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USD/JPY Discussion

  • #56,181
  • Feb 26, 2015 10:47am Feb 26, 2015 10:47am
another attempt towards 120. every failure builds my opinion that this zone 119.30/50 is a distribution area. anyway the game "conquering 120" is still active.
"The secret of politics? Make a good treaty with Russia." Otto von Bismarck
  • #56,182
  • Feb 26, 2015 11:01am Feb 26, 2015 11:01am
Reports were not all that remarkable, the DOW is down 7, and the USDJPY ratchets up 60 pips. Can't brag about the economic indicators today but whatever's in the water, 120+ is the target. My STO (STOCASTIC 70,10,10) on the 60 min chart has been hovering below 30 for 24 hours now. Is my bias showing?
  • #56,183
  • Feb 26, 2015 5:20pm Feb 26, 2015 5:20pm
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 49 KB
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 46 KB

Looking for 118,70
  • #56,184
  • Feb 26, 2015 5:23pm Feb 26, 2015 5:23pm
Quoting Petr.K
{image}{image} Looking for 118,70
What do you guys think about those charts :-) criticism welcome
  • #56,185
  • Feb 26, 2015 9:46pm Feb 26, 2015 9:46pm
Quoting Petr.K
{quote} What do you guys think about those charts :-) criticism welcome
Maybe one more push up to that top trend line you have drawn around 119.60?
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #56,186
  • Feb 26, 2015 10:10pm Feb 26, 2015 10:10pm
im expecting a sharp drop in 5.5 hours to about 118.30-60 ish area.. reload then one more attempt to 120 before the weekends
  • #56,187
  • Feb 26, 2015 10:21pm Feb 26, 2015 10:21pm
Quoting RGomez
im expecting a sharp drop in 5.5 hours to about 118.30-60 ish area.. reload then one more attempt to 120 before the weekends
I think I am misunderstanding you. Price will fall to the 118.30-60 region in about 5.5 hours, and then explode higher to the 120 region before the weekend even arrives?
  • #56,188
  • Feb 26, 2015 10:26pm Feb 26, 2015 10:26pm
Well more like 19.40-50 region... its been hitting that mark by the late mornings these last 2 days in a row
  • #56,189
  • Feb 27, 2015 6:48am Feb 27, 2015 6:48am
Seems that the pair is testing important support, near 119.20, breaking which 118.60 can't be denied. US GDP number is awaited.
Attached Image (click to enlarge)
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  • #56,190
  • Feb 27, 2015 7:55am Feb 27, 2015 7:55am
buy buy buy.. weak data all night yesterday from Japan, positive #s from USD..

In a nice sweet spot technical too
  • #56,191
  • Feb 27, 2015 7:59am Feb 27, 2015 7:59am
never say never waiting for long on 118.70 target is +100 pips
  • #56,192
  • Feb 27, 2015 8:06am Feb 27, 2015 8:06am
Feel like it can't break the resistance even with the positive US data(where is the demand?), we will see at the end of the trading day. [attach]1620744

[/attach]
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4.png Size: 48 KB
  • #56,193
  • Feb 27, 2015 8:18am Feb 27, 2015 8:18am
I'm leaving the usd/jpy. Its volatility & range are too low in general; it's just too uprofitable with respect to other pairs like gbp/usd, eur/usd, and of course, its yen sister counterpart, the gbp/jpy.

You're better off hedging bets with the gbp/jpy if you're looking to maximize your profits. If you win 60%+ of your trades and havea solid understanding of support/resistances, then odds are you'll get more pips & profit with the gbp/jpy.

Honestly, this pair has been nothing but disappointment as of late-and it's not even because of losses. No, it's because my trades in the gbp/jpy are yielding far more.

Just look at the gbp/jpy within the past hour: After I shorted it on the 184.40 top with a lot in short, I've already pocketed 40 pips. The usd/jpy, on the other hand, had only 10 pips.....disappointing.
  • #56,194
  • Feb 27, 2015 8:36am Feb 27, 2015 8:36am
Good day.
why this pair is moving this way?
I have been waiting for the 121 target since the 23rd of January. :'(
  • #56,195
  • Feb 27, 2015 8:37am Feb 27, 2015 8:37am
Vermillion,

You're in the big leagues trading GBP with greater volatility and higher margin requirements. Gotta be a pro there. I'm not ready for that prime time arena yet. Gotta stick with USDJPY for now. Meantime, good luck to you and we'll miss you hanging around USDJPY. Your input is appreciated.
  • #56,196
  • Feb 27, 2015 8:38am Feb 27, 2015 8:38am
Quoting Vermillion
I'm leaving the usd/jpy. Its volatility & range are too low in general; it's just too uprofitable with respect to other pairs like gbp/usd, eur/usd, and of course, its yen sister counterpart, the gbp/jpy. You're better off hedging bets with the gbp/jpy if you're looking to maximize your profits. If you win 60%+ of your trades and havea solid understanding of support/resistances, then odds are you'll get more pips & profit with the gbp/jpy. Honestly, this pair has been nothing but disappointment as of late-and it's not even because of losses....
Hello.I agree.once the pair is 120 I will close my position and leave this pair too.
  • #56,197
  • Feb 27, 2015 8:38am Feb 27, 2015 8:38am
Let's see if the USDJPY can hold and build upon this 119.40 plateau. Currently 119.45 and counting.
  • #56,198
  • Edited 9:04am Feb 27, 2015 8:49am | Edited 9:04am
Quoting idaho19
Let's see if the USDJPY can hold and build upon this 119.40 plateau. Currently 119.45 and counting.
My last bit of advice to usd/jpy traders: Odds are, it WON'T make 120 today or this week before a correction, and going beyond 119.40 & staying thiere for now is unlikely. the yen pairs are primed for a correction based on recent chart trends, and while gbp/jpy and usd/jpy may differ during country specific events and general volatility difference, they usually MOVE HAND IN HAND more often than not.

The gbp/jpy...so beautiful. Nearly $500 in profit so far. Not bad for 1 hour & 15min. work.

The usd/jpy......blegh. We need 119.20 to break, and then 118.70/60 will be open.

Breaking below 118.410 and heading down to somewhere in the lower 117 will be difficult. That rise up was caused by the NFP data, which is pretty much one of the big movers and shakers for the USD.

Yeah, definitely leaving. Not worth my time.

Oh, if it does stay about 119.40, I'd recommend those longing to lock in pips.
  • #56,199
  • Feb 27, 2015 9:04am Feb 27, 2015 9:04am
USDJPY - Quick 20 pip drop after today's second non-stellar USD report and she's back up at 119.42. My bias is showing but JPY has nothing to brag about. Perhaps the month enders (traders adjusting for end of month) are now out and the fiscal fundamentals are what's left. I see upside.
  • #56,200
  • Feb 27, 2015 9:06am Feb 27, 2015 9:06am
i don't think JPY will reach 120 without any explosive news from Japan. how about US ??
any news about interest rate will help a lot ORZ
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