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USD/JPY Discussion

  • #57,061
  • Jun 1, 2015 1:47am Jun 1, 2015 1:47am
Quoting roger44
Sources of Changes in Current Account Balances and Market Operations (May) http://www.boj.or.jp/en/statistics/b...juqf/juqf.htm/ In the file, at the end, the "Notes" : point 6 and point 10. and then read back to the respective items on the main body.
Would you be able to provide an extract of what was written in the report? Pro- Jen?
  • #57,062
  • Edited 2:15am Jun 1, 2015 1:59am | Edited 2:15am
Quoting pohchuan
{quote} Would you be able to provide an extract of what was written in the report? Pro- Jen?
As I do not want to affect people the way of thinking, I seldom copy to my post (except some speeches).
You may download the software "Open office" to read.
(It is better for people to read directly (the real thing)).
(as I also use it to read.)

a hint : USD-FUNDS
  • #57,063
  • Jun 1, 2015 2:08am Jun 1, 2015 2:08am
Quoting andoseg2
If the price fall below SL , then it's nulified {image}

Update :

Attached Image
Money moves the market, not an indicator.
  • #57,064
  • Jun 1, 2015 3:08am Jun 1, 2015 3:08am
USDJPY continue progressing in its breakout region, as signaled by the ascending trend-line support; however, 124.30 trend-line resistance could restrict the pair's immediate up-move.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYH1.png Size: 22 KB
  • #57,065
  • Jun 1, 2015 3:20am Jun 1, 2015 3:20am
Quoting Fx_Anil
USDJPY continue progressing in its breakout region, as signaled by the ascending trend-line support; however, 124.30 trend-line resistance could restrict the pair's immediate up-move. {image}
How far up do you think it will go?
USD data if soft may make it test the support levels again.
  • #57,066
  • Jun 1, 2015 3:42am Jun 1, 2015 3:42am
Quoting TraderRaven7
{quote} How far up do you think it will go? USD data if soft may make it test the support levels again.
IMHO, sustained trading above 124 continue favoring chances of the pair's 125.80 test while a break of the said level isn't expected to take place.
  • #57,067
  • Jun 1, 2015 3:58am Jun 1, 2015 3:58am
Quoting Temujin
{quote} The Nikkei just like many many major indexes is just beyond an all time high. The US dollar is in overbought territory. We are a tad above the June 1, 2007 high now on the monthly chart. I wonder how many rate increases are already built into this rate of 124 here? The bank of Japan is going to get uncomfortable with any surges higher. They only need it to be around 100 for it to work. Any more than that can have the opposing effect on consumers as higher prices snap the purses shut. How can CAPEX increase if things are that expensive for...
One of life's lessons is that when you use absolute references the bald facts of reality soon make you wish you had said nothing.

In that vein I will say that, from the data I can access, UJ had never been below 120 until September '92.
It would therefore seem logical to suggest that the current value of UJ is not any cause for concern - even to the BoJ.
In fact the more that UJ gradually drifts towards 130 (last above that number in 2002) the more it assists their strive to increase inflation.

As for the Nikkei.... It crashed from approximately 40,000 in the first months of 1990.
At that time UJ kissed 160 and then headed down, so far never to return.
The crash of 1990 was mammoth, total wipeout of asset values; commercial property crashed by 87% (leaving just 13% of previous valuations).
This was the onset of what has been dubbed 'the lost decade', but has in fact turned out to be the lost quarter-century (and may be longer) measured by stock market values.

Even today the corruption that caused the crash persists in some parts of Japanese business practice, as evidenced by recent events at Minolta (?).

So from the monthly chart either UJ will reject the current price and return to the 118.50 region, or it will break through the current resistance and head up to a region that looks like 127.50 as a temporary upper bound.

Place your bets!
Carbon-Dioxide: the gas of life! https://youtu.be/ttJBdr6eBuo
  • #57,068
  • Jun 1, 2015 6:26am Jun 1, 2015 6:26am
Good potential for explosive breakout :

Attached Image (click to enlarge)
Click to Enlarge Name: uj.png Size: 30 KB
Money moves the market, not an indicator.
  • #57,069
  • Jun 1, 2015 6:49am Jun 1, 2015 6:49am
Quoting Exodus
{quote} One of life's lessons is that when you use absolute references the bald facts of reality soon make you wish you had said nothing. In that vein I will say that, from the data I can access, UJ had never been below 120 until September '92. It would therefore seem logical to suggest that the current value of UJ is not any cause for concern - even to the BoJ. In fact the more that UJ gradually drifts towards 130 (last above that number in 2002) the more it assists their strive to increase inflation. As for the Nikkei.... It crashed from approximately...
Before the end of this year we will see 130. Nikkei will hit new highs and YEN new lows. By the dips on the Nikkei and buy the pullbacks on the YEN
  • #57,070
  • Jun 1, 2015 9:08am Jun 1, 2015 9:08am
power to wave 5
  • #57,071
  • Jun 1, 2015 9:53am Jun 1, 2015 9:53am
Short @ .314, sl @ .500, tp @ 123.900
  • #57,072
  • Jun 1, 2015 9:58am Jun 1, 2015 9:58am
Usd/Jpy is testing 124.40 highs after the better than expected US ISM manufacturing index that reported. If this pair does manage to break above 124.40, next target will be around 124.60 level.
  • #57,073
  • Jun 1, 2015 9:58am Jun 1, 2015 9:58am
Quoting TraderRaven7
Short @ .314, sl @ .500, tp @ 123.900
  • #57,074
  • Jun 1, 2015 10:19am Jun 1, 2015 10:19am
Quoting Dano12
{quote}
Nobody wants to listen to your hocus-pocus EWT! Sell sell sell to me!
  • #57,075
  • Jun 1, 2015 10:23am Jun 1, 2015 10:23am
next 124.7/8 and then down..................
  • #57,076
  • Jun 1, 2015 10:27am Jun 1, 2015 10:27am
Quoting Dano12
power to wave 5

well done Dano
  • #57,077
  • Edited 10:49am Jun 1, 2015 10:34am | Edited 10:49am
In a bull market any minor good news is amplified
USD is killing mowing every currency on board now and with Yellen singing IR hikes this will get worse.
130 by Sept? could get there in 3weeks

Harmonic patterns work until they don't!!
Just look at EU drop from 138 and you'll see over 3500 pips and not much of correction. EW works until it does not.Fundamentals can drive anything to ground.
Just imagine should Greece default EU can get to parity in hours
Recent example Swiss franc drop thousands lost their shirts in hours

Only idiotic thing about the Feds are they are going to make the USD so strong that it will seize to be competitive and with Oil 50 or below thousands will lose their good paying jobs in oil and export market.
That sure will stagnate growth!These idiots start the party way to early instead of keeping their mouths shut they insinuate the situation to extreme.
In trading, you have to be defensive and aggressive at the same time
  • #57,078
  • Jun 1, 2015 11:02am Jun 1, 2015 11:02am
Quoting cheersdup
{quote} Nobody wants to listen to your hocus-pocus EWT! Sell sell sell to me!
good luck
  • #57,079
  • Jun 1, 2015 11:10am Jun 1, 2015 11:10am
Quoting andoseg2
Good potential for explosive breakout : {image}
This was the entry (already 1:7 risk:reward ):

Attached Image (click to enlarge)
Click to Enlarge Name: uj.png Size: 19 KB
Money moves the market, not an indicator.
  • #57,080
  • Jun 1, 2015 11:16am Jun 1, 2015 11:16am
Depends on which time frame one is trading, there's still twist and turn before a major top is formed.
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYM30 1Jun15.png Size: 34 KB
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