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USD/JPY Discussion

  • #53,981
  • Dec 22, 2014 7:16am Dec 22, 2014 7:16am
120 12 20
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  • #53,982
  • Dec 22, 2014 7:52am Dec 22, 2014 7:52am
Anyone still thinking that UJ will descend to 117 region before the year ends?
  • #53,983
  • Dec 22, 2014 7:57am Dec 22, 2014 7:57am
Quoting Vermillion
{quote} 119.60/50 will be a key area. Honestly, the initial 30~60 minutes on Sunday session will determine whether I can make profit (or at worst case, break even) or lose out on this short. I'd keep a close eye on sunday if I were you.
Looks like it will test out the 120 level sooner than later. If it can't stick the landing then maybe a little pullback.
Soar on my wings, you'll touch the hand of God, he'll make you King.
  • #53,984
  • Dec 22, 2014 8:00am Dec 22, 2014 8:00am
Just follow the price and dont do any prediction...keep cut your loss if wrong and take your profits with 1:2 RR or more and you will be fine
  • #53,985
  • Dec 22, 2014 8:01am Dec 22, 2014 8:01am
I like that ...
Quoting Fx_Anil
120.30 becomes immediate resistance level for the USDJPY. {image}
  • #53,986
  • Dec 22, 2014 8:19am Dec 22, 2014 8:19am
Quoting DailyChart
Just follow the price and don't do any prediction...keep cut your loss if wrong and take your profits with 1:2 RR or more and you will be fine
This is wise not like those who think the euro or the dollar is their favorite football team they should support even when losing
  • #53,987
  • Dec 22, 2014 8:32am Dec 22, 2014 8:32am
VS NIKKIE
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  • #53,988
  • Dec 22, 2014 8:33am Dec 22, 2014 8:33am
according to this
http://www.yellowfx.com/usdjpy-forec...l-analysis.htm
USDJPY might touch the 124.00 Level
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  • #53,989
  • Dec 22, 2014 8:48am Dec 22, 2014 8:48am
Quoting Fx_Anil
120.30 becomes immediate resistance level for the USDJPY. {image}
It appears the round number of 120.00 is the resistance for UJ. Price action today has been fairly respectable. Hopefully most traders will take advantage of the price action and not take swing positions.
  • #53,990
  • Edited 12:26pm Dec 22, 2014 11:37am | Edited 12:26pm
119.96, 119.98.... 120.01...
120.00? 120.00??

Are we having a go on 120.00?

119.86...

Maybe not today...
If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #53,991
  • Edited 2:04pm Dec 22, 2014 12:50pm | Edited 2:04pm
Quoting pohchuan
Anyone still thinking that UJ will descend to 117 region before the year ends?
Quoting whatever007
Don't really see much of a reason for pullback this week, maybe back to 118. This is the most bullish two weeks for the market. The UJ has been moving lock step with US stocks all year long. Looking for 120 plus, maybe even a new high.
Quoting vnkingfx
{quote} short at 119.3x tp 117.6x Long EU 1224x tp 123.4x Short GU 1864x tp 184.6x
Quoting Idkurv
I did short too, but be careful D sto still has not turned lower yet. I do not think uj will reach new high this week, but may up before going down to 117sh. could be wrong. cheers.
117? Not gonna happen at the where current price action goes.

The only thing would drag UJ back down could have been the (confusion) bear comment ("considerable time" to "patient") from the last FOMC; however, Yellen stepped up and cleared out the confusion in the statement and confirmed rate hike would come as early as Apirl 2015. In addition, in the press conference, she also stated possibly there will be a series of rate hike follow by the first rate hike. What she said gave good bullish momentum.

On the JPY side, Abe had a sweeping won on the election and expect (although not confirmed) more Abenomics in months to follow which leads to a weak Yen.

On the other hand, oil, the 6-month price chart is just not supporting a weak dollar at all... either.
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If u luv happiness, start w/ discomfort, make friends w/ pain and failure.
100 Hits 0 Miss All Time Return: 35.8%
  • #53,992
  • Dec 22, 2014 2:46pm Dec 22, 2014 2:46pm
IMO. We need a retrace back down to 118-117.50 before we head backup. There is not enough momentum right now to get us back above 120. If you look at the 5, 15, and 1 hour charts, it's pretty obvious. I'm still holding short at 117.80
Good luck and may the odds be ever in your favor!
  • #53,993
  • Dec 22, 2014 3:00pm Dec 22, 2014 3:00pm
4HR closed above significant 120 level
  • #53,994
  • Dec 22, 2014 3:01pm Dec 22, 2014 3:01pm
Quoting Paulenok
4HR closed above significant 120 level
120.9 on the horizon now
  • #53,995
  • Dec 22, 2014 3:17pm Dec 22, 2014 3:17pm
Quoting dbutton1990
IMO. We need a retrace back down to 118-117.50 before we head backup. There is not enough momentum right now to get us back above 120. If you look at the 5, 15, and 1 hour charts, it's pretty obvious. I'm still holding short at 117.80
Would like to see this hour close above 120. If so, then I will go long
Good luck and may the odds be ever in your favor!
  • #53,996
  • Dec 22, 2014 4:21pm Dec 22, 2014 4:21pm
Quoting dbutton1990
IMO. We need a retrace back down to 118-117.50 before we head backup. There is not enough momentum right now to get us back above 120. If you look at the 5, 15, and 1 hour charts, it's pretty obvious. I'm still holding short at 117.80
Would you please be as kind enough to share you thoughts on as to why UJ JAS to go back down to 118 - 117.50 before going above 120? Price action would suggest that extensions should be followed, as well as reversals. Simply saying that the price can't touch a price ( which it clearly has) and giving a price range for it to have to reach before doing so seems very bias don't you think?
  • #53,997
  • Dec 22, 2014 5:31pm Dec 22, 2014 5:31pm
Soon 114.xx UJ
  • #53,998
  • Dec 22, 2014 5:36pm Dec 22, 2014 5:36pm
I guess we have early Christmas present, UJ is trading above 120, there are probably still more room to go up.
  • #53,999
  • Dec 22, 2014 5:43pm Dec 22, 2014 5:43pm
Quoting DontSwing
{quote} Would you please be as kind enough to share you thoughts on as to why UJ JAS to go back down to 118 - 117.50 before going above 120? Price action would suggest that extensions should be followed, as well as reversals. Simply saying that the price can't touch a price ( which it clearly has) and giving a price range for it to have to reach before doing so seems very bias don't you think?
Basing my projections off of fibonacci retracements. We hit the one hour d extension at 119.6x (dont have exact number in front of me) usually when it hits the D extension we see a retrace. However, as we can all see. This isnt the case...this time
Good luck and may the odds be ever in your favor!
  • #54,000
  • Dec 22, 2014 5:43pm Dec 22, 2014 5:43pm
Quoting dbutton1990
{quote} Basing my projections off of fibonacci retracements. We hit the one hour d extension at 119.6x (dont have exact number in front of me) usually when it hits the D extension we see a retrace. However, as we can all see. This isnt the case...this time
On that note. Since we have cleared 120. I can see this thing retrying highs at 121.68
Good luck and may the odds be ever in your favor!
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