USD/JPY Discussion

Price rejection after price rejection ... the story of this pair. Today is no exception, again fierce rejection of 77.00. This, in my opinion,has nothing to do with healthy pullbacks, this is plain and simple selling bounces. Saw the same things happening each and every time this pair tried to bounce.

Prefer to play Eur/Jpy, which imo, has more upside potential. Mr Bernanke's testimony yesterday left hardly any room for interpretation ... US econ is like a dead man walking. This is new territory for policy makers, time for experimenting, time for another round of money printing.

As usual, just my 2 cents !

Trying a long again @ 76.71

76.77 broken, now 76.82 again



ps DPP now also @ 76.82

You watch the shop freiburg, getting tired

still holding longs from 76.20...
but scalp long every low...
UJ treat us well
green pips to you

welcome to dojiville, enjoy your stay....

USDJPY Daily Outlook
My Signal Indicates potential break down soon,I am hope am wrong..lets see

cls this pair long @ 6 pips TP. far cry from 30 pips high.

scalping small pips will be best option right now amid the volatility for the moment.

Is this pair still alive ? Hasn't moved more than 4 cents in 5 hours.

nice catch that 76.20 holding, best way to threat this lady

placed another entry-long @ 76.70 for possible Franky fake, prob no sense but never know, was almost in....

I have been long since last night....didn't take profits earlier today so am still long just above break even....tired pair. Hoping to move up soon!

[quote=USD-Bear;5016711]placed another entry-long @ 76.70 for possible Franky fake, prob no sense but never know, was almost in....

got that 76.70 long, prepared with full armor again

Move will entirely depend on Boj taking action or not.

Today is the 10th day in a row where the low of the day is higher than the low of the day before. As you know, several weeks ago I discovered a channel for UJ that seemed pretty significant to me. You can see on the first chart (H4) how price is respecting the bottom wall of the channel as we climb. I believe this channel is very significant and here is why: On the second chart (Monthly going back to 1990) I show the same channel on the right side. I have drawn paralel lines and placed them on the three previous UJ bull trends. As you can see, the angle of ascent is pretty close to those lines. This is the way UJ moves, it creates simmetrical "V" formations with precisely this angle on all of them.

Please, let me have the benefit of the doubt for a minute and let´s believe that this channel will be the path UJ will follow to 120 or above. Here is a simple low risk strategy that could make everyone loads of money in the next 4 years:

1- Decide on the size of the initial UJ position.
2- Divide this position in part A and part B.
3- Open a long position with A and hold it indefinitely. Keep raising your stops 50 pips below the bottom wall of the channel as we go up.
4- Open a long position with B and trade it repeatedly between the walls. Buy around the bottom wall and sell around the top wall.
5- Since we are leveraged, use profits to increase both A and B as price goes up.

There will be times, when price will climb considerably higher than the top wall of the channel as you can see on previous moves on the monthly chart. The width of the prior moves is wider than our channel, so you may want to hold on to the trading half longer than the top wall in some instances, with a trailing stop, of course.

This strategy was used successfully by Dennis Gartman and many other pros to profit from the extended rise of gold recently. They established the channel and followed it for years.

There is a chance that even the BOJ is behind this misterious channel. I´ve noticed clear and sudden price rejections every time we come near the wall. But whether they have decided to make this their line in the sand or not, it is worth paying close attention to it while it remains intact.

Of course, I am following this strategy and so far it has worked like a charm, especially on part B of my position, which I have traded for nice profits within the channel.

Good luck, longs!

latest trend line broken.
76.60 is out of my longs for me, being lower low

Testing uptrending trendlines is healthy and in normal circumstances not a prelude to lower prices. However, testing these lines too often increases the risk of a serious blow lower.

From a TA perspective Eur/Cad/Aud appear to be in a healthier state than the Usd pair.

I've placed a couple of entry buys at 76.57 and 76.44 respectively.
76.57 coincides with the daily S1 and the ascending trend line.
76.44 is at the weekly S1 looking to clear stops below the trend line.

USD/JPY H1

Attached Image (click to enlarge)

This fosking guy. What the fosk is up? Hehe. Hello everyone.

We might break down at least below around the trendlines area for today..again,hope am wrong

Daily support trend hold beautifuly so far