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

12:31 CAN ECON: GDP by Industry +0.3% in Feb, Dead On Expectations Boston,
April 30

12:31 US ECON: Q1 Employment Cost Index Up 0.6% Boston, April 30. The BLS
reported this morning that the Q1 Employment Cost Index rose 0.6%. Economists
had expected it to rise 0.5%

12:31 CAN ECON: IPPI -0.4% (Exp 0.1), RMPI +0.8% (Exp 1.0) in Feb

Originally Posted by 4xer

Wow! Look at the market move. Whats the deal!

Yeah, looks like the possibility of a better figure was priced in. Down now.

Originally Posted by skydiver

Yeah, looks like the possibility of a better figure was priced in. Down now.

Yea I agree. The deciding factor will be how does the stock market react to it.

ALso we have Michigan out later. Last month that is what made the GJ move.

Originally Posted by 4xer

Yea I agree. The deciding factor will be how does the stock market react to it.

ALso we have Michigan out later. Last month that is what made the GJ move.

im on the sidelines for now just made back the 45 pips i lost last night

12:35 US ECON: Adv Q1 GDP Up 3.2% Vs 3.4% Consensus, Core Up 0.6% Washington,
April 30. US GDP rose at annualized rate of 3.2% in the first quarter of 2010,
preliminary setting the platform for the third consecutive quarter of growth,
the Commerce Department reported today. Economists had expected GDP to increase
by 3.4% for the Q1's advanced estimate. Final revisions to Q4's economic
activity of 2009 indicated a 5.6% growth rate.
The smaller gain for the first estimate of economic growth in Q1 (compared
to Q4) was comprised of advances in consumer spending offset by decelerations in
investments and trade.
Coming off of its largest growth rate since Q1 of 1984, total private
domestic investment increased by just 14.1% in the first quarter of 2010 (was
46.1% for Q4). This resulted in a contribution of 1.67 percentage points (pp)to
GDP. Within fixed investments (rising only 0.7% after a 5.0% gain in the prior
quarter), money spent on equipment and software fell from a gain of 19.0% to one
of 13.4%. Nonresidential investments (rising 4.1% over the quarter) added
0.38pp to GDP, whereas residential investments subtracted 0.29pp after falling
10.9% in Q1.
Net exports of goods and services ate 0.61 pp away from GDP, after exports
rose roughly a quarter of its growth from Q4 of 2009 (current 5.8% gain vs.
22.8%) and imports rose 8.9%. Correspondingly, the 0.66pp contribution from
exports was washed by the 1.28pp imports subtracted from GDP. Exports of goods
dipped over the month, rising 6.7% (had risen 34.1%) and imports of services
rose into positive territory, from a decline of 1.9% to a gain of 8.7%.
Consumer spending was the only component of GDP whose growth for the first
quarter of this year was larger than its growth in Q4 of 2009. Rising by 3.6%,
consumer spending added 2.55pp to GDP. This is personal consumption
expenditure's largest growth since the first quarter of 2007 and its largest
contribution since the fourth quarter of 2006. Money spent on goods and
services contributed to spending's performance, rising by 6.2% and 1.4%
respectively. Within goods, consumption of durables jumped from a 0.4% gain to
a gain of 11.3%, adding 0.79pp to GDP. Spending on services added 1.15pp to GDP
after last quarter's contribution of 0.49pp.
Government spending and investments fell by 1.8% in Q1 -- the second
consecutive decline having fallen by 1.3% in Q4. This decline resulted in a
reduction of 0.37pp from GDP.
Final sales of domestic goods grew 1.6% over the quarter.
The core PCE index, a measure of inflation, rose 0.6%, as expected, after
rising 1.8% for Q4.

Originally Posted by 4xer

Yea I agree. The deciding factor will be how does the stock market react to it.

ALso we have Michigan out later. Last month that is what made the GJ move.

Yes i remember that day. We spent our time concentrating on the gdp and Michigan crept up behind us.

from looking at only the charts i think we are heading up

My short got activated at 145. And I intend of keeping my shorts, all from 145. SL at breakeven just in case confidence news in an hour would spike things up! I'm sticking to what Wan and Brad are saying regarding the downtrend line for this pair. Short-term trend is definitely bullish IMO.

If candle breaks and closes below 144.2, then I might consider in the change in direction for this pair (towards the south). Until then bias is still up north.

Lets see and complete this week on a high note!

Remaining LONG... -9 pips now... keeping strong... had quite some profit this week, and i am willing to give some back if it goes against me

Originally Posted by mihaia2002

Remaining LONG... -9 pips now... keeping strong... had quite some profit this week, and i am willing to give some back if it goes against me

i went long also 144.40
stopped out 143.95 -45

with who criterion you enter now long? in the diagram the 15 m has broken the ascendant line


144,30 in the region of support perhaps

if this area holds we should see 146.00 today. What do you guys think

Originally Posted by chckchck

if this area holds we should see 146.00 today. What do you guys think

little difficult this daily for days sells looked at also the weekly candle

Originally Posted by chckchck

if this area holds we should see 146.00 today. What do you guys think

easier they is you see region 143,70 80 today last day of month and Friday

maybe 143,30

Originally Posted by mag35

with who criterion you enter now long? in the diagram the 15 m has broken the ascendant line


144,30 in the region of support perhaps

i went long there bc ther wasn't any pull back on the move yesterday so i was thinking there may be a shallow pull back from the 78 fib to around 144.10 144.40