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

I am placing a market entry order just under the updated pivots at the US Close

Short Entry from 60.81
S/L 61.45
T/P 60.16/59.75 S1/S2

Happy Trading See Yous In the Morning.

Euppy 4 hrs has a supp rt above parity lvl and is a dual.. Can expect this bounce to reach 100.62-66 b4 perhaps sellers cap it out and a move under parity for a 99.10 would not surprise me.. This lvl however comes in as an attractive buy point and if can hold out should be provoking a corrective bounce to 104.20-30...
Main 8 hrs chart shows the bigger picture..

GL..

Originally Posted by Uber FX nUblet7

I am placing a market entry order just under the updated pivots at the US Close

Short Entry from 60.81
S/L 61.45
T/P 60.16/59.75 S1/S2

Happy Trading See Yous In the Morning.

It never hit my entry unfortunately it did have another leg down.
The swing back up seems all but over I'll have to watch and see how the markets swim after the open today. Looking for something to open and close by the end of the day.

Originally Posted by not_now

Well.. I told you CHFJPY is going to 86)
now it's for CADJPY part of the prediction to come true...but it will
I KNOW IT WILL

Dear all..as you can see several months ago I wrote that CHFJPY is going to 86 and CADJPY to 78.30..now my both predictions came true)) I think I've done my due diligence and warned you not to sell the Yen back then as some suggested.
For now I should mention that last thing you should do now is buy Yen - Joel Cruger says there is now bottom in sight which probably means that the bottom is just around the corner. There is interesting technical situation on CHFJPY - price reached both 161% extension and bottom of the channel. Here it is

Hello Traders,

The US economic announcement cabinet is empty as all eyes will be on the Facebook IPO and the G8 Meeting in Camp David 63 miles from Washington D.C.

This G8 meeting will last 3 days and end Sunday. The statement following will be heavily watched as some type of collective intervention or other announcement could be in store!

Happy Trading!
Greg McLeod
DailyFX Forum Moderator

SSI Details:

GBPJPY - The ratio of long to short positions in the GBPJPY stands at 2.47 as nearly 71% of traders are long. Yesterday, the ratio was at 3.22 as 76% of open positions were long. In detail, long positions are 7.4% lower than yesterday and 29.9% stronger since last week. Short positions are 20.8% higher than yesterday and 5.2% weaker since last week. Open interest is 0.8% weaker than yesterday and 12.8% above its monthly average. The SSI is a contrarian indicator and signals more GBPJPY losses.

USDJPY - The ratio of long to short positions in the USDJPY stands at 5.85 as nearly 85% of traders are long. Yesterday, the ratio was at 6.59 as 87% of open positions were long. In detail, long positions are 0.0% higher than yesterday and 3.3% stronger since last week. Short positions are 12.7% higher than yesterday and 1.7% weaker since last week. Open interest is 1.7% stronger than yesterday and 6.7% above its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses

Charts from today's edition of the webinar Bulls vs. Bears @ The Trading Room 10:30 GMT (11:30 UK time or 06:30 EST Mon - Fri)

Recorded version
Bulls vs bears spread betting market update May 18 2012on DailyFX Live Trading Room - live streaming video powered by Livestream

USD/JPY

I'm going short from 60.09 to S2 and hopefully a breakdown throughout the day toward S3.

The market seems pretty optimistic to Facebooks IPO but I can't buy anything into that enthusiasm. My thinking is wow, it is really great to see Facebook go public but what do they really offer to the markets to counter what has been the cause of the recent breakdowns in Europe and Greece in particular.

A Big Fat NOTHING. I expect us to be down by the end of the day. The enthusiasm seems to be wearing off for the broader market already. Although it has created a lot of buzz on the Financial News Networks.

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Happy Trading!

Originally Posted by Uber FX nUblet7

It never hit my entry unfortunately it did have another leg down.
The swing back up seems all but over I'll have to watch and see how the markets swim after the open today. Looking for something to open and close by the end of the day.

Well, I got my wish and opened and closed an NZD?JPY position at +46.
It has been a good week. Have a good weekend. See yous on Monday.

Thanks Alejandro,

After that last entry the things went south really quick, I was away to spot the cup and handle failure and naive enough to remove my stop at 80 as I did not anticipated such a strong down move overnight
What caused it? Still confused on the reason for such a sell off...

MAXJOY

Originally Posted by Alejandro Zambrano

MaxJoy, welcome to the forum. Good to see you post about your trades. Don't forget to post next time you trade.

Best wishes
Alejandro

Originally Posted by MAXJOY

Thanks Alejandro,

What caused it? Still confused on the reason for such a sell off...

MAXJOY

The same thing that causes 90% of all large market moves.....the big traders pushing the market in the direction they want it to go after having positioned themselves the day before or previously, to capitalize on such a move.

Hello traders! I hope you have had a great weekend and you are fired up and ready for another exciting week of trading!

We have a new poll asking what you think about the Yen this week


Join me in 20 minutes for Pip and Run live scalping!

Happy Pipping!

Greg McLeod
DailyFX Forum Moderator

Charts from today's edition of the webinar Bulls vs. Bears @ The Trading Room 10:30 GMT (11:30 UK time or 06:30 EST Mon - Fri)

Recorded version
Bulls vs bears spread betting market update May 21 2012on DailyFX Live Trading Room - live streaming video powered by Livestream

QA session
QA Bulls vs bears spread betting market update May 21 2012on DailyFX Live Trading Room - live streaming video powered by Livestream

Good Morning every1. I hope you all had a great weekend.

Was I right that I thought I heard rumors Japan is contemplating new stimulus throwing my YEN trade for a loop?

My trade this weak is to play the yen strength in the face of mounting European woes.

Short NZD/JPY off the pivot. I admit I got into this trade a bit prematurely. I didn't follow my gut and wait for the push to R1. This is very characteristic of me and I need to really address that. My S/L was large enough to absorb the extended pullback so I have managed it so far.

The trade is closer to break even now thanks goodness.

Short NZD/JPY from 59.94 looking for an open objective at moment. The week is still young. Will assess as things develop.

Anybody else trading a Yen pair?

Originally Posted by Uber FX nUblet7

Good Morning every1. I hope you all had a great weekend.

Was I right that I thought I heard rumors Japan is contemplating new stimulus throwing my YEN trade for a loop?

My trade this weak is to play the yen strength in the face of mounting European woes.

Short NZD/JPY off the pivot. I admit I got into this trade a bit prematurely. I didn't follow my gut and wait for the push to R1. This is very characteristic of me and I need to really address that. My S/L was large enough to absorb the extended pullback so I have managed it so far.

The trade is closer to break even now thanks goodness.

Short NZD/JPY from 59.94 looking for an open objective at moment. The week is still young. Will assess as things develop.

Anybody else trading a Yen pair?

If this R1 line doesn't hold, "Houston, we might have a problem!"