USD/JPY Discussion

yes...i hate to trade pairs without real trending...side way is worse for my system...

I just sitting on the bench for JPY pairs to clear up

I will go short if it reaches 92.85 (last week's high) I don't think it'll break the upside. The yen is now directionless but still with a bit of bearishness in it. Let's observe.

Got my first "winning" trade with this pair. On my last/first attempt, I messed up something and it costed me.

Anyway, I noticed that on my 15 min chart the 200 EMA line was providing solid resistance for about the past 2 days. When the price was very close to this line, I shorted it figuring the trend had a strong change of continuing.

Set me auto-exit limit at 91.32. Hit it a few minutes ago.

range the couple of days ..

which way ?.. up or down ...?

can't make up mind ... will wait and watch ..

http://2.bp.blogspot.com/_8texnURUcC...oggerForex.bmp

drop down to 90.70... then possible buy at 90.70

USD/JPY overnight range: 91.25 - 91.62
EUR/JPY: 108.86 - 109.68
June 9 (Bloomberg) -- Risks to the global economic outlook have “risen significantly” and policy makers have limited room to provide support to growth, International Monetary Fund Deputy Managing Director Naoyuki Shinohara said. Most advanced economies are experiencing a “subdued” recovery, Shinohara said in a speech in Singapore today. “A key concern is that the room for continued policy support has become much more limited and has, in some cases, been exhausted.”

JPY: April machinery orders grew +4.0%m/m vs +1.7% expected.
JPY: Yomiuri reported new national strategy minister Arai facing false accounting allegations.
JPY: Financial Services Minister Kamei said government spending is needed to help the economy escape a “deflationary spiral.”

Overnight with risk and Dow recovering into NYC close started Asia began on a bid tone on. However Nikkei got hit from the open taking USDJPY and EURJPY down, 91.62 to 91.25 , 109.69 to 108.90 respectively. There were some bearish articles on the new cabinet on some scandal to one of the ministers secretary ( the usual scam). Risk was off briefly in the morning but again supported by some flows today, importers buying into fix and some big structure deal related USDJPY buying on our side. Range bound session overall.

I can’t see anything that is going to take us out of the bigger range of 89 -93 and for this week and today in range trade mode for dollar yen, I think we stay within 90.85 - 92.00. Eurjpy 110.25-30 seems to be pretty pivotal (114.00 - 110 had been the previous range). As long as we stay below here I think we see 108 where I hear there is a big stop then 107 and consequently people will start to talk about parity.

It's a thin market today. No action at all.

USD/JPY

The Dollar/Yen traded below 92.14 for the whole past 24- hours, and did not touch this important resistance. It also dropped to break the support specified in yesterday’s report 91.54, only to settle for 91.23. This very limited action, has postponed the excitement, hopefully for no longer than today, especially after a critical level has appeared this morning, catching all of our attention. This level is the support at 90.52. The reasons which makes this level a shining star standing out is that it combines the rising trend line from May 20th, with June 1st low, giving this level a double importance. But, before we can test this level, we need to break the intraday support 91.11. And if we do, we will drop to test this very important (and hopefully very exciting) level. Breaking here would have serious consequences on this pair, and 89.81 will only be a first & modest target for this break, on the way to lower levels. Resistance is at 91.67, and if broken, the important support test scenario will be void, and we will target 92.67 & 93.70.

Support:
• 91.11: important intraday level.
• 90.52: June 1stlow & the important rising trend line on hourly charts.
• 89.81: May 26th low.

Resistance:
• 91.67: the falling trend line from Monday’s top on the hourly chart.
• 92.67: May 16th high.
• 93.70: Apr 14th high.

USD/YEN is expected to swing and gain to reach above 92 area today.

I just woke up and this pair came alive! Now looking at 92.85 or 93.50 to go short. It won't see 95.

wait and see what happen

From the 30M chart, it's trying to break out from the channel to go north but it's climbing really really slowly

Not sure if I want to buy or sell

92.67/85 will be a tough resistance to break. I'm going to short at that price.

Hi guys,

Do you have an estimated timeframe for close approach to these resistances?

Thanks
::S

Not really moving up or down. Its going nowhere today.

The ratio of buyers to sellers for the USDJPY is 1.82
This signifies that there are 1.82 buyers for every 1 seller.

Retail positioning is a contrarian indicator so further downside is expected.
http://i260.photobucket.com/albums/i...20100609111010

The USDJPY is weaker and the EURJPY cross is unchanged. Japanese public finances are a worry, however JGB bonds are mostly owned by Japanese. The government wants a lower exchange rate and has warned the markets about the JPY. It also has been pressing the BOJ to promote growth.

I love the way the majors are clearly showing their intentions...

"I would also like to see this pair fell to 89, xx! "

If this really falls, the target will be to test the low of 88.12. The upside is limited by 92.67/85 (strong resistance). Now is still no direction.