Thread: Discuss USD/JPY, GBP/JPY, and other JPY Pairs

john i know I'm new but i notice with the usd/jpy i had to set my stoploss and limit orders a lil farther I'm not sure if any one has noticed the same. yesterday if you remember i signaled a buy order at 106.69 well you were right my position moved away from me in the middle of the day even all trough out the night but sure enough this morning the profits paid very well i knew it was going to move back up and sure thing it did. i think with this pair we have to take a lil bit more of a risk I'm not saying risk your whole account but just enough to weather the storm i always follow my system rules but theirs times when my gut is right and sure thing just like in all my trades once again it was right. some times the risks are a lot more rewarding especially in a confusing pair.

I meant to put this image up the other day but mis-linked it.

This one turned around on me midway because I got in too late!

I like the mark up on the channel . You made it a little to narrow. With current trading range you should be fine if you following the uptrend. Watch out at 107. 90-108.00 level.

stll long from
108.23
108.00
107.90
106.00................Closed @ 106.40....Prfts booked
105.08................Closed @ 106.40....Prfts booked

GBP/USD short from
9947..............Closed @ 9880.....Prfts booked
9880..............Closed @ 9810....Prfts booked
9795..............Closed @ 9690....Prfts booked

Short from 107.20 - with a 300+ drop in the Nikkei I thought what the heck...targeting 106.20-25.

One more bounce from 106.71 and I cover.

still long from
106.47
108.23
108.00
107.90
106.00................Closed @ 106.40....Prfts booked
105.08................Closed @ 106.40....Prfts booked

GBP/USD short from
9947..............Closed @ 9880.....Prfts booked
9880..............Closed @ 9810....Prfts booked
9795..............Closed @ 9690....Prfts booked
9790..............active

Originally Posted by melbgirl

Short from 107.20 - with a 300+ drop in the Nikkei I thought what the heck...targeting 106.20-25.

..did you buy long at 106.40?

I think you might get the short in profit to safely 106.80. I dunno about the bigger move.

update: presently looking comfortable over 107.40, momentum neutral on 30min. I recall that the earlier 106.26 pullback on Tuesday was precisely to 61.8% level, and that 23.6% is way down at 107.20 where you mistakenly went short. The signs are not good for recovering your loss, at present. The pair has retraced nearly 88% of the previous downwave. Later, I think 108 could be taken out.

Good call terton. I'm watching very carefully in the last 2 hours. How latter you see 108.00. Thats what you said if Im not wrong. I cant see that happening at least for the next 24 hours.

still long from
106.47...............Closed @ 107.21....Prfts booked
108.23
108.00
107.90
106.00................Closed @ 106.40....Prfts booked
105.08................Closed @ 106.40....Prfts booked

GBP/USD short from
9947..............Closed @ 9880.....Prfts booked
9880..............Closed @ 9810....Prfts booked
9795..............Closed @ 9690....Prfts booked
9790..............Closed @ 9744....Prfts booked

GBP/USD long @ 9700 open tgt

still long from
106.80
106.47...............Closed @ 107.21....Prfts booked
108.23
108.00
107.90
106.00................Closed @ 106.40....Prfts booked
105.08................Closed @ 106.40....Prfts booked

GBP/USD short from
9947..............Closed @ 9880.....Prfts booked
9880..............Closed @ 9810....Prfts booked
9795..............Closed @ 9690....Prfts booked
9790..............Closed @ 9744....Prfts booked

GBP/USD long @ 9700.......Closed @ 9811...Prfts booked

I can see the USD/YPY daily uptrend. How long are we talking about for the 110.00 levels. I can support that idea only if i see first the resistance broken at 107.5-107.6

Originally Posted by alfa10

I can see the USD/YPY daily uptrend. How long are we talking about for the 110.00 levels. I can support that idea only if i see first the resistance broken at 107.5-107.6

My previous comments were overconfident, I believe. The pair still clings to the July cycle retracements like sh**t to a blanket. I now favour a visit to the 61.8% at 10605 to end this large right shoulder.

Short term, the rise of the hammer before the fall.

The USDJPY is getting significant resistance at the 20 Day SMA, with credit concerns rampant on the possible insolvency of Fannie and Freddie we may see the pair head lower to test the 50 Day SMA at 105.74

It seems as though there are two support lines now; the first turning into a resistance line. If the pair cracks through the second support line (where it meets up with the 14.6% Fib line then it should fall right through to the 38.2% Fib line?

The slow stochastic is turning towards the downside, signaling reversal (even if it may be temporary). I'm gonna go with this and target the 106.71 mark, followed by a period waiting and waiting.