# EUR/JPY



## Kauri (19 September 2007)

Looks to be interesting for a possible short.... 
 Cheers
.........Kauri


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## tayser (29 September 2007)

My favourite scalping pair.







(using LinuxTroll's scalping method, see ForexFactory)


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## reece55 (22 October 2007)

Anyone trading this pair today or last week???? I have been shorting it recently, talk about capitulation today, 250 pip loss today, of which the majority has come in the last 3.5 hours. Looks like the yen is back in fashion........ Watch the unwinding of the carry trade.....

Cheers
Reece


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## >Apocalypto< (22 October 2007)

reece55 said:


> Anyone trading this pair today or last week???? I have been shorting it recently, talk about capitulation today, 250 pip loss today, of which the majority has come in the last 3.5 hours. Looks like the yen is back in fashion........ Watch the unwinding of the carry trade.....
> 
> Cheers
> Reece




Hi ya Reece,

I am short on the aud/usd long on the usd/chf

yeh there is a massive shift out of the euro against usd and the yen.



Mate the euro was up 6 at 4.30 in the afternoon come London open and its game on! thing really fell hard in the last two hours frighting i bet the scalpers are having a damed feast!

Got to love the FX supermarket!

I don't trade the euro/yen on IG as the spread is a little two wide for safe M$M$.

I think right now there is a massive flight into safer options.


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## reece55 (22 October 2007)

Trade_It said:


> Hi ya Reece,
> 
> I am short on the aud/usd long on the usd/chf
> 
> ...




Hi Jo
Yeah, I only realised how far things had shifted at the London open, because when I reviewed everything at 4.30 pm SYD, everything was looking fine (well, relatively ok). It doesn't surprise me the EUR/USD is down significantly - the pair has run up so much lately and the bearish comments are flowing everywhere, it was bound to retrace a little bit.... Plus the 15 minute chart was beginning to show lower lows and lower highs - the 1.43 level will prove to be fairly heavy resistance now I would have thought.

Your x2 trades are looking nice - what's your target on the AUD/USD?

Cheers mate
Reece


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## tayser (23 October 2007)

Trade_It said:


> Mate the euro was up 6 at 4.30 in the afternoon come London open and its game on! thing really fell hard in the last two hours frighting i bet the scalpers are having a damed feast!




tee hee


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## reece55 (2 November 2007)

Potential attractive entry here on the EUR/JPY as a short......

Not quite sure how to export my chart out of my new Metatrader package, but using Fibo, we have retraced about 61.8% of last nights mighty move down..... I'm targeting 164.35 - 164.40........

Cheers


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## reece55 (2 November 2007)

The pair has yielded 50 pips so far, taken some profits in my short, .....

Anyone else trading the Yen pairs tonight?????

Cheers


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## reece55 (3 November 2007)

OK, slight backfire here..... glad I took my profits early, closed balance out once the quick move took place......

Volatile times here on the forex express......

Cheers


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## reece55 (12 November 2007)

Well, looks to me like those August lows could well be retested here.....

This pair is under extreme pressure at the moment and has now pierced through 160.46, the low back on 22nd..... 

Would like to see a small bounce, but short is looking very sweet here....

Cheers


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## ithatheekret (12 November 2007)

Been both ways on this baby all day , marvellous action , still short bias , currently , but after the mammoth action so far ...... 159.48 for me .... stunned , need a cuppa to regroup after that . Expecting a decent bounce back from there .


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## ithatheekret (12 November 2007)

Bounce in smoko ........ took up @ 160.15 peakish area for reversal


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## ithatheekret (12 November 2007)

I achieved 159.0something haven't check yet , but the balance went up promptly , that was sufficient checking . But I feel like I just played 18 holes over two dead cat bounces ............... and I reckon below 158 will be tested yet too. Long way down todays shaft .


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## ithatheekret (13 November 2007)

Terriffic bounce after hitting 158.80's .

The French Boss will be upset at todays action .


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## ithatheekret (16 November 2007)

They're testing all levels on the cross today  

Parachutes and helmets stuff


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## ithatheekret (16 November 2007)

Approaching the 161.50 shakeup zone after a big seesaw .


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## ithatheekret (16 November 2007)

There goes the fuse , remain seated , for the flight ..... ejection button ready
 crikey 161.5 already .


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## ithatheekret (16 November 2007)

That made it to 161.70 before turbulence . Note that spot .

I think it's a beaut trading cross . The volatility is everywhere , but there are distinct signs of textbook trading all over it's chart and a few footprints in the snow , not all elk and deer either . @ 161.27 , the gloves were taken off and the battle for 161.50 started . eachway bets from there as 161.7 is it suppose to be a barrier from hell , more so than 161.9 , that's where the indicators come in handy . 161.3 looks like a desired spot , that makes me wary . But go long and short , currently long off last trough .

Scalping all the way looks the go , averaging around 30 pips , but it's not a set and forget position , better to man the stations .........

But one can see why money traders are so ......... so , with all the movement . That's what really counts , it's moving .   , just leave your emotions in the desk drawer take out the charts , squizzy the indicators and get a feel for it then ............  press buttons . 

......... the time it took me to write this , was a twenty pip swing , with trades 161.7 to 161.5 and 161.5 to 161.70 . ( 161.75 again ) After that we see what is going to disturb the market , and remember that there is a high correlation between the equity markets and the EUR/JPY cross .


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## ithatheekret (16 November 2007)

Now there's volatility for ya .

thef irst wave 161.7's all the way to a 161.15 overshoot , now tussling at 160.05 , will be breached . 

... and talk about having to run down the platform to catch a train , can this thing move . With the supports and barriers being slogged out , with a few boots being thrown in . Yep it's going to breach below 160.


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## ithatheekret (19 November 2007)

Jumped back in short on the EUR/JPY , could seek out 160.5


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## ithatheekret (20 November 2007)

I wish I'd bought it back , took off nicely . Got enthralled with a 109 USD/JPY and went short the Yen .


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## ithatheekret (20 November 2007)

Looks like a brawl is developing @ 161.95 . after stepping on 162's toes


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## ithatheekret (20 November 2007)

Cwarrr ........ wrap ya Ichimoku round that . 

162.2 with trailers 

I retract what I said about the EUR & USD tandem & the EUR/JPY .

It's an animal .


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## ithatheekret (20 November 2007)

Yesterday it stalled @ 163.05 made it 163.10 so far and retreated , my indicators went positive though ......... fingers and legs crossed for this add on .


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## ithatheekret (20 November 2007)

and a reversal ........ great swing trade stuff .

Must make a lot of people happy and scare the willies out of the rest  

162.438 

ignoring first stumble @ 162.5 before reversing


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## >Apocalypto< (20 November 2007)

ithatheekret said:


> and a reversal ........ great swing trade stuff .
> 
> Must make a lot of people happy and scare the willies out of the rest
> 
> ...




EUR/JPY and it's cousin AUD/JPY are a scalpers best friend!

Personally I love the EUR/JPY, scalping heaven!!


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## ithatheekret (20 November 2007)

tempting fate with a 162.391 reversal

I like you already Trade it .


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## ithatheekret (20 November 2007)

We could save millions , probably billions if we stop unemployment payments and issued forex accounts instead , a slight credit , a technical book and a blessing from the Archbishop .


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## ithatheekret (20 November 2007)

knocking on 163's door looking for structure above 163.20


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## ithatheekret (20 November 2007)

163.05 ..... it's like bouncing off a glass door . must be a lot of set and forgets to get through 

4th attempt coming up watch out for glass


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## hangseng (20 November 2007)

ithatheekret said:


> 163.05 ..... it's like bouncing off a glass door . must be a lot of set and forgets to get through
> 
> 4th attempt coming up watch out for glass




9th attempt on the 30min since 16/11

Could be knock, knock, knockin on heavens door 

16350 then capitulate


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## ithatheekret (20 November 2007)

hangseng said:


> 9th attempt on the 30min since 16/11
> 
> Could be knock, knock, knockin on heavens door
> 
> 16350 then capitulate





Capitulate ......... one of my favourite words  


Touch of glass from just under the 163.2 yup I see some clouds parting hangseng


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## ithatheekret (20 November 2007)

nope my trailer just got hit .

have to reset now


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## hangseng (20 November 2007)

ithatheekret said:


> nope my trailer just got hit .
> 
> have to reset now




capitulate soon


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## ithatheekret (20 November 2007)

I missed those swings completely sitting on the fence now 

coffee called and I was tight


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## reece55 (20 November 2007)

Whilst I'm bearish long term, the break of the 200 MA that has proved to be resistance in the past puts me in a bullish mood with the pair (have a look at the 1 hr)......... I would have thought we will now see a retrace back to 162.40, then I would look for a long to possibly test 164.50 before shorting back down again.........

Just my view though....... But if you are short in the pair at present, you would want to be quick in taking profit....

Cheers


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## hangseng (21 November 2007)

reece55 said:


> Whilst I'm bearish long term, the break of the 200 MA that has proved to be resistance in the past puts me in a bullish mood with the pair (have a look at the 1 hr)......... I would have thought we will now see a retrace back to 162.40, then I would look for a long to possibly test 164.50 before shorting back down again.........
> 
> Just my view though....... But if you are short in the pair at present, you would want to be quick in taking profit....
> 
> Cheers




16350-16400 spike on dow open then down again to 16060. 16350 looks to be the test, my call anyway 

Maybe a sell at limit 16400 (or as you say 16450) provides appropriate risk/reward, but maybe too high and miss the swing lower.

Love to watch but time for bed.


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## ithatheekret (21 November 2007)

reece55 said:


> Whilst I'm bearish long term, the break of the 200 MA that has proved to be resistance in the past puts me in a bullish mood with the pair (have a look at the 1 hr)......... I would have thought we will now see a retrace back to 162.40, then I would look for a long to possibly test 164.50 before shorting back down again.........
> 
> Just my view though....... But if you are short in the pair at present, you would want to be quick in taking profit....
> 
> Cheers




Good call Reece just jumped in fractionally early and there was 162.4's looking at me .


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## ithatheekret (21 November 2007)

162.3's too  ....  don't blink too soon , haven't seen Yen strength like this for eons , bar the last few days of course .


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## ithatheekret (21 November 2007)

Okay 162.253 .


Looked at a few US banks and other financials and boy have they copped it tonight , enough so that they are starting to look reasonably cheap .


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## ithatheekret (21 November 2007)

Just closed the first entry with profits and now riding a 162.214 , gives me more scope for further dips ahead of a higher move or an immediate reversal without maxing the margin out again


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## ithatheekret (21 November 2007)

These peaks and troughs ( looking at the 30 sec ) are nice 50pippers .

Great swingers , ( you on 'em Trade It ? ) just under 2 cents in a small time frame .

PS.. thanks for the eyes up Reece , had just arisen from my nanny nap .


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## ithatheekret (21 November 2007)

holding three possies now 162.214 , 162.175 and a minute ago 162.419 , as all my indicators semaphored pulling the trigger again .


must stay awake now


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## ithatheekret (21 November 2007)

keeps challenging my last entry , wish it would hurry up and get it sorted .

I want to go and get some US banks .


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## >Apocalypto< (21 November 2007)

ithatheekret said:


> ( you on 'em Trade It ? )




ithatheekret,

I was not in very much last night. I took 5 scalps 4/5 win/loss. I only scalp from 6pm - 9pm latest but if i reach 10-15 pips i wrap it up for the day.


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## ithatheekret (21 November 2007)

I've had a late start today , noting the 160.4's looked in at already and I think at this juncture it will be restested again .

Banging around @ 161 .60 about 100 pips off the last resistance point .

retest of 160.4's would also mean that the 50% fib @ 158.5 is on the card with 156.3 just below that as the closest support in that area I can find .

that set of topping moves failed , so the high 163's .80/90 are the brick wall to the road to 167 heaven .........

an attempt of reversal would also have to pass the 161.8/9 ..... area a bit of pressure there too .


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## ithatheekret (21 November 2007)

trying to move into 161.20 now , but this would have to mean that the USD/JPY could see in 108's again today , amazing Yen strength , I hope the soph. hswives are having fun with all the strength in their currency .

I was speaking to a broker earlier today and he mentioned 102 on the Yen .

BoJ wouldn't like that .


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## reece55 (21 November 2007)

Well, it didn't stay above the 200 MA for very long, did it......

EUR/JPY is out of bounds again, but thats nothing new lately......

Interesting juncture tonight here, once again the inverse correlation to equity markets clearly illustrated...... 160.60 - 161 has proved a good buying area lately, so it will be interesting to see where we go from here.... I would favour a quick long scalp for a few pips with a tight stop, for those short congrats.....

Cheers


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## ithatheekret (21 November 2007)

I put my money where my mouth was Reece , had to after posting it .

Saw the 161.9 area  hit ,  had entry ready . picked the new puupy up and it was 162. went to get that and only managed a market @ 161.869 , tacked on two more @ 161.606 & 161.061 ( risky one   ) 

If it actually hits 156 expect a massive bounce .


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## reece55 (21 November 2007)

ithatheekret said:


> I put my money where my mouth was Reece , had to after posting it .
> 
> Saw the 161.9 area  hit ,  had entry ready . picked the new puupy up and it was 162. went to get that and only managed a market @ 161.869 , tacked on two more @ 161.606 & 161.061 ( risky one   )
> 
> If it actually hits 156 expect a massive bounce .




Are you long mate??????? Couldn't quite determine from your posts....

I got in at 160.60, closed out for a quick 20 pips....... MMmmmmm... this pair is fun....

Cheers


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## ithatheekret (21 November 2007)

160.093 too 


Short cobber

just in case layperson traders are reading this : currently short the Euro , long the JPY


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## ithatheekret (21 November 2007)

160.40 retest area


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## reece55 (21 November 2007)

ithatheekret said:


> 160.093 too
> 
> 
> Short cobber
> ...




Glad I was after quick pips, 159 here we come.......... The yen is being bought back at a fierce rate...... Good going mate......

Those poor Japanese housewives couldn't maintain the unwinding of every hedge fund in the world......

Cheers


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## ithatheekret (21 November 2007)

They've got it tough I reckon mate .

160.525 says my indi's for another button press .


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## ithatheekret (21 November 2007)

little scalp there , don't trust em all the time vision is better and the chart looks like it needs a nice spike to 160.662 to short the pants out of


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## ithatheekret (21 November 2007)

Yeah , speaking of those hswives Reece , all the growth in Japan has mainly been centred around Tokyo , and the infrastructure in regional areas is pitiful , bit like our roads . I bet the Japanese would prefer a government that went on an infrsatructure spending program . That's where all the marvellous numbers came from , at a cost to many families .


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## ithatheekret (22 November 2007)

reversal after quite a few bounces off 160.40's , could be interesting with a sell off starting equities wise .


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## ithatheekret (22 November 2007)

Good swings tonight , sell off in equities .


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## Kauri (22 November 2007)

ithatheekret said:


> Good swings tonight , sell off in equities .




Might be an interesting night.. what with the US shutting down for the Thanksgiving very long weekend and Japan closing for friday... may be some big swings squaring up and covering... and probably magnified by lower volume???
Cheers
........Kauri


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## ithatheekret (23 November 2007)

Oh Kauri you should see this cross moving today , trying to hit 160'4's again , that might open up those 159 gates , what with all this Yen strength .
Each time I look at the Yen I shudder , daughters going over again , as she teaches the language now ,  the holiday/educational jaunt looks to be getting more expensive by the second .

Skippy needs to let ol' man Emu drive  or we'll breach .873 again


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## ithatheekret (23 November 2007)

Well , we picked the lock on the 159 gates


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## ithatheekret (23 November 2007)

I wonder if we can make it to the 50% fib @ 158.5  , that could open up the door to 156's , had an auto destruck @ 159.988 on the bigun' , got a wee  pozzi still goin' ... wee


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## ithatheekret (24 November 2007)

Lot of resistance getting through 159.9's , meeting more around 159.7's , but I think they'll give way to 159.5's ......... they may take us back to 159.8's first , but capitulation could be forced at 159.65 . banging around that area to the 70's could be constructive enough to wean all the buyers out or the complete reverse .


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## ithatheekret (8 December 2007)

You should check out the MA lines on this cross , everything .... but my Ichi says sell and this cross has soared .

Simple not simpler is the answer it seems ..............


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## ithatheekret (8 December 2007)

Could I impose on some of the more computer literate techies , for a EUR/JPY cross chart , with the 21MA / 89MA and the 200MA .

My short term MA focus area first is the 21MA that crossed under the 200MA @161.89/90ish and 162.03ish respectively .

But the 89MA @ 161.72/3 ish is also a look in to see if the 21MA crossed under that .

I was too enthused in the market going up in total ignorance to these crosses that I hopped on the tram and followed my Ichimoku Kinko which said it was bullish . But I closed pozzies that were splendidly in the 163's when they were suppose to make a lower move to the downside given the MA crosses , which I forget the technical term for . dead man walking or dead something , and is reknown to be a bearish signal .

I should add I change my Ichi settings on my own calculated inputs , which vary to take in account for market conditions in motion .

If someone posts the crosses chart with the MA settings stated above , I would appreciate it immensely  .


Thankyou


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## ithatheekret (11 December 2007)

I wonder if this cross is trying desperately to move towards the 167 area a cotery of traders have been calling .

It's done some weird and wonderfuls lately ............


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## Kauri (26 January 2008)

down down, deeper and down... please..  
Cheers
...........Kauri


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## Kauri (22 August 2008)

Couldn't find an existing tread for this pair??

   Interesting little congestion, but is anchored on a lot of recent resistance.. will watch this one rather than trade... at the moment anyways..
Cheers
...........Kauri


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## Wealth Wizard (28 August 2008)

making a run for it


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## Kauri (28 August 2008)

Wealth Wizard said:


> making a run for it




More month end Toushin Issues could aid support short term, but 70bln worth of EU bond redemptions for the first 2 weeks of September is likely to prove supportive for JPY. Option expiries at 161.00 today and in USD/JPY there are USD 200mln at 109.50"s for today"s 10am New York cut.

  Gotta ask... these two are triangles???  

Cheers
...........Kauri


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## caribean (29 August 2008)

Gotta ask... these two are triangles???  
 
Cheers
...........Kauri[/QUOTE said:
			
		

> I don't think so Kauri........buuuut, that would be placing unnecessary rules, regulations, or red tape, on your artistic creativity, or poetic license...."that will not do" (Pink Floyd, The Trial),
> don't think much of unnecessary beaurocracy.....no, i haven't had too much break fluid


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## rossw (29 August 2008)

kauri, where do you get your info about currency options?


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## tayser (5 September 2008)

nice move after NY Close this morning...


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## Kauri (1 October 2008)

Have taken a speccie... looking to run down to the base of the coily... initially...
Cheers
..........Kauri


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## Kauri (1 October 2008)

*Re: EURJPY*



Kauri said:


> Have taken a speccie... looking to run down to the base of the coily... initially...
> Cheers
> ..........Kauri





T/A or F/A... ??  
..Coily developing..
.....ADP only 8000 against 60000 expected..
........French deny an Irish initiative for banks..

Cheers
............Kauri


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## Kauri (1 October 2008)

*Re: EURJPY*

now to see if the coily is sprung..
  I kinda like the feel of 147..   

Cheers
............Kauri


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## Kauri (1 October 2008)

*Re: EURJPY*

Out.. for the times being... will watch for another (low-risk?? ) setup.. 

Cheers
...........Kauri


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## Kauri (1 October 2008)

*Re: EURJPY*



Kauri said:


> Out.. for the times being... will watch for another (low-risk?? ) setup..
> 
> Cheers
> ...........Kauri




found a pattern on the coilies that I call a strangulated hernia.... so am back in the fray.. ( the Ruskies are/have dumped around 5bn of EURUSD so far... it helps )

Cheers
..........Kauri


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## Kauri (2 October 2008)

*Re: EURJPY*



Kauri said:


> now to see if the coily is sprung..
> *I kinda like the feel of 147*..
> 
> Cheers
> ............Kauri






Kauri said:


> found a pattern on the coilies that I call a strangulated hernia.... so am back in the fray.. ( the Ruskies are/have dumped around 5bn of EURUSD so far... it helps )
> 
> Cheers
> ..........Kauri




  Despite the cold hands and cough, hernias can be good...

Cheers
...........Kauri


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## Kauri (2 October 2008)

*Re: EURJPY*

and that one is closed... and now the scratcher beckons....
Cheers
..............Kauri


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## tayser (2 October 2008)

*Re: EURJPY*

nice


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## Kauri (2 October 2008)

*Re: EURJPY*

too busy elsewhere and missed this one... next time maybe..   

Cheers
..........Kauri


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## IFocus (2 October 2008)

*Re: EURJPY*

How good are the moves on the 5 min



.


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## tayser (2 October 2008)

*Re: EURJPY*

^ the one second's sitting pretty too 

http://thehoddlegrid.net/dump/EURJPY2_10_2008.png


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## BentRod (3 October 2008)

*Re: EURJPY*

EURJPY 5m.


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## jonojpsg (6 October 2008)

*Re: EURJPY*

Tell you what, the short on EURJPY has been great over the past two weeks  A ray of light in my otherwise CRAP positions.  Thanks to ??? for the tip on The BigMacIndex thread which pointed out the overvaluing of the Euro, and if you look at where things are right now it's only going to continue falling.


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## Wealth Wizard (6 October 2008)

*Re: EURJPY*

got on to this one with an 11 point stop, just stoped out at 60 points, R:R = 5.45


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## Kauri (22 October 2008)

*Re: EURJPY*

too coil or nott to coil...   

Cheers
..........Kauri


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## MS+Tradesim (22 October 2008)

*Re: EURJPY*

Hey Kauri, watching that right now, too. Bummed I've been away from charts all week. Some great movement on EURJPY last few days.


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## arco (22 October 2008)

*Re: EURJPY*

Hi Guys

Always the possibility of a retracement to test Kumo base in the short term perhaps. (grey box zone). If it does I'll be day trading it..............whichever way the wind blows.....

rgds - arco


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## Kauri (27 October 2008)

*Re: EURJPY*

the action is not showing on my demo platform which I use to draw on, but on my trading platform have gone short after a 50% ret that also had A=C...
just more voopoo
 markets very thin...waitingonthelocalstockmarketsforrealdirection..
sorryaboutthepunctuationbuteverytimeIhitthespacebartheattachmentscreen
popup...popsup???

Cheers
.............Kauri


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## Kauri (27 October 2008)

*Re: EURJPY*

comments from German Finance Minister Steinbrueck  on the weekend are weighing on the EUR/JPY. Steinbrueck said that the danger of financial collapse was far from over adding: "We are still in a dangerous situation. I am not going to mislead anyone and say: we have got everything under control." 

Cheers
...........Kauri


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## Senaka (27 October 2008)

*Re: EURJPY*

My Target for EJ is 113


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## arco (31 October 2008)

*Re: EURJPY*

.

*Anyone know what caused the EY to plummet nearly 200 pips just now.???*

Overnight call rate Japan 30 mins ago?

I was lucky I was short with target 52.5 pips


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## Boggo (31 October 2008)

*Re: EURJPY*

Most of the currencies seemed to have taken a dip for a minute or so, GO dropped off line, I re-connected and it dropped off again, connected again and it was all over.
Connection is ok now, need to be placing stops straight away when you enter (i do anyway) if this is gonna happen when the pressure is on.


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## BentRod (22 November 2008)

*Re: EURJPY*

Budgie Man special on the 15m chart.

I've learnt to stay away from whipsaw Friday, it's tempting on a break though.


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## BentRod (22 November 2008)

*Re: EURJPY*

Didn't take long for that one to get invalidated


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## BentRod (5 January 2009)

*Re: EURJPY*

Coily on the Hourly.


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## lukeaye (18 November 2009)

I am Long EUR/JPY as of a few mins ago.

Entry at 132.803 with a 10 pip stop. No cemented target. 

Initial target 138 then, up up and away.

Sorry cant post chart at work. will update later


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## lukeaye (18 November 2009)

This is what i was looking at


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## lusk (18 November 2009)

lukeaye said:


> I am Long EUR/JPY as of a few mins ago.
> 
> Entry at 132.803 with a 10 pip stop. No cemented target.
> 
> ...




Good luck as you may die from the boredom it’s been floating in the wilderness for sometime.


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## lukeaye (18 November 2009)

I dont plan on sitting and watching it.

I place my order and walk away.

I have a day job!


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## lusk (18 November 2009)

lukeaye said:


> I dont plan on sitting and watching it.
> 
> I place my order and walk away.
> 
> I have a day job!




Ok, so why would you have a target of 138 which seems reasonable but looking at a 5min time frame with a 10 pip stop?


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## Robshan (13 March 2010)

Hi guys,

Curious to find out how many of you in ASF trade this pair regularly.

Personally, this is the only pair that I have made a habit of trading as it has some great movement during the Asian and European market sessions so I find it ideal to trade as an Australian with our hours.    I know that a hell of a lot of people trade USD pairs but I dont have a schedule that allows me to trade the better times for those pairs.

Cheers


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## Ruby (28 July 2010)

Hi Robshan,

I like trading this pair too.  It often gives lots of pips on a short time frame, and as you say, it is good to trade when you live on the east coast of Oz.  I have been sitting on the sidelines for a while, waiting for it to decide which direction it is going to take, and now it is starting to look interesting again. 

In the interests of generating some serious discussion I thought I might post a few thoughts on how I see things at the moment (which will be only my opinions), and will welcome feedback from anyone.  I won't do it all in one post because reading a long post becomes tedious, but will do a few when I feel I have something worthwhile to say.

Cheers,

Ruby


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## Ruby (28 July 2010)

This is my take on the EURJPY as it is now.   I don't mind if you disagree, but please do it constructively.  I've tried to keep it concise.

Looking at the daily chart, the market made two lows, the second slightly lower than the first, and rallied each time to a level of resistance it was unable to break.  The second low was accompanied by MACD divergence which made me think that the market might be about to turn.

Resistance at around 113.50 was tested several times, and each time the market failed to break through, so to me, the rally was looking weak and undecided.

The outlook seemed to change at the end of last week though, and since then it has been much more bullish.  It has made a higher low before rallying strongly to break through the resistance which has held it back for the last six weeks.

I am a bit of a conservative trader, and while the market is in a consolidation phase such as this has been, I don’t have the courage to enter, even for short-term scalping trades, so up until now it has still been 'wait-and-see'.

More soon.

Ruby


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## Ruby (28 July 2010)

It might be too early to tell if a new uptrend has started, but I am thinking along those lines.   What I would like to see now is a test of the resistance level that has just been broken.  If it pulls back well below the resistance level the rally might be weak or it might fail, but if it pulls back only slightly before resuming the move up, that will suggest strength to me.

I trade intra-day, so looking at the 1 hour chart I now see a nice uptrend developing.   Whether or not this continues, we will have to wait and see, but I am looking for opportunities to enter this market long.

I wrote this early today, and now - late afternoon - it is looking even more bullish.

Cheers,

Ruby


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## ipndasno (29 July 2010)

Ruby said:


> It might be too early to tell if a new uptrend has started, but I am thinking along those lines.   What I would like to see now is a test of the resistance level that has just been broken.  If it pulls back well below the resistance level the rally might be weak or it might fail, but if it pulls back only slightly before resuming the move up, that will suggest strength to me.
> 
> I trade intra-day, so looking at the 1 hour chart I now see a nice uptrend developing.   Whether or not this continues, we will have to wait and see, but I am looking for opportunities to enter this market long.
> 
> ...




Yes agreed, I also see a Nice bullish run. Last sunday, I made a note on my white board to Stay Long on EJ for the next 6 months. I had targets at 112.50 (already hit) then 119.00 and possibly 122.33. However, like any market, we have to wait for a Pull back to enter in the direction of the trend or otherwise our stoploss will be hit and We will be sitting out and watching this run..

I also wanted to point out( as mentioned above) that this developing trend has a lot of resistance to go through before it breaks out Higher. Last Night I stayed Short as I am an aggressive FX scalper and I was able to make some nice calls around 114.31.. 

I also Took a Nice bounce off 113.40 Level (long) for a quick Pip Gain.. From Here I am once again Short, until I see a 122.50, then I will Reload LONG and Hold my positions fro several months collecting a Nice Swap..

Obey the TrendLines and horizontal S/R lines. Try to focus on the momentum and ignore the trading indicators,. Price will always be the best Clue.

It's my First post here, as I am from the USA, But I plan to share my knowledge and get an insight on the Aussie economical condition, because I am a big believer of HIGH yield carry trades and the USA dollar is nothing but a waste of a saving account. GO AUD.


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## ipndasno (29 July 2010)

Robshan said:


> Hi guys,
> 
> Curious to find out how many of you in ASF trade this pair regularly.
> 
> ...




Hey How are you doing Buddy. It's Will from USA. invest $5 Lol. I did a Google search on your ID name and Thats how I found out about this Forum! great Find. !!


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## professor_frink (29 July 2010)

Ruby said:


> It might be too early to tell if a new uptrend has started, but I am thinking along those lines.   What I would like to see now is a test of the resistance level that has just been broken.  If it pulls back well below the resistance level the rally might be weak or it might fail, but if it pulls back only slightly before resuming the move up, that will suggest strength to me.
> 
> I trade intra-day, so looking at the 1 hour chart I now see a nice uptrend developing.   Whether or not this continues, we will have to wait and see, but I am looking for opportunities to enter this market long.
> 
> ...




Hi Ruby,

thanks for posting up your analysis, appreciate it. Though it is a little hard to understand what's going on without a chart to go with it

Visuals just make everything that little bit easier to understand


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## Ruby (29 July 2010)

professor_frink said:


> Hi Ruby,
> 
> thanks for posting up your analysis, appreciate it. Though it is a little hard to understand what's going on without a chart to go with it
> 
> Visuals just make everything that little bit easier to understand




Yes, accepted.  I was a little short on time yesterday and as I haven't tried to upload a chart before I put it in the 'too hard' basket.  If I post anything more I will add a chart.


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## professor_frink (29 July 2010)

Ruby said:


> Yes, accepted.  I was a little short on time yesterday and as I haven't tried to upload a chart before I put it in the 'too hard' basket.  If I post anything more I will add a chart.




Thanks Ruby, look forward to hearing some more opinions on this pair


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## PipSafe (20 March 2014)

*Re: EURJPY*

EUR/JPY pair from the end of 2012 till now was in a strong and without reformation uptrend that shows buyers determination to achieve predetermined targets. Price during the recent uptrend was able to record the highest price of 145.614.As it is obvious in the picture below, price has been stopped from more descending with reaching to the Up Trend line made of several Support points (Sellers leave their trades) and with creating the Bottom price of 140.296, the field has been prepared for ascending. The first warning for ascending of price is breaking of the resistance level (the yesterday highest price change) 141.947.According to the recent downfall from the top price of 143.773, RSI indicator is in saturation sell area and with the next cycle confirms the bottom price of 140.296 warns about price reformation during the next candles.One of the important warnings for starting the price downfall is breaking the ascending trend line (made of Five bottom prices) in 4H time frame.


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## cogs (9 April 2019)

Some long legs left in eurjpy to close out big orders from 22.03 up to ~125.9, and the only major to get it up there appears to be eurusd. IMO this is why the pump n dump in eurusd is also highly possible.
Longer term target being 120
Just my opinion.


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## ducati916 (7 September 2020)

A bit of an experiment for me: placed an FX trade. Short EUR Long YEN @ 125.838 stop @ 126.109. It is in a demo account, so I can test my 'system' without killing the account.

jog on
duc


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## ducati916 (7 September 2020)

ducati916 said:


> A bit of an experiment for me: placed an FX trade. Short EUR Long YEN @ 125.838 stop @ 126.109. It is in a demo account, so I can test my 'system' without killing the account.
> 
> jog on
> duc





Trade now moved into profit. 

jog on
duc


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## ducati916 (7 September 2020)

ducati916 said:


> Trade now moved into profit.
> 
> jog on
> duc





So this is now +132pts.

jog on
duc


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## ducati916 (8 September 2020)

ducati916 said:


> So this is now +132pts.
> 
> jog on
> duc




The CFD system is quite different to anything else I've ever traded.




Still trying to figure it out.  I've been reading through all the documentation and gradually coming to terms with it.

Essentially, quite a few posts ago Mr Skate asked for a strategy that was non-correlated to stocks. Well FX is it. Currencies have their own drivers and catalysts, sometimes they may align with stocks, very often they don't.

When I first looked at currencies, probably 15yrs ago, I think it was due to reading Market Wizards, were someone traded currencies, so I thought why not. Anyway, things did not go well and I just gave them up. However, now seems an opportune moment to revisit.

This trade could be on for a while, we'll see.

jog on
duc


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## ducati916 (8 September 2020)

ducati916 said:


> The CFD system is quite different to anything else I've ever traded.
> 
> View attachment 108858
> 
> ...





Ok, closed that trade, opened another:






Starting to see the leverage now. Documentation is really not that great in explaining the basics. However slowly getting there.

jog on
duc


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## ducati916 (8 September 2020)

So had an experiment with different position sizes at the same price:




Tons of leverage available.

jog on
duc


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