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USD/JPY Discussion

  • #54,761
  • Jan 20, 2015 9:48pm Jan 20, 2015 9:48pm
Quoting Ata-Turkoglu
Not much has changed since I shared my descending wedge view.. nowadays it looks like price range will narrow more and more.. but we are still inside the wedge and therefore it is still not clear where price will go.. I am trading smaller timeframes for now and with tight stop losses and small targets (30 to 50 pips) Happy Trades {image}
We are truly in a range as explained earlier.. the Daily ichimoku cloud was narrowing so we started to keep our eyes on the range boundaries..

118.80 to 117.50 seems to be fair enough..

Happy Trades
Focus only on what truly matters!
  • #54,762
  • Jan 20, 2015 9:53pm Jan 20, 2015 9:53pm
Think this is pulling us down, otherwise I see it as bull news.
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"I know one thing, that I know nothing." Sokrates
  • #54,763
  • Jan 20, 2015 9:54pm Jan 20, 2015 9:54pm
Quoting Trendzalore
{quote} Oh no need for signal. I already bought because its already a full deviation away for daily move. Was merely asking.
Sorry man, I was just pissed of my SL got hit.
"I know one thing, that I know nothing." Sokrates
  • #54,764
  • Jan 20, 2015 9:57pm Jan 20, 2015 9:57pm
Quoting Tom_D_Trader
{quote} Sorry man, I was just pissed of my SL got hit.
No worries. Mine may soon get hit as well if it doesn't get back above 118. Stop is 117.5 but looking like there is room to fall to that.
  • #54,765
  • Jan 20, 2015 10:01pm Jan 20, 2015 10:01pm
Looks like this could turn out to be a sharp decline... hope we see 115 or sub 115 levels, I want some good long opportunities
  • #54,766
  • Jan 20, 2015 10:01pm Jan 20, 2015 10:01pm
Quoting Ck87
Looks like this could turn out to be a sharp decline... hope we see 115 or sub 115 levels, I want some good long opportunities
Yes it does. Cut my losses and got out.
  • #54,767
  • Jan 20, 2015 10:07pm Jan 20, 2015 10:07pm
K. I shoot. Dont catch teh knife they say, stops at 117,12.
"I know one thing, that I know nothing." Sokrates
  • #54,768
  • Jan 20, 2015 10:11pm Jan 20, 2015 10:11pm
Quoting Idkurv
Sell tp 117.8
ok..now will see where is next...bounce first or 117.5...
  • #54,769
  • Jan 20, 2015 10:12pm Jan 20, 2015 10:12pm
My interpretation of the report is that is it bullish UJ. BoJ is happy to keep pumping money into the system and talks about inflationary pressures having reduced (hence suggesting that it is safe to increase the monetary base). Also touches on export-based economic growth -> even more incentive to keep Yen low... How the markets have reacted seems to suggest that no one else has interpreted the report that way though! Note that I am still currently long UJ so my mind might be distorted!!
  • #54,770
  • Jan 20, 2015 10:14pm Jan 20, 2015 10:14pm
key support level here around 117.7ish, price is leaning on 50ma on 4hr, must maintain this and move above 118 to keep us bulls in the game.. :nerd:
  • #54,771
  • Jan 20, 2015 10:21pm Jan 20, 2015 10:21pm
woopsy daisys....:nerd:still standing by....was hoping for lower lows to get long so lets hope that pans out.
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  • #54,772
  • Jan 20, 2015 10:25pm Jan 20, 2015 10:25pm
will it toutch 115???????? bt there are no any special hakwsh
  • #54,773
  • Jan 20, 2015 10:27pm Jan 20, 2015 10:27pm
Quoting kanchmadush
will it toutch 115???????? bt there are no any special hakwsh
Possible... unlikely I guess.. Certain we are going to 140-150 , question is have we bottomed yet on this next leg up.
  • #54,774
  • Jan 20, 2015 10:32pm Jan 20, 2015 10:32pm
Quoting Ck87
{quote} Possible... unlikely I guess.. Certain we are going to 140-150 , question is have we bottomed yet on this next leg up.
yh,,, bt if it touch 115 then we have a godd chance to buy usd
  • #54,775
  • Jan 20, 2015 10:48pm Jan 20, 2015 10:48pm
Quoting kanchmadush
{quote} yh,,, bt if it touch 115 then we have a godd chance to buy usd
Agree, would be nice
  • #54,776
  • Jan 21, 2015 12:22am Jan 21, 2015 12:22am
Quoting Idkurv
{quote} ok..now will see where is next...bounce first or 117.5...
try small lot short tp 117
  • #54,777
  • Jan 21, 2015 12:30am Jan 21, 2015 12:30am
anyone have any idea about buy trade........... i thinks 115 is hard to catch and market try to catch 118 again
  • #54,778
  • Jan 21, 2015 12:38am Jan 21, 2015 12:38am
Quoting kanchmadush
anyone have any idea about buy trade........... i thinks 115 is hard to catch and market try to catch 118 again
You could make the case to buy now throw a SL below 117.50 at least if you do. (At least that's what I'd do) Pay attention to eur/usd as well at big support if euro starts gaining usdjpy will fall.
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  • #54,779
  • Jan 21, 2015 2:18am Jan 21, 2015 2:18am
Quoting Tom_D_Trader
K. I shoot. Dont catch teh knife they say, stops at 117,12.
Hey Tom. I'll be looking to load longs.

Quoting ClinicalEx
{quote} Hey Tom. Our imaginary trendline from Friday holding price for the moment. It made a little cross with intraday support- that hourly swing high close at 116.94. 116.44 and now, 116.14 are the major support levels on my chart to test once/if it goes. A break below those and there's lots of space for more meaning eyes on the Nikkei for a bottom off 16270 that will stop the bleeding and perhaps setup a potential swing trade. To the topside,117.76 needs to be taken for a potential move up to 119.64. No positions yet for me. I'm completely...
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  • #54,780
  • Jan 21, 2015 2:29am Jan 21, 2015 2:29am
Quoting Idkurv
{quote} try small lot short tp 117
if can stay above 117.5 for the next 2-hour, might enter long for short-term trade only.
but personally prefer it goes down straight...
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