USD/JPY Discussion

testing 98.82 high anytime soon.

My few yens in UJ analysis.
98.50 is a confluence of fibo wall (5/6). It acted as support and resistance twice. Since yesterday, we are clearing this level (98.50/98.70) for a healthy upside move I believe.

It was a bad day :-(

98..... reachable!

Hope so... eventhough i know hope can kill... I short @ 98.64 with SL +1 pips. GL

Gidday YEN masters

Yeah a we bounce would be nice

the random retraces are hard to read

as you can see the YEN can drop like a stone.

Keep saying next time up

I will clear this chart.

But that won't happen because I am

a greedy peasant.

I trade small amounts when things turn to custard

At some point this will climb:nerd:

97.5 perhaps.

h4 short still strong, h1 still strong. hope to reach 98

98.82 here we go again. chance to short @ 98.88 or 99.00???

Exactly the opposite direction.. Hope to entry at some point.

Damn thing shooting upwards i think around 80 pips still going upwards now as i type this towards the 99 but i'm not banking on it going upwards too much longer. It's going to disappoint like the few upshoots the last few days.

let me tell you it will just hit the 99 and maybe shoot up a bit before going downwards hard again.

It definitely won't stay up beyond 99 for long. So fuck this.

Damn I was just going to buy more UJ and then it rockets up to 99 hitting resistance

Kyodo news: Japan stimulus steps to have pledge to study corporate tax cut

Yen is mystery pair.. You do not surprise if UJ at 100 or above..

An update from my post from yesterday on USD/JPY. Wave 'c' took the form of a contracting ending diagonal that could have probably ended at 98.26 - Ending diagonal formations consist of a series of overlapping waves and also tend to retrace themselves in a swift fashion. So given the bottom is likely in place, price should abruptly bounce toward 99.17 first and then move higher in an impulsive fashion (5 waves) towards the initial target at 100.17 - I'm long at 98.50 with a stop loss order at 97.75

Cheers!

All yen pairs shooting upwards now yen is weak now. Quite an interesting move. All the bears with their SL on the 98 all got taken out. Anyone on bulls now?

no idea how to get the screenshot to display..

if i draw it like this, does it mean anything... ? just asking.. =x

Flash:

News story released regarding government instructions to BOJ and semi-governmental firms to buy USD/JPY on dips, also possibly to buy Nikkei (USD/JPY positive).

This current move may have legs, Nikkei rallying on story.

That's right it's like being a gambler trading this pair. Much like football betting just choose long or short put in entry and go do something else. All this analyzing is just a waste of time.