USD/JPY Discussion

US10y yield above 2.5% and looks very bullish :

Hey guys so my short made a few pips but it didnt really move like expected...seems you lot were right its heading back to test 103

jobless claims would also set the tone for any movement today although I don't believe that any bad number would ruin the present uptrend.

Well its retested now as we speak, im now with the rest of you its got to break it and hold.

number is bad but..UJ is rising ??

Number isnt bad or good. It's as expected. The big move is waiting until NFP.

I'm still holding shorts.

same question

102.96 not gonna make it imo

close to expected 301k, but if it was < 300k that it would be a good number.

The news feed on my broker gave the expected figure as 305k, so if that is any more valid than the number on the FF homepage it was an improved figure against the expectations.

Also MicroSoft yesterday announced a large down-sizing. Not sure if that is enough to make a difference.

edit: maybe it was the employment cost index which made the difference, up is inflationary.

Have been long for size since 102, plan on holding until 108. Long EURJPY from 137. US economy doing pretty well, rates finally on the move. Sleeper story is the big shift in Japan sentiment


Japanese Economy Under Siege- http://trendersgame.com/2014/07/31/j...y-under-siege/

nice article mate

agree about the article, solid observation.

Medium term is clearly bullish according to fundamentals and the article, however this large GDP move I think is due to correction since FOMC is clearly not hawkish by now. I dont usually check the weekly time frame but have you all seen that massive divergence? it is the only thing that keeps me on hold about thinking of an overall medium term bullish tendency. I just triggered a short at 102,94 anticipating a weaker NFP.

[quote=smash1820;7641650]{quote} Incorrect. The technicals can NEVER be blown... like Pharmor said. Even during the most fundamental scenarios, it is impossible for the technicals to be incorrect. At best, a fundamental event will change the technicals, in which case, you must re-evaluate the market... but the technical picture is never wrong.

Is kind of what I mean mate, yesterday´s GDP just blew the technicals and at that moment they completely started an adjustment so taking a decision based on them at that time would not be correct cause the market just made a strong "awkward" movement and any technical can keep the pace. Im not saying they dont work, a different thing are psychological levels I think.

Still in range

Waiting

USDJPY all the way to 106 as first target and 109 as an extension to complete fifth cycle , buy any dip and keep adding to your position.

Just my opinion

Good luck tomorrow gents, for those of you that are long, you may want to check the weekly chart, we are at the top of the range since Dec last year.

Also, daily RSI is the highest it's been since December of last year as well.

Just some info you may want to take into consideration if you haven't already.

Ok guys, I am considering a hedging position.
I am long half a lot in UJ and half a lot in EJ, and I'm thinking about a short on EU before the NFP.......?

Why would that be an hedge position ? If the NFP comes out positive then most likely U/J will skyrocket, E/J shoudl Follow to the upside and EUR/USD will fall ~
There might be more focus to average hourly earnings today as that's what Jelen highlighted as an important factot.

Not much to be worried about if You're bullish on USD/JPY atm
https://www.tradingview.com/v/6VBgLXGZ/