USD/JPY Discussion

USDJPY - Buy

Psychologically, investors will likely buy the US dollar, which has a higher interest rate than the Japanese yen, and the exchange rate will move towards the 150 yen to the dollar mark.

If it doesn't break the low M15, there will be an opportunity to buy.

USDJPY price action on the daily time frame is operating in a rising channel (purple). A bearish attempt to break down the channel has been resisted by bulls. But there is minimal northward move. Presently, price action is sideways a few pips above the lower channel line. We should await what price action does at Monday close.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

Down 300 pips already and this week is just starting

It is rediculous. I analyzed the moves a bit... it seems BOJ always try to kick out the carry traders - especially over night in Europe/US. Probably low volume?
After kicking them out they let i rise again. Same over and over. But today I got them. Just 20 minutes ago they did the same. -I bought almost at the low. Now it is going up (wow, who could imagine that??). Not even a small retrace down lol.

The problem BOJ has is they trade more and more on their own, hoping for more fresh money to pick up here and there. They spended again few billions since one week to push USD/JPY down. But I have to admint, they were smart in the 150's area. They sold a huge bunch and recovered it very fast (they helped to recover it) doing that at least 8 times. Why? Well, they shorted in that area -and try to fool the participants, which were laughing at the BOJ. (well, me too) - until the move in the 140's began. So know they sit on a bunch of short from the 150's area, recovering a bit of the shorts but all in all they are in the minus - if they would buy it back now.

It is sad to watch but fun (well, most time...) to trade and to get the carry trades anyway . - even if they managed to kick me out also 2 times over night. But that's the game.

I just read up how much Japan spended to support the yen since april: They say it is about 100 billion dollars... holy cow. That is about 20% of the yearly income of japan(!!)'s tax revenues.

The avg. price of USD/YEN in that time was 146... so exact the level where we are now. Expect more worse entry of BOJ due to push down. Currently floating with 100 billion dollars BOJ is probably only little in depth on 146. But the problem is: IF the market goes up again, they are in big trouble. If they are smart they try to unwind lots of shorts now. If USD/YEN goes up again on 170 they lose 20 billion dollars. That is hurting but it would be ok. The problem is the long term situation of Japan. I really wonder how long they still can play that game which they now play for years already.

European investors seem to be buying yen at the start, but I wonder if they are not getting the latest information on Japan. Being in the opposite direction to Asia, Europe and the US will force them into a tough situation.

Going all in here @145.30 for a lottery ticket back to 160.. stop loss 143.00.

Ride or die.

I'm waiting. I see DXY going down to 100.600 & UJ going down to 140.500 before any chance of bouncing back.

USDJPY - Sell

Depending on the FOMC minutes released in 5.5 hours, the value of the dollar may rise.

https://fx-rashinban.com/b00001-JPY/...2f17%92%a9%81j

Still very comfortable with my 145.30 entry. Not selling till stopped at 143 or profit at 160.

While I'm scared, I went back saw something on my charts from when I went to sleep last night. Seeing what I did, this move down not totally surprising, but again was sleeping so couldn't do anything about it. I think/hope this 144.50 area holds.

I bought at 144.7 and also had Support at 144.5 which actually seems to be holding. Resistance is around 152. Playing it safe would be taking the profit as soon as the price is above 150.

I think so, too.

Added more at 145 and will keep adding all the way up to Heaven. If it turns south I'll dump all shorts.

Everything looking good, hopefully get a decent move to the upside here before the week is over? It would definitely relieve some anxiety lol.

I think we could see 148 before week is over.

USDJPY - Buy