usdjpy trade boring me to tears

Discussion in 'Forex' started by milktruck, Apr 1, 2009.

  1. what an area of resistance were up against here. I feel like the yen has gotten too much credit as a currency of safety and we have had some seriously bad numbers out of japan. maybe we could recognize this by smashing 100 tonight? its like an octuple top, wtf.

    I'm long, not very tho since its more of a fundamental hunch. probably getting stopped out at 97.9 once I post this lol. we get over 100 I'm adding some on tho.

    any opinions? I've got too much time on my hands this evening.
  2. something better happen by nfp. eh, its a small position I may just let it ride. probably should have waited for the breakout but I had nothing on and nothing to do today.
  3. Why would you be long USD/JPY? It was not able to pierce 100.00 the last 5 tries. Which means the market does not want it at 100.
  4. idle hands I guess. that's why I'm trading microlots.

    it sure jumps back into this range from below as well though. the markets been throwing a lot of sells at it up in the 99 handle, maybe they're out of bullets.
  5. normally my style would be to sell key resistance and stop reverse if its broken. not sure why I decided to be a gunslinger today.
  6. Look like North Korean is going ahead to lunch its missile/satellite on schedule. Wow, this is kind interesting for people think Yen as a safe heaven.

    When oil is above 100, there were too many "revolutionary armies" bombing oil pipeline or hijacking oil workers, now, we don't hear it anymore. :D
  7. Honestly it is a crazy pattern and I don't want to touch it right now.
  8. yen is always doin some crazy shit!
  9. USD/JPY blows. Usually when I am trading the way a particular currency is going to move is decided by 10pm ET time. This was taken at 11:44pm and still nothing. This is beyond demented.
  10. Are EUR/JPY and USD/JPY correlated in any way? EUR/JPY has been showing weakness the past few days. I think there is a chance that USD/JPY will not breach 100 if these two are indeed correlated.
    #10     Apr 2, 2009