Comments on: USD/JPY: Market eyeing resistance levels near 101.50/55

By: ExpatWatcher

ExpatWatcher — Mon, 25 Nov 2013 04:09:27 +0000

IMHO it looks like AUDJPY long is only safe way to go for AUD bulls …. all the other crosses sagging and AUDUSD looks likely to have a peek under 0.9000 before holiday markets emerge … then it will be sideways to up a touch perhaps – but that takes us closer to the QE tap being tightened

By: Ray

Ray — Mon, 25 Nov 2013 02:40:40 +0000

A/U is rly a blimmer Sean. Got hurt too on its way down in Jun-Jul period trying bottom picking. Guess it’s on its way down to test August’s lows again?

By: Sean Lee

Sean Lee — Mon, 25 Nov 2013 02:30:47 +0000

Now there’s a good plan Ray 🙂 Much better than my buy-AUD/USD-dip nonsense from late last week 🙁

By: Ray

Ray — Mon, 25 Nov 2013 02:26:00 +0000

Thanks alot Sean. Ok let’s ride the ups and downs for the cable legs on route to 1.75 then! 🙂

By: Sean Lee

Sean Lee — Mon, 25 Nov 2013 02:22:28 +0000

Most definitely George, 175 by end Q1 2014 is my target

By: Sean Lee

Sean Lee — Mon, 25 Nov 2013 02:21:40 +0000

Ray, bit of a guess this far in advance, but if 16260 breaks then I’d expect 160 to form a formidable psych base

By: Forex Positive

Forex Positive — Mon, 25 Nov 2013 02:18:31 +0000

USDJPY 101.50 stops taken out. That was quick. Any idea where USDJPY heading to next?

By: George

George — Mon, 25 Nov 2013 02:10:00 +0000

Hello Sean, what is your long term target of cable? You think it can get back 170’s.

By: Ray

Ray — Mon, 25 Nov 2013 01:36:56 +0000

Thanks for the advice Sean. Does seem the likely scenario from here 🙂

Sorry to stretch a bit more from here..on the basing that you mentioned after stalling at 1.64 and dipping to take out the 1.625 trailing stops, can I ask what could the possible base levels be? Thanks alot.

By: Sean Lee

Sean Lee — Mon, 25 Nov 2013 01:26:58 +0000

Tend to agree with that Jack, market is in cross-trading mode so all of the crosses are being v closely watched

By: JACK

JACK — Mon, 25 Nov 2013 01:23:50 +0000

Hi Sean, i think if that GBPCHF break above 1.481, then cable 1.64 target will hit soon, due to GBPCHF been try a few time to break 1.48, but always reject from here, do you think so?

By: Sean Lee

Sean Lee — Mon, 25 Nov 2013 01:03:16 +0000

Hi Ray, I think we will get a break this time through 16270 up towards 16410/40. Then it may stall, fall again to take out trailing stops below 16250 (as usual) and finally base before the big surge happens.
Break trading could work but don’t be greedy, grab 100/150 pips if you get them and look again. That’s how I would approach it for now but all can change in an instant as we know

By: Ray

Ray — Mon, 25 Nov 2013 01:00:25 +0000

Hi Sean, I know u are a long term cable bull but in the short term, do you think cable has a possibility of dipping back to 1.61 or 1.6 before the upside surge? Was thinking whether to go long on a break of 1.626 or wait for the dips before joining the up leg. Seems the break of 1.626 now looks very possible now compared to previous recent 2 tries? Fed tapering may put a dampen on this though. What’s your view? Thanks.