USD/JPY Discussion

Depending on which time frame one is trading, it looks like a medium term long towards 0.6182 retracement before setup for long term short.

Later, from the calendar:

- Monetary Policy Statement
- BOJ Press Conference

Be careful

A hawkish report will see the pair drop below 122.5....

doesn't seem like it wants to drop

Currently within wave 4 up of a larger wave 3 down. This wave 4 looks to be completing the final 5th wave up and perhaps will reach 123.37

Hello everyone.

My FOMC day long was profitable but only because I closed it about an hour before the FOMC announcement. Otherwise would have been stopped out at B/E.

Here's a potential 4H chart long scalp or swing set-up I am watching

There is also one on the daily chart, similar approach, based on the highs and lows of yesterday.

PS: depending on risk tolerance, SL could be placed lower or even higher (below the lows of the small circled bear bar). But then target levels should be adjusted as well

Here's the daily set-up as well. It is based on yesterday's candle.

Around area 123.27/28 we will understand if it will go down (under 122.40/122.15) or up...that one is the limit at the moment...

The long hasn't triggered yet. Less chance that it will trigger now.

By the way, the top of that circled candle (my signal candle) was the open of the week, as you probably noticed.

Close my short.Have a nice weekend for everyone.

That's convenient

hmms.. where's this heading..

Depend on where Greek is heading.

Imo, Greek stays = UJ drops.

There was no evidence of a 5 waves impulse (c), only now, this upward move towards 0.6182 retracement will complete correction (2), before resuming downtrend.

Monthly Report
of Recent Economic and Financial Developments
June 2015
http://www.boj.or.jp/en/mopo/gp_2015/gp1506b.pdf

page20 :
(2) Financial Markets
"in response to speculations about U.S. monetary policies"

My UJ daily looks similar - so I expect higher (or at least equal) highs than June 5th:

Wear recommend options for auto-swing - zigzag of easy waves can be seen and signify

Don't understand?

will short this safe haven only at 125