USD/JPY First Quarter

I have been trading this cross (exclusively almost) for about 14 months now, pretty good returns. 

What is your guy's guess as to where it ends the quarter? 

I see a strong case for both sides. 

I also follow this closely..and the LB/Yen for more action.

Range trading the yen. 
Fibbonacci, and the DEMA crosses. 

Short day trades, no more than 40-80  pips a pop. 

Currently long the yen from 104.25 from this afternoon, almost got stopped out, but it looks like the JPY session is going to bail me out.  Holding above .25 now. 
I have about 12 pips as I type, but it is coming up on the DEMA 60 line, so It is probably going to reject it within the next 2 hrs.  I will wait and see what it does, but most definitely be out by bedtime. 


 

I have not been using stops..rather I have been buying INTO a position, which isnt as glamorous but I really think that in the Forex if you use stops you will be hen pecked into oblivion.

It can definitely feel that way at times.
I approach the crosses/Fibos like a football game, where i am laying $60 to win $180.
Don't have to win much to make money.  Not setting the world on fire, but I win more than lose on a weekly basis. 

The only loss I had was when I had to step out to run an errand and a pair went down HUGE on a short term spike and my margin tossed me out..I had the ability to deposit more to increase my cushion but it happened in a very very short period and bounced back just as quick..so I get put out of a winning position because of some stop orders that triggered a margin hit.

I got out before the news. 
Bought at 104

Stop @ 103.60
Limit @ 105.20 

I like it when I can do nice round numbers. 

I can sleep when there is only 40 pips on the table.  I couldn't hold positions as long as you. I would be a nervous wreck
 

Well there are times I havent slept too good but usually I am not on the edge of anything so the risk isnt really there to a large degree.

No I got out around 104.32 for a 7 pip profit.

Then waited til it breached 104 and re-entered as the dust settled, and am up aboit 35 pips now. For a total of 42 pips.

I see it as having a position an hedging against event risk.

I essentially got a better price on my buy, and didnt have to sweat out a 30 pip swing.

Oh well thats better....I thought you were stopped out.

Yeah, still on that trade, I was happy to get in @ 104
There have been no less than 5 times that 104 has been a key support on the 20 day chart.

I think we see another push before the weekend, and a rejection of the 105.49 area. Then back down to 104, if not below.

I had a sitting sell limit in on the Lb/Yen at 173.76 and looks like I missed it by 15 or so..

Yeah, didn't see that one, may dampen my projections. 

china has definitely been the wild card in the past f

.... Few months. 

If they are reporting slowing you have to wonder if they are actually grinding to a halt with the nature of disclosure

Yes I trust China pretty much zippo for the truth of the status of their economy.

Big hit today, ended up with 11 pips.

its a blood bath

Its controlled..

I like this 101.98 level
going long

Nice so far rick..

I was out around 9:30
I am actually on military orders and was getting ready to go out to the range, and options expiration was looming.

Ended up with 55 pips

That is a solid trade..nice job.

I almost want to bet on a gap up yhis weekend, but cant justify another trade.

been a decent week.

not going to push it

I had an order on the LB/Yen at 168.70 but pulled not wanting to face a sunday evening gap down since markets closed so poorly..

Looks like I was wrong, gap down. Got in long around 102