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

Originally Posted by cool_fx

i just shrorted a big lot at 144.30 this is R2.

what is your risk on this big lot?

sorry, with cool on this one.... we can't expect to go skyrocketing just yet.... i am not biased with my shorts but this is going lower from here... to 143 area and then higher again....

this is the FIBO resistance here...

Originally Posted by travelin' man

I went long at 144.17, just moved my S/L to 144.07, will move it to BE if this goes up a few more pips... TP will be conservative at 144.7 unless I get back here to move it. Unless I can get my blackberry to connect properly :-(

Hi Travelin man, with our small stops your target might be more realistic than mine. Im wondering now how long it can stay in this overbought territory on the hourly before some pull down. This resistance @ 144.30 is holding so far.

Ok, goes like this. I've been watching various charts, and GBP is going long against them. This will 100% keep GBP in a good relative position. Really, once us Brits get sorted out, historically speaking GBP is cheap everywhere.

Now, my chart JPY/USD. Sean will prolly moan, but I've got it, and it tells me when to long and short USD/JPY. Otherwise you're always looking from the bottom up (USD/JPY), and it don't always work.

Chart JPY/USD about to crash like chart EUR/USD. Unfortunately us Brits have to abide with our neighbour's currency. Although we just keep getting stronger against it.

Now. Chart JPY/USD shows me one thing. USD/JPY will go back to above 130.00. Chart USD/JPY has already broken the daily MAE200. Chart JPY/USD is in complete downtrend. MAE200, MAE50 etc are all pointing down, with a bullish monthly MACD against any further rise.

So, take the scenario that EUR becomes 1 USD, and GBP hovers around 15 to 20% more than Euro. A high probability

Just my thoughts.in this case.

So, this brings us to the reason EUR/JPY has not crashed, as USD/JPY will 'catch up' with it. I don't care what Libour rate etc is, news is or whatever. Jpy can never make the highs it did against USD in the past. Which is good news for USD bulls like me. I've heard people say 'how can USD/JPY sit6 on 93.00, well, they don't have chart JPY/USD lol.

Take the scenario that EUR/JPY gets back to 130.00 Easy in time, stays well above 120.00. Where does that leave us with our Dragon??? Plus 15 to 20% at least more than 130.00

just my thoughts. Anyone for 150??

tigger, u are talking long term, i say 170 by end of year... but these are pure speculations !!! ... cannot tell right now... if there is no double dip recession... 170... if there is...then under 118... simple...

anyways... in the meanwhile... i can't believe that i misscounted the Fibo all this time... 143.4 is the last line up... and according to the FIBO... 135.3 is next... well i Doubt that... but let's keep an opened mind here... and again TOMORROW... let's think over it properly... why would this go higher???... WHY LOWER????... the GDP is expected to be worse than last quarter... UK dissapointed... US might too... so... we could go lower, rally a bit before the news and then lower again... 141.2 still need to be touched before another move higher....

MY conslusion is to be open minded... right now... I am Bearish according to the FIBO and the next target should be 143.35, 142.6 and 141.8

we might finally get the inverted hammer on the 1H chart... in 7 minutes

Originally Posted by mihaia2002

tigger, u are talking long term, i say 170 by end of year... but these are pure speculations !!! ... cannot tell right now... if there is no double dip recession... 170... if there is...then under 118... simple...

anyways... in the meanwhile... i can't believe that i misscounted the Fibo all this time... 143.4 is the last line up... and according to the FIBO... 135.3 is next... well i Doubt that... but let's keep an opened mind here... and again TOMORROW... let's think over it properly... why would this go higher???... WHY LOWER????... the GDP is expected to be worse than last quarter... UK dissapointed... US might too... so... we could go lower, rally a bit before the news and then lower again... 141.2 still need to be touched before another move higher....

MY conslusion is to be open minded... right now... I am Bearish according to the FIBO and the next target should be 143.35, 142.6 and 141.8

This is Forex Mihaia. Anything can happen as you know. For now, there is some bearish divergence 4 hour chart, MACD and RSI. But as we all know, prior to bearish divergence taking place, prices tend to go higher, so market can benefit the most.

I'm not going short here. The cross is soo strong for the loong, all shorts will get wiped out IMHO. I see 150.00. Soon. I don't know once this gets started where this chart is going. It won't go to the ground. GBP is much better than EUR. If price finally sits above MAE 200 based on downtrend of Yen against most currencies, price will rise like the clappers. look at monthly MACD and weekly. This chart is for sure going down IMO. In favour of GBP. Don't worry, we won't lose OUR credit rating so easily like the PIGS. Chart shows price at 144.30. In the time of writing price is 144.185.

Also that GBP is going long for example against AUD/CAD/NZD/EUR etc to ensure comparitive position with USD. It is 100% a bull bear trap. Been watching it all day. Best trades for me today was new long GBP/CHF. Tried shorting it last week. Price just did not want to go down. Had my shorts bounce around like crazy all day, so figured I'd go long (again, was already due to Joel Kruger's call). The long GBP/SGD (Sing Dollar. Price refuses to break 2.000. Mind you, Singapore is really an old colony of ours. Not like EUR/SGD roflmao.

Tigger, sorry...but with some many traders being new here...I'm not going to have them further confused just because you want to turn a pairing into something that doesn't really exist.

It's hard enough for newer traders to learn how to trade USD/JPY without you making it out like there's something mysteriously to be gained by attempting to make a reverse pair that doesn't even exist in forex and is not truly tradeable.

You can refer to USD/JPY and you can post charts of USD/JPY. That's no prob. But I'm not going to encourage confusion.

Originally Posted by mihaia2002

we might finally get the inverted hammer on the 1H chart... in 7 minutes

looks like this stupid pair is glued to the wall. its oscillating in 10 pips zone in the 144.10 area.

i wish to see it drop like a hot potato.

lol

Originally Posted by cool_fx

looks like this stupid pair is glued to the wall. its oscillating in 10 pips zone in the 144.10 area.

i wish to see it drop like a hot potato.

lol

Haha I agree Cool would love to see a nice little drop, but I feel like the longer is holds within this 15 pip range the better a chance for a pop higher. Nothing technical just my 2 cents.

took my losses... what a shame... anyways... will be back in the morning

Almost at my shorting area. Again, looking for 150.40 - 60. looks like it might take one more day or early next week to reach but hey, this is GJ it could make that jump without a sweat.

Originally Posted by cool_fx

looks like this stupid pair is glued to the wall. its oscillating in 10 pips zone in the 144.10 area.

i wish to see it drop like a hot potato.

lol

FIRST IT WILL SWEEP THE ALL SORT

Originally Posted by CodyB

what is your risk on this big lot?

Sorry i dnt give details abt the money i invest but its a big one ;-)

Originally Posted by cool_fx

Sorry i dnt give details abt the money i invest but its a big one ;-)

Wait for Asian session and then it all starts. Then see where it's going Bro'. You for sure do not want to leave big money stuck on a financial chart not going your way. Note how Cable now sits virtually unmoving. Look in the USD/JPY room. Sean posted a good chart. USD/JPY will take off huge next 48 hours.