Yen Update (USDJPY, EURJPY, GBPJPY & AUDJPY)

Hey guys, i can't believe my eyes right now, but i'm up 715 pips in 20-30 min. Went allin short at 98.91, 98.80, 98.79 .... and it's looking pretty good right now. I'm thinking that this pair reached a huge resistance at 99 and it should go downhill from now on. Placed a TP at 97.. maybe it's a little too much profit but i'm goin in for the big WIN or a Big LOSS.. i'm kind of a noob, placed some trades a long time ago, but got tired of scalping for single digit pips... if i make this trade happen, i'll retire for at least a year. Is this too good to be true? advice? comments?

update.. --- i'm up over 1200 pips in less than an hour.

i went for short and it's currently looking good. TP still at 97 but thinking of taking some profit at 98 (if it reaches).

Asian session usually goes into a downtrend, your trade should be good until then. Keep your eyes peeled when london begins.

BTW, thats 120pips .... u mean 1200 pipettes

oops 120 pips.. 1200 ... lol.. noob mistake...

thanks for the reassurance...

It seems to be breaking to the upside, a break of 98.85 should signal a uptrend. lets hope. im long with a tight stoploss.

Yen: Dollar-Yen pair took resistance close to 99 levels (55 Weekly EMA) and is trading below it. The charts indicate slight upside and holding below 99 can bring a pull back upto 97 levels (21 4-hourly EMA). The outlook for the pair would become bullish above 99 levels targeting 102. (USD/JPY 98.32).

still going short.. sold some more at 98.56 and it's currently at 98.34...
im 200+ pips with this pair tonight.

a rangebound day yesterday on the dollar-yen

Yes UJ is destined to be rangebound. All bullishness of friday was being absorbed yesterday. It was a time to take your long profits and position yourself for downside.

it has some direction now.

should reach 96.35 50% fib retracement of 21st May by end of week.
IMHO.

GBP/JPY's break of 158.56 minor resistance suggests that pullback from 160.44 has possibly completed at 154.85 already. Intraday bias is flipped back to the upside. Further break of 160.44 high will confirm recent rise has resumed and should target 55 weeks EMA at 162.21 next. On the downside, below 156.61 minor support will indicate that fall from 160.44 is still in progress and argue that a short term top is in place already. Deeper decline could then be seen to 150.86 resistance turned support.
In the bigger picture, there is no sign of topping in GBP/JPY yet and the rise from 118.81 might extend further. But after all, there is no change in the view that such rise is merely a correction in the larger down trend and hence we'll continue to look for reversal signal as GBP/JPY is now staying in 155.88/167.34 resistance zone (38.2% and 50% retracement of 215.87 to 118.81). On the downside, break of the trend line support (now at 147.90) will be an indication that whole rise form 118.81 has completed and focus will then turn to 143.00 support for confirmation.

eurjpy got intraday bullish too. im waiting a break of 137 again

USD/JPY's break of 98.03 minor support, with 4 hours MACD dragged below signal line, suggests that an intraday top is in place at 98.87. Bias is flipped to the downside for some pull back, possibly to 4 hours 55 EMA (now at 96.79). But downside should be contained by 94.44/97.25 support zone and bring rally resumption. Above 98.87 will target 99.71 next and then a retest of 101.43 high.
In the bigger picture, recent developments indicate that price actions from 99.67 are merely consolidation in the larger up trend from 97.12, probably in form of a triangle. Hence, current rise from 93.84 may be limited between 99.71/101.43 resistance zone initially and bring another fall before resuming the rise from 87.12. Nevertheless, sustained break of 101.43 will indicate that whole rally from 87.12 has resumed and should target 110.65 resistance next. On the downside, a break below 93.84 support is needed to invalidate this bullish view.

GBP news in 10 mins... should pump up the volatility of GBPJPY. my bias is long and maybe hit 161.xx soon. lets hope.

looks like moves for the day are almost done. maybe a consolidation phase from here.

does anyone thing usdjpy going to go up today?

It look like usdjpy are unclear sight... don't know whether it will bullish or bearish... anyone see other sight where the market go?

Past few days it is showing good bullish support. So I am not putting shorts on this.

Thanks.. I am using Elliott Wave n Fibo.. It shown to bullish also.. but i am concern about Friday.. Anything can happen in Friday..huhuhu.. Any fundamental analysis today?