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USD/JPY Discussion

  • #51,601
  • Nov 25, 2014 5:53pm Nov 25, 2014 5:53pm
boring movements today.. dont know whats holding it from getting into 118 range
  • #51,602
  • Nov 25, 2014 6:00pm Nov 25, 2014 6:00pm
Yeah who knows.....should have took some profits at peak. Now we sit and sit.
  • #51,603
  • Nov 25, 2014 6:04pm Nov 25, 2014 6:04pm
Quoting poseikwame
dont know whats holding it from getting into 118 range

  1. everyone and their dog'n'cats' belief it will reach the magical 120 tomorrow
  2. abenomics etc in spite of doubt
  3. there are signs of some shift in the usd
  4. this.

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  • #51,604
  • Nov 25, 2014 6:14pm Nov 25, 2014 6:14pm
It is crystal clear that BOJ will do whatever it takes to prevent the yen from devaluing further or else ABE will risk losing support and lower house seats in the coming election.
  • #51,605
  • Nov 25, 2014 6:15pm Nov 25, 2014 6:15pm
close uj +50 pips and waiting 119.
I will try to sell one in cad / jpy
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resilience....
  • #51,606
  • Nov 25, 2014 6:21pm Nov 25, 2014 6:21pm
Quoting pohchuan
It is crystal clear that BOJ will do whatever it takes to prevent the yen from devaluing further or else ABE will risk losing support and lower house seats in the coming election.
the abroad journeys got quite expensive for them lately and they love it sooooo much!
Attached Image
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  • #51,607
  • Nov 25, 2014 6:30pm Nov 25, 2014 6:30pm
Pattern reverse this evening. Declined during asia session. Should see a nice pop here
Good luck and may the odds be ever in your favor!
  • #51,608
  • Nov 25, 2014 6:33pm Nov 25, 2014 6:33pm
Quoting dbutton1990
Pattern reverse this evening. Declined during asia session. Should see a nice pop here
Do you see any near term downward movement?
  • #51,609
  • Nov 25, 2014 6:34pm Nov 25, 2014 6:34pm
Quoting Oser
{quote} Do you see any near term downward movement?
Not unless we break 118.70
Good luck and may the odds be ever in your favor!
  • #51,610
  • Nov 25, 2014 6:39pm Nov 25, 2014 6:39pm
Quoting dbutton1990
{quote} Not unless we break 118.70
Descending Triangle here?
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also on G/J
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something to consider? I dunno....
  • #51,611
  • Nov 25, 2014 6:40pm Nov 25, 2014 6:40pm
Quoting pohchuan
It is crystal clear that BOJ will do whatever it takes to prevent the yen from devaluing further or else ABE will risk losing support and lower house seats in the coming election.
koruda didnt comment on specific FX levels, or the daily moves, and Abe did say that the (0vernight) waterfall of the yen was unwelcome, but not to the point where they will intervene... main target is 2% inflation above anything else... these comments by officials will just cause pullbacks but not reversals imo

weak yen has positive effect on economy such as boost to exports, and profits of globally operating firms, but on other hand it also weighs down on household income, and small business profits..... pros and cons but i dont think it is going to be intervened in a tremendous way, just balanced, as it has been...notice the drops when good data comes out (BALANCE)

japan is only halfway to reaching BoJ 2% inflation target.. got long way to go.....
  • #51,612
  • Nov 25, 2014 6:43pm Nov 25, 2014 6:43pm
lets see if this holds
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  • #51,613
  • Nov 25, 2014 6:51pm Nov 25, 2014 6:51pm
Quoting Liam0530
lets see if this holds {image}
exactly.
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  • #51,614
  • Nov 25, 2014 7:04pm Nov 25, 2014 7:04pm
Let's see UJ would break below 117.50, may suggest that a correction is in action.
  • #51,615
  • Nov 25, 2014 7:21pm Nov 25, 2014 7:21pm
The running up to the snap election maybe the best time for a correction.

Depending on the election result, am sure it will blast up or down to new level. Sit tight and bucket-up.
  • #51,616
  • Nov 25, 2014 7:22pm Nov 25, 2014 7:22pm
not looking good!!
  • #51,617
  • Nov 25, 2014 7:25pm Nov 25, 2014 7:25pm
some BOJ guy due to speak in 5min
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  • #51,618
  • Nov 25, 2014 7:26pm Nov 25, 2014 7:26pm
We are holding at 118.70. Wait for an hourly close below this level
Good luck and may the odds be ever in your favor!
  • #51,619
  • Nov 25, 2014 7:27pm Nov 25, 2014 7:27pm
Quoting MaryJane
some BOJ guy due to speak in 5min
ohh nooo!! not again!!
  • #51,620
  • Nov 25, 2014 7:28pm Nov 25, 2014 7:28pm
Quoting dbutton1990
We are holding at 118.70. Wait for an hourly close below this level
If 118.70 is rejected this time we have a triple bottom. Also i believe this will complete the reverse head and shoulders pattern on the one hour
Good luck and may the odds be ever in your favor!
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