USD/JPY Discussion

Attention is focused on Congressional testimony by Vice Chairman Barr (in charge of financial supervision) of the US Federal Reserve Board (FRB) regarding responses to financial system instability. I think that there will probably be no problem announced, and the value of the US dollar will rise.

Sold @ 131.89 Target 129.75


Closed at BE.. will look for sell higher

caught near the top. Think this one can go for a little ride down.

Short term short. 131.5 target. Small break before we go further up. Still holding longs.

I ended up closing at 1% growth. Can go a little higher based off htf.

Going long with a 24 hour goal of 133.00 to 133.50

A little bit of Friday fun and good vibes!

At the end of February I accepted an offer of "free money" from a broker named XM. I don't usually go for these kinds of promotions. But I thought it would be fun to try something new and pass the time between my usual boring trading routine.

They gave me 13489 JPY to trade with. I decided to aim for 5% 10 pip daily targets with a massive 50% 100 pip SL, compounding trade sizes as the account grows. The trade had to be roughly at the same time every morning (before the Tokyo open) and in the direction of the trend. Simple.

I started trading AZ but the spread was too big, so I switched to UJ.

The last trade of the month has just closed and the account is now doubled. Lets see how far we can take it! High risk so not recommended, but good fun to pass the time If you ever get the chance to trade a free account. I am also running the exact method on EU with another broker (HFM) and their offer of free credit.

Happy new financial year everyone!

PS, I did not highlight the broker names on my post, FF has done that automatically!

We expect the actual value of the personal consumption expenditure (PCE) deflator to be higher than expected and the dollar to strengthen.

Well I hope that YOU/THEM are correct. Staying long UJ

big gap up? market open at 133.5?

(ISM) The manufacturing business index will be the focus, but if the wariness of wage inflation recurs, the dollar will be bought.

The Japanese yen will not earn interest for some time.
⇨The value of the dollar will continue to rise.

Targets based on range from current weekly high/low.

Cheers!

next week should be a bear market for USD/JPY

NFP data has been released today, US strong job report creating odds for the experts so far, they are assuming strong job data can create a little bit higher inflation (as strong job brings money supply) that may be resulted in a 25 basis point interest rate hike on 3rd May. Before that Wednesday CPI data will be released - higher CPI data may be helpful for US Dollar for a short-term bull run.

So, what's next -
USD pairs will be affected, I think the correlation with gold is becoming lower.
The stock market may face bearish worldwide -

USDJPY price action ion the daily time frame is challenging the bearish attack on the 130.980/128.230 horizonal support zone (green), seen on the weekly time frame. There was a bullish rejection of the zone on February 23, but bears have been making a persistent attack on the zone since March 20. Recent technical prints with low wicks (bottom tails) may incentivize a southward liquidity sweep before any further bullish momentum. And for those tracking XAUUSD, this portends further northward move of XAUUSD price action before a southward rotation.

I may be wrong. Trade safe and prosper.

KP

Attached Image (click to enlarge)

#USDJPY / H4

All Aboard???!!!