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

Originally Posted by Luxuriant

G20 meets right after the Greek elections. Could they be on hold, waiting for the outcome?

EDIT: When you think about. Joint effort by the allies to stimulate the markets. Then after the Greek elections they exit. The stimulus would be null, and void. Complete disaster.

That is probably what they are waiting for. June 17th is far away. It is hard to imagine the market just moving sideways for the next 12 days.

Originally Posted by Luxuriant

Taking a small beating on my AUD & GBP / YEN shorts. Thats OK AUD/JPY now has a triple top. USD/JPY spiking higher. Wondering about intervention?

Hello Luxuriant, the BOJ next meets for a policy meeting on June 14-15. Talking heads believe they will become more serious about easing, and intervention. IF true USD/JPY should move higher from its lower base. But they have not proved to the market they can make a difference.

The Bank of Japan seems to be powerless and silent in the face of this massive appreciation in their currency. The 10 -year US Treasury bond posted a a bearish reversal pattern on a daily chart which could help support a weaker yen

Originally Posted by Luxuriant

IF true USD/JPY should move higher from its lower base. But they have not proved to the market they can make a difference.

..but how can we know!? nobody knows where USDJPY would've been now, had it not been for BoJ interventions

Originally Posted by Gregory McLeod

The Bank of Japan seems to be powerless and silent in the face of this massive appreciation in their currency

But why? It's their own currency, they can print how much they want and sell it..like SNB that would buy unlimited quantities of foreign currencies...none the less, as long as USDJPY is above historic low at 75.50 probably it will not warrant any drastic measures from BoJ.

Needless to say I closed out my earlier posted trade. I took a scalp up for a few pips after the pair showed some follow through.

I'm scalping back down to R2 as it takes a rest and hopefully reloading to the upside depending on how the futures look. Maybe from R1\R2 back up to R3

Originally Posted by not_now

But why? It's their own currency, they can print how much they want and sell it..like SNB that would buy unlimited quantities of foreign currencies...none the less, as long as USDJPY is above historic low at 75.50 probably it will not warrant any drastic measures from BoJ.

We'll not_now, your patience has paid off as rumors of future intervention as well as rising US 10-year Treasury are working to weaken the yen! Great call!

Charts from today's Bulls vs. Bears webinar

Bulls vs bears spread betting market update June 6 2012on DailyFX Live Trading Room - live streaming video powered by Livestream

EUR/JPY


USD/JPY

Originally Posted by Uber FX nUblet7

Needless to say I closed out my earlier posted trade. I took a scalp up for a few pips after the pair showed some follow through.

I'm scalping back down to R2 as it takes a rest and hopefully reloading to the upside depending on how the futures look. Maybe from R1\R2 back up to R3

Congratulations on your Kiwi Yen Win, (a little morning rhyme) Looks like a turning point for the a weaker yen that not_now has been talking about. Hats off to his indicators!

Hello Traders,
Here is the SSI update for today.

Happy trading!

Greg

SSI Details:

EURUSD - The ratio of long to short positions in the EURUSD stands at -1.06 as nearly 51% of traders are short. Yesterday, the ratio was at 1.10 as 52% of open positions were long. In detail, long positions are 6.4% lower than yesterday and 21.1% weaker since last week. Short positions are 9.4% higher than yesterday and 31.6% stronger since last week. Open interest is 1.1% stronger than yesterday and 4.0% below its monthly average. The SSI is a contrarian indicator and signals more EURUSD gains.

GBPUSD - The ratio of long to short positions in the GBPUSD stands at 1.54 as nearly 61% of traders are long. Yesterday, the ratio was at 1.88 as 65% of open positions were long. In detail, long positions are 7.1% lower than yesterday and 29.1% weaker since last week. Short positions are 13.0% higher than yesterday and 53.2% stronger since last week. Open interest is 0.1% weaker than yesterday and 12.5% below its monthly average. The SSI is a contrarian indicator and signals more GBPUSD losses.

GBPJPY - The ratio of long to short positions in the GBPJPY stands at 2.70 as nearly 73% of traders are long. Yesterday, the ratio was at 2.86 as 74% of open positions were long. In detail, long positions are 1.0% lower than yesterday and 8.3% weaker since last week. Short positions are 4.9% higher than yesterday and 13.4% stronger since last week. Open interest is 0.5% stronger than yesterday and 5.5% 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 6.12 as nearly 86% of traders are long. Yesterday, the ratio was at 7.47 as 88% of open positions were long. In detail, long positions are 13.6% lower than yesterday and 14.1% weaker since last week. Short positions are 5.4% higher than yesterday and 20.6% weaker since last week. Open interest is 11.4% weaker than yesterday and 9.9% below its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.

USDCHF - The ratio of long to short positions in the USDCHF stands at -1.18 as nearly 54% of traders are short. Yesterday, the ratio was at -1.25 as 56% of open positions were short. In detail, long positions are 0.8% higher than yesterday and 5.1% stronger since last week. Short positions are 4.9% lower than yesterday and 18.1% weaker since last week. Open interest is 2.4% weaker than yesterday and 13.0% below its monthly average. The SSI is a contrarian indicator and signals more USDCHF gains.

USDCAD - The ratio of long to short positions in the USDCAD stands at -1.59 as nearly 61% of traders are short. Yesterday, the ratio was at -2.08 as 68% of open positions were short. In detail, long positions are 12.0% higher than yesterday and 8.2% stronger since last week. Short positions are 14.7% lower than yesterday and 21.8% weaker since last week. Open interest is 6.0% weaker than yesterday and 7.9% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD gains.

AUDUSD - The ratio of long to short positions in the AUDUSD stands at 1.98 as nearly 66% of traders are long. Yesterday, the ratio was at 2.56 as 72% of open positions were long. In detail, long positions are 5.0% lower than yesterday and 29.4% weaker since last week. Short positions are 22.4% higher than yesterday and 27.9% stronger since last week. Open interest is 2.7% stronger than yesterday and 5.1% below its monthly average. The SSI is a contrarian indicator and signals more AUDUSD losses.

NZDUSD - The ratio of long to short positions in the NZDUSD stands at 2.29 as nearly 70% of traders are long. Yesterday, the ratio was at 2.70 as 73% of open positions were long. In detail, long positions are 6.2% lower than yesterday and 2.8% stronger since last week. Short positions are 10.6% higher than yesterday and 18.1% stronger since last week. Open interest is 1.7% weaker than yesterday and 6.7% above its monthly average. The SSI is a contrarian indicator and signals more NZDUSD losses.


*No warranties or guarantees are made with respect to the content contained herein. The website and the guests on this site do not take into account the investment objectives, financial situation or particular needs of any particular person. The advice and trading ideas provided on this website are for informational purposes only and are not intended as a trading ideas. Under no circumstances does any advice or trading idea contained herein constitute a solicitation to buy and sell currencies. We do not endorse and cannot vouch for any of the guest traders on this site.

Originally Posted by Gregory McLeod

We'll not_now, your patience has paid off as rumors of future intervention as well as rising US 10-year Treasury are working to weaken the yen! Great call!

Thanx Greg

Weekly EUR/JPY Double Bottom- Higher US bond yields, rumor of G7 approved Japanese intervention, and possible QE3 statement from Bernanke could send yen lower

i was thinking of selling the gbp/jpy now(122.50). putting my stops at 123.00 and my limits at 121.00. im using the 1hr time frame also if i can interpret the MACD signal i think is a good time o put a sell. any advice?

Originally Posted by yunior

i was thinking of selling the gbp/jpy now(122.50). putting my stops at 123.00 and my limits at 121.00. im using the 1hr time frame also if i can interpret the MACD signal i think is a good time o put a sell. any advice?

Hello junior,

It is good that you have defined your risk and your potential reward in your trade. The longer term trend is down but the short to intermediate term trend is up.

I wish you well on your trade!

Originally Posted by Gregory McLeod

Hello junior,

It is good that you have defined your risk and your potential reward in your trade. The longer term trend is down but the short to intermediate term trend is up.

I wish you well on your trade!

hello Gregory. what i was thinking is it a good aidea to sell or should i wait to see if it keep going up and then buy?

Okay hourly studies be looking down but I had to check out the scene on the 4 hours to see my trade theory a little better. I'm thinking the horizontal Blue line representing resistance is going to prove to be a temporary stronghold overnight at the very least. A small retrace back to Pivot and a resumption of the bullish momentum on the 4 hours takes over again.

So I am short from the Blue-line @61.07 down to the Pivot Point. Looking to reload back up to Not_Now's 62.00 break. Looks good for a busting into the upper channel range which gives us some decisions to make regarding an outright trend reversal. I am also looking at S1 as it is a 50% retrace of today's bullish move so I may not rule a drop down to that area out. I just want to pip out and not get caught reaching We'll see what happens.

Wish me lucks. This thing could blow right past the blue line an stop me out at R1.. lol.