USD/JPY Discussion

This is good buying opportunity.Overdue correction,maybe a bear trap.I dont think UJ is bearish yet.

you can see 1h channel still not yet broken that's why the dollar is still strong but I expect the channel to be broken soon

look at the big picture we still didn't break the major falling trend back from last year

so the plan is 1 more drop to make a new low in DXY I am looking to 86 or 87 perhaps it can reach more god knows. but if it reach to 87 I will begetting ready to buy anything with dollars because I will be targeting a new up move to 114 to 115 DXY which will make dollar king again

Edited *

My chart shows a retrace to 109.35/45 and then a leg down to 108.50 (1st) and then 108.00 (2nd).

On the sidelines until (perhaps) 109.35-45 is reached.

TP hit...

H4 is about to close sitting on support trend line.
it might close around 109.13.
The high volume says to me that support will hold.
let's see.

looks like it stalled out at 109, not good for bears

Pretty good retracement. Opportunity to BUY.

860 point move, the bears got today, hmmmm

Upset today, bears are not!

not upset

Im looking for bullish movement

Best to play it safe , avoid bear trap at 109. 109.5+ for shorts us session see it move today .

Interesting to see if 109 rejects the push again. If so my bet is up atleast for the short term.

I have a target around 113 level.. there will be my shorts.

My charts show three possible resistance/test areas --

Short term @ 109.80
Medium term @ 111.00
Long term @ 113.90

I'm being deliberately picky with my entries this, so I'm only looking at what would appear to be big levels.

If UJ falls to 108.75 after NFP, I'll take a long and ride it as long as the market allows.

How I see current picture (1 hour):

...

Continue to repeat itself, history will. Hmmmmmm. The odds say so.