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

Lets see how the pair reacts at the Monthly Support Zone between mid 88s and low 88s .. if we cant hold on to the support (for Short Term relief) then a drop to 85.xx is quite possible ...

out 128.50 wont be too greedy markets look bloody. Dow futures down 170.

Hit my 128 target but i was too chicken sh*t to hold just a bit longer

I don't knw why everyone in this forum is calling for long since 130s. My charts hasn't showed any signs of going up so far. I'm still holding shorts from 131.3 with my target at 125 still, since that's what my fibs are telling me to do. If anyone has a good reason why I should close my short and go long please advise. Am I the only bear here?

Ok i just closed 75% of my short at 128.3, considering it is my .764 fibs at 128. If broken my next target would be recent low at 126.7. My SL is at 129.6 currently (100-EMA in 15min chart)

Add: 128 is also today's S2/R2. So yea we might see a retracement from here. Lets see how European and US markets do today. Not looking well so far for EU markets.

Originally Posted by kcooperj

I don't knw why everyone in this forum is calling for long since 130s. My charts hasn't showed any signs of going up so far. I'm still holding shorts from 131.3 with my target at 125 still, since that's what my fibs are telling me to do. If anyone has a good reason why I should close my short and go long please advise. Am I the only bear here?

Ok i just closed 75% of my short at 128.3, considering it is my .764 fibs at 128. If broken my next target would be recent low at 126.7. My SL is at 129.6 currently (100-EMA in 15min chart)

I woould be with you on this Kcooper, price now 128.40 and i think it can go still go further down. Many trading hours left in the day, too many people callling the bottom here.

Good luck ( youve taken some profit, so it should be stress free for the rest of the journey).

Originally Posted by kcooperj

I don't knw why everyone in this forum is calling for long since 130s. My charts hasn't showed any signs of going up so far. I'm still holding shorts from 131.3 with my target at 125 still, since that's what my fibs are telling me to do. If anyone has a good reason why I should close my short and go long please advise. Am I the only bear here?

Ok i just closed 75% of my short at 128.3, considering it is my .764 fibs at 128. If broken my next target would be recent low at 126.7. My SL is at 129.6 currently (100-EMA in 15min chart)

Nice play Kcooperi. Dont know how GJ is going to react but markets overall lookin bearish. Dow Futures down pretty big and Greek Banks downgraded by JP Morgan. Fear is building up in the markets IMO.

i think is me that you guys are pointing out. lol....

i am probably the only one LONG here, added another one @ 128... i just see a retracement coming, but i cannot say where a bottom could take place... i am just long

i guess i tought that UK data, GDP... will help ... let's see

Originally Posted by FXTA

Nice play Kcooperi. Dont know how GJ is going to react but markets overall lookin bearish. Dow Futures down pretty big and Greek Banks downgraded by JP Morgan. Fear is building up in the markets IMO.

Absolutely. Most equitiy markets are down 2.5 - 3.5%. Irish bank stocks are down -10%. Spanish banks merging together which is causing suspicion. Then unsettling talk of aggression coming from Korea. All this could be the catalyst to bring this through the resistance zone and down to 125.

Originally Posted by kcooperj

I don't knw why everyone in this forum is calling for long since 130s. My charts hasn't showed any signs of going up so far. I'm still holding shorts from 131.3 with my target at 125 still, since that's what my fibs are telling me to do. If anyone has a good reason why I should close my short and go long please advise. Am I the only bear here?

Ok i just closed 75% of my short at 128.3, considering it is my .764 fibs at 128. If broken my next target would be recent low at 126.7. My SL is at 129.6 currently (100-EMA in 15min chart)

Add: 128 is also today's S2/R2. So yea we might see a retracement from here. Lets see how European and US markets do today. Not looking well so far for EU markets.

I'm also bear. Went short at 127.94 (a bit low I know) but I think it will reach recent lows at 126.7 and if it breaches there I expect we'll see a slide to around 118.

Hi. Bought at 128.23 Sl 50 pips Risky

Originally Posted by skydiver

Absolutely. Most equitiy markets are down 2.5 - 3.5%. Irish bank stocks are down -10%. Spanish banks merging together which is causing suspicion. Then unsettling talk of aggression coming from Korea. All this could be the catalyst to bring this through the resistance zone and down to 125.

Yeah its definitely building, Dont know where Brad has been but i remember he posted a chart targeting 118. if things get rough and fear builds up big, we may just get there soon.

Originally Posted by FXTA

Yeah its definitely building, Dont know where Brad has been but i remember he posted a chart targeting 118. if things get rough and fear builds up big, we may just get there soon.

Uk Gdp has come out positive yet had very little positive effect on this pair. (just goes to show that risk sentiment eclipses any positive news). There is strong momentum here which should last a couple of days.
So difficult to pick a target when price is at short term lows. Though as a day trade 127 looks realistic, with stops at 129.05. Just my view.

Good luck.

ADD: This North Korean dictarship is completely off its head. Or are they just shorting Geppy!

Originally Posted by skydiver

Uk Gdp has come out positive yet had very little positive effect on this pair. (just goes to show that risk sentiment eclipses any positive news). There is strong momentum here which should last a couple of days.
So difficult to pick a target when price is at short term lows. Though as a day trade 127 looks realistic, with stops at 129.05. Just my view.

Good luck.

from last night it did 200 pips, for the past few days, 100-200 pips were made withing half an hour to an hour, i am not convinced... will remain long... i BE @ 128.2 ... so anywhere above is profit...

skydiver, are u back on the real account? hmmm, this thing happened to me last year... and i prefered to leave u alone and not try to say how sorry as my words will not comfort u or bring back ure money as we are still strangers, friends on the internet , because last year i did not want to hear about anybody for a week or 2 ...such a bad feeling and i do not wish it to anybody

Originally Posted by mihaia2002

from last night it did 200 pips, for the past few days, 100-200 pips were made withing half an hour to an hour, i am not convinced... will remain long... i BE @ 128.2 ... so anywhere above is profit...

skydiver, are u back on the real account? hmmm, this thing happened to me last year... and i prefered to leave u alone and not try to say how sorry as my words will not comfort u or bring back ure money as we are still strangers, friends on the internet , because last year i did not want to hear about anybody for a week or 2 ...

Hi Mihaia
Thanks mate. No still on Demo and still reeling from the damage done. Trying but uncertain what to do next........so if you have a job going at your hedge fund.lol.
It was more the manner in which it happened that annoys me. Through caution out of the window and well... the rest is history.

128 is definately proving tough resistance, as expected.

So bear in mind anything i post isnt based on the possibility of me losing or making money. Ive been concentrating more on risk management these past weeks, moving stops to BE at the earliest oppurtunity and that sort of thing. If i can transfer my Demo tactics to real time trading then i should do well but we all know that isnt a simple job.

Originally Posted by skydiver

Hi Mihaia
Thanks mate. No still on Demo and still reeling from the damage done. Trying but uncertain what to do next........so if you have a job going at your hedge fund.lol.
It was more the manner in which it happened that annoys me. Through caution out of the window and well... the rest is history.

128 is definately proving tough resistance, as expected.

So bear in mind anything i post isnt based on the possibility of me losing or making money. Ive been concentrating more on risk management these past weeks, moving stops to BE at the earliest oppurtunity and that sort of thing. If i can transfer my Demo tactics to real time trading then i should do well but we all know that isnt a simple job.

if anything comes up i will let u know ... what happened is a mistake that in my opinion a trader is allowed to have as something like this hasn't happened in years ...... things always work out one way or another

i just took long. trading off the 5 min chart now, im learning how to short term trade . so guys, enlighten me.