USD/JPY Discussion

Big news week ending in NFP.

So could well end up at 76.60 It would be good if the market gets it there for month end to force the new boys hand.

Studies back on, less time to participate in discussion.

Tomorrow we will have Japanies Monetary Policy Statment, there is a chance that they will announce buying foreign bonds, which in my opinion, would be new, and quite interesting and probably more efective way to weaken the yen!

They also may wait untill G7 meeting and state something interesting there!

Form technical point of view no resistance at 78.12-15 became a support and next strong resistance as between 78.30-40. After breaking it, we may go to 78.70-80 and then 79.00 followed by 79.2x. Otherwise, falling below 77.92 woulb open the way to 77.50 again!

- ADP figure:

Good US data boosting U/J, 78.40 taken, now next stop is around 78.70-80. Moving slowly and steady up, without big harsh moves like last times, mayby we are facing more solid reversal atlast!

I have been waiting for that up trend for 2 weeks. But guys, be aware that the NFP number might take all those gain back if the data are negative

i heard big us banks and swiss bank bought JPY crosses. We are all higher now.

68.2 fibo retracment lvl broken from last fall of the U/J, now important is the trend line, which should make resistance around 78.70. If broken, we could see 79.20 again. Tonights BOJ meeting will tell us more!

Who thinks we have seen the high and the market will want to test the BOJ and the new boy for the fiscal year end?

A lot depends on payrolls tomorrow i know.

Don't think so, it is dolar, which is getting hammered down, not the yen gaining, so it because of the weak dollar, and ofcourse getting near the trend line. Other yen pairs didn't get much lower it may be a short correction of last movement. And beside payrolls the BOJ meeting may be the most important thing tonight!

TA - cross 20/200 EMA on 4hr tested

I see that too, nice...

so this pair is using usdx for direction. Waiting windfall moment to get in

[quote=sidhujag;6071654]so this pair is using usdx for direction.


...and what does usdx say?

it exploded ! :/ all my cash almost gone

Anyone trading this pair? Will it go further for the rest of the day?

spoony im trading this pair and wondering the same it is up against a trendline it needs to break to go up in my opinion

Not my favourite pair for trading in a very long time. Even when it hits lows where the BoJ is sure intervene, other pairs almost always yield better results. Since it didn't break through the trendline today, even with stellar (if someone dubious) US economic data, I'm inclined to think it's going back to the bottom of the channel.

Long-term, I'm long EUR/JPY as a generally reliable pair with significant upward potential. Over shorter time frames I prefer the risk-on Yen currency pairs (CAD, AUD, NZD), many of which seem more likely to break out of their trending channels (though I'm happy to wait and see what happens first).

Does anyone know if there is an active universal Yen-pair forum, or perhaps a risk-on and a risk-off Yen-pair forum? I've done a search but I haven't found any as of yet.

- U/J M5:

- Need to read views:

- http://www.zerohedge.com/news/2012-1...ys-jobs-number


- http://www.actionforex.com/analysis/...0121005175867/

Slowly up the stairs and quickly down in the elevator.

Risk off and the market wants to test the boj and get it near the lows for the end of october.