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USD/JPY Discussion

  • #58,921
  • Jan 6, 2016 3:46am Jan 6, 2016 3:46am
Quoting SunTrader
Sitting on Daily and longer term Weekly support: {image} {image}
I was just looking at this and trying to decide whether it will bounce from here, or whether to wait for a possible spike below 117.

North Korea has just pushed the market into risk-off IMHO.
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  • #58,922
  • Jan 6, 2016 3:47am Jan 6, 2016 3:47am
Quoting Hollyforex
Hello Its lonely in here, the eur/usd thread has 40 plus people at all times ...right now I'm all alone. So anybody has any ideas on whats going on with the jpy. It was stuck at the 119 level +/- 20 pips most of the day. so boooring helllloooo echo,,,,, echo
That's because the people here are traders, on the EU thread they are just shooting the breeze...
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  • #58,923
  • Jan 6, 2016 5:31am Jan 6, 2016 5:31am
Against the trend, no stop only luck)
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  • #58,924
  • Jan 6, 2016 12:46pm Jan 6, 2016 12:46pm
Quoting mihrutkanik
Against the trend, no stop only luck)

Nice long at 118.30, but i cant condone trading without a stop. You know that's unlimited risk right?

That was some sweet confluence of support around that 118.30 level. Middle of the downward channel and 26/03 low coming together.

If you got long there congrats, and I would consider holding that long into 120.
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  • #58,925
  • Jan 6, 2016 1:08pm Jan 6, 2016 1:08pm
Quoting ContxtTrader
{quote} Nice long at 118.30, but i cant condone trading without a stop. You know that's unlimited risk right? That was some sweet confluence of support around that 118.30 level. Middle of the downward channel and 26/03 low coming together. If you got long there congrats, and I would consider holding that long into 120. {image}
Based on your chart I wouldn't buy this but it's your money good luck
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #58,926
  • Jan 6, 2016 1:11pm Jan 6, 2016 1:11pm
Quoting ContxtTrader
{quote} Nice long at 118.30, but i cant condone trading without a stop. You know that's unlimited risk right? That was some sweet confluence of support around that 118.30 level. Middle of the downward channel and 26/03 low coming together. If you got long there congrats, and I would consider holding that long into 120. {image}
Contxt, I wouldnt advice to place a trade 20 minutes before the FOMC Meeting Minutes release especially when dollar is on the bear back since December FOMC Meeting Minutes. Too much risk at stake. Good luck tho.
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  • #58,927
  • Jan 6, 2016 1:41pm Jan 6, 2016 1:41pm
Quoting mihrutkanik
Against the trend, no stop only luck) {image}
unless you have really small account or don't care about money.
re-entry @ low 118 thought about it... but at moment I trade futures contracts so min is a lot size.
NO stop loss ? I often go that way but in a situation like this ?
I agree with openyoureyes "when risk off = UJ skyrocket"
but the yen at the moment is, as they say, "the secure" currency and in the current situation outcome is dubious .
look at what happened yesterday with china.... all you need is a fart from there and the yen moves... in wasn't that bad ,,, could have been worse.
to cut a long story short .. you're goona have to follow this puppy through the Asian, European and American sessions as it can move anytime and with my limited knowledge past the 18 mark I don't see much in the way of significant support till the 14 - 15 point.
Anyways best of luck to you and many green pips
don't get in love with pairs ... up or down is the same pip value
  • #58,928
  • Jan 6, 2016 1:53pm Jan 6, 2016 1:53pm
Quoting Shiv999
{quote} Grab a beer and chill... Shit happens...
YUP,
Thanks
don't get in love with pairs ... up or down is the same pip value
  • #58,929
  • Jan 6, 2016 1:59pm Jan 6, 2016 1:59pm
Quoting blue_z_zz
{quote} Based on your chart I wouldn't buy this but it's your money good luck
I like this support level. If it breaks its gone. I play it tight because if I'm wrong I need to admit it and get out.@fxsaywhat Don't worry mate, I'm not placing trades before fomc.
  • #58,930
  • Jan 6, 2016 2:07pm Jan 6, 2016 2:07pm
Quoting ContxtTrader
{quote} I like this support level. If it breaks its gone. I play it tight because if I'm wrong I need to admit it and get out.@fxsaywhat Don't worry mate, I'm not placing trades before fomc.
IMO it's a high risk trade not worth taking with the global situation righ now as hollyforex explained there is a high probability of this breaking that support you suggested but good luck anyways
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #58,931
  • Jan 6, 2016 6:54pm Jan 6, 2016 6:54pm
Im waiting for this pair to touch 120.00 to withdraw money
  • #58,932
  • Jan 6, 2016 9:55pm Jan 6, 2016 9:55pm
Quoting ContxtTrader
{quote} Nice long at 118.30, but i cant condone trading without a stop. You know that's unlimited risk right? That was some sweet confluence of support around that 118.30 level. Middle of the downward channel and 26/03 low coming together. If you got long there congrats, and I would consider holding that long into 120.
HI! Honestly im not gonna do it just for 120, my long term aim is 135.
  • #58,933
  • Jan 6, 2016 10:20pm Jan 6, 2016 10:20pm
Quoting mihrutkanik
{quote} HI! Honestly im not gonna do it just for 120, my long term aim is 135.
I pray for u to get until there
  • #58,934
  • Jan 7, 2016 2:50am Jan 7, 2016 2:50am
breaking the 117 level could and probably send this pair to the 110 level
Bulls Make Money, Bears Make Money, Pigs Get Slaughtered
  • #58,935
  • Jan 7, 2016 3:55am Jan 7, 2016 3:55am
At least I had a tight stop.
  • #58,936
  • Jan 7, 2016 4:14am Jan 7, 2016 4:14am
Quoting stylinex
Either we are headed towards Morgan Stanley's call of 115 or will be bouncing back soon and heading towards Goldman's call of 135+
Looks like Morgan Stanley is going to be right on this one and GS be wrong.
  • #58,937
  • Jan 7, 2016 4:25am Jan 7, 2016 4:25am
A bad job data later will definitely dive the pair deeper
  • #58,938
  • Jan 8, 2016 8:34am Jan 8, 2016 8:34am
Maybe the tide has turned.
  • #58,939
  • Jan 8, 2016 9:03am Jan 8, 2016 9:03am
Quoting zony
Maybe the tide has turned.
If the KIJUN-SEN [Blue line] stays flat on 50.0 Fibonacci it might be
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  • #58,940
  • Jan 8, 2016 10:22am Jan 8, 2016 10:22am
I think it will reach 116.00 - 115.90 and I am keeping my short position open for now.
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