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

This pair is determined to cause alot of pain.
Still holding short but with alot of pain

Originally Posted by sirfx

Its so nice when the medium term target gets hit! Like Tlord says, I agree with a drop maybe after 100-150 upside from 13641. Watch your butts!

We need a daily close above 13641, if not today then tomorrow...

SIRFX

Hi Sirfx,

My reasons for staying long are running out, G/J has potential to reach 138.60ish, possible tonight. U/J and G/U are now lining up together ready for a reversal in the same direction.

I'm ready and waiting for the bungee jump with a parachute Ha Ha Lol

Originally Posted by Tryin to trade

This pair is determined to cause alot of pain.
Still holding short but with alot of pain

Hi Joes and Tryin to Trade
Thats why i closed my short earlier for a loss (previous post). I agree its looking very stubburn, however im closing my long now for +38 pips as i think it is beginning to show some weakness at this 136.70 level.

Im placing a short now @ 136.77. Stop 137.20 but im only targeting 136.20. Im looking for longs further down. I think bears should be very cautious with any hope of some big falls, near term. Ive been the most hesitant Bull out there in recent weeeks but due to what seems a shift in market sentiment with regard to risk i can see 139 next few days. I hate opposing our most respected posters out there but this is my personal view.


Any way that car, Trying to Trade, looks like my old Banger i sold the other week. (i wish).

Im on holiday tomorrow for 3 weeks guys and i wont be taking any sneaky looks at a lap top like Time Lord.
So i want to wish you all the best and many pips.

Bye for now. (might pop my head in later)

ADD: Just noticed Time Lords post and he is thinking the same but with RSI in 15 min TF running at overbought you guys might be able to find a more suitable exit further down. IMHO.

Originally Posted by skydiver

Im on holiday tomorrow for 3 weeks guys and i wont be taking any sneaky looks at a lap top like Time Lord.

I bet you have a peep!

Have a good one

Buying the JPY over the USD is wrong on so manuy levels I can't even get into it - on a fundamental basis this is insane - "the long term fundamentals support the USD against the JPY because of interest rate, growth, and financial stability." (John Kicklighter FXCM Currency Strategist)

If you're a fundamental trader this looks like the break we've been looking for
allthough we can still lose more ground during the bottoming process - probably due to all the teckies who have no clue - lol - just teasing you guys after the long is half over i'm sure you'll join the party ;-) Good hunting everyone!

Long again from 87 this time

I don't understand, The market is down a whole day from the open. But this pair is just climbing. I'm still short from 136, and I didn't get out. Not doing well here with money management either.

Dumped my shorts at 136.7 and went long. So far recovered half my losses.

Originally Posted by liacF

looking at longer time frames---daily, weekly, monthly, i'm inclined to jump to the conclusion that $/jpy can only have sustained upward movements if 1) no risk aversion and 2) general dollar strength, which rarely happen at the same time. this may change in the future, but for the past, whenever either of the factors worked against the dollar, the other dollar-favourable condition would get overriden.

OMG that has to be the worst chart to trade off of I've ever seen - lets take another llook shall we

Originally Posted by Tryin to trade

Dumped my shorts at 136.7 and went long. So far recovered half my losses.

Well done - hardest thing to do is Stop for a loss and reverse.
I took a -12 pip loss on my short - no more trades for me for 3 weeks and i can honestly say i wont miss it, never thought i would say that!
Ive found it difficult to make profits (or rather hold profits the past month) so hopefully i will come back feeling refreshed and revitalised to a market thats prepared to be a little more generous.

By the way, Gregory gave us a great warning with the SSI yesterday - so well done to him.

Mash.

Hi. Any Bears around ? Still dreaming ?

Originally Posted by Joes

I don't understand, The market is down a whole day from the open. But this pair is just climbing. I'm still short from 136, and I didn't get out. Not doing well here with money management either.

Me neither lost it all on this one. I'm close to done, down quite a few G's to date. I've never had a day I was up from when I started.Just less loss till now.
Every one says short no long here's my chart. It's just guessing while they(banks) take our account down. Have fun guys

Did alittle checking and the last time G/J ran like this was back in the end of March (earnings). It looks like it ran up for 8 straight days with no pull back.

Originally Posted by robetrix

I expect rate to test upper channel line as shown in the chart in the next hours where I intend to close long positions and probably open short.
In any case SL was moved to +30 (0.8741)

Well done! Prices got close to your stop. I only wish I was so fortunate. Prices tend to go past my stops by between 3 - 20 (average around 12) pips, and then turn back in my favour without me in the market.

Originally Posted by jet813

OMG that has to be the worst chart to trade off of I've ever seen - lets take another llook shall we

Ha-ha! If I turn mine upside down I might do better at trading!
Are you a bit happier now the Yen lost some weight?

Regards,
Lee.

Originally Posted by skydiver

Well done - hardest thing to do is Stop for a loss and reverse.
Ive found it difficult to make profits (or rather hold profits the past month) so hopefully i will come back feeling refreshed and revitalised to a market thats prepared to be a little more generous.

Jully is a hell month for me. Lost 50% of my account just in one month I was keep telling myselft to stop when I lost 30% but today was one of those other bad days when I lost 20% mostly on that stupid GBP/JPY pair. That stupid range is driving me nuts! Is it over by today or it's just playin arround at that stupid 136.40 area. It just made me at 10:30 AM EST and 11:00 AM EST: "Oh, I'm gonna go over 136.40 and after 30 min no no no I'm gonna go back and in next 30 min no no no I will go above!!! Why did I close that long trade I had????????" Well atleast I learn my lesson: stop chasing the market!