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

Originally Posted by cool_fx

Short again at 145.30

Bro just wondering you sure you shorting? I see my charts and the pair is "TURNING" bullish...unless you wanna scalp, then that's a different story. But I see it going up to 146.2/146.5 area.

Originally Posted by kcooperj

Bro just wondering you sure you shorting? I see my charts and the pair is "TURNING" bullish...unless you wanna scalp, then that's a different story. But I see it going up to 146.2/146.5 area.

it just went down to 143.70. i made 100 pips moolah. so im just free styling now. DOW and NIKKEi are red. LONDON will follow suit.

This recent spike was the retracement in GU to 1.6190 area. it shud go down coz King dollar is winning evrywhere.

KING DOLLAR is out roaring. gold fell below 1100 first time. so its all adding up.

but then again, i dnt hve stratergies that i can exactly explain. i go by observing the charts and fundies.

My stops are above 147.20, target is 143.70, 143.20 and 142.45

Originally Posted by cool_fx

it just went down to 143.70. i made 100 pips moolah. so im just free styling now. DOW and NIKKEi are red. LONDON will follow suit.

This recent spike was the retracement in GU to 1.6190 area. it shud go down coz King dollar is winning evrywhere.

KING DOLLAR is out roaring. gold fell below 1100 first time. so its all adding up.

but then again, i dnt hve stratergies that i can exactly explain. i go by observing the charts and fundies.

My stops are above 147.20, target is 143.70, 143.20 and 142.45

Makes sense to me hehe...Will remain on sidelines though...good luck to everyone who are in trades.

Originally Posted by kcooperj

Makes sense to me hehe...Will remain on sidelines though...good luck to everyone who are in trades.

morning guys...

this is quick setup for gu n uj.. bcoz this two pair will give dirwection to geppy.. then just watch where they heading for...

btw, both are in retracement for 1234 pattern, just watch if they going down from any fibo level.. then we will going lower..

take care n happy trading...

Im now short again, with small number of lots.

GBPUSD at 1.6207

GBPJPY 145.30

GOLD added more lots 1107.5

this is purely based on fundamentals. Dollar is very high momentum today. this cud hve been just retracement and big downslides can happen once london opens.

Originally Posted by Sean Hyman

Geoff, so far, even though there's been a decent rally...the trend is still downward. Check out the chart below.

Hi Sean,

Been away for the week with work. The trade closed out with an 80 pip profit on both lots while I was gone. I noticed you had the Ichimoku cloud on your chart. I'm using Money Trek FX. Is this indicator available on this package? I also notice other forum members use the Elliot wave as part of their analysis. Is there some literature that's easy to access to give me some background on the Elliot Wave. Any assistance would be appreciated.

Regards

Geoff

Thanks Brad, I'll keep an eye on it. If the bullish harami doesn't hold by the months end do you think the down trend may continue?

Hi Guys,

Went short at 145.35 this morning... Target 141.50 or lower.. S/L 149.00.. This is a long term trade - will add to it pending.... No Santa rally insight.. Sneaky feeling that it could head to 139 area by year end.. Just MHO!!..

Good luck in all your trades..

Originally Posted by Geoff Cairns

Thanks Brad, I'll keep an eye on it. If the bullish harami doesn't hold by the months end do you think the down trend may continue?

Yep... In my opinion USD/JPY could drop to 80.00 in the blink of an eye to complete a long term elliott wave pattern, and surprise the heck out of everyone.. But there seems to be some USD strength forming in the broader market so it's worth considering that there may actually be some up side in this pair yet.... USD/JPY is the ugliest pair to trade right now due to unclear pattern, if you're not in it, just leave it alone until it clears up a bit more...

Originally Posted by Mike in Japan

Hi Guys,

Went short at 145.35 this morning... Target 141.50 or lower.. S/L 149.00.. This is a long term trade - will add to it pending.... No Santa rally insight.. Sneaky feeling that it could head to 139 area by year end.. Just MHO!!..

Good luck in all your trades..

Hello Mike and others,

While most people is going short now, My long order got executed at 145.7 with SL at 145 (pivot). I am bearish myself now, but wud like to make use of this current S-T momentum to target 146.3 (S1). From the 146 region I will short with SL above recent high at 147.3...

There are rumours that this pair would head towards the 135 region by end of year! only god knows where it will head to. So lets see

Add: And as I was typing my order was closed at 146.3. Will remain on sidelines now. Keep in mind that I am still Bearish on this pair like everyone else...

Add2: Just shorted from 146.3. SL would be above recent high at 147.3. I"m looking at 143.3 as my target, but will change when I come back again next monday. Done for this week. Will leave position running.

Have a great weekend all!

Originally Posted by wan0903

morning guys...

this is quick setup for gu n uj.. bcoz this two pair will give dirwection to geppy.. then just watch where they heading for...

btw, both are in retracement for 1234 pattern, just watch if they going down from any fibo level.. then we will going lower..

take care n happy trading...

Hye guys...

i take a risk to short 3 lot of 500k gj at 14640 and also uj at 9020.. i guess this is for last position b4 holiday next week.. , btw both level stand at my 236 fibo (refer to my last post) .. hope everything done as targteted..

take care and see ya next week

The beast is still looking very choppy.... I'm favoring up side in the big picture... Even though my gut says sell it... I guess we'LL see how it goes... The market is very undecided at 148.15 for the time being ... I will continue to wait for clear set-ups to trade in the beast, but nothing less.... Keep in mind the beast rallied from this area for 7 years the last time it was down here around the millenium... There is big potential for a longer term bottom to form here... I know the drop from 250.00 must have the words "Biggest Loser" still permenantly etched in the minds of most traders.... But don't give up hope on this pair just yet...

These charts are speculation ... Not written in stone......///

--------------->

Originally Posted by kcooperj

Hello Mike and others,

While most people is going short now, My long order got executed at 145.7 with SL at 145 (pivot). I am bearish myself now, but wud like to make use of this current S-T momentum to target 146.3 (S1). From the 146 region I will short with SL above recent high at 147.3...

There are rumours that this pair would head towards the 135 region by end of year! only god knows where it will head to. So lets see

Add: And as I was typing my order was closed at 146.3. Will remain on sidelines now. Keep in mind that I am still Bearish on this pair like everyone else...

Add2: Just shorted from 146.3. SL would be above recent high at 147.3. I"m looking at 143.3 as my target, but will change when I come back again next monday. Done for this week. Will leave position running.

Have a great weekend all!

My long order was triggered @ 144.81 and Ive just closed it for 150 pip profit.
I seem to do better at this when Im a sleep!

Ive just SHORTED @ 146.25 STOP 147.40.

Despite the latest bounce, the pair still remains confined to a very strong downtrend and any rallies are seen limited, in favor of a bearish resumption. Look for any additional rallies to stall out ahead of the 100-Day SMA in the 91.00 area, with only a break and close back above 92.35 to delay outlook and give reason for re-think. Key support now comes in by 87.35, and we look for a break back below this level over the coming days to confirm bearish continuation and expose a retest of the recent multi-year lows at 84.80. STRATEGY: SELL @90.70 FOR AN OPEN OBJECTIVE; STOP 91.70. RECOMMENDATION TO BE REMOVED IF NOT TRIGGERED BY NY CLOSE FRIDAY. 3X LEVERAGED.

All my best,

Joel

I can see this Ranging within this Triangle over the holidays