nevertheless it is funny how all of us gather around the camp fire and watch is smolder and eventually go out....Originally Posted by Merlin ;
FX junkies we have to be!!!
nevertheless it is funny how all of us gather around the camp fire and watch is smolder and eventually go out....
FX junkies we have to be!!!
HMMM... 1st time to trade JPY Exit with (-4)... as Said JPY news cant be exchanged !
Yeah no transaction on that one. We need a word for moves like that. It moves, but maybe not at all a tradable way...
That is why you don't trade releases. They suck because news becomes leaked all the time and it causes the price to move bizarre.
I stay out of JPY news events. It's simply not worthwhile.
Boy that was really worth waiting for...
What a dud of a news release LOL. Average with JPY pairs. Looks like just GBP, USD and EURO and CAD news transfer the market the rest just move the market if its interest rate linked.
Another hum-drum JPY release....what a suprise!!! I don't trade Yen in general, but I would go short if I did at 116.46 to the remainder of the Asian session...
The release was traded by me. I read on commerce the news that they heard unoffical reports that the information could be weaker than anticipated.
- Some details of tonight's release were leaked earlier this week. These reports have been unconfirmed. 8/21 (JP) Japanese Official: CPI might be revised over forecasted (Official not recognized, appears to be a flow to a newswire)... (From Trade the News)
So I went before the news (Believing the Yen would feeble against the dollar) and was able to profit 7 pips.
Went long @ 116.49
Sold @ 116.56
7 pips ($6.01)
Not too big a spike, but I'll take it.
For those that care to trade the Asian news below would be the Fundamental levels to help you determine when to get out whenever the momentum settles...
USD/YEN
Offers: 116.60/00
Stops Above 116.70
Bids: 116.00 (148.50 EUR/JPY)
Current Level 116.43 Resting lower 18/28 combo tunnel 15 min chart
Potential stalls of counter currency:
Eur/USD Bids: 1.2750/55 Stops Below
Further Need 1.2720/10
Offers: 1.2840/60
Current Level 1.2759 condition sideways Resting under 21 SMA 15 min chart
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Im looking to go USDJPY on a stronger than anticipated CPI. The yen was weak so if we get a solid CPI it should trap a lot of people in thier yen shorts.
If we get a poorer than anticipated amount, as well as the USDJPY spikes upward, im looking to perform with a reversal on that spike, even when the price starts reversing as folks take profits.
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