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USD/JPY Discussion

  • #49,381
  • Oct 26, 2014 9:42pm Oct 26, 2014 9:42pm
Quoting tk5
currently, USDJPY developing (H4) a perfect Elliott wave and is heading to line 5. then it is to draw ABC to downwards... To me this pair will, for couple months, range between 105.500 and 108.500....Then another break up to 112.000!
Might be crazy but I think 105.50 area will be tested as well.
I love forex. One day it will love me back.
  • #49,382
  • Oct 26, 2014 9:44pm Oct 26, 2014 9:44pm
Quoting Singha83
{quote} Might be crazy but I think 105.50 area will be tested as well.
not before wed.
  • #49,383
  • Oct 26, 2014 10:49pm Oct 26, 2014 10:49pm
Price needs to break both of the support lines for a more convincing bearish short term move
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  • #49,384
  • Oct 26, 2014 11:22pm Oct 26, 2014 11:22pm
Ranging, feeling a break to the upside

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  • #49,385
  • Oct 27, 2014 7:53am Oct 27, 2014 7:53am
IMHO, USDJPY is more likely to decline towards 107.30
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  • #49,386
  • Oct 27, 2014 9:20am Oct 27, 2014 9:20am
Medium term views on $USDJPY if the very strong support zones around 106 hoold, charts are pretty self explenatory
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  • #49,387
  • Oct 27, 2014 9:21am Oct 27, 2014 9:21am
Maybe we shouldn't read too much on the pending home sales figure......

The pair is taking a short dip before the explosion by FOMC.....

Its part of the plan to cushion the volatile liftoff impact from the conclusion of QE.
  • #49,388
  • Oct 27, 2014 11:19am Oct 27, 2014 11:19am
Imagine the horror that will happen if fed continues QE
  • #49,389
  • Oct 27, 2014 11:22am Oct 27, 2014 11:22am
Quoting myelbow4
Imagine the horror that will happen if fed continues QE
that would make the dollar index rise or drop ? not sure
  • #49,390
  • Oct 27, 2014 11:58am Oct 27, 2014 11:58am
Quoting yeniful
{quote} that would make the dollar index rise or drop ? not sure
It would lower interest rate expectations and cause the dollar to drop. The recent US rally was caused by nothing more than hawkish testimony and speculation about QE ending and rate hikes coming sooner than expected. This makes it extremely fragile to bank policy, as we saw with the drop to the low 105's after dovish FOMC minutes and commentary from one of its members.
  • #49,391
  • Oct 27, 2014 12:17pm Oct 27, 2014 12:17pm
the market is planning for qe to slowly come to a stop by next year though.
if the fomc comes out as expected usd/jpy should go back on its way up to 108 and above then
  • #49,392
  • Oct 27, 2014 12:23pm Oct 27, 2014 12:23pm
It kind of feels as if announcement will end QE but there will be a dovish undercurrent. Therefore we may not get our U/J bull rally !
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  • #49,393
  • Oct 27, 2014 12:57pm Oct 27, 2014 12:57pm
Quoting yeniful
the market is planning for qe to slowly come to a stop by next year though. if the fomc comes out as expected usd/jpy should go back on its way up to 108 and above then
You're confused. The plan is to end QE this week and begin rate hikes within the next year. It's up to the statement on Wednesday whether they follow that plan or not.

Quoting san99
It kind of feels as if announcement will end QE but there will be a dovish undercurrent. Therefore we may not get our U/J bull rally !
Don't forget there is still the BoJ statement on Thursday/Friday regarding further QQE. This would definitely cause a rally in yen crosses if they decide to add more stimulus. Japanese stocks, of which the yen is simply a derivative, love free money.
  • #49,394
  • Oct 27, 2014 2:48pm Oct 27, 2014 2:48pm
i was confused. you're correct. qe is ending soon but interest rates rising is in a year or longer....correct. i still see usd jpy long as the correct play

nothing has shown to go short on usd jpy other than intra day for 30 pips here and there. it's still maintaining the 106+ level
  • #49,395
  • Oct 27, 2014 6:32pm Oct 27, 2014 6:32pm
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upside is coming..
  • #49,396
  • Oct 27, 2014 6:48pm Oct 27, 2014 6:48pm
Quoting Liam0530
{image} upside is coming..

Potentially
  • #49,397
  • Oct 27, 2014 7:01pm Oct 27, 2014 7:01pm
Retail sales yoy 2.3% !! FOMC set to be Dovish - could be heading down past 106
  • #49,398
  • Oct 27, 2014 7:02pm Oct 27, 2014 7:02pm
Quoting Liam0530
{image} upside is coming..
Data was pretty good from Japan, no reaction on fxmarkets..

could be a slow reaction coming...
  • #49,399
  • Oct 27, 2014 7:06pm Oct 27, 2014 7:06pm
Quoting Sh0ukaT
{quote} Data was pretty good from Japan, no reaction on fxmarkets.. could be a slow reaction coming...
yeah. usually is a slow reaction with Japan data, dont know why
  • #49,400
  • Oct 27, 2014 9:18pm Oct 27, 2014 9:18pm
at 9pm and still continuing, nice little push down, wonder why
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