Forex

any idea where usdjpy is going up or down.

Right now appears to be going back down. Tested 101.05 three times on the hourly and overall trend is down.

However it could still range from the 100 level

I'm looking at the 5 min chart

WOW. That was a move. I guess the Bear Stearns news did that one.

DAmn...
ALMOST GET 100PIPS...
but... too early after AFRAID of HIGH 101.XX
then i BREAK.... gain ONLY 4 PIPS.....................ahhhhhgghhhhhh
then its go down again .......oooooooooohhhhhhh loosing my 100 pips JUST IN SECONDS...
come on baby...

Well I trailed my stop just above 101 and that turned out to be a big mistake as I was stopped out before the large drop into double digits again. This is just another reminder of how risky and difficulty trading 5th waves. I'm really only inclined to look for long positions but that probably won't happen until I finally get some confirmation that the dollar has bottomed. Which should happen soon.

What's the consensus in the forum? Will the Bank of Japan intervene or do they have too many problems of there own to step into the market?

A new rumor is floating around the market that a number of central banks are going to team up to support the dollar. This would be the first time in 13 years that something of this magnitude was attempted.

If this is true, today would be the best time. We are looking at renewed problems in the financial markets, talk of a Bear Stearns cash problem (and possible collapse if they can't salvage the value of their assets), and the dollar is at record lows against the euro and swiss franc (USDCHF is at parity!!).

And with USDJPY at 100, a dollar rescue could send the pair soaring. I am still bearish, but I am not in the market until its clear a rescue won't happen and the Fed passes or there is an announced worldwide dollar bid from the CBs.

thats time REALLY MAKES me SCARED, but LUCKY i believe in YOU American T
so, i also PUT MY STOP AT 101.35

lucky it bounced back drop... so ..i have my 4 pips
because THAT WAVE.. really drive me crazy...

I am still holding short since 106.00. I am just waiting to see how this bottom works out before I flip sides.. Take a Long and close out my short.

I think the banks can do what they want. There will still be this sentiment out there of dollar negativity. Until the US Government Does something Steller to change this sentiment and there is a "Trust" between investors and the market; then this anti-dollar world move is not going to change. There are going to be more and more hedge funds / banks / and mortgage companies going out of business. I say they should go out of business if they made bad choices by over leveraging. I know when I trade. I put myself at risk of losing all the money in my trading account if I over leverage. Just because you can leverage that high doesn't mean you have to. but hey.. I am a conserative investor.

This could be Bushs' big gift to the Democratic party. "Here is the broken dollar; fix it". Election year.

hello guys..will the USD/JPY go up again today??? wat level do u expect it to reach..101 max?

Long 99.25 (Should i bend over and kiss my a*se goodbye?) SL 97.50