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USD/JPY Discussion

  • #55,441
  • Feb 3, 2015 9:02pm Feb 3, 2015 9:02pm
Quoting Ken A
{quote} What's the reason for that? {image}
It's just an observation. Usually there is some correlation with USD/JPY against NIKKEI and S&P500. I don't like to over analyse, but here it is.

Bad USD data initiated cash flows into stocks. As US stocks soared with USD dropping against most of it's counterparts BUT maintained strength against JPY. That can be explained with NIKKEI going up putting similar pressure on JPY.

Now as for why I remain extremely cautious is because EUR, GBP/USD are both coiling around resistance, USD, EUR, GBP/JPY are also reaching resistance targets.

All the above movements highly contradicts each other, no clear signals at all.
Hence I remain cautious fundamentally and prefer trading technical scalps for now instead of swing trades with trend.

Edit: Just like to add I am a long term EUR bear. So I'm somewhat a USD bull.
Luck shines on the positive.
  • #55,442
  • Feb 3, 2015 9:17pm Feb 3, 2015 9:17pm
Quoting Ken A
{quote} Yes, that's usually the case - but since it's US bad data the JPY weakness against USD is probably limited but not so against other ccy's such as AUDJPY, EURJPY, GBPJPY etc Also USD being dumped (+ UST yields up) for Crude and energy stocks is probably the drive for N225 Stops build up above 118.00
Yup. Hence I'm taking my wins along with my popcorn and sit on the sidelines for now. Personally hoping for USD/JPY to drop (not motivated fundamentally) to support levels so I can go long from there.
Luck shines on the positive.
  • #55,443
  • Feb 3, 2015 9:58pm Feb 3, 2015 9:58pm
Quoting sam69
try to buy 117.05...
closed 117.80, but it may visit 118.50 zone...
Attached Image (click to enlarge)
Click to Enlarge Name: uj.png Size: 20 KB
Money is made by sitting, not trading. Jesse L. Livermore
  • #55,444
  • Feb 3, 2015 10:44pm Feb 3, 2015 10:44pm
Quoting sam69
{quote} closed 117.80, but it may visit 118.50 zone... {image}
If it is really break of inverse head and shoulder, it will target 118.5 imho
  • #55,445
  • Feb 4, 2015 12:03am Feb 4, 2015 12:03am
With AUDUSD on the rally, USDJPY is poised to decline on a 3rd wave (wave iii) while AUDJPY on the move up.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 72 KB


AUDJPY:
http://www.forexfactory.com/showthre...62#post8044662
Elliott Wave for optimum entry, exit and risk management of trades
  • #55,446
  • Feb 4, 2015 12:34am Feb 4, 2015 12:34am
Gidday Yen Masters

Got a paddy field of longs

to come out.

Need some pips to play with

118+ would do it

loser Grasshoppers starting to piss me off
  • #55,447
  • Feb 4, 2015 12:40am Feb 4, 2015 12:40am
Quoting Idkurv
{quote} U r correct.great call. inverse head n shoulder h1?
Yeah, looks like it, kind of, but be carefull, we are back below 117.70, so am not 100% convinced - I think it will slide back to .50
  • #55,448
  • Feb 4, 2015 12:47am Feb 4, 2015 12:47am
Quoting panthercz
{quote} Yeah, looks like it, kind of, but be carefull, we are back below 117.70, so am not 100% convinced - I think it will slide back to .50
Yes, sto h1 and h4 seems favour downside at the moment..
  • #55,449
  • Feb 4, 2015 3:02am Feb 4, 2015 3:02am
short targeting 116.14
  • #55,450
  • Feb 4, 2015 3:22am Feb 4, 2015 3:22am
Set buy order at 117.3 for scalp only.
h4 still favor downside
  • #55,451
  • Feb 4, 2015 5:15am Feb 4, 2015 5:15am
Long at 117.38 going for 117.7. Tight SL.
Luck shines on the positive.
  • #55,452
  • Feb 4, 2015 5:40am Feb 4, 2015 5:40am
Quoting YvetteTeo
Long at 117.38 going for 117.7. Tight SL.
If it reaches 117.7 then back down to 117.3 it will be head and shoulder..
  • #55,453
  • Feb 4, 2015 5:43am Feb 4, 2015 5:43am
Quoting Idkurv
{quote} If it reaches 117.7 then back down to 117.3 it will be head and shoulder..
I'll close my scalp before the news. We'll see after that.
Luck shines on the positive.
  • #55,454
  • Feb 4, 2015 6:17am Feb 4, 2015 6:17am
https://charts.mql5.com/6/912/usdjpy...arkets-ltd.png

USD/JPY possible short
  • #55,455
  • Feb 4, 2015 6:18am Feb 4, 2015 6:18am
USDJPY is likely to continue trading in the negative region with 115.90 being imp support and 118.20 being imp resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 26 KB
  • #55,456
  • Feb 4, 2015 6:20am Feb 4, 2015 6:20am
Quoting Fx_Anil
USDJPY is likely to continue trading in the negative region with 115.90 being imp support and 118.20 being imp resistance. {image}
Looking at Ichimoku Daily Chart.... UJ can test 113.50 provided it breaks below 116
  • #55,457
  • Feb 4, 2015 6:22am Feb 4, 2015 6:22am
Quoting skyhok
With AUDUSD on the rally, USDJPY is poised to decline on a 3rd wave (wave iii) while AUDJPY on the move up. {image} AUDJPY: http://www.forexfactory.com/showthre...62#post8044662
Will love this if UJ can follow this pattern
  • #55,458
  • Feb 4, 2015 6:43am Feb 4, 2015 6:43am
Quoting munirnadir
{quote} Looking at Ichimoku Daily Chart.... UJ can test 113.50 provided it breaks below 116
But I think US fundamentals can restrict the further decline of UJ. I also support more bear moves of the pair.
  • #55,459
  • Feb 4, 2015 7:10am Feb 4, 2015 7:10am
The bull started 11 am here in norway and is still strong. Couple of more hours before the bears take over,
Energy, frequency and vibration.
  • #55,460
  • Feb 4, 2015 8:26am Feb 4, 2015 8:26am
Current chart for UJ... Should be a good short trade (imo)

https://charts.mql5.com/6/914/usdjpy...arkets-ltd.png
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