I’m still biased to the USD/JPY upside from the Yen weakening.
Downside break of the trendline should see support at 97 & 96.5.
Upside break of 103.67 (May 22 High) should see a quick rise to test 104.
Bought: 99 & 99.5
TP: 105
SL: None (Re-Buying on dips)
Following ~
Me too :))))
Okay I predict that 98.997 is the bottom! We will never see usd/jpy ever at 98.997 unless there is a hugeeee market crash(s) of some kind.
If NonFarm Payrolls on Friday severely dissapiont then yes this could make this drop. But from todays “Beige Book”, the Fed said “The growth in was modest to moderate across most of the US in the last month. The [B][U]employment increased in several districts[/U] and the real estate and [U]construction expanded at a moderate to strong pace[/U] in most Fed districts.[/B]”
Suggesting NF Payrolls won’t bring disappointing numbers.
WHAAAAAAAAAAT~ Just happend!? o.o
Leave trade before margin call?
[QUOTE=“supaH;497670”]
If NonFarm Payrolls on Friday severely dissapiont then yes this could make this drop. But from todays “Beige Book”, the Fed said “The growth in was modest to moderate across most of the US in the last month. The employment increased in several districts and the real estate and construction expanded at a moderate to strong pace in most Fed districts.”
Suggesting NF Payrolls won’t bring disappointing numbers.[/QUOTE]
Careful… The report said “employment increased in SEVERAL districts”… Not “most districts” …
Todays near 350pip drop was shocking but not all bad. It just gives the Yen bears and another chance of getting on this train before continuing its overall trend.
Wide spread predictions of USD/JPY reaching 105 by the end of 2013. I personally think the pair will reach 106-110 by end of 2013.
For those worried about there positions because of todays drop, the whole point of buying on dips is use small % of your budget per trade so that you don’t get a margin call and can continue buying on dips.
Even if Tomorrow’s NFP dissapint, and USD/JPY drops some more, the BOJ will not be pleased and will more than likely step in again to devalue the Yen further.
[QUOTE=“supaH;497938”]Todays near 350pip drop was shocking but not all bad. It just gives the Yen bears and another chance of getting on this train before continuing its overall trend.
Wide spread predictions of USD/JPY reaching 105 by the end of 2013. I personally think the pair will reach 106-110 by end of 2013.
For those worried about there positions because of todays drop, the whole point of buying on dips is use small % of your budget per trade so that you don’t get a margin call and can continue buying on dips.[/QUOTE]
How low can usdjpy go before you margin call?
You are predicting, not reacting. And pretty soon you will be hoping and praying.
If you are so certain USDJPY is going to go up, why aren’t you adding positions into this dip?
I don’t deny the fact that it could go as you say, I simply wouldn’t have played it as you have.
[QUOTE=“mastergunner99;497946”]You are predicting, not reacting. And pretty soon you will be hoping and praying.
If you are so certain USDJPY is going to go up, why aren’t you adding positions into this dip?
I don’t deny the fact that it could go as you say, I simply wouldn’t have played it as you have.[/QUOTE]
Wow… Award for most useful post ever. Absolute gold right there…Only gem he left out is… If price is going up then buy… If price is going down then sell… And just stop trying to predict! Silly boy… Just stop.
I would’ve played with 0.10 leverage, however the platform I’m using - Plus500 only allow 1:1
