USD/JPY Discussion

Appreciate more than it already has - from 118.68 down to 106.67 or 1200 pips roughly. How much more?

My crystal ball, thumb in the air, blindfolded piñata swing says a similar amount more. Another 1200 or so.

But who knows?

What's the deal. I checked out your Demo trade account but don't see any trades in USDJPY. Can't bother to look at your chart pictures with out more info. Have no idea what your trades are.

The box is the trade. I wait for the breach of the first box after the bounce in the first box. I trade it to the second box, close the trade and reverse the trade back to the first box. The first box can be traded but the trade can happen real fast and I prefer to take the bigger trades.

Thanks. Looks good for Monday.

The nice thing about the USD/JPY is the correlation with the YM. The YM is sitting in its second box and will retrace back to the first box. So either chart may hold while the other completes.

Sorry not familiar with term YM can you elaborate.

/YM DOW Futures. Stock market.

[/attach] Thanks. Speaking of Dow, I set a trend line back in Dec. at 23258 figuring it was about to go down. Waiting to see if it will stop there or go further down. Maybe 21130 or even 19655. Those are still what I consider retracements and think it will then trend upward again eventually. This is a longer term prediction and there will be lots of up and down on the way. Of course this could do some damage to the economy and that could change everything.
Top is Monthly chart bottom is Weekly

good day everyone. eu is pushing down a little. might push ju up to 104.95-105.05 area ill look to short it up there.

i think it might go to 105.2 or 105.8, unless China says something negative regarding tariffs

sell limit filled 105.039 It is not perfect right now. i may have found it. time will tell

the harmonics from above have PRZ down to 103
there is some space if your game
personally waiting for a pending around 103.3 or will buy with PA

I must have been off a bit tp on the last short for 13 pips, lets see of it will get to 105.35 its the next spot for top. good luck everyone

Usd/Jpy falls into the range between 104.65 to 105.29 short-term, but the risk remains on the downside.

...

The Japanese currency began a new week with a decline, but Mizuho warned that this is a temporary phenomenon.

Bears on USDJPY decided to take a break after three days of the offensive, in which the pair appeared at a fresh multi-month lows, but currency strategists at Mizuho remind you that the appetite for risk amid the intensifying trade war between China and the United States is on the decline (and while the reasons for improving the situation in this regard is not visible), and the technical picture supports the view that there is potential for a further decline.

The Bank believes that even if the recovery and development, the correction is unlikely to be higher than 105. In their opinion, so far the risks have shifted in favor of a further fall in the direction of 103.60 (76.4% of the growth since June 2016) and 101.20, where the minimum achieved in November 2016 after the victory of Donald trump in the presidential election.

However, Mizuho does not believe that buying yen is a good idea, on the contrary — according to the Bank's strategists, the fall of USDJPY to 103 should be used to open long positions with the expectation of a medium/long term. Mizuho recalls that FOMC's latest forecasts are quite bullish, and the US economy is showing good results and will receive additional impetus from fiscal policy. The Bank noted that the fundamental reason for dollar sales is not noticeable at present, however, market concern is not they are not monetary policy.

Figured it out. Will leave you to your reactionary behaviors. Ciao! Happy pips for you, somehow.

The yen fell after the words of Munchina

The yen fell with US Treasuries after US Treasury Secretary Stephen Mnuchin said he was optimistic about the quality of the US to negotiate trade tariffs with China, which reduced the demand for safe haven assets. The currency of Japan fell against all of its G-10 counterparts after the Wall Street Journal reported that China and the US had quietly begun negotiations to improve access to Chinese markets, citing unnamed sources familiar with the negotiations. Futures for shares in the US rose, while the Australian and New Zealand currencies strengthened.

"Mnuchin said that he is confident that the US and China can reach a trade agreement, which has had a non-indigenous support to risky sentiment," said David Forrester, strategist for corporate and investment banking at Credit Agricole in Hong Kong. "Improving risky sentiment traditionally leads to a weakening of the yen."

The USD/JPY pair advanced 0.32% to 105.06 dollars after it fell to 104.56, the lowest level since November 2016. The pair lost 0.2% in early trading, as the stop loss was triggered at the break of Friday's low at 104.64, Asian FX dealers said, interviewed by Bloomberg, adding that the optional barrier at 104.50 remains untouched. The yield on 10-year US bonds rose by 2 bp. up to 2,8446%.

"We have a very productive dialogue with them," Mnuchin said in an interview with Fox News Sunday, discussing the talks with China. "I'm sure we'll reach an agreement."

Fordster said that the yen's losses could be limited after the last poll showed that the rating approved the actions of the cabinet of Japanese Prime Minister Shinzo Abe fell by 11.7 points to 32.6%. These are the results of the latest ANN survey conducted on March 24-25; about 48% said that the Cabinet should resign due to a scandal involving the sale of public lands in the educational fund.

Australian and New Zealand dollars are growing for the second consecutive day, which was helped by the improvement of sentiment towards risky assets. AUD/USD adds 0.5% to 0.7738. The National Bank of Australia predicts the pair fall to 0.7500 by the end of the year, while the average forecast of experts polled by Bloomberg agency suggests an increase of up to 80 US cents. NZD/USD climbed 0.4% to 0.7265. Kiwi grows as borrowed accounts intensified purchases after February's foreign trade data surpassed expectations, and politicians focused on a 2% inflation target, the Asian FX dealer said.

Agree with Plenov, I do. Treasuries incline has paused for now, which at some point will continue its track higher. For the time being, BANKs longing the YEN will take sometime off, we see that in the re-treat with short term bonds. Since the FEDS rate hike, 3-month treasury yields have retreated, expect the USD to gain some ground over the short term (2-5 days).

It looks the short trend will continue today: