YEN

[frixxxx]

Ok timing is everything and the Yen is bouncing through this market. If the markets keep trending, we could see 95.80 by Friday. If there is a pullback, 92.60 is a strong support for me.

[alevin]

OK, Frixx, warned you. When you say 95.8 by Friday and 92.6 is support-what that says to me is that the yen will be weaker by Friday, ie a dollar will buy more yen on Friday if your forecast comes true. Are you trying to accumulate yen?

[frixxxx]

Originally Posted by alevin

OK, Frixx, warned you. When you say 95.8 by Friday and 92.6 is support-what that says to me is that the yen will be weaker by Friday, ie a dollar will buy more yen on Friday if your forecast comes true. Are you trying to accumulate yen?

When looking at Currency Pairs (JPYUSD) you look at the last currency as the base.

"95 yen to 1 USD < "92 yen to 1 USD"

The higher the first number the stronger the second number (USD).

so 95 is a stronger dollar that 92

As far as accumulation, I never try to "hold" positions. I place a position on the market and look for movement. Based on how it moves and the amount of my goal determines how long I leave a position in play. I may place a position of a 1k lot and hold it until the pip movement reaches a desired % of increase. Then I close that position.

I recommend this site to everyone cause it gave me 98% of the knowledge I use everyday: babypips.com

Start at preschool and work your way through. They are usualy a half hour long and you can review them any time you want.

Let me know if this helps.

[frixxxx]

Originally Posted by frixxxx

Ok timing is everything and the Yen is bouncing through this market. If the markets keep trending, we could see 95.80 by Friday. If there is a pullback, 92.60 is a strong support for me.

Haven't been able to get in here with my market analysis.

US was overbought the last week which weakened the Yen support. Now the dollar is huge and getting ready to hit the 95.80. The breakthrough there will cause it to run to 96.50. Two days of the week are left and next week ushers in some weird numbers....We will be in for 5% in August. 1.25% a week. Major sideways movement will be the call.

[frixxxx]

In @ 88.10 LONG

Target 92 to close position (91.63)

30K Lots 2 each......may S/L one lot at 89.75 for protection!