USD/JPY Discussion

Hard to say about tapering. Majority of economists still believe there won't be a taper. Granted job numbers were great, but you have to remember inflation. On the other hand, US numbers are getting better. Many leading banks predict a great 2014 year for the US economy. Maybe Bernanke will step down credited for the better economy and leave on the note of a taper. Maybe the Fed will rather wait before tapering. At this point we cannot truly know. I think ill just wait instead of taking chances on this one.

Let me just add that if price falls lower I will take a long. 108 is definitely a number we may see this next year if things don't change drastically. Just don't forget, don't set stops too tight or you do run the risk of being stopped out, that is unless you were just betting on Fed tapering and ignoring the more larger picture.

You are correct, no one can know with 100% accuracy where price will go for sure. That is why we must keep up with changing market conditions. Cut your losers and ride your winners until conditions change. Don't just target a set price, not long term at least. Valid point man.

Doesn't anyone think a taper will be bad for dollar yen ?

If s&p falls on taper then dollar yen will probably follow initially?

Hello Yen masters

These random pull backs

been caught quiet a few times with over loading the YEN bus

Whats happening are we headed below 102 for a bit

What happened to the moon mission

Daily candle closing above yesterday's low and above November highs. /ES looking a bit weak now while U/J is set up for some buys. For the next 4hr candle, I'm buying at 102.60 with a stop at 102.45.

Im also buyed, at 102.65...can you please tell me what is your TP? im loking to retest the 103

We might not see 102.60 again zus. :/

why you think that?

Before the FOMC statement that is...it seems that the markets have already factored in no tapering. (Hence the markets completely ignoring fundamentals) Its getting choppy again you might get in!

Tibi -

No TP, just look for price to continue up into Fed at 2pm New York time so you have some cushion if Bernanke kills U/J or a huge winner & possibly position with longer term trend potential. Shorts positioned themselves last night, bulls should be positioning themselves tonight, and then Fed hits tmrw.

Its about to cross your entry point SO CLOSE

Would think UJ is ready to go up pretty soon and test highs. But it is looking like it wants to head lower first. Still waiting for a high probability long set up...

Can't be too far away.

It did not want to break through 102.6 support level and completely bounced. You got your entry though! yay

My computed level is 102.36...

If we can get to 102.9 next to break 103 again to retest some highs! LETS GO!

PULL YOU DAMN BULLS! HARDER but steady! Don't want to lose steam too fast

Good job getting long there guys.

I'm flat rest of my shorts @ 102.80. Have to leave office... and I want no part of any surprise FOMC tomorrow.

Almost to 102.9 if we can make a break(close above) 103.xx is in the near future

Very nice bounce off 102.60 and a good close to the 4hr candle near the highs. I'm looking to buy again should we dip to 102.78, with a stop at 102.60. Moving my current buy position's stop to breakeven.

Breaching 103 is pivotal!! SO CLOSE!