USD/JPY Discussion

Usdjpy

The FED and BOJ trying to influence the markets? Seems this weeks possible range. With bonds dropping adding more downward pressure. Friday sell off in bonds is kind of a tell for a strong yen? Or will the market continue to be irrationally exuberant?









edit: When I look at the patterns formed above, with the FEDs activity in the public to contain inflation @2% was successful.

NOw with the Friday sell off in bonds, the FEDS is gonna want people to invest abroad. And thats exactly what we have seen in the speeches from the Fed officials. Promoting Japan as an example being mentioned from many different FED members.

The FED and BoJ will now being able to attain that, where we see the YEN got strong on four separate occasions. Fast forward to today, we see the same things playing out, except this time bonds have been contained at 2% but then continued to sell even harder last week, ending at 1.76. Will bonds recover? Not likely.

2008, 2016, and 2019x2 all over? Run for safety begins? who knows, but my money has been on it for some time

https://www.forexfactory.com/showthr...9#post12511229

@Amir

Amir, I have been playing around with harmonics (gasp) indicators. I put it on my XAUUSD chart because I have noticed that Gold and the YEN have both been moving USD/JPY.

This came up. Does this look accurate? From my backtesting it gives Gold the room to go up to 1664.85 before invalidating the harmonic.

Why is UJ keeps climbing up?

Because they are trying to trick you into abandoning your short, or worse. going long IMO. we were here before, so I was waiting for 108.175 to sell.

108.45 coming up again = Double top then the stop hunt.

add short 108.23 SL 108.45 TP 1.0744

108.6 safer. Better a wide stop than to give money away. You don't lose money until the trade is closed.

Yes, you are right. Thank you.

One of my position closed profit. the second closed 0.02

closed 0.02 price 108.24

Close profit

Hit as predicted.

...retracement Sell entry

worst ISM number since 2009

Thanks Market ! !

Well done matey! got in eu @ .89 and latest .05.

Thank you ISM lol

Bought around 107.7

stop under 107.5

target 108.5+

Going down to 106.95

Societe Generale Research discusses the BoJ policy outlook and maintains its bias for short EUR/JPY and short GBP/JPY exposure.

"The correlation between yen and the Japanese curve is something we are watching, but does a steeper and higher curve really undermine the currency? And is the BOJ really considering driving short rates much further below zero and causing more pain on the banking sector? In a country where the other side of the BOJ’s bloated balance sheet is a vast pile of excess reserves in the banking system," SocGen notes.

"Maybe the market is short enough of EUR/JPY that some position-covering is to be expected, but we're having a lot of difficulty seeing how the BOJ engineers a significant currency reversal from here," SocGen adds.