can you get that on demo or is it live accounts only?
Demo and live 
Thanks,
Just downloaded it, works a treat. 1st lesson, don’t run antivirus software when theres a trade open. It momentarily disconnected me and the trade closed. Another good reason to begin with demo accounts, wouldn’t have wanted that on a live trade.
That mid-December bounce off 84 was very bullish for the pair.
The test of 90 that followed also attracted more buyers.
Sellers will need to breach 90 to even begin mounting control. Shorting for the long-term here is going against a 6-year bull trend unfortunately.
This will sound crazy, but it’s insightful.
Bernie Madoff was one of the best traders on the planet (Aside from screwing people over).
He made a huge mistake when he went from being a trader, to an investor. They are two different things.
In my humblest of opinions, the FX market (from a retailer’s stand point) needs to be traded- not invested in. When you invest, you tie up capital which can be put to use on hundreds of different ways each week / month. There probably are investors out there- I just think trading FX makes more sense.
Jake
Concur.
Depositing money into a business checking account to open a shoe shop is an investment. When the buyer for the shoe shop spends that money on shoe inventory the transaction is not another investment, it is simply a business operation for the shoe shop.
In the same way, depositing money into a trading account to open a forex trading business is an investment. When the trader puts on a trade the transaction is simply a business operation for the forex trading business previously invested in.
I agree, Jake… My point in the article is that the 100 level has not been reclaimed in nearly three decades; you always see that the Majors (and some yen crosses), when you look back twenty years or more, never match up to their former highs… This means that while it is possible that the climb toward 100 will continue for NZD/JPY, it will take something of greater conviction than low-yield ‘carry’ to continue the trend. I have unsuccessfully shorted this pair on false moves on several occasions this year: too soon; patience is key. When a deleveraging of the Nikkei225 will occur, or a deleveraging of the USD/JPY and all Yen crosses, or simply a natural flow of money out of such risky positioning, then we can be more certain that going short on over-exposed pairs like this will have been worth the wait.
Got knocked out of 5 yen pairs today. I was short the yen on all of them. One that did not get poofed was my long NZD/JPY. Getting out over that 8th high here on the 29th puts this one in Upward Dog. Namaste!
Sorry to hear that…good luck with your Yen selling in the new year!
Going back to what I was saying, here is a chart of USD/JPY for the last fifty years:
Zoom on historical exchange rates graph
What can you notice straight away? Indeed, there is an imaginary descending line joining lower highs in 1990, 1998, and 2002: we may be in bullish mode now but we are close to the extension of this line and it is not something to be dismissed.
The USD/JPY being a trend-setter for all Yen crosses in the bigger picture, its rapid descent from a major resistance could cascade down on the other Yen pairs, although a technical move off a two-decade trendline would undoubtedly be accompanied by a fundamental catalyst.
Happy trading and a happy new year!
Happy New year my good friend. We don’t have a crystal ball and for now the powers that be are Dollar centric it will take a brave soul to short now, that said FOREXUNLIMITED if you recall Euro Dollar a few months back we had that heated thread when the Euro was pushing close to 1.4000 and I kept saying it is time to short the Euro and the Dollar was on its way back, I proposed a short at 1.41 but thought it was worth shorting at 1.39 and having stops above the 1.41…
All said, the Yen will be bought back and the Bull trap is being sprung I suspect a return to the highs with a potential to push 124. area on USD. This is the shake off on weak shorts, it will take a lot of blood to buy the Yen, can’t have weak shorts. All said I am watching patiently for teh big Yen comeback. The stage is set…
Hello dear Emerald!
I agree, the USD is in bullish mode… With the former USSR out of the bullish picture (contracting GDP and tumbling Ruble), and China’s slowdown, the USA are on the way up… However, as John Kicklighter never tires of saying, USD/JPY is a doubly-fragile pair: it will fall if US Dollar bets should fall, but it could also fall in a risk-aversion scenario… So, even if risk aversion would benefit the US Dollar as the world’s safe-haven currency, it would do so at the exclusion of the USD/JPY pair…
Also, the USD/JPY third move up is a response to the BoJ’s third QE round, but after the first round, each subsequent round’s USD/JPY push up has fizzled into consolidation… and we are possibly already getting to that point…
While the long-term descending trend-line I mentioned would intersect the USD/JPY’s price in the region around 125.00, price may fail to reach this target before turning, as it has done so twice before in the last few years…
However, it is a fair profit for bulls, even if we only got as far as, say, 123.00, so any shorting would require time and patience for confirmation of turning…
I am a long-term Yen-cross bear, but the time has yet to come for action… Best to invest in other pairs, in the meantime: the Yen’s tale of rising from the ashes is yet to be told…
Happy trading.
FINALLY!
We are seeing signs of the NZD/JPY losing strength…
The pair has broken with plenty of force through the 50-day simple moving average and has produced a mighty drop
on the daily chart today:
This is even more of a drop than what the NZD/USD produced today, although it led the way initially…
One word: SELL THE KIWI!!!
My profit target is around the area where the 100 and 200-day moving averages sit at the moment, which
would give me a nice return; the stop is above the last few days’ high…
Good luck trading out there!
Happy trading…
90 is going to be revealing. I still feel that LT equity measures have an upside bias. ST though, they are indeed pulling back. 90 may be a good opportunity to pick up this carry trade on the cheap.
The real test will come @ 83 though. We’re still in an uptrend here, and unless bears can breach 90, they will surely start to cover to await higher prices.
Following a bad NZ CPI data round and a BoJ press conference last night / this morning, NZD/JPY is now pressing down on that 0.90 level…
From the lofty heights of 0.94, the pair has, therefore, shed nearly 4% and is fast approaching the 100-day moving average (daily chart).
[B]Too soon to say if the break of 0.90 has enough momentum,
but it has now occurred and the pair is loitering around 0.8985…
[/B]
KIWI DROPPED CONSIDERABLY since the NYSE open (2.30pm GMT)…
NZD/USD: securely under 0.77 ;
NZD/JPY: securely under 0.90.
Good work for my shorts…
This is terrific.
NZD/JPY looks good to close below the 200-day moving average (rollin’ on the MDMA baby!) After dipping below it yesterday, I shorted at 88.400 on today’s break lower than yesterday’s low. I agree with ForexUNLIMITED and the voices in my head that the real test is that 83.00 level below the 10/16 minor low. That said, I am definitely seeing bears in my hallucinations on this pair. Cuddly teddy bears. A bit like those Grateful Dead ones only with teeth. And panda-like markings around the eyes. Most of them are bright kiwi green.
NZD/USD is struggling to break 0.74 and NZD/JPY is struggling to break 87.00; volume on NZD/USD is dropping fast, as money into these currencies drains in preparation for the FOMC and the RBNZ rate decisions tomorrow.
According to these data New Zealand Key Economic Data - Monthly Economic Indicators November 2014 — The Treasury - New Zealand, there is stagnant wage growth, CPI, and decreasing economic sentiment in New Zealand, with GDP at sub-1% levels and the only positive data of worth being some pick-up in retail/consumption. All of this suggests a status-quo RBNZ monetary policy statement, which could either mean that the NZD takes the path of least resistance and continues its journey south, or that it flounders and stalls around current levels… Again, nobody can say what will happen, so we will just have to stay put.
[B][B]As traders pile onto NZD positions, post-FOMC rate decision, FXCM retail volume for NZD/USD currently stands at over 37 million units, and it is rising yet… While NZD/USD failed to break the 0.74 level on the status-quo Fed statement tonight, it reacted with a sharp drop of about 75 pips, and the mounting tension on the pair is palpable as we approach the RBNZ rate decision, due in ten minutes… [/B][/B]