USD/JPY Discussion

What do you think about this? USDJPY is trying to break the 38.6 level. Is it going for the 50% level?

I am already short USD/JPY a day ago at 112.92...Don't think that it will push further in the retracement..


Thanks,

Nader

you're still in the short? i hate loosing money in carry-over for the weekend.

I expect the fall will resume at around 114.15.
But, i think being short from 112.85/90 with SL 113.15 is still worth of risking 25/30 pips.

in long usd/jpy @ 123.25

in since 119.8

any idea where it might go?

to 125.72?

i think
mabe 124 +
but I don’t have a big experience it just how I see it in my eyes

do you still think the dollar will head towards 125 still. or could we be looking at a turnaround at about 124extreme. by next week.....the feds are done raising rates/

There is no guarantee that the Fed is done raising. In fact I *think* they will raise at least 25bp more, if not 50bp before this tightening cycle is over. The BoJ, on the other hand, doesn't seem to have any reason to raise and even if they do, the long term effect on the currency market will be but a blip on your charts. The only realistic positive for JPY at this point seems to be news relating to China, such as further tightening, investment controls/taxes, or a serious widening of the CNY trading band against USD. Any combination of these occurrences would most likely see JPY gain some value as a result of risk aversion (investors scrambling to exit their JPY funded positions, similar to March 2007) as well as an increase in Japanese exports which would become more competitive if the yuan is allowed to appreciate.

I think will be turaround at about 124 , but I think It worth to look on it for a possible new high even if it wont happen and will be some small ( - )
My st : 122.80

So nobody is looking at 150.00 yet in 2-3 yrs.

yet i see no real turning point in price action, maybe there is some light at the end of the day

Do not have the statistical probabilities on this but the UsdJpy normally retraces to atleast the 23.6 level of the weekly highs and lows. Obviously there is a very strong uptrend.

Second week of the year it moved 263 pips and retraced to the 23.6 fib that week and the following week and continu.ed up with no more retracement.

I've heard or read? 128 being mentioned....

Of the previous 23 trading weeks not counting this past week it has retraced to the following fib levels. This past week is not counted yet because the weeks fib levels pretain to the following week.

short uj @ 123.40.

Hello .. I'm new to FX. Would you mind telling me what indicators prompted you to say.. short uj @ 123.40

it just looks like it will drop. besides i have sl set at .50 so i can't lose much.