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

Flat yen / $ € £ as we wait for the BOJ to point out where their line in the sand is. As we approach all time lows it wouldn't surpise me if they were to be on the phone , price checking the Yen and reminding the speculators that they are watching the Yen hurt their exporters and that cannot be allowed to go on forever.

IMHO the flight to safety should cause the yen to strengthen further and force the BOJ to fire more warning shots (press releases) ahead of the ineveitable forthcoming interventions.

77 Is where I would be putting my money where my mouth is ( and my savings ) with 76 as where I believe the printing presses in Japan will start to warm up. Risk to reward below 77 looks good for a very, very long term hold. With the € and £ also approaching multi year lows , it looks a better risk reward than trading gbp/$ and $/€ pairs at this present time.


Rather than trying to pick the bottom in Euro / Dollar , it seems to me at least to look for the bottom in Dollar / Yen and at least you can be safe in the knowledge that the BOJ are on your side.

These are the opinions of a novice ... putting a few hundred pips away for a rainy day , rather than get 0.25% from my savings account

Originally Posted by Alejandro Zambrano

It is time for the LIGHTNING ROUND

What are you trading? No need for a chart.

Long, short, or flat?



Pros as newbies are welcome!

Hey Traders! I am short at NZD/JPY @61.86 limit 61.50 stop at 61.97

DailyFX.com Bulls vs. Bears: The Spread Betting Morning Update July 23 - 2012
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SSI Details:

EURUSD - The ratio of long to short positions in the EURUSD stands at 1.62 as nearly 62% of traders are long. Yesterday, the ratio was at 2.06 as 67% of open positions were long. In detail, long positions are 2.9% lower than yesterday and 11.2% stronger since last week. Short positions are 23.6% higher than yesterday and 12.5% weaker since last week. Open interest is 5.8% stronger than yesterday and 6.0% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD losses.

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 1.17 as 54% of open positions were long. In detail, long positions are 19.1% higher than yesterday and 27.8% stronger since last week. Short positions are 9.8% lower than yesterday and 26.2% weaker since last week. Open interest is 5.8% stronger than yesterday and 1.4% 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 3.28 as nearly 77% of traders are long. Yesterday, the ratio was at 3.28 as 77% of open positions were long. In detail, long positions are 12.4% higher than yesterday and 19.6% stronger since last week. Short positions are 12.2% higher than yesterday and 5.0% weaker since last week. Open interest is 12.4% stronger than yesterday and 13.2% 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 10.77 as nearly 92% of traders are long. Yesterday, the ratio was at 9.28 as 90% of open positions were long. In detail, long positions are 1.6% higher than yesterday and 10.9% stronger since last week. Short positions are 12.5% lower than yesterday and 7.4% weaker since last week. Open interest is 0.2% stronger than yesterday and 21.5% above 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 -1.99 as nearly 67% of traders are short. Yesterday, the ratio was at -2.29 as 70% of open positions were short. In detail, long positions are 13.8% higher than yesterday and 11.3% weaker since last week. Short positions are 1.1% lower than yesterday and 7.4% weaker since last week. Open interest is 3.5% stronger than yesterday and 2.6% above 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 1.11 as nearly 53% of traders are long. Yesterday, the ratio was at 1.43 as 59% of open positions were long. In detail, long positions are 12.2% lower than yesterday and 4.7% weaker since last week. Short positions are 13.2% higher than yesterday and 4.8% stronger since last week. Open interest is 1.8% weaker than yesterday and 2.4% below its monthly average. The SSI is a contrarian indicator and signals more USDCAD losses.

AUDUSD - The ratio of long to short positions in the AUDUSD stands at -1.37 as nearly 58% of traders are short. Yesterday, the ratio was at -2.03 as 67% of open positions were short. In detail, long positions are 20.3% higher than yesterday and 11.3% stronger since last week. Short positions are 18.6% lower than yesterday and 19.4% weaker since last week. Open interest is 5.8% weaker than yesterday and 4.0% below its monthly average. The SSI is a contrarian indicator and signals more AUDUSD gains.

NZDUSD - The ratio of long to short positions in the NZDUSD stands at -1.10 as nearly 52% of traders are short. Yesterday, the ratio was at -1.27 as 56% of open positions were short. In detail, long positions are 7.5% higher than yesterday and 1.2% weaker since last week. Short positions are 6.6% lower than yesterday and 21.9% weaker since last week. Open interest is 0.4% weaker than yesterday and 12.6% below its monthly average. The SSI is a contrarian indicator and signals more NZDUSD gains.

Hello Traders,

Yen benefiting from flight to safety trade in the face of record high Spanish bond yields that could lead to a default.

Elliott wave counts are indicating more declines ahead but anything is possible so always trade with stops!

Happy Pipping!

Greg McLeod
DailyFX Forum Moderator/Trader

NZD/JPY Multiple Time Frame Elliott Wave Counts- Commodity currencies taking a disproportional hit versus the Japanese yen as fears of Spanish default and Italian contagion scare markets.

Originally Posted by Alejandro Zambrano

It is time for the LIGHTNING ROUND

What are you trading? No need for a chart.

Long, short, or flat?


Pros as newbies are welcome!

I'm actually long the AUD/JPY due for some relief if you ask me. Will get short on the Euro/JPY following the relief rally.

London session review and outlook July 23 - 2012
Review of markets covered in today's edition of Bulls vs. Bears: EUR/USD, GBP/USD, AUD/USD, FTSE100, S&P500, Gold, Brent Crude and WTI.

It might take up to 20 minutes before the video will be ready



Regards

Alejandro Zambrano
Currency Strategist | DailyFX Forum (London)
azambrano@fxcm.com

Follow me on twitter: https://twitter.com/AlejandroDFX


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Originally Posted by Uber FX nUblet7

That is a pretty nice position. Wish I would have gotten on as early as you did. I like it.

thanks, i like it too, but did not get in right at the top. but still, i cant complain

GBPJPY broke down passed the neck line on daily and is retracing the move on 4h. resis @ 122.04, 122.40 & 123.00.
ill go for a second short as long as we below one of those levels but on a shorter term (30min/4H) i expect price to head a little higher before i short.

GL.

AUD/JPY long atm preparing for a short. My current trading levels and triggers are defined in the chart below. Longer term triangle expecting a break south. The top of the range 82.35 within the large triangle has been topped and tested and it looks like we'll maybe move to test the lower range 79.35. A break there and maybe a test of 76.95 which should hold and provide support for a massive run up back to the top of the range and who knows from there. Will wait and see.

Originally Posted by Uber FX nUblet7

AUD/JPY long atm preparing for a short. My current trading levels and triggers are defined in the chart below. Longer term triangle expecting a break south. The top of the range 82.35 within the large triangle has been topped and tested and it looks like we'll maybe move to test the lower range 79.35. A break there and maybe a test of 76.95 which should hold and provide support for a massive run up back to the top of the range and who knows from there. Will wait and see.

nice set up. technically speaking on a daily we still in an uptrend but resis has hit from the weekly touch of the 200MA.
resis can keep price from moving higher and we'l head lower. once we roll over on weekly, bears are really ganna get rolling. do you see a little H&S, well i wouldn't say its small.

Attachment 139988


on a shorter term chart, we broke below the 200MA which is where you bought. u have a target which is the weekly pivot on my chart which are good places to go short if we manage to head up there

pressure is still to the down side, on 4 hour, but 30 min wants to head higher 80.77/81.00 area before we find stronger resis to take the pair lower.

if price cant break higher above the 200MA then more likely then not, will test 79.35 (monthly pivot) before we hit 81.36 (weekly pivot).

both important levels on the 4 hour, but if price follows the pressure on "daily" (not trend) then momentum wants to take the pair lower which means we will see monthly pivot hit before weekly.

got already few pairs open, but i would have similar lay out like yours



Attachment 139989

DailyFX.com Bulls vs. Bears: The Spread Betting Morning Update July 24 - 2012

Main presentation and Q&A session

http://www.livestream.com/dailyfx/video?clipId=pla_00af5f5a-29eb-481b-90fe-b22404d5f1d8&utm_source=lslibrary&utm_medium=ui-thumb

USDJPY




EURJPY

Hello Traders! Currencies are poised to make a move at the opening of the US stock market.

How are you positioned? Tell us as we start our

Opening Bell Lightning Round!

Don't be shy, tell us the currency pair that you are either long, short or the level you are waiting for.

No need for a chart (unless you have the time). This is just a great way to get everyone to participate and get a sense about market sentiment through our forum sampling!

Have fun!

Greg McLeod
DailyFX Forum Moderator/Trader

EUR/JPY Breakout Could Pick Up Momentum to 95.00 Level

SSI Details:

EURUSD - The ratio of long to short positions in the EURUSD stands at 1.57 as nearly 61% of traders are long. Yesterday, the ratio was at 1.44 as 59% of open positions were long. In detail, long positions are 2.8% higher than yesterday and 13.5% stronger since last week. Short positions are 5.3% lower than yesterday and 10.1% weaker since last week. Open interest is 0.5% weaker than yesterday and 5.6% above its monthly average. The SSI is a contrarian indicator and signals more EURUSD losses.

GBPUSD - The ratio of long to short positions in the GBPUSD stands at 1.44 as nearly 59% of traders are long. Yesterday, the ratio was at 1.66 as 62% of open positions were long. In detail, long positions are 0.8% higher than yesterday and 25.0% stronger since last week. Short positions are 16.2% higher than yesterday and 7.6% weaker since last week. Open interest is 6.6% stronger than yesterday and 7.1% above 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 2.78 as nearly 74% of traders are long. Yesterday, the ratio was at 2.86 as 74% of open positions were long. In detail, long positions are 1.8% higher than yesterday and 26.5% stronger since last week. Short positions are 4.8% higher than yesterday and 3.0% stronger since last week. Open interest is 2.6% stronger than yesterday and 15.9% 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 9.98 as nearly 91% of traders are long. Yesterday, the ratio was at 9.49 as 90% of open positions were long. In detail, long positions are 2.6% higher than yesterday and 13.4% stronger since last week. Short positions are 2.5% lower than yesterday and 13.4% weaker since last week. Open interest is 2.1% stronger than yesterday and 18.3% above 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 -2.17 as nearly 68% of traders are short. Yesterday, the ratio was at -1.93 as 66% of open positions were short. In detail, long positions are 2.8% lower than yesterday and 8.0% weaker since last week. Short positions are 9.4% higher than yesterday and 6.8% stronger since last week. Open interest is 5.2% stronger than yesterday and 7.3% above 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 -1.02 as nearly 50% of traders are short. Yesterday, the ratio was at -1.01 as 50% of open positions were short. In detail, long positions are 1.0% higher than yesterday and 18.6% weaker since last week. Short positions are 2.3% higher than yesterday and 23.7% stronger since last week. Open interest is 1.7% stronger than yesterday and 0.0% 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 -1.34 as nearly 57% of traders are short. Yesterday, the ratio was at -1.18 as 54% of open positions were short. In detail, long positions are 3.1% higher than yesterday and 19.7% stronger since last week. Short positions are 16.9% higher than yesterday and 17.8% weaker since last week. Open interest is 10.5% stronger than yesterday and 3.3% below its monthly average. The SSI is a contrarian indicator and signals more AUDUSD gains.

NZDUSD - The ratio of long to short positions in the NZDUSD stands at -1.14 as nearly 53% of traders are short. Yesterday, the ratio was at 1.08 as 52% of open positions were long. In detail, long positions are 2.6% lower than yesterday and 5.3% stronger since last week. Short positions are 20.3% higher than yesterday and 7.3% weaker since last week. Open interest is 8.4% stronger than yesterday and 4.8% below its monthly average. The SSI is a contrarian indicator and signals more NZDUSD gains.

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