JPY Cross Pairs

Positions are now in profit

....

Thanks man. Let's see next week. Have a nice weekend!

You too!

Gidday

My 2 longs look sad

because I have been bad

Yeah all this hype

sneaky grasshopper takes a massive dump

in the middle off night.

thinking i might have to short,to hedge

Or Suck it up like a real trader

Thought 95 would be good to long again

But you guys talking way down

I'm also underwater with a few of my positions as well, it's part of the business. However, I wouldn't hedge at this level with any sell positions as 95 did hold nicely as support.

What we saw today was a healthy correction, definitely not any major sellers when observing the price action. Also, trend is still intact.

Next week should be an exciting week! If you are able to hold that is your best bet, but make sure you stick to your money management rules at all times.

Gidday

End off week

I should have grown a pair an shorted 96.5 US/JPY

Just entered a pending long 94.5 TP 97.5 TP

The old dog has a few tricks up his sleeve

It might take a couple off days

No pain no gain

Have good weekend everybody

Japan to Join Trade Talks as Abe Defies Key Voting Bloc

Japanese Stocks Rise on U.S. Jobless Claims, BOJ Nominees

Japan Reflationists Score Biggest Win as Kuroda Confirmed

Japan parliament approves BOJ leaders; focus now on policy

By Tetsushi Kajimoto
TOKYO | Thu Mar 14, 2013 9:55pm EDT

(Reuters) - Japan's parliament approved Haruhiko Kuroda as the next governor of the Bank of Japan on Friday, paving the way for more vigorous monetary stimulus sought by Prime Minister Shinzo Abe as part of his economic revival plan.

Abe won power in December promising to end two decades of economic stagnation with reforms, big government spending and aggressive monetary easing. He handpicked Kuroda, 68, a vocal advocate of greater BOJ stimulus, as the bank's new chief.

The parliament's opposition-dominated upper house also approved government nominees Kikuo Iwata and Hiroshi Nakaso as Kuroda's deputies, a day after the trio sailed through a vote in the lower house where Abe's ruling party has majority.

Kuroda was approved in the upper house with 186 in favor and 34 against, and Iwata won approval with 124 in favor and 96 against. Nakaso received 199 ayes and 22 no votes.

"We want the BOJ to press ahead with policy steps to achieve its 2 percent inflation target as early as possible," Chief Cabinet Secretary Yoshihide Suga told reporters, adding the government would work closely with the central bank.

The focus now shifts to what action the BOJ will take at its first meeting under the leadership of Kuroda, a former finance ministry official who has headed the Asian Development Bank for the past eight years.

Kuroda's pledge to "act with speed" and do whatever it takes to hit the BOJ's new inflation target has some investors speculating he may summon a meeting even before the next scheduled policy review on April 3-4.

While such an unscheduled meeting was considered unlikely, BOJ officials were nevertheless preparing just in case Kuroda decided to call one, people familiar with the central bank's thinking told Reuters.

SECOND VOTE

Under relentless pressure from Abe, the BOJ decided in January to switch to open-ended asset buying from 2014 to achieve the 2 percent inflation target as early as possible.

The central bank has agreed to buy assets or make loans totaling 101 trillion yen ($1.05 trillion) by the end of this year, part of which includes buying government bonds with a maturity of up to three years.

Kuroda and Iwata, an academic, have said the BOJ should buy government bonds with longer durations than it currently does to expand its balance sheet and boost inflation expectations.

Nakaso, a career central banker who is more conservative than the other two, has supported more asset purchases, saying the BOJ has more room to ease and should be open to new ideas.

With parliamentary approval secured, the trio will succeed incumbent Masaaki Shirakawa and his two deputies after they step down on March 19.

But while Iwata, 70, and Nakaso, 59, will start their five-year term, a procedural quirk caused by Shirakawa's decision to leave together with his deputies, three weeks early, means that Kuroda will first serve only the remainder of his predecessor's term until April 8.

He will have to be voted in again for the full five-year term probably early next month. Opposition Democrats, who have 87 seats in the 242-seat upper house, have said they were backing Kuroda in the first vote but had yet to decide whether to back him for the five-year term.

The Democrats voted against Iwata because of his support for calls to revise the law that guarantees central bank independence from government influence, but votes from smaller parties secured his approval.

EUR/JPY bounces after 150-pip drop

FXstreet.com (Córdoba) - The euro saw an over 150-pip slide against the yen after failure to overcome the 125.75 area and mixed US data put the cross under pressure during the New York session.

EUR/JPY reversed intraday gains and turned negative by falling to a low of 124.20, before finding support and bouncing slightly. At time of writing, EUR/JPY is trading around 124.50 where it records a 0.4% daily loss.

As for technical levels, next supports are seen at 124.20/10 (intraday low/200-hour SMA) and 123.80 (Mar 8 low). On the other hand, resistances are now seen at 125.77 (intraday high), 126.00 (psychological level) and 126.55 (Feb 13 high).

USD/JPY falls to 1-week low

FXstreet.com (Córdoba) - The US dollar extended losses versus the yen during the NY session after the latest string of mixed US data gave sellers an excuse to sell the greenback.

USD/JPY accelerated lower on the break of the 96.00 support area and slid to a 1-week low of 95.28 before the 200-hour SMA offered support. At time of writing, USD/JPY is trading around 95.50, down 0.6% on the day.

In terms of technical levels, on the downside next supports are seen at 95.28 (200-hour SMA) and 95.00 (psychological level), while resistances could be found at 96.25(intraday high) and 95.60 (Mar 15 high).

USD/JPY Suffers Worst Loss Since February

Losses in USD/JPY are accelerating since the drop below 95.40.

The sell signal for the pair was the inability to rally on the votes to approve Iwata and Kuroda. Although it was mostly expected, the news should have added some upside to USD/JPY. Instead it was flat and that warned the bulls to take profit.

There is support at 95.00 followed by 94.77. The order board shows some demand at 95.20 and 95.00/94.95 with stops below. EUR/JPY shows some demand at 124.30 but bigger orders are around yesterday’s low.

Biggest Mover In The Forex Market This Week: AUD/JPY

AUD/JPY is the best performer this week, gaining a whopping 2.78% or 263 pips.

The drivers for the rebound in the Aussie this week were the RBA decision to leave rates unchanged and the slight beat on GDP. The yen, meanwhile, continues to crater.

The weekly chart shows a bullish reversal after last week’s drop below 93.00. Resistance is almost nil until the 2008 high near 104.50.

http://www.forexlive.com/wp-content/...13-330x235.png
AUDJPY weekly

I’m not terribly bullish on the Australian dollar but it’s a difficult currency to bet against (considering the carry) and it’s shown some resilience this week.

Antipodeans Part 2: AUDJPY Highest Since August 2008
By David Horton || March 12, 2013 at 05:48 GMT

…and that’s when it was in the early stages of the big slide from approx 104.40 to 55.00 !!!

The high overnight was 99.60; many of the big banks have had a target of 100 + and we will no doubt see that off and open the way towards the earlier-mentioned 2008 high and who knows ? perhaps the 2007 highs that were a whisker below 108.

See the weekly chart:
http://www.forexlive.com/wp-content/...py-330x252.png

ATR in Pips (90 Days)

EUR/JPY: 153
GBP/JPY: 152
CAD/JPY: 100
AUD/JPY: 97
NZD/JPY: 91
USD/JPY: 89

my arty analysis. Small blue pattern will be repeated in larger red version, assuming small uptrend ended with large down monday. If so target 150 - 160 in aujy is reasonable. I still think there is high chance of decent bump at 100 to get rid of longs. See how we go but this thing is strong !

Here is a perspective of Yen value versus a Currency Trust, The Proshares YCL on a 4 hour chart. Could be some more retracement (Yen Strength) until we reach a point of True Value (VWAP and Moving VWAP) then a resumption of the overall trend. I am interested in knowing when we will see some buying come back into play as someone will see Value in the Yen. Just a thought put into a visual display.

sjc

YCL Weekly shows quite a lot of room to work with to either side, Buy or Sell.

sjc

USD/JPY

Weekly Chart: As can be seen from the 1st chart 94.70 has acted as significant support / resistance in the past. Now that price has broken though this area it should act as good support.

Daily Chart: 94.70 is right where the 20 EMA is. Notice how price tends to respect the 20 EMA more than not. However, when deeper corrections / pull backs occur the 50 EMA will also act as excellent support / resistance which can be seen on 2-25, 2-26, and 2-27.

Hourly Chart: Price bounced very nicely at 95.09 but if we see a break of current support then I would expect 94.70 to be the last area of support before resuming its very strong uptrend.

Needless to say I am still bullish on USD/JPY from a technical and from a fundamental perspective.

Curious to hear other's thoughts and opinions. Thanks!

adjy 100 effect sooner than expected. High bid 99.96 on my MT4.

This is over now.

I will take next buy signal and not worry about adjy = 100 anymore.