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

Punch thru 135.000?

Originally Posted by Chazsani

Punch thru 135.000?

nope! tat 135 is acting pretty strong support.

I took half of that drop, might short again depending where it settles.

Todays range is still only 112 pips compared to the 5 day average of 415.

Originally Posted by cool_fx

Ummmm the Pivot is at 136.80 and R1 is at 138.20

May be 138s is possible but as u said, very fat chance.

I figured the last retracement took almost 300pips up;
i just go by safe scenario, either land a trade as safe as possible or don't launch at all. I frequently miss a lot of good moves though.

Did you mean 38.2% of Fib's retracement -when you said pivot?

S

Originally Posted by E-nexus

I took half of that drop, might short again depending where it settles.

Todays range is still only 112 pips compared to the 5 day average of 415.

yeah tat was suprising. i lost 50 pips in these ups and downs, oh well 300+ profit. lol cant complain abt 50. ha ha.

London push down thru 135? or push it up to 136.8?

Down thru (which raises the possibility it does not).

looks like im going to miss this boat again i was close to pulling the short button but held off. looks like it found resistance at that Fib line. i still think it might hit 130 or even 124 in the longer term view, we'll have to see.

4HR:

Here's a Daily view.

Daily:

Cchecking to see if I can figure the bounce after 135... and catch the bounce (and where the bounce will go, etc...).

Originally Posted by Movado21

Thanks for the insight sky. I'm short at 135.75 small as of now.. no confirmation yet.

Thanks again

Glad you got in. Try and hold them - i still say 133-ish by end of day.

Good luck.

This is like a car tyre with a puncture, surely and slowly going down.

no reason to long or close. Good luck all.

Originally Posted by skydiver

Glad you got in. Try and hold them - i still say 133-ish by end of day.

Good luck.

This is like a car tyre with a puncture, surely and slowly going down.

no reason to long or close. Good luck all.

hello all

i still favor the drop towards 133.8 (.764 fibs), although i would not rule out a rise back to 137s as well. If it rises up to 137 i will add bulks of shorts with SL at 140. This pair should not rise up above 138, unless it breaks the short term downtrend line.

Bears are in control now. Will close 1 set of lots at 133.8 if it reaches there. if it reaches 130 by next week i would be a happy man haha

Add: Good move 4xer...i closed my 1 set of lot manually at 134. looks like it's gonna bounce from there.

Guess I'm done for the week. 500 pips is pretty sweet.

Added a long @ 133.90. Looking for a bounce of 40 to 50 pips.

Originally Posted by MoneyInc.

Okay Guys The Bulls had there chance Confrimed downtrend. Then Eight hour shows an impressive possible drop to 91.10 area. An upward move cn not be ruled out but should not exceed, 93.89. The 4 hours Say we will stop at 92.24, then 91.83 91.55 then to 91.10. The 90.00 area will take long time to get through the supports are Very strong. Down trend target 87.50.

Some impressive events are on the horizon. If The 90.00 support holds higher I mean HIGHER HIGHS but if it punctures the 90.00 supports New low LOWS!

87.50 = can be done, especially if we have a global equity panic, which seems to be unfolding. And I agree, there are several strong support levels that are going to have to be taken out before we can go lower.

Confirmed downtrend? I know Sean will have something to say about that. I'll just say that sometimes there simply is no trend, as much as you want there to be one.

We are reaching an initial key level, around 92.22. If we see sustained trading below that, the door is indeed open to 92 or even 91.5. But to have a downtrend all those supports are going to have to be knocked out. They haven't been yet.

I see a key driver as risk aversion and the Euro/dollar. The EUD/USD is so bloody oversold that a panic short squeeze could erupt at any time. I would expect that to blow over into this pair, and yes, I would love to short around the 93.89 that you mentioned. We may get that chance if the Euro shorts get squeezed.

However, equities are reeling -- big time defensive posture. And US 10 years are shedding yield like there is no alternative to them. So the fundamentals right now do *not* signal stronger pair here.

I've been a bull since December, a careful bull, and I've made a pile. But as a famous man once said, "I change my opinion when the facts change, what do you do?"

nope! tat 135 is acting pretty strong support

coolfx...
how do you come up with 135 as strong support. I don't understand
.please explain thanks