USD/JPY Discussion

So guys what do you think any chance to go up, because I am stuck with long position

I guess now it should move up.. there is strong support at 107.45 area. This should make new high from here.. else atlist 109.96

Definately a shakeout by market makers. Just look at GBP/JPY, which made a breakthrough for the bulls just recently. This is a bit too steep for a 3rd wave correction, and given the contradicting nature of the JPY news as of late (which favors non JPY currencies), we're going to see it go up soon.

The only question is, how much margin should we leave? 100 pips? 200? My margin dies at around 170pips.

morning guys, been following discussion for quite sometime so i had to drop a line

last couple of sessions on 4h was really confusing, but since this pair move strongly with dollar index , i always keep that chart open , btw since august da only thing is not killing me from bordrom(beside scottish vote) is the mighty USD but since market is angry at da feds so back to confusion

now just checking dollar index , seriously i dont know where is it going , daily done forming bullish hammer and if it closes up weekly S1 then back to the dream of 112 and maybe more , but again feds really really angered da markets so dollar should go down , so im staying on da sideline for awhile

im a fulltime so im totally glued to da screen


sorry if my first post here is long bt its just my cents

happy trading day ppl

im long too.. from 108 .. im iffy now, not too much news coming up next week that can cause nice up spikes, (sellers continue to short) but this 107.6 area is a big support, on my Personal Analysis i see about 2 support lines intersecting this area, one coming up across the daily chart from may 2013, that it broke through and should be support now (or a fake breakout), and another coming down from jan 2002 which is broken through and should also be support (or also a fake breakout) if it breaks down past 107.6 it should make way to 107.3, and 107.0.. SHOULDNT go any lower then that, if it does

fundies all point to north, but a correction was definetely needed, so 107.0 should be a nice correction, big boys are talking 105.7 but i dont know about that..

lets see what the f happens

funny shit is what the minutes said is everything we all know already, its all bullshit

USDJPY is daily level reversed.

Here's what it is for me: My first thought is that this is a bear trap on the daily BO and it'll continue higher. That would be typical for JPY. On the other hand, I'm eyeing the 105 area as a dearly needed correction, but the entire way down I'd be looking over my shoulder watching the BoJ with their finger on the button . . . waiting . . . waiting.

Wave c of correction [iv] targeting near bottom of minor wave (iv), before resuming uptrend.

That was a good call. I learned something there, cheers.

will the dollar pull a CLUTCH move now? end the week on a nice note?!

Hourly chart is range trading between 107.60 and 108 (excluding whiskers). The break from that range will tell you what happens next.
I am long and just waiting. If your leverage is high then it might get painful, if your leverage is low then it becomes frustrating - but there are things you can do about it such as trading the opposite direction on another pair.

when do you expect it to rise to previous highs (110?) ?
Where is it save to put SL if I go long right now? under 107.000?

107.70 becomes an important support level for USDJPY. A close below 107.70 can call for the pair to test 105.50 again.

What is wrong with that USD/JPY ? Dollar index rising, eur/usd down usd/cad up even with very good data from Canada and usd/jpy folling down.

closed my eur usd out , quick 1k for the week , but still down on my usd jpy from 108.0

i dont really understand why usd jpy is dropping right now, then again i expect it considering this wild ass pair, i see that BoJ easing still in full effect, rate hikes still in view of same time frame, only thing i can think of is this is just more pullback before the shotgun shot up north to make new highs maybe next week and definitely the following week.

i have a buy limit order at 107.5 also, ill have another one set up maybe at 105.5 depending how we open up on sunday.....

lets see what happens, i love my job :nerd:

good weekend folks

WASHINGTON, Oct 10 (Reuters) - Bank of Japan Governor Haruhiko Kuroda said there was no gap in views between the government and the central bank that a weak yen was positive for the world's third-largest economy.
He also appeared unfazed by recent sharp declines in global stock and crude oil prices, saying that the rise in market volatility was likely temporary and came from a very low level.
Kuroda said that while a weak yen boosts exports and revenues at companies operating overseas, it hurts consumers and service-sector firms by pushing up import costs.
"Taken together, a weak yen is positive for Japan's economy as long as it reflects fundamentals," Kuroda told a news conference on Friday after attending a Group of 20 finance leaders' gathering.
Kuroda has repeatedly said a weak yen was beneficial for Japan's economy, which had historically suffered from a strong yen that hurt exports and aggravated deflation by keeping import prices low.
But Prime Minister Shinzo Abe has recently said the government must be mindful of the de-merits of a weak yen, paying heed to growing complaints from lawmakers that the yen's sharp declines were hurting small firms and households of their constituencies by pushing up gasoline and raw material costs.
The slight difference in tone has led some market participants to believe the BOJ and the government were sending conflicting messages on how they perceived the effect of the weak yen on the economy, a view Kuroda tried to dispel.
"I don't think there is any difference in views," he said in a joint news conference with Finance Minister Taro Aso, who also attended the G20 meeting and directly oversees currency policy.
Aso declined to comment on the exchange-rate moves.
Aso and Kuroda were both optimistic about Japan's economy, stressing that it was continuing to recover moderately from a temporary slump caused by a sales tax hike in April.
"The effect of the tax hike is ebbing. With the job market strong and household income rising, consumption will gradually rebound," Kuroda said.
Kuroda also said sharp falls in oil prices were beneficial for Japan as the country needs to pay less for its huge oil imports.
"At this point, I don't think we need to worry too much about the rise in market volatility from low levels," he said.

and so it closed at 107.64

there is still bearish trend. no show buy signal

and will see 106.7 soon

Its all about risk on/off...look at any of the yen crosses the last few days, ECB not adding more stimulus, IMF growth forecasts=equities,commodities,risky assets,carry trades DOWN, S&P 500 timidly broke a support friday. If risk aversion really gains traction it doesnt matter what the BOJ does or bad data from japan, you name it/jpy will go down, next to really fall will be the GBP/USD and aud/USD(true risk aversion trumps interest rate expectations or differentials) because the dollar is a safe haven, just not against the yen...of course this hasnt really taken off YET, keep your eye on S&P, and the NIKKEI especially, but I like to watch all equities for confirmation,.hope this all helps!