USDJPY Technical Analysis 07.06 - 14.07 : Possible Breakout - page 2
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Is it good time to buy USD/JPY?
By the way, if you buy USDJPY so it will be counter trend (buy against main trend) ... just to get few pips in profit for example.
As to support / resistance on M1/M5 timeframe so the situation is the following:
MetaTrader Trading Platform Screenshots
USDJPY, M5, 2013.07.10
MetaQuotes Software Corp., MetaTrader 5, Demo
usdjpy m5
So, if you want to try on demo - place buy stop at 100.30 and sell stop at 100.12
MetaTrader Trading Platform Screenshots
USDJPY, M5, 2013.07.10
MetaQuotes Software Corp., MetaTrader 5, Demo
buy stop sell stop
As to me so I will wait for breakdown or breakout on H4 and/or D1 timeframe because I do not like risk in trading sorry.
So, if you want to try on demo - place buy stop at 100.30 and sell stop at 100.12
As to me so I will wait for breakdown or breakout on H4 and/or D1 timeframe because I do not like risk in trading sorry.
and you can see - 19 pips in profit : buy stop pending order was executed to normal buy trade, and I am deleting sell stop for now.
MetaTrader Trading Platform Screenshots
USDJPY, M5, 2013.07.10
MetaQuotes Software Corp., MetaTrader 5, Demo
usdjpy buy executed
So, I deleted sell stop and placed stop loss by mouse - watch the video for example:
PS. This trade was closed in profit
So, I deleted sell stop and placed stop loss by mouse - watch the video for example:
PS. This trade was closed in profit
This news event is going on for right now :
2013-07-10 18:00 GMT | [USD - FOMC Meeting Minutes]
This is what I am talking about :
Forum
USDJPY Technical Analysis 07.06 - 14.07 : Possible Breakout
newdigital, 2013.07.10 19:11
Basicly, when I am trading nfp so I am placing 2 pending orders (buy stop and sell stop) with the distance of 20 pips (4 digit pips) from the market price. because it is very risky to place them in very close to each other. But as we know - the speeches are less predictable than the other news events so ... some speech may be estimated by us (or by MQ, or by any other calendar makers) as high impacted but as a result - it will be low impacted so ... who nows ... but in case of nfp - this is always high impacted news event.And this is the proof: +27 pips to one side and +75 pips to the other side :
MetaTrader Trading Platform Screenshots
USDJPY, M5, 2013.07.10
MetaQuotes Software Corp., MetaTrader 5, Demo
75 pips
USD PPI for USDJPY - just an information about.
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Forum
Press review
newdigital, 2013.07.12 14:55
2013-07-12 12:30 GMT | [USD - PPI core]
past data is 0.5% (monthly data)
forecast data is 0.5% (monthly)
actual data is 0.8% (mom) according to latest press release
if actual > forecast = good for currency (for USD in our case)
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U.S. Producer Prices Rise More Than Expected In June :
With energy prices showing a substantial increase, the Labor Department released a report on Friday showing that U.S. producer prices rose by more than expected in the month of June.
The Labor Department said its producer price index rose by 0.8 percent in June following a 0.5 percent increase in May. Economists had been expecting the price growth to match the increase seen in the previous month.
Excluding food and energy prices, core producer prices edged up by 0.2 percent in June after inching up by 0.1 percent in May. The increase in core prices matched economist estimates.
MetaTrader Trading Platform Screenshots
USDJPY, M5, 2013.07.12
MetaQuotes Software Corp., MetaTrader 5, Demo
usdjpy 19 pips
USD/JPY weekly outlook: July 15 - 19 :
The dollar was higher against the yen on Friday, after falling sharply in the previous two sessions after Federal Reserve Chairman Ben Bernanke indicated that the bank may not be as close to tapering its asset purchase program as previously believed.
USD/JPY fell to lows of 98.25 on Thursday; the lowest since June 27, before recovering to close at 99.22 on Friday, up 0.28% for the day, paring the week’s losses to 1.68%.
The pair is likely to find support at 98.25, Thursday’s low and resistance at 101.20, the high of July 10.
The dollar fell sharply on Wednesday after Bernanke said the Fed will continue to maintain accommodative monetary policy for the foreseeable future, citing low levels of inflation and the high unemployment rate.
Bernanke said the bank will not raise interest rates until the U.S. unemployment rate hits 6.5%.
The comments came after the minutes of the central bank’s June policy meeting showed that Fed policymakers remain divided over when to begin tapering its USD85 billion-a-month asset purchase program.
Around half of Fed policymakers believe the bank should start to scale back bond purchases by the end of the year, while many others believe the labor market still remains too weak.
The yen was boosted after the Bank of Japan left monetary policy on hold following its policy setting meeting on Thursday, in a widely anticipated decision.
The BoJ also upgraded its assessment of the economy, saying it is starting to moderately recover.
Data on Friday showed that U.S. consumer sentiment ticked lower in July, with the University of Michigan’s consumer sentiment index slipping to 83.9 from 84.1 in June, compared to expectations for a reading of 85.0.
Meanwhile, Philadelphia Fed President Charles Plosser said Friday the U.S. central bank should wind down its monetary stimulus program by the end of this year. Elsewhere, St. Louis Fed President James Bullard said the bank should not start tapering asset purchases if inflation remains weak.
In the week ahead, investors will be looking ahead to U.S. data on retail sales, consumer inflation and housing sector activity. Meanwhile, markets in Japan are to remain closed on Monday.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect the markets. The guide skips Friday as there are no relevant events on this day.
Monday, July 15
Markets in Japan are to remain closed for a national holiday.
The U.S. is to produce official data on retail sales, the government measure of consumer spending, which accounts for the majority of overall economic activity. The U.S. is also to publish the Empire state manufacturing index and a report on business inventories.
Tuesday, July 16
The U.S. is to release official data on consumer price inflation, industrial production and the capacity utilization rate.
Wednesday, July 17
The BoJ is to release the minutes of its latest policy meeting, which contain valuable insights into economic conditions from the bank’s perspective.
The U.S. is to release official data on building permits, a leading indicator of future construction sector activity, as well as data on housing starts. The Federal Reserve is to release its Beige book.
Thursday, July 18
The U.S. is to release the weekly government report on initial jobless claims and the Philly Fed manufacturing index.