Fading Yen - It has gone parabolic

This is interesting.

Mav is right. This is NOT parabolic. There is some possibility that we could see a little pullback for a scalp on intraday. But, to me it looks likes the upside is just getting ready.

If this thing gives me a chance, I want in on a pullback.
 
A move like this can easily produce a 5%+ correction, well within my scope of 'tradeable moves' - but certainly not a scalp.
Especially if usd decides to weaken at the same time as a jpy correction.

As to numbers, how far this way/that way - that's an indulgence that belongs in a tarot reading.

Though looking at those longterm charts, 100 looks interesting if it coincides with a turn.

Will be short when its short, and long when its long.
If no long jpy moves appear, ill remain short.
Simples.
 
Quote from pfranz:

I believe yen is sensitive to risk and carry trades.Notice that yen began its drop when europe risk seemed to go away (one month before S&P raising Greece rating by 6 degrees,ECB accepting southern bonds again as collateral).
What if risk appears again?
As to carry trades, yen has been for decades the only large currency with low interest rates,so very good to short against other currencies.But now,both USD and EUR have low interest rates,so there is no reason to keep these carry trades.
I think that both Switzerland and Japan are "riding the wave" to weaken their currencies now that risk seemed to disappear,but I think neither is able to do that if the world feels that there are big troubles.
So, what do you think? We have really overcome debt problems and yen drop will continue,or problems will come up again and yen rise will follow?
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I would be careful of trying to over think this stuff. The market is going to do whatever it's going to do. It's best to take a quantitative approach. Usually the biggest moves come when price is going against the prevailing fundamental thinking.
 
I think a logaritmic chart would be more appropriate for a currency that changed so much.Can someone post the same chart in a logarithmic scale?
 
Quote from gmst:

Anyways, so we got triggered at 90 for 0.25% risk. Waiting patiently for more scale-ins.
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So, we managed to get one more scale-in (we were quite lucky as bid-ask on my IB account was 90.25-90.255) and my sell order got through.

So, 0.5% risk on the trade now.
 
Quote from gmst:

So, we managed to get one more scale-in (we were quite lucky as bid-ask on my IB account was 90.25-90.255) and my sell order got through.

So, 0.5% risk on the trade now.
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Cool. Are you sticking to your original plan (scale in to 94, stop 96, target 88) ?
 
Quote from murrica:

Cool. Are you sticking to your original plan (scale in to 94, stop 96, target 88) ?
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I am bidding 0.25% risk at 88 and other 0.25% risk somewhere below 88, if yen takes out 88 (and especially 87), then 'fade to the parabolic setup' will be over for the time being, as we would have seen a 4% correction.
 
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