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USD/JPY Discussion

  • #59,661
  • Mar 24, 2016 11:21pm Mar 24, 2016 11:21pm
Quoting Tom81
It looks like BOJ is defending 111 level against USD. GBP/JPY is falling, AUD/JPY is starting to lose ground, EUR/JPY si in consolidation mode... It's a great trade technically, broken H&S pattern, broken flag formation, RSI out of oversold zone, but if the "big guy" is playing against us, we don't stand a chance. They should be at least honest and admit it if they are trying to weaken Yen's exchange rate against USD, so we can pull out of the market and make their intervention cheaper. What do you think, is BOJ behind 111 resistence?
I think so because their export numbers for January,February and March were pretty bad. Retail sales abroad are also down.
  • #59,662
  • Mar 25, 2016 1:49am Mar 25, 2016 1:49am
People stubbornly thinking yen will go to 105, fail to recognize central banks are just part of the market, they are no different than any individual just with much bigger size, their action like BOJ selling Yen is just a action may change supply/demand curve. At the end your ignorance or mis-understanding of supply/demand relationship costs you.
  • #59,663
  • Mar 25, 2016 8:43am Mar 25, 2016 8:43am
Quoting Neqrotik
{quote} I agree with the thesis of this move up. But not yet. Just not yet. Symmetrically it just doesn't make sense pricewise to jump to this conclusion.
It's not really a "conclusion" just an observation. I see a lot of strength in the background off of the low support level on the big timeframes so I wouldn't be surprised if there's more upside ahead. When weakness shows up like the strength at the bottom I'll be looking for short entries. Right now I think the next target is in the 114 area. We'll see where it goes.
  • #59,664
  • Mar 25, 2016 9:01am Mar 25, 2016 9:01am
before 114 check if 113 holds

added shorts
TP: 112.8-112.9
SL: 113.16 (will add shorts until 113.4)
  • #59,665
  • Mar 25, 2016 10:02am Mar 25, 2016 10:02am
question.... Do any of the brokerages you guys use close early for the weekend? Mine closed at 1000UTC (i.e. Can no longer execute trade instructions) which is unusual. They did publish in advance that the "markets" would close at that time. For awhile I thought the entire forex market would cease together at that hour. But I'm well aware that the forex market is still moving until 2000UTC as usual.

Entered a new short at 112.98 earlier and would have wanted to close it manually if it broke back above 113....now it's at 113.12 but i can't do anything. so if the market opens with a gap up on Monday, the gap is gonna begin from up here instead of from where I thought it would below...which would still have been OK and fair. Has anyone encountered what to do with the broker in such a situation?
  • #59,666
  • Mar 25, 2016 11:01am Mar 25, 2016 11:01am
Quoting openyoureyes
before 114 check if 113 holds added shorts TP: 112.8-112.9 SL: 113.16 (will add shorts until 113.4)
close to TP
still holding
  • #59,667
  • Mar 25, 2016 12:41pm Mar 25, 2016 12:41pm
I think next week the pair will continue rising towards 114.00.
  • #59,668
  • Mar 25, 2016 9:27pm Mar 25, 2016 9:27pm
Quoting james1254
I think next week the pair will continue rising towards 114.00.
​I agree, just the correction lower before the pair push further on the upside.
  • #59,669
  • Mar 25, 2016 10:58pm Mar 25, 2016 10:58pm
Makes sense, since it rejected the new closing low.
The Trend Is Your Friend
  • #59,670
  • Mar 26, 2016 6:21pm Mar 26, 2016 6:21pm
Think. Predict. Trade.
  • #59,671
  • Mar 27, 2016 11:15am Mar 27, 2016 11:15am
i think UJ will down to 112.750.
right? give me suggestion
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  • #59,672
  • Mar 27, 2016 11:52am Mar 27, 2016 11:52am
i think UJ will touch 114 first then down but let the market speak
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  • #59,673
  • Mar 27, 2016 4:01pm Mar 27, 2016 4:01pm
I think it will touch 112.850 and begin moving upwards. I suspect it will reach target 113.700. Target 2 would be 114. A stop around 112.750 would be good.
Attached Image (click to enlarge)
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  • #59,674
  • Mar 27, 2016 4:03pm Mar 27, 2016 4:03pm
Currently there is pre-market gap. 100 pips of closing gap to capture.
  • #59,675
  • Mar 27, 2016 4:13pm Mar 27, 2016 4:13pm
Dont worry my dear bulls..the USD has gotcha covered...muahahaha
Attached Image (click to enlarge)
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The coincidental success is more dangerous than the expected failure
  • #59,676
  • Mar 27, 2016 5:13pm Mar 27, 2016 5:13pm
Quoting Neqrotik
Dont worry my dear bulls..the USD has gotcha covered...muahahaha {image}

will fly to 114.xxx?
  • #59,677
  • Mar 28, 2016 1:16am Mar 28, 2016 1:16am
Quoting yanitsa
Long EUR/YEN 125.85
Closed 126.75
If gven a chance , will reload for 127+
  • #59,678
  • Mar 28, 2016 4:01am Mar 28, 2016 4:01am
hmm, i still feel the UJ is too unclear for anything longer than a scalping of a few pips. The uptrend has been quite persistent and could break 114 and head upwards to goodness knows where. On the other hand the threat of a sudden flight to safety, buying of yen given the multiple warnings casts a shadow over it.
For scalping, I will scalp short from the peaks and aim for 5-6pips profit per trade.
  • #59,679
  • Mar 28, 2016 4:08am Mar 28, 2016 4:08am
Quoting ell3
hmm, i still feel the UJ is too unclear for anything longer than a scalping of a few pips. The uptrend has been quite persistent and could break 114 and head upwards to goodness knows where. On the other hand the threat of a sudden flight to safety, buying of yen given the multiple warnings casts a shadow over it. For scalping, I will scalp short from the peaks and aim for 5-6pips profit per trade.
EUR/YEN is much easier at the moment .
I 'm buying it
126.40-55 is my long zone for today
  • #59,680
  • Mar 28, 2016 7:17am Mar 28, 2016 7:17am
could pop to 113.90 area?
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