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USD/JPY Discussion

  • #46,481
  • Jun 2, 2014 11:46pm Jun 2, 2014 11:46pm
Quoting Forexia
While Japan is on QE working on reaching 2% inflation target until 2016 or when 2% inflation target is reached and QE is lifted, whichever is earlier, JPY will be weak and I agree all JPY pairs trends will be UP. They will go down from time to time but the overall trend will be UP.
Exactly. That is why you can call me a "perma bull" .
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  • #46,482
  • Jun 2, 2014 11:52pm Jun 2, 2014 11:52pm
My view of the JPY/USD is negative. The softening in growth momentum in Japan is the main area of focus for me. I have a cautious assessment of conditions in Japan this quarter, and I am even less confident about prospects for the next quarter. This is a time for taking defensive action, which is unfortunate because this phase of the cycle often lasts quite a while. It is certainly not a time to take undue risks on the JPY in this market.
  • #46,483
  • Jun 3, 2014 2:12am Jun 3, 2014 2:12am
JPY started strengthening heavily after the Average Cash Earning tested the highest level since May 2012. The M30 chart of USDJPY broke steep ascending trend line support, signaling towards 102.25 (23.6% Fibo level of its 101.48 – 102.42 up move), breaking which 102.15 can become good support for the pair to test before it plunges to the confluence of support signaled by another ascending trend line and 38.2% Fibo level near 102. On the upside, sustained trading above 102.35 can fuel the pair towards 102.45 and 102.50 levels.
Attached Image (click to enlarge)
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  • #46,484
  • Jun 3, 2014 3:38am Jun 3, 2014 3:38am
so sad,maybe im just the one who stubborn n believe this pair would go down before reach the sky.. just curious about this move.. lets see.. the target is 101.85 area..
the true currencies here is patience and react precisely
  • #46,485
  • Jun 3, 2014 6:22am Jun 3, 2014 6:22am
Quoting MyOpinion
USD/JPY crazy bullish right now, went long at 102.20 earlier with stops @ 100.80 . looks like its preparing to move into new range 106.65+ but i will take most profit @ 104.60 area {image}
It,ll be like tokyo drift
Good luck anyway
Heed the lessons of failure.
  • #46,486
  • Jun 3, 2014 9:38am Jun 3, 2014 9:38am
I think this bull is gonna come down but not sure now is the time reached 102.49 high anyone going short atm !!!
Heed the lessons of failure.
  • #46,487
  • Jun 3, 2014 9:46am Jun 3, 2014 9:46am
im short usd/jpy and nzd/jpy searching 102 and 85.80

Regards
  • #46,488
  • Jun 3, 2014 9:58am Jun 3, 2014 9:58am
Short placed, target 102
It will go down hopefully before the week ends
  • #46,489
  • Jun 3, 2014 10:21am Jun 3, 2014 10:21am
It is horrible, but it could start somewhere some war...and dollar will fall as apple from tree
  • #46,490
  • Jun 3, 2014 11:12am Jun 3, 2014 11:12am
Might be too early to go short
  • #46,491
  • Jun 3, 2014 11:25am Jun 3, 2014 11:25am
90% of the time she lives spike look for the spike or Harry top
  • #46,492
  • Jun 3, 2014 12:15pm Jun 3, 2014 12:15pm
Today this pair is no play. No big movement. It might continue to inch up but will be very very slowly and possibly even retrace a bit. All in all, today's not a spike day for UJ. And I find when you are trading on a non-spike day, it's very dangerous.
Make your losses in demo. Earn your profits live.
  • #46,493
  • Jun 3, 2014 12:48pm Jun 3, 2014 12:48pm
Quoting mied
so sad,maybe im just the one who stubborn n believe this pair would go down before reach the sky.. just curious about this move.. lets see.. the target is 101.85 area..
i'm stubborn with you. Still aiming for 100.3
  • #46,494
  • Jun 3, 2014 12:53pm Jun 3, 2014 12:53pm
Quoting barrett
{quote} i'm stubborn with you. Still aiming for 100.3

Haha that would be lovely
  • #46,495
  • Jun 3, 2014 1:04pm Jun 3, 2014 1:04pm
Quoting Forexia
Today this pair is no play. No big movement. It might continue to inch up but will be very very slowly and possibly even retrace a bit. All in all, today's not a spike day for UJ. And I find when you are trading on a non-spike day, it's very dangerous.
I agree with you
  • #46,496
  • Jun 3, 2014 1:09pm Jun 3, 2014 1:09pm
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpg Size: 194 KB

I see possible reversal at 102.70 ABCD + sma
  • #46,497
  • Jun 3, 2014 3:42pm Jun 3, 2014 3:42pm
Quoting sergo
{image} I see possible reversal at 102.70 ABCD + sma

Looks like an inverse H&S? on daily chart looks better.
  • #46,498
  • Jun 3, 2014 3:56pm Jun 3, 2014 3:56pm
To me, it looks like a bullish set-up:
Attached Image (click to enlarge)
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  • #46,499
  • Jun 3, 2014 4:11pm Jun 3, 2014 4:11pm
Quoting tsorin
To me, it looks like a bullish set-up: {image}
Really depends how you draw the trendline. Everyone has got a different one it seems
Here's mine:
Attached Image (click to enlarge)
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  • #46,500
  • Jun 3, 2014 5:09pm Jun 3, 2014 5:09pm
Attached Image (click to enlarge)
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and this is how I do it
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