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USD/JPY Discussion

  • #57,101
  • Jun 2, 2015 9:17am Jun 2, 2015 9:17am
What a rally :-) I think its time to go long on UJ, next target 130, although... look at Daily chart at the engulfing big candle. It can be a deeper correction.
  • #57,102
  • Jun 2, 2015 10:25am Jun 2, 2015 10:25am
See a nice bull wedge forming in GBPJPY 1H... Hope it drags UJ along with it...
"Tips are for waiters." - Reminiscences of a stock operator
  • #57,103
  • Jun 2, 2015 10:29am Jun 2, 2015 10:29am

  1. The pair currently trades at 124.22. The immediate support is located at 123.47 (23.6% Fib R of 118.88‐124.90), followed by 122.60 (38.2% Fib R of 118.88‐124.90).
  2. A bearish RSI divergence is seen, which indicates doors are open for a sell‐off to 123.47‐123.00 levels
  3. An hourly close below 124.44 could see fresh offers leading to a quick drop to 123.47‐123.0 levels.
  4. On the other hand, a break above 124.44 could see the pair re‐test 124.80 levels. However, the bearish view remains intact so long as the pair trades below 125.00 levels.

  • #57,104
  • Jun 2, 2015 10:38am Jun 2, 2015 10:38am
I just try...
The stops for the next two days:
123.9xx --> 124.3xx (or 124.4xx) --> 122.5xx

What do you think?
Is it possible?
  • #57,105
  • Jun 2, 2015 10:43am Jun 2, 2015 10:43am
My stop is 122.90, then UP
  • #57,106
  • Jun 2, 2015 2:15pm Jun 2, 2015 2:15pm
Quoting nobbie
My stop is 122.90, then UP
Gosh, I hope not. It'd be close to blowing my account.

I'd say it'll go to 123.64 as the lowest support. But don't take my word on it, I'm on the edge here, hanging only by my hedged GJ trade...
"Tips are for waiters." - Reminiscences of a stock operator
  • #57,107
  • Edited 8:57pm Jun 2, 2015 8:00pm | Edited 8:57pm
******
4Jun2015, Exercise day for USD-FUNDS;
http://www.boj.or.jp/en/announcement...rel150430d.pdf
******
5Jun2015, Loan Disbursement day.
http://www.boj.or.jp/en/announcement...rel150529c.pdf

mainly :
use for fixing 311's generated problems
use on investment on other countries
******
  • #57,108
  • Jun 2, 2015 8:07pm Jun 2, 2015 8:07pm
June 5th Friday is also - Triple Play of

NFP

OPEC

Greece latest deadline
  • #57,109
  • Jun 2, 2015 8:14pm Jun 2, 2015 8:14pm
Bullish long term is questionable. At least not relevant enough to even post it on this thread. You can read that in your WallStreet Journal.

Short-term this thing is bearish. Down to about 121.80 or so. If it doesnt stop there, 120. If it doesnt stop there, 115. No joke.
The coincidental success is more dangerous than the expected failure
  • #57,110
  • Jun 2, 2015 8:22pm Jun 2, 2015 8:22pm
Quoting Neqrotik
Bullish long term is questionable. At least not relevant enough to even post it on this thread. You can read that in your WallStreet Journal. Short-term this thing is bearish. Down to about 121.80 or so. If it doesnt stop there, 120. If it doesnt stop there, 115. No joke.
Well if you got something to back it up with besides your own distorted view spit it out - like a chart or good funnymental reason. Otherwise you are the joke.

"Opinions are like azz***** we all have one".
  • #57,111
  • Jun 2, 2015 8:33pm Jun 2, 2015 8:33pm
Quoting SunTrader
{quote} Well if you got something to back it up with besides your own distorted view spit it out - like a chart or good funnymental reason. Otherwise you are the joke. "Opinions are like azz***** we all have one".
I don't see how you can think any person's chart is anything past an opinion you just berated. You should also try to relax. If you have anything under water its not mine or anyone else's fault on this thread. You didn't have to "trade" your time to write that nasty note either. Cause it probably wasn't a profitable one.

And furthermore, my charts are MY work. Yes. If all I want to do is give price levels, I am fully within my rights to do that on this thread.
The coincidental success is more dangerous than the expected failure
  • #57,112
  • Jun 3, 2015 1:39am Jun 3, 2015 1:39am
Hello everyone.

Here is a chart on a currently live trade of mine. We have a flag within a bear trend, and a double top (top of the flag). Similar to a setup I traded last night (and I am partly still in) on the EUR/AUD.

I shorted at the yellow line. SL is just above the double top. 1st TP is the lower blue line. Let's see how this unfolds.

PS: those who want a tighter risk could short here with a SL a couple pips above 124.00 (the small hourly spike), but I think that's a bit too tight atm, even for me!
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY 1h ff 03Jun15.gif Size: 33 KB
  • #57,113
  • Jun 3, 2015 3:15am Jun 3, 2015 3:15am
ABC now what
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPY_H1,,111.gif Size: 198 KB
  • #57,114
  • Jun 3, 2015 3:24am Jun 3, 2015 3:24am
Even after yesterday's corrective move forces USDJPY to break short-term ascending trend-channel, a bit broader channel support, near 123.60-55 horizontal mark, could continue restricting the pair's near-term decline.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH4_TradeUpdate_03062015.png Size: 20 KB
  • #57,115
  • Jun 3, 2015 3:58am Jun 3, 2015 3:58am
Looking for a medium term long from 123.60 towards 126.23,
before setting up for the long term short.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1 3Jun15.png Size: 42 KB
Elliott Wave for optimum entry, exit and risk management of trades
  • #57,116
  • Jun 3, 2015 4:04am Jun 3, 2015 4:04am
Look at the NIKKEI, now around 20,500.
It should collapse in a few hours.
Everything is overbought...
  • #57,117
  • Jun 3, 2015 4:34am Jun 3, 2015 4:34am
Quoting SuperMario21
Look at the NIKKEI, now around 20,500. It should collapse in a few hours. Everything is overbought...
Expecting YEN to strengthen against DOLLAR?
  • #57,118
  • Jun 3, 2015 4:52am Jun 3, 2015 4:52am
came back to see trade got stopped out. There was actually a bullish setup 3 hrs ago, the break of the hourly bar at 124.00, but I didnt trade it. Will wait for further setups.
  • #57,119
  • Jun 3, 2015 4:56am Jun 3, 2015 4:56am
Quoting pohchuan
{quote} Expecting YEN to strengthen against DOLLAR?
:nerd:

Quoting SuperMario21
I just try... The stops for the next two days: 123.9xx --> 124.3xx (or 124.4xx) --> 122.5xx What do you think? Is it possible?
  • #57,120
  • Jun 3, 2015 5:10am Jun 3, 2015 5:10am
There is still a fundamental weakness to yen. Observe how UJ tends to creep up in absence of news and spillages from other pairs and that 125 rejection was hardly an aggressive one when you factor out eurozone shenanigans. Imo, 123.6 is the lowest it can go on this leg till 126 and probably beyond, and that only on really bad US news.

My 2 cents anyway...
"Tips are for waiters." - Reminiscences of a stock operator
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