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

Originally Posted by Sean Hyman

Padawan, don't think it's a bullish flag by the way it acted afterwards.

However, I still think there may be a bullish pattern there....the falling wedge.

Hey Sean, thanks for the course you signed me up for, it is great so far.

Do you know what the heck is going on, the USD/JPY and and GBP/JPY are crashing. I cannot see any news event on CNBC that would reflect this behavior.

Originally Posted by Pipmeister

Hey Sean, thanks for the course you signed me up for, it is great so far.

Do you know what the heck is going on, the USD/JPY and and GBP/JPY are crashing. I cannot see any news event on CNBC that would reflect this behavior.

You're welcome. Glad you like the course. That's awesome!

The yen is going nuts over the thought that China may take more action about stemming the rate of its GDP growth by restricting lending even further.

Does anyone know what event caused this pair to go down so rapidly???

Originally Posted by Pipmeister

Does anyone know what event caused this pair to go down so rapidly???

Last night China data has completely confused the investors (a sizable money flow started pouring into commodities). However at the end of the Asian session it wasn't beyond 61.8% Fibonacci level of the pattern that started last week. Further, London session put JPY crosses into the range and that made the China GDP case weaker...US unemployment claims data put the final blow out to China GDP case (and thus higher commodity prices).

...I was in these crosses since yesterday and very carefully managed my risk and reward ...I am glad it worked out well and worked out well sooner than I expected it to be...I dont think I will be lucky every time...

D

Guys, whats your TP in this short?

Long @ 146.50

Originally Posted by wan0903

guys...

here are my EW count in H4 TF...

we are heading to wave 3.. which i think will end at FE 100 (14680) and may extend to FE 1618 at 14556 (depends on news) to complete wave 5.. then i assume it will going up higher from there...

again, current upside finished at my 618 fibo for EW count at (14970, H4 TF) and 23.6 fibo for 1234 pattern (14897, H1 TF)

my 1st target again at FE 618 at 14760 area, which coincidence same as my count for 1234 pattern..

take care and happy trading

hye guys...

haha,,, reach my target at 14680 and going lower to 14645.. closed all my short.. although we might going lower to challange FE 1618 at 145 area, i would say it will bounce from here...

i will wait till asia open tmorrow,,,

take care and have a good pip

Originally Posted by 4xer

Long @ 146.50

Hedge yourself through another broker, my friend, IMHO!!!

Sean very nicely explained yesterday why this pair technically is in for the rapid and sizable move very soon...

further fundamental doesnt support money flow into GBP

D

yabbbaa dabbba dooooo.

wuhooooooooooooooooooooooooooo

took 70% of profits already.

im lovin it.

lol lol.

Originally Posted by dharminpdesai

Hedge yourself through another broker, my friend, IMHO!!!

Sean very nicely explained yesterday why this pair technically is in for the rapid and sizable move very soon...

further fundamental doesnt support money flow into GBP

D

Glad you liked the GBP/JPY technical break explanation.

All hedges do is delay things a bit. One sided risk still has to be taken at some point to get anywhere.

folks buy gold for long term if you want.

its cheap now.

Since dollar is loosing. people might run towards gold in few days.

Originally Posted by cool_fx

yabbbaa dabbba dooooo.

wuhooooooooooooooooooooooooooo

took 70% of profits already.

im lovin it.

lol lol.

Congrats on the wins.

You going Fred Flintstone on us?

we are very very close to breaking the 146-145 resistance area.

if that breaks then 143 is sure to get hit with even 142s in sight.

but all depends on how DOllar goes from here.

GBP is already doomed. so no tension from that side.

if dollar weakens further and USDJPY crashes more then this puppy will go down more and more. lol.

Originally Posted by dharminpdesai

Hedge yourself through another broker, my friend, IMHO!!!

Sean very nicely explained yesterday why this pair technically is in for the rapid and sizable move very soon...

further fundamental doesnt support money flow into GBP

D

Long again @146.17

I will Hedge if I need to with my current broker. If you look back at my previous posts I am a hedger. Thanks for your input.

I am a Bear by nature however I am also a contrarian. Everyone is saying short now so I will go long until I see a definative break and confirmation. My indicators are saying oversold. Now I know this pair can and will extend. However this is a rising wedge. Also this 145-146 area was previous resistance a few times. Also I dont hold trades long. I make more $ by multiple trades of 20 pips to 100 pips. Just my trading style. I will add small positions to the trade as needed until I reach my full risk.

If you try to make decisions on the fundamentals and what should happen you will go broke. This market doenst make sense most of the time until afterwards when all the paid analists get paid to explain why it happened then it sounds good. (No offense Sean! But you know what I mean)

Good luck an hope you can keep your shorts I might join you but not quite yet. I was short from 148.60 and 148.90. I try not to get greedy.

Originally Posted by 4xer

Long again @146.17

I will Hedge if I need to with my current broker. If you look back at my previous posts I am a hedger. Thanks for your input.

I am a Bear by nature however I am also a contrarian. Everyone is saying short now so I will go long until I see a definative break and confirmation. My indicators are saying oversold. Now I know this pair can and will extend. However this is a rising wedge. Also this 145-146 area was previous resistance a few times. Also I dont hold trades long. I make more $ by multiple trades of 20 pips to 100 pips. Just my trading style. I will add small positions to the trade as needed until I reach my full risk.

If you try to make decisions on the fundamentals and what should happen you will go broke. This market doenst make sense most of the time until afterwards when all the paid analists get paid to explain why it happened then it sounds good. (No offense Sean! But you know what I mean)

Good luck an hope you can keep your shorts I might join you but not quite yet. I was short from 148.60 and 148.90. I try not to get greedy.

GBP/JPY breaks south and heads towards its price target.