USD/JPY Discussion

I think 99.93 is the number to watch. If that holds, we are going lower.

Selling off now like you said. I knew price would struggle once under 99.55. Personally I'm not ready to be a bear. I need to see this down move continue for longer than 8 hours before I start selling. Maybe the bears close the week under 98.80 and then I'd feel comfortable taking shorts.

I was going to post my USDJPY 4HR earlier as it was showing bearish signs, but thought I'd be labeled as a flip flopper so I decided not to, but what the hell here it is.

Has Kuroda spoken?

No idea.. UJ is swing now dance lol

Hmm, shorting here based on bearish 3hr signal.

1st TP 9920 - 9900

Things prob. won't start moving until 3 AM.

EUR/USD will prob. be in focus.

"Obviously, there will be both upside and downside risks to economic activity and prices going forward. The Bank will examine those risks carefully and will not hesitate to make adjustments as appropriate, should circumstances warrant." so the effects of recent move must be studied.

"Looking at recent developments in economic activity and prices, it seems that the conditions are being prepared to demonstrate the effects of the quantitative and qualitative monetary easing through the three transmission channels that I just mentioned." so at least enough for some time now.

"For instance, if the growth potential of the economy rises as a result of monetary accommodation as well as appropriate fiscal policy and the growth strategy, its currency could appreciate rather than depreciate." and "Indeed, Japan's economy has shown some bright signs of picking up. Going forward, we expect the economy to return to a moderate recovery path against the background of firm domestic demand and a pick-up in growth rates of overseas economies." so JPY will continue appreciation on its own.

"I believe that the international community shares a common understanding on these points." it shows that international financial community is concerned about Japan easing and they care therefor it won't be a one way bet.
Good luck all but you must be careful if you want to short JPY.

It seems there are buyers at all Levels. Personally I don't expect a big Retrace.

'It will be 100 because it is 99.90' aso

That would be nice if it would be so easy..

This is my 4th 50 pips plus in a row, playing it back and forth,
till the majority here waits to see 1500 or so.



Happy waiting.

Taking profit here, after a looong 8 hours later.

May rise back up to 9950 - 9970 from here...

will 98.9 hold as support for today

Hmm probably, unless we see some last minute action.

M1 ATR at 19 ??!

Means a lot of action at the moment

bears have come into play and we might see 98 level as retracement by monday asian open .

Interesting Reuters story on currency diplomacy.
US growls quietly at Japan, turns a blind eye to China.

http://www.reuters.com/article/2013/...93B12E20130413

China has grown rich playing another game. Japan may hear a quiet growl from Washington. China could not give a flying f__k what the US thinks about currency manipulation. Funny.

96-97 is coming

I also think this pair is destined to go lower next week, but hard to say if we'll get all the way to 96.

99 is the 50% Fib for last weeks range...making it a level of confluence and attractive for shorts. Control risk and reward takes care of itself.

Gidday Traders

The YEN masters playing games,it really does make sense to me.

These YEN retraces can be nasty

as the peasants are all holding longs

me included.

Next time up I will take some profit

thinking these retraces are forming a pattern

so we should get plenty of chances to get back in.

lol, if I am considering shorting YEN pairs heavy, its probably going up, ...

lol, 500 green pips in 8 hours. sometimes it goes your way