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

Scalped 10 pips from Durable Goods/Employment number. The negative jobless data seemed to outweigh the positive durable goods number. I used the break below the 12am S2 Pivot to enter the trade. The daily trend is down and USD/JPY could very well trace lower, but we are in and out nice and quick.

lol just wokeup and saw that my short got entered. Made 120 pips on short but actually made 70 PIPS profit thanks to the 50 pips loss on long. hmm shud hve been more cuatious.

LONG again at 135.90 area to target 137.

im just playing arnd and changing positions if stop hits. already took money out on tuesday. so this is just loose change. lol.

Gregory when scalping are you using Predetermined supports and resistance levels. My question is: Are you using entry orders with limits or are you exucuting the buy or sell manaually.

Originally Posted by MoneyInc.

Gregory when scalping are you using Predetermined supports and resistance levels. My question is: Are you using entry orders with limits or are you exucuting the buy or sell manaually.

I enter manually. However, I have placed an entry order 2 pips below the pre-announcement low or above a pre-announcement high. I usually wait until after the announcement to enter the trade and the extreme point of the announcement is where I would also place an entry order at +2 pips above resistance or -2 pips below support.

Originally Posted by cool_fx

lol just wokeup and saw that my short got entered. Made 120 pips on short but actually made 70 PIPS profit thanks to the 50 pips loss on long. hmm shud hve been more cuatious.

LONG again at 135.90 area to target 137.

im just playing arnd and changing positions if stop hits. already took money out on tuesday. so this is just loose change. lol.

Im keeping my shorts open and dont laugh im targeting 132.40. Might as well just turn the indicators off and let momentum do the work.

One more little bit of bad news and this will go pop - one bit of good news and not much will happen here.

Every one seems to of made some pips this week, long may it last.
Good luck all.

Tonight we will have lot of news from Japan.
Will it change the market? Or by good news will it go down?

Originally Posted by fari

Tonight we will have lot of news from Japan.
Will it change the market? Or by good news will it go down?

What ever the news it looks like the market are pricing it all in now.

Dont un-cross those fingers Mike. w

Originally Posted by skydiver

Im keeping my shorts open and dont laugh im targeting 132.40. Might as well just turn the indicators off and let momentum do the work.

One more little bit of bad news and this will go pop - one bit of good news and not much will happen here.

Every one seems to of made some pips this week, long may it last.
Good luck all.

yes bro. im also short now. lol i guess im also targettin the same thing now. its breaking new lows all time.

Originally Posted by Mike in Japan

Speaking to someone in the banking sector yesterday, and his prediction is USD/JPY will go to 75.xx..

It's not impossible at all - it has happened before and it can happen again. The coded message here from Obama is "we need to increase exports" and this means two things: de-valuated dollar and perhaps Yuan floating more freely - good bye to cheap Chinese imports.

Thankyou sir thats rather easy to do. I will do that next time....WAIT.... it just hit me can I use this technique on every announcement and every pair. Cool Your the Man!!!

Originally Posted by MoneyInc.

Thankyou sir thats rather easy to do. I will do that next time....WAIT.... it just hit me can I use this technique on every announcement and every pair. Cool Your the Man!!!

You are very welcome! Wait a couple of minutes until after the announcement to get the high spike or the low spike to let the crowd get sucked in first then look to enter a breakout above or below that range.

Originally Posted by keforex

It's not impossible at all - it has happened before and it can happen again. The coded message here from Obama is "we need to increase exports" and this means two things: de-valuated dollar and perhaps Yuan floating more freely - good bye to cheap Chinese imports.

Thats also how im interpreting it. The yen is going to strenthen.

Though the uk is not in the Euro zone they have a lot of vested interest there. There is no way the uk can escape the impact that the PIG countries are having on the Euro - so that risk is going to weaken GBP and strenthen the yen. Seems to all be happening very quickly.

Originally Posted by MoneyManager

I have to apologize in advance, but dark-background charts are just about impossible for me to understand. These old eyes like DARK TEXT on LIGHT BACKGROUNDS.

BTW, there have been many studies done about this, and people who use dark backgrounds make MORE mistakes (yeah, they screw up more) than people who use dark text on LIGHT BACKGROUNDS. I kid you not. GOOGLE it.

And yeah, I didn't see any post about 90.60 either way. Such is life. I have been very clear. No one is being mislead by my posts or doesn't know where I am going. It's a good standard to aspire to. ^^_^^

Edit: Think I'm kidding about color? You see Sean's charts. You see other moderator's charts. They are BRIGHT backgrounds with dark text. IMHO, dark background is for amateurs. But that is just my opinion.

I know you're not kidding. Converted my backgrounds to white months back, massive performance to my account. Never really put it down to backgrd colour but now that i read this ...im beginning to wonder...

Pivot: 136.9
preference: Short positions below 136.9 with targets @ 134.9 & 133.8 in extension.

Alternative scenario: Above 136.9 look for further upside with 138.25 & 138.75 as targets.

Comment: the RSI is capped by a bearish trend line.

Hi guys, I had a bad feeling so I close my long at 137.25 for 20 pips profit before going to sleep . Seems what I feared has happened, wainting to put a Long when it hit 135 again maybe with the big news ahead.

Take care