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

Stratfor's 2011 Annual Forecast | FINANCIAL SENSE

Japan looks just plain ugly to me, financing a budget with debt of 200% of GDP!

Originally Posted by skydiver

Im with you on this one 4xer. Short 132.10 and now 131.48. Stops 133.20.
Target, a long way down.

Said this would go to 132.50 - 132.70 last week and that I would short on a daily Bear candle - now looks the right time. Might touch 132 today before coming back down. Im hoping the 2week climb up has been due to UK inflation and a possible combatant rate rise. My view is it wont come this spring, all the economists spent last year saying it will come March 2011. I dont believe the UK economy is strong enough to cope with a rate rise just yet. What with Januarys VAT rate hike.
Hence 123 next.
All very speculative but ive been waited patiently for these prices - so hopefully will receive my reward LOL.
I will only add futher shorts below a daily close of 129.

Oh yes looks like many have had a pleasant day!
Im sticking to the plan and holding out for 123. Ive moved my stops to 132.70 and am adding one more short now @ 130.08 (Stop also @ 132.70).

Price might retrace to 130.70 over coming days but this daily candle suggests further lows to come. IMHO.

I've seen some people putting in more shorts at this point and I was hoping to do that as well, but from the 4H chart it looks as though this pair is still oversold. I wonder if it would be wise to wait slightly before shorting some more?

Attachment 76974

Originally Posted by skydiver

Oh yes looks like many have had a pleasant day!
Im sticking to the plan and holding out for 123. Ive moved my stops to 132.70 and am adding one more short now @ 130.08 (Stop also @ 132.70).

Price might retrace to 130.70 over coming days but this daily candle suggests further lows to come. IMHO.

congrats sky..

look ur patient been well paid off..

Im also stick with my count and like i said in my previous post, i will add more lot if GJ can go to 132-13270 area... .. and i closed 12 short positon yesterday and it give me 3713 pips...

just let the other 3 position (short at 13231) running..

sorry, i will give my latest analysis once in office.. im out for my laptop since my last post..

anyway sky, i will probably in florida this august.. hopefully everything will clear this year.. , im sick with administrative issue here..

take care guys.. will update soon

The dragon is hovering at .382 retracement & just above support zone around beginning of last december at 129.34-129.51. I took 168 pips profit. Will consider short re-entry @ 129.30.

I'm having some trouble applying EW theory to the daily chart. On a 2 hour chart it seems to be applicable. But, is yesterday's move actually wave C of a correction or wave 3 of new downward trend?

Attachment 76984

Attachment 76985

Originally Posted by ernst86913

Since I posted my 81.5 target we are moving down... and... I agree with the 86 target - but first 81.5 .-)

"Where you will like to see prices fall (81.50) is a good place to put your stop"... that's one of the reasons...

Preparing for LONG entry @ 81.5-81.6 with first target @ 82.8...

Originally Posted by toomanytrades

The dragon is hovering at .382 retracement & just above support zone around beginning of last december at 129.34-129.51. I took 168 pips profit. Will consider short re-entry @ 129.30.

I'm having some trouble applying EW theory to the daily chart. On a 2 hour chart it seems to be applicable. But, is yesterday's move actually wave C of a correction or wave 3 of new downward trend?

Great charts toomanytrades! I was having that same difficulty apply EW to a Daily. Maybe zooming out with more bars will reveal something.

I remember from my old stock and option trading days that the US equity market usually tanks after the State of the Union address. With all of the funny money pumping up everything, I don't know if this theory is applicable now. However, if it does, we could get some more serious downside for the Dragon after it comes up for air from this dive.

heavily short from here.

Originally Posted by xiandaocai

heavily short from here.

will it get above 130.50 and further?

USDJPY May Look for Direction from FOMC

GBP/JPY Looks Bullish above 130.72

Originally Posted by Gregory McLeod

USDJPY May Look for Direction from FOMC

Can u start a new usd/chf sub-forum? There is a few of us who really enjoy this pair but are discussing them on eur$ and aud$, its a great alternative to usd/yen and on the cusp of a major move.

Thanks

HI ....

Double Top ....

Reflected in price because of the desire to re-

Test the neckline which was broken earlier


Will complete the fall to 123

Stop-Loss 132.50

Originally Posted by wan0903

congrats sky..

look ur patient been well paid off..

Im also stick with my count and like i said in my previous post, i will add more lot if GJ can go to 132-13270 area... .. and i closed 12 short positon yesterday and it give me 3713 pips...

just let the other 3 position (short at 13231) running..

sorry, i will give my latest analysis once in office.. im out for my laptop since my last post..

anyway sky, i will probably in florida this august.. hopefully everything will clear this year.. , im sick with administrative issue here..

take care guys.. will update soon

.....and back slapping back at you Wan. As always well done.
You make me nervous when you say you will short further at 132.70, thats where my stops are lol.

I jumped in a bit early last night and should of waited for this retracement up, as I believe not-now suggested. However this is the 50% retracement on yesterdays candle and Im completely with Birds North chart and sentiment.
Mentioned and suspected this might go to 130.70 today, so im not too worried. Yet.

4hr spinning top, now to see the next candle turn red and Daily S2 @ 128.90 will come before US GDP figure on Friday. With luck.

Originally Posted by vonzey

Can u start a new usd/chf sub-forum? There is a few of us who really enjoy this pair but are discussing them on eur$ and aud$, its a great alternative to usd/yen and on the cusp of a major move.

Thanks

What topic you'd like to discuss on USD/CHF? This pair is kind of similar to EUR/USD, I think. Then again... another new topics are always good for discussions.