USD/JPY Discussion

121.60 is next - on daily:

Nikkei vs USD JPY Finishing wave 5 as soon should be a correction

Usd/Jpy is still showing very strong bullish signal that could get us above 122.00 level which start of a new range to the upside.

Agreed, another pop after this consolidation is in order...

Even after breaking the 121.65 horizontal mark, the channel resistance is likely restricting near-tern USDJPY up-move. A break of 121.50 can call for 121 and 120.80 support while an upside break of 121.65 is followed my 121.85 and 122.10 to target 123.50 on the upside.

Not to mention the more important daily resistance. Hope no one was counting on break of resistance today - with New York closed for holiday therefore lighter than normal volume:

Is that triple top on D1? Damn that could fall

USDJPY Recovers In Impulsive Fashion

Time table and schedule of U.S. Dollar Funds-Supplying Operations
http://www.boj.or.jp/en/announcement...rel150430d.pdf

Whenever EXERCISE DAY, USD/JPY is RED.
e.g. 14May2015 and 21May2015.

And after Repayment day, the days are all green.

Here is the tell....
The upper bound arguably could be pushed to 122, but IMHO if the daily close is above 121.50 (by enough) we have a new step up.

Earlier I heard an analyst from IHS Global Insight (like they have any more of a clue, yeah ? ) saying that the FED will not raise rates this year and that Janet is talking the talk to try to keep things controlled. Well US labour costs are starting to rise and productivity is not improving - according to the BLS - so rates may well rise this year.

Interestingly the earthquake yesterday has had zero effect upon UJ. Not big enough perhaps. Let's hope it stays that way.

Some big bank unloaded huge spike blasted 22

?

Just updating my charts here.

USDJPY 122.00 which was held for the last 120 days got taken out per London opening just now.

I would never guessed the 122.00 gets taken out this early in the game given the fact June rate hike was confirmed off the table in the last FOMC.

123 is now in the cards. waiting for a pullback to Long it. ☺
Closed one L. running from days @ 122 + 130 pips.

Now that is what you call 'hunting stops'

u know a pair is a beast, when it has absolutely no top line resistance.

:nerd:

To me it overshooted. Now time to consolidate.

USDJPY Daily