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

I'm a beginner and still need to work alot on how to read charts.

Is this going to keep going up? I don't know whether I shoul get rid of my sell position that I have or not.....
I have a feeling that it might go down again, but that could be just what I'm hoping to happen.

The JPY Crosses have had a nice run on Hourly TF since yesterday as the JPY Index shows in the chart. I'm bit careful to see whether this is a new Bullish move or just a Correction to the Bearish run we've had since last few weeks now.

4H chart will confirm which way we're going to ...

Originally Posted by fxie

I'm a beginner and still need to work alot on how to read charts.

Is this going to keep going up? I don't know whether I shoul get rid of my sell position that I have or not.....
I have a feeling that it might go down again, but that could be just what I'm hoping to happen.

Hi , Since you are new I strongly advice you to trade the GBPUSD first (or any major) instead of dealing with this unmerciful monster ! Second , before starting any trade you have to change your logo Sorry for that but why have you choosen such a Frowning pessimistic look ? hahaha kidding pal , good luck

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Took a short this morning for a little ride, tgt's on the chart... mike

Originally Posted by FLFOREX

Took a short this morning for a little ride, tgt's on the chart... mike

Now that its finaly breached 132.50 (presently 132.26) I to can see this going to 131.50 next.

The USD/JPY 4 hour chart still looks weak right now.

Originally Posted by skydiver

Now that its finaly breached 132.50 (presently 132.26) I to can see this going to 131.50 next.

skydiver, wanted to tell u something... there is this company in london, have to find it for u, u pay them 3500 pounds... they set-up an account of 300,000 USD, u take 80% profit, they take 20%, but u are only allowed o SL of 4,000 USD... leverage 100:1, u can trade from their trading floor or at home, not sure how this looks, or if this is good for anything, a friend told me they advertise on efinancialcareers.com @ trading... hmmmm... sounds too good... is their own money ...

GBP/JPY paring back as GBP falls in general BUT so far its still above the hourly downtrend line.

first tgt hit, working on 2nd tgt now, moved stop down to secure 152 pips and will trail the rest till i get kicked out, mike

UPDATE: well that was quick, out for 152 pips, done for the week, hope everyone has a great memorial weekend!

The yen is taking down most pairs across the board right now. Could be the closing out of long positions before the holiday on thinner volume.

Originally Posted by FLFOREX

first tgt hit, working on 2nd tgt now, moved stop down to secure 152 pips and will trail the rest till i get kicked out, mike

UPDATE: well that was quick, out for 152 pips, done for the week, hope everyone has a great memorial weekend!

Yeah, lots of reversals going on today before the holiday weekend...on thinner volume than usual too.

Originally Posted by Sean Hyman

Yeah, lots of reversals going on today before the holiday weekend...on thinner volume than usual too.

HEHE reversals and thin volume, what a great combination, either very rewarding,..... or very painful

well just took another scalp short,13160, stop is in profit,ill move it down to secure what i canout of this one

UPDATE : out with 10.7 pips

Originally Posted by Sean Hyman

The yen is taking down most pairs across the board right now. Could be the closing out of long positions before the holiday on thinner volume.

Usually these pairs destroy me, but I have gotten some really good trades scalping the short side. Volatility has always been a monster on these pairs.

I blame my success on FX vids. Thx a bunch I haven't had an unsuccessful scalping trade yet. 4 out of 4 so far, for decent pips. Currently on my 5th.