USD/JPY Discussion

I’m bullish until 108, then I will try to sell

me to and higher.. hope u rite

I believe 107 wont be touched this this time.

it will break 107 noobs

Gonna hit it hard if it starts to fail at or around that point

Are you sure?

It will.Its building a support here before it shoots higher

next time

it was not only break it but go much higher

booked one position at 6.95

Well maybe I'm wrong but I see usdjpy dropping more than 100 pips, also gj and ej, to be honest I see usdjpy going to 105,4x or maybe lower

yes maybe my daily chart is wrong

but i do see that wedge on m15 and m30 so it can drop some

In today's trading session, the upside has continued at 107.00 after falling to the downside channel ceiling. If the pair could cross the resistance at 107.00, it could be expected that the bullish rally would continue to reach 107.50 and the resistance zone would be 108.50-108. 00. In contrast, if the Rand resistance of 107.00 will keep its position, the pair could return to the channel's ceiling. If passing through the channel's bottom and the average rate of 106 50, we will see a fall in the parity rate of 106.00 and 105.65-105.55

SHORTING @ 7.10

Weekly

Short now 107.07

Last 5 Hours UJ not moving up Waiting for NYO open or it is reversing possibly

bear trap, only short from higher levels around 108, even then, that could be risky

Reasons:

1. NFP is expected to be good this week
2. Market is not so worried about trade wars anymore since the White House said that tariffs are only a "negotiation tool"
3. A NAFTA deal is expected very soon
4. Companies will post their first quarter earnings soon and the market is expecting good figures, which will benefit stocks and USD/JPY
5. Nothing from the BOJ to strengthen the YEN, they want it weaker and 110 is a level that companies in Japan would be happy with according to the BOJ

http://www.boj.or.jp/en/statistics/tk/yoshi/tk1803.htm/

6. Former FOMC members are dovish and they didn't agree with four rate hikes due to inflation concerns. The market was paranoid about rising inflation and the possibility of four rate hikes, which resulted in YEN appreciating against the USD
7. The COT report for last week showed practically no divergence between commercial and non-commercial positions, which is an extreme, and that could reverse to benefit USD/JPY