the 117.50 area. Retracement levels are as follows;

.382=118.14
.50=117.79
.618=117.41
.786=116.96.

The .618 level lines up with the backside of the DTL. So I'm placing my bets on that area.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 111 KB
Good luck and may the odds be ever in your favor!
  • #53,886
  • Dec 18, 2014 9:47am Dec 18, 2014 9:47am
Quoting dbutton1990
{quote} Well ideally I would like to see UJ go back and test the backside of the DTL to confirm down trend has been broken. That is around the 117.50 area. Retracement levels are as follows; .382=118.14 .50=117.79 .618=117.41 .786=116.96. The .618 level lines up with the backside of the DTL. So I'm placing my bets on that area. {image}
Same page with you, expecting to get long at 117.3-117.5 area.
sto H1 and H4 is now overbought too
  • #53,887
  • Dec 18, 2014 9:57am Dec 18, 2014 9:57am
Quoting dbutton1990
{quote} Well ideally I would like to see UJ go back and test the backside of the DTL to confirm down trend has been broken. That is around the 117.50 area. Retracement levels are as follows; .382=118.14 .50=117.79 .618=117.41 .786=116.96. The .618 level lines up with the backside of the DTL. So I'm placing my bets on that area. {image}
Actually I have bearish view that it will reach 115, but not this time of retracement.
will see, could be wrong.
  • #53,888
  • Dec 18, 2014 10:00am Dec 18, 2014 10:00am
Yen buying frenzy going on.
  • #53,889
  • Dec 18, 2014 10:08am Dec 18, 2014 10:08am
Quoting Idkurv
{quote} Actually I have bearish view that it will reach 115, but not this time of retracement. will see, could be wrong.
Still a possibility considering the main Fib that took out the previous upward fib is still in play. Check it out. .86 retracement level hit. Could very easily go to 115.
Attached Image (click to enlarge)
Click to Enlarge Name: UJ.png Size: 136 KB
Good luck and may the odds be ever in your favor!
  • #53,890
  • Dec 18, 2014 10:09am Dec 18, 2014 10:09am
Quoting dbutton1990
{quote} Still a possibility considering the main Fib that took out the previous upward fib is still in play. Check it out. .86 retracement level hit. Could very easily go to 115. {image}
Until we take out 119.92, bearish sentiment is still vaild IMO
Good luck and may the odds be ever in your favor!
  • #53,891
  • Dec 18, 2014 10:12am Dec 18, 2014 10:12am
Quoting skyway
This baby is taking its sweet time to test 119.26.....
Finally it did.....close long n jumped in short for the trip down.....back to fishing.
  • #53,892
  • Dec 18, 2014 10:14am Dec 18, 2014 10:14am
Quoting skyway
{quote} Finally it did.....close long n jumped in short for the trip down.....back to fishing.
I wanna go! haha
Good luck and may the odds be ever in your favor!
  • #53,893
  • Dec 18, 2014 10:20am Dec 18, 2014 10:20am
200 ma is holding for the eur/yen on the 4hr. and bears cant even break and close under the 200 ma on the five min....


1) absorbed bearish data.....
2) cross pairs and correlating majors are sitting on huge support...
3) Japan MP later today...


Bull city baby
  • #53,894
  • Dec 18, 2014 10:20am Dec 18, 2014 10:20am
Stopped at 118.5 as expected. slight pullback to 118.80 before it drops again Edit maybe 118.92
  • #53,895
  • Dec 18, 2014 10:51am Dec 18, 2014 10:51am
Quoting dbutton1990
{quote} Still a possibility considering the main Fib that took out the previous upward fib is still in play. Check it out. .86 retracement level hit. Could very easily go to 115. {image}
  • #53,896
  • Dec 18, 2014 11:05am Dec 18, 2014 11:05am
is santa claus in town? haha notice how the market completely forgets all the worry and risk off after the fed meeting. oil, russia, risk, etc etc was driving us down but feds came in and BANG, back like we never left.... gotta love it .. sticks to my theory that the price was pushed down and held down jus to continue its trekk up north with some fuel from fed...

still long from 117.7 .. targeting 120 1st target
  • #53,897
  • Dec 18, 2014 12:08pm Dec 18, 2014 12:08pm
dropping like a pro. edit: climbing back up like a drunk
  • #53,898
  • Dec 18, 2014 12:27pm Dec 18, 2014 12:27pm
Quoting Liam0530
is santa claus in town? haha notice how the market completely forgets all the worry and risk off after the fed meeting. oil, russia, risk, etc etc was driving us down but feds came in and BANG, back like we never left.... gotta love it .. sticks to my theory that the price was pushed down and held down jus to continue its trekk up north with some fuel from fed... still long from 117.7 .. targeting 120 1st target
You may imagine this as a breather after an intense climbing, now that we have stacked up with goods from camp and once informed that weather is suitable for climbing (FED), we continue our journey
  • #53,899
  • Dec 18, 2014 12:33pm Dec 18, 2014 12:33pm
119.4 happens to be 61.8fib; 121.8 - 115.5
  • #53,900
  • Dec 18, 2014 3:54pm Dec 18, 2014 3:54pm
Japan to compile stimulus of around 3.5tln yen

http://www.forexlive.com/blog/2014/1...nd-3-5tln-yen/
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