USD/JPY Discussion

This chart is for you DHT so you can understand why I'm still going long on this pair and cascade opening every time when I see drops like this. If when it dropped from 96 to 92 pushed to 99, now after this drop from 102 to 98 I'm waiting the 106 level with more confidence .
The 261 Fibo level was breached and confirmed + the penetration into the Kumo so this 2 together + the strong fundamentals help me understand the mechanism behind this tricky pair .

Cheers,
VladG

You miss my point. Camp three: there is no trend to befriend, looking for other pairs.
Yes, there's a lot of "theory" about how to trade ranging markets, but I prefer a trend.

Vlad,
As always, I wish you all the best
Even a broken clock is correct twice a day...

Or 95% in the last 7 months, wish you the same !

Cheers,
VladG

adding to long yen across the spectrum (short pairs) on key level failures

Life is great when things go according to plan..patience seems to have paid off for me..i think I'm finally getting the hang of this..thanks to all of you whom I've been snooping around learning from

Added on my USDJPY longs at 99.982 after this nice news

USD/JPY has turned around after a Reuters report that PM Abe will urge the nation's public pension funds to increase their investment in equities and overseas assets as part of his growth strategy. This is huge news. Public pension funds currently have Y66tn or $660bn in Japanese government bonds. The market cap of the TOPIX index is only Y385tn. That would totally swamp the stock market. So diversification must mean in particular putting more money abroad. That could easily push USD/JPY upwards, considering the size of the money they are talking about. That may be where the connection with growth comes in: a way to weaken the yen. The BoJ buys the bonds from the pension funds in its new expanded QE market operations and the pension funds use the money to buy overseas bonds instead. That way, the government can’t be accused of intervening in the FX market directly to weaken the yen. If they announce concrete investment targets for foreign assets, USD/JPY could move substantially higher. Of course at the same time, if the government pension funds aren’t buying the government’s bonds, who will? Again, it’s the BoJ to the rescue. Monetization of debt. This makes the idea even more bullish for USD/JPY.
The news led to a rebound from 99.35 support, driving the pair towards the 100-mark, as can be seen in this 1-hour chart. As anticipated, the violation of the 100-level led to a breakout to 100.35 resistance. A breakout from this level sees resistance thereafter at 100.80 with strong, tested resistance and trendline resistance levels coming in around 101.35. A strong close today may trigger simultaneous bullish crossovers on both the RSI and the Stochastics, paving the way for a rally to 102.00. Support below 99.35 comes at 99.00, the 50-day MA and spike trendline support that holds since November.

Cheers,
VladG

"Failure is not fatal, but failure to change might be" - John Wooden

Out of curiosity DHT, what is your ROI in the last 4 months ?

I'm convinced that wave counting does nothing for what's going on with jpy pairs..I'm seeing the best way to deal with this manipulation is basic support and resistance and candlesticks

potential tweezer reversal forming on H1 bars (and H4 if this keeps up)

Citi likes stronger USD/JPY but technicals pivotal

Analysts at Citigroup remain upbeat on USD/JPY saying it may rise to 102. In a Bloomberg interview, chief FX strategist Osamu Takashima said a rebound in the Nikkei and US/Japanese yields point to a rise.

In the short-term, however, he is watching the baseline of the Ichimoku cloud at 100.38 today. The high so far is 100.42 but he warns it’s become resistance and a failure to close above it could point to a near-term test of 97.35, where there is a convergence of support.

http://www.forexlive.com/wp-content/...-4-650x422.png

http://www.forexlive.com/blog/2013/06/04/citi-likes-stronger-usdjpy-but-technicals-pivotal/

Top Trade Idea for June 4th, 2013 – Long USD/JPY
By Todd Gordon Of TradeAnalysis.com
The world’s attention has been focused on the massive top that’s been forming in Japanese equities. Lower Japanese stocks have impacted western equities, commodities, and most certainly the FX markets with an exclamation market next to the Japanese yen. But, before we get too carried away with this supposed top in the Nikkei, we must remember to trade what we see, and not what we think.
http://fncdn.marcwaringventur.netdna...0413Nikkei.png
For full trade idea and set-up. click here.

the dow is about to fall.
i'm sure.

how sure are you the UJ will follow ?

just look at the correlation between them over the past several weeks and you will have your answer...

they are sync just 30-35% of the days....

what about now. ?

correlation appears to be intact so far... but things can change quickly...

DHT is the question too personal ?

you make me laugh buddy!

no the question is not too personal, but it certainly it isn't something i wish to share on a public forum!

pm me, i'll clue you in