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

I am Still looking at 92.50 to enter short....I have waited for two days,,,now! Will it happen?

Ah, I see, very clear and easy to understand. Thanks.

Your good Russ the pair was coming off a good upward move when I looked at it.

your good!

NOW WE GO DOWN

Originally Posted by mjjjfer1

NOW WE GO DOWN

Thats also how I see it. I would like to see the impact the Asian session has on this but my finger is primed to hit the trigger on this ASAP. It bounced off that 141.30 area like it was a trampoline.

Thanks for your input.

Originally Posted by skydiver

Thats also how I see it. I would like to see the impact the Asian session has on this but my finger is primed to hit the trigger on this ASAP. It bounced off that 141.30 area like it was a trampoline.

Thanks for your input.

Down? This is how I think it should play out yes.

But it's not what I "see". As I watch the charts, I see Eur/USD hit ST support, I see the risk assets bounce upwards, (I did see Gold rejected at 1130ish, but I saw it bounce off 1110), and I see the 10 and 30 Year bonds peaking at the moment, and maybe starting a correction over this week. I feel this bond market has gotten too high on the yields already, the intermarket connection should drive down US and Japanese currency. We'll see, but I'm not ready to jump into this yet. Need a solid support break for confirmation.

Just found an article that supports this conclusion: http://imarketnews.com/node/9066
Suggests it will be much easier for Bernanke to convince the market the US isn't tightening than vice versa.

Originally Posted by lolygagv2

Down? This is how I think it should play out yes.

But it's not what I "see". As I watch the charts, I see Eur/USD hit ST support, I see the risk assets bounce upwards, (I did see Gold rejected at 1130ish, but I saw it bounce off 1110), and I see the 10 and 30 Year bonds peaking at the moment, and maybe starting a correction over this week. I feel this bond market has gotten too high on the yields already, the intermarket connection should drive down US and Japanese currency. We'll see, but I'm not ready to jump into this yet. Need a solid support break for confirmation.

Thanks for the info.
Interesting how you mention the bond yields are rising, yet you say peaking. Arent they high because of the risk that is around at present and wont nessesarily come back down.
I read somewhere recently that Cooper/Gold awareness (combined) makes a great indicator (Copper for Growth, Gold for Risk aversion) but yet to actualy find a chart that allows me to overlay the two. There seems to be so much profit taking on gold at its present level that I find it difficult to trust on its own.
Thanks for the reply, your thoughts are always appreiciated, you have given me something (else) to think about.
Also sidelined at present, resisting the urge to enter just yet.

Originally Posted by MoneyInc.

Your good Russ the pair was coming off a good upward move when I looked at it.

your good!

Anyone care to speculate on what a Chinese revaluation would do to USDJPY? My first guess would be initially bearish because it would be another "cooling" move by China, thus increasing risk-aversion. I don't know how much it could stick, however; the Chinese are not looking to really slow down, just not overheat.

Originally Posted by skydiver

Thanks for the info.
Interesting how you mention the bond yields are rising, yet you say peaking. Arent they high because of the risk that is around at present and wont nessesarily come back down.
I read somewhere recently that Cooper/Gold awareness (combined) makes a great indicator (Copper for Growth, Gold for Risk aversion) but yet to actualy find a chart that allows me to overlay the two. There seems to be so much profit taking on gold at its present level that I find it difficult to trust on its own.
Thanks for the reply, your thoughts are always appreiciated, you have given me something (else) to think about.
Also sidelined at present, resisting the urge to enter just yet.

Mornig guys...

today number

p - 141378
r1-14191, r2-142239, r3-142772
s1-140845, s2-140516, s3-13998..

guys... i wrote last week about 10day SMA at 14085.. it need to closed that level before it is in longer dwtrend.. if not, we still ranging until it clear to break either side..

i remain my long as long as it above my P, my traget will be at my r1 at 14190.. i will put my PO at above my R2 at 14290 (outside my today channel)..

have a good trading..

Short 141.62. Daily Pivot. This is the price ive been waiting for all day.
Will Target 140.90 with half of them and let the remaining run. Stop 142.50.


ADD: Ive only just noticed Wans post - Im doomed! I hate being in opposite trades to you mate, though im going to hang in there.

Good night to one and all.


ADD2: This has bounced off the upper trend line 1hr - so another good reason to go short. (im not trying to convince my self here ya know)

Shorted at 141.53, S/L 141.83, target 140.83 or breakout of descending triangle.

Let's have fun

Originally Posted by skydiver

Short 141.62. Daily Pivot. This is the price ive been waiting for all day.
Will Target 140.90 with half of them and let the remaining run. Stop 142.50.


ADD: Ive only just noticed Wans post - Im doomed! I hate being in opposite trades to you mate, though im going to hang in there.

Good night to one and all.


ADD2: This has bounced off the upper trend line 1hr - so another good reason to go short. (im not trying to convince my self here ya know)

sky...

i'm also not comfortable with my long (im bear all the time.. ), but my long is from yesterday low.. so i will remain it with lock profit now.. what make me worried in asia open is u/j.. it has big chance to go up now if u see longer TF,

btw.. i just put my PO to go short at mention before or will short manually when have chance..

take care bro.. , dnt worry to much.. just manage ur SL wisely..

Originally Posted by Tankinou

Shorted at 141.53, S/L 141.83, target 140.83 or breakout of descending triangle.

Let's have fun

Glad Im with such good company.

Thanks for the words of encouragement Wan.

After the discount rate increase last week, I mentioned if you are a technical trader, the USDJPY appears bearish with significant resistance over head. The 10 month trend line and 200 SMA are looming up above.

I just noticed the bollinger bands are contracting to a point not seen since Aug 2008 and Nov 2009. Well, guess what happened in Sept/Oct 2008 and Dec/Jan 2010? Yes, significant pip movements on the pair.

In addition to the overhead resistance, we have the 50 SMA just below the price. Bulls and bears appear ready for battle so watch out if you are using tight stops...

Originally Posted by skydiver

Glad Im with such good company.

Thanks for the words of encouragement Wan.

Likewise, don't worry mate, It was looking good and it's looking even better now