USD/JPY Discussion

https://insider.thomsonreuters.com/l...MmI0MmU1NGI%3D

Anyone speak Japanese?

he said it's a great opportunity to short UJ
BOJ don't support longs anymore

Just entered short. (Kidding).

im also watching wondering what hes saying, watching price action

Hello Yen

Went back at 117 with a few jumbo whoppers

back to small ones after these are out

118 would be very nice:nerd:

Good idea. Price action should reveal. I doubt he said anything to strengthen JPY, but seemingly made no earth-shattering decisions to further weaken either.

Yes I dohttps://encrypted-tbn3.gstatic.com/i...DCbRuRD8RyqhMA

one too many glasses of sake?

Have a feeling past 117.5, price to going to rocket up.

Can't say when it will happen. But there is a feeling that all round there are too many USD longs.

You know the saying - when everyone has bought nobody is left to buy, (and sell vice versa).

I am observing there is more and more pressure for the USD longs (all around) to have a severe choking.

USD JPY in particularly has been going up too big too fast. I observe many people saying, rocket to 120 rocket to 120.

But remember the market correlations also. Also, note there has been no bad geo political news for some time. Too quiet.

As they say, when long enough time goes on, something is around the corner.

I am not certain when the "big recoil" will happen. History shows it usually happens after a major last ditch rise (which has not happened just yet).

I am not expecting UJ to pass 119. But I am expecting it to pass 118. But not before a lesser pull back which I am expecting any moment.

On a side note - I am not expecting the Fed to raise rates ever. Not ever. Only talk. The system cannot be fixed now. (long story - keeping on topic here - however as you can see this relates to the US dollar demise when people give up on fed talk - the market is first Psychological - but fundamentals catch up - The fed can no longer inflate the economy - they therefore can never raise rates - they are trying to talk everything to fix, they are completely aware that talk affects things, completely, but so long as they cannot inflate the economy, the failure of fundamentals will result in a major backlash when the faith in the talk is lost - I am adding this as this is important for you forex traders to know - as the us dollar is rising on expectation only, yes the data is improving but that too is in response to faith in fed talk, as more companies gain confidence from the idea that if rates can rise, things must be going ok - as I said its a long story - but never forget - that rates make forex, and expectation is priced in, if the expectation fails, so does the the priced in reverse, the expectation is that the us rates will slowly increase little by little, this is what the us dollar is rising on - this is never going to happen, ever. Not just that, the fed do not want the us dollar to rise, nobody wants their currency to rise, because that favours companies (the rich) (but not the consumer another long story))(essentially the ultimate thing is this - know the big picture - trade on the trend - ie. the delusion, but be prepared when reality bites)

Agreed with you bro..

No indicator,news indicator,fundamental analysis report,financial analyst can tell you how far it will go? this is an uncertain business.

short 117.46...

That's funny..

What is your reason for your short? You are betting the 117.5 will hold?

I once saw 16 reds in a row on a Roulette table. BOJ is like a casino owner to where they call the shots. Everyone else is taking a guess

I stopped trading on yen pairs because once it start fall there will be no return. So no more mid-long term opportunity

We could pierce 118 today if the FOMC minutes continue to be hawkish. Then again, it feels very probable they could voice concern over the rate of the dollar's ascent since ending QE, which would push back rate forecasts.

Stay on your toes for this one.