USD/JPY Discussion

Looks like Pairs attacked didn't shake down dollar as France today stated "we will DESTROY IS!"
Along with the positive momentum from the G20, we have UJ pushing beyond the 123.00 level before the CPI release.

Last Friday's flag.
http://www.forexfactory.com/showthre...35#post8592435


Pushing beyond the 123.00 level.


Original ideas on USDJPY on it's way to 125.00 level

1. 11/14/15 11/14/15 USDJPY on Track to 125.00 as USD CPI Approaches
   https://www.tradingview.com/chart/US...PI-Approaches/
2. 11/01/15 USDJPY On its Way Back to 125.00 Level
   https://www.tradingview.com/chart/US...-125-00-Level/

Entry at 123.10 with target at 123.600

G20
http://www.mof.go.jp/english/interna.../g20/index.htm
http://www.mofa.go.jp/files/000111117.pdf
http://www.mofa.go.jp/mofaj/files/000111118.pdf

http://www.mof.go.jp/english/

Run towards 125 started.

You will see that 123.60 hit

Hi Zony

I am bullish the usdjpy too towards 125.00. Why did you put your TP where you put it? The recent high is 123.54. I would have placed it at say 123.50. If price gets above 123.54 it would most likely continue upwards and you would have lost a good chunk of potential profit. Just me wanting to see what you see.

sl moving to 122.90
hope u guys right since im going to hold it until it reach 125 or sl get hit

123.600 looks like a resistant it will need to break to head for 125. There could be a pause at 123.600 before moving forward. We called this testing the resistant. If the bull is strong then it will push through but looking at the news, trader are cautious and waiting....

from my point of view it needs to break area around 123.55 and 123.95 if it can breaks than 125 is not impossible in the following weeks. i hope it reached in the end of this week

Daily chart

UsdJpy ====> Buy Stop = 123436 / TP = 123626 / SL = 123164
if this order trigger ; open 2* lot Sell Stop = 121164 / TP = 123040 / SL = 123436
GL

Attachment

Bulls seem taking a break, the immediate support level can be found around 123.00/122.97 zone, on the upside resistance zone located at 123.45/50.

Just thought about this entry from the first page at 123.25 where it is right now in this moment, then realised the post was from 2007...

CSC2009...Looks like it right now. Pausing 123.25. Everyone waiting for CPI???

Waiting for either a break below 123.00 mark or move above 123.50 for a quick USDJPY trade.
Above 123.50, it should provide a momentum trade opportunity for a 100-pips up-move towards 124.50-60 resistance area.
Below 123.00 mark downside seems to be limited and should find support near 122.60-50 zone.

CPI looking ok...so expecting to continue upwards.

Well, the asset moves as I’ve predicted. I think that I can earn even more on USD/JPY! Definitely, the show must go on =)

Traders trade and leave the predicting to the crystal ball watchers.

I see that we left behind a strong consolidation segment from 121 to 1119 this would be a strong support, if the market decide to pull back. all things been equal and constant and if big economic policy changes, or profound fundamental news affect the current momentum, this market should go up to face next resistance to 124.20 with a current 122.50 support.

my review of the market shows a bullish momentum up to 125 due to the past marks of June 05 and Aug 12

let me know if you think similar, or what factors Im ignoring that I should pay more attention.

thanks, for your help and advice.

one rule of my trading strategy for UJ :
* if position is in profit close it manually at 23:00 (gmt+2) - if not in profit set TP to entry level and try to leave the position without lose..
here it is.