USD/JPY Discussion

I am thinking if this thing makes it to 86 or 87, shorting there would make for a good long term trade. What do you think? Japan is only bark, no bite.

Yeah more like 84 - 89. The bastards!!

84 level is under attack. Is risk back on or just another bull trap?

have pending order to buy USDJPY in 86.2x ..preparing if BOJ intervene after euro market close ....

Its not an easy intervation having huge loads of wealthiest funds and banks unload their over-printed $ and force Japan to buy it..

If we can clear this 84.10 area I'll still be bullish to an extent, but the time will come when this is going to make a good short.

This is realy a war as JP goverment plays a very strong game trying to have some other big players to follow them at upward movement in order to avoid overbuying all those trucks of $ while Swish Gov and Maybe China unload $ as it is not considered safe as in old days...

Problem is JP Gov has to do it at this level if has to free its economy from the exported struggling , thus the short range movement today. Previous JP gov statements warned their determination to intervene and trying to pursuit following from key players and spread fears to those who short..

Heavy selling of 84.05 - 84.10 allready absorbed from BOJ and JP funds where they really play it hard, as it is their only way out...

On the other hand the downward pushing power is great with bank traders placing huge selling orders. If they execute orders for HUGE funds in strategic coordination to unload $ , like Soros stuff - attacking economies-- see Bank of UK case at 90's - It is going to be a battle at each level untill reach 86... If ever..

Who 's win?

There is a rumor that the BoJ/MoF will start intervening very much at 82.00 and try by all means keep $ above 80 Yen.

There is a head-and-shoulders formation (inverted) on the hourly USD/JPY chart around 83.5 level..

The 84.10 resistance seems to have been blown away...for now...perhaps the nulls are taking over?

A long way to go before we can call this upswing anything of significance, and getting to 85 will really be a test.....however, I have a long running, protected in profit. I wouldn't get too excited about this little run up though.......

hourly might go cyclic ....?

After a +30 pips movement, back from where we started, below 84.

If the yen is indeed topping, then expect more upwards pressure for UJ beginning in October, when repatriation flows end. More here: http://hubpages.com/hub/yenrepatriation

Yeah that's an interesting article that one.....it more or less admits that they cook the books, with the govt blessing!!

The damn thing missed my entry by a single pip

Looks like we going back to 84.2X-84.3X

EDIT1:
If the hourly doesn't close above 84, we could be heading back down to 83.54 or even 83.25. Just my opinion.

Hi,
Finally some movement on the damn thing. Should have waited yesterday

Anyways, I am looking to take a short at 50 for a few pips. Let's see if this works out.

I am still bullish. I believe it will clock 85.1X before tanking again.
Any body else holding UJ today?

Yeah I'm holding a long from 83.80

cool What's your target ?

100

I am thinking after striking 84.50 area, it could head back to 84.0X before heading back up. But hey don't let me get you nervous