USD/JPY Discussion

ok

Thanks

112.0 strong support for USD/JPY

Expecting it to go up!

I agree. The JPY is overbought just because of the ruling risk-off sentiment in the markets. As soon as the tension in the market eases there is a strong possibility of JPY weakening. It has good potential R:R to sell the JPY.

Look at the JPY charts, it is close to/at important levels for all the JPY pairs I am tracking. For me it comes down to wich currency to buy against the JPY. Most probably it will be a long EURJPY position. Other good alternative trades could be long USDJPY, long GBPJPY and long AUDJPY. Also the CHF will suffer if risk on occurs again.

I am suspecting a a period/brief period with risk-on sentiment in the markets. With the market conditions of latetly, secure profits, minimize risk and react if you suspect a change in the risk-sentiment. Beware of China, things might get ugly. If that hits the markets you don`t want to be caught selling the JPY.

Bottom line, I am looking into selling the JPY and are going to minimize the risk continously and step carefully ahead.

Hey all, I've outlined my thoughts on USD/JPY in my weekly outlook. Read it here:

http://www.forexmademillionaire.com/...ook-2-21-2016/

Good Morning !

Today's SR levels on MT4 Templates for EURO, CABLE, DAX, USDJPY & EURGBP

Possible breakout of the descending trendline...



The same goes for AUDJPY as well

My chart just recorded a gap down on this pair from 113.117 to 113.093

112 attraction not letting to go far away on usdjpy , also eurjpy cant fly still waiting for usdjpy hit the 112 then looking for longs on eurjpy ...

My weekly risk Calendar:
Seem like thursday is the day!

I highly recommend saving the below events into your google calendar as a part of weekly routine.
Please see further analysis below. It includes Tuesday to Friday trading sessions.


Very light week ahead of us in Forex markets. There are almost no high impact events happening. I guess, all data will be skewed by the situation in UK. So called Brexit caused a massive gap on Cable this morning and volatility is expected for the rest of the week in GBP pairs.

Trading Highlights of the week:
Tuesday, Feb 23th,2016 @ 11:15am – CHF – SNB Chairman Jordan Speaks
Tuesday, Feb 23th,2016 @ 3:00pm – USD – CB Consumer Confidence
Thursday, Feb 25th,2016 @ 12:30am – AUD – Private Capital Expenditure q/q
Thursday, Feb 25th,2016 @ 9:30am – GBP – Second Estimate GDP q/q
Thursday, Feb 25th,2016 @ 1:30pm -USD – Unemployment Claims
Thursday, Feb 25th,2016 @ 11:30pm -JPY – Tokyo Core CPI y/y
Friday, Feb 26th,2016 @ 1:30pm – USD – Prelim GDP q/q

Tuesday
Tuesday, Feb 23th,2016 @ 11:15am – CHF – SNB Chairman Jordan Speaks
Swiss Central Banks has a tendency to surprise the markets. They did come out few times before with a total shock but this time Jordan’s statement should have no echo. They have been saying that the Swiss currency is overvalued many times before and will probably say it again tomorrow. This stance is expected from the markets hence this event will have low impact on the prices.

Thursday
Thursday, Feb 25th,2016 @ 12:30am – AUD – Private Capital Expenditure q/q
It’s a leading indicator of economic health – businesses are quickly affected by market conditions, and changes in their investment levels. It can be an early signal of future economic activity such as hiring, spending, and earnings.
Expenditure is expected to print a negative 3% vs a negative 9.23% previously.
Deviation in both directions can affect AUD pairs.
Thursday, Feb 25th,2016 @ 9:30am – GBP – Second Estimate GDP q/q
This could be a market mover indeed. Two important reports are out at the same time. Second estimate GDP q/q is expected to come out flat at 0.5% Prelim Business Investment q/q is expected at 0.6% vs much stronger 2.2% prior. Any positive number is good for UK economy and might spark GBP buying. This could be supported by the current double bottom printed in Cable this week.
Thursday, Feb 25th,2016 @ 11:30pm -JPY – Tokyo Core CPI y/y
Another potential market mover. As inflation is in the spotlight, JPY CPI will be closely watched by traders. The report is expected to come out at 0%, compared to negative 0.1% prior. Less than 0% is a technical deflation so any positive number will be a good news.

Friday
Friday, Feb 26th,2016 @ 1:30pm – USD – Prelim GDP q/q
Market expects this report to print 0.5% vs 0.7% Any deviations from expectation can move USD pairs across the board. Market would like to see higher GDP. This would increase the odds of FED raising interest rates this year. Personally I don’t think this is the case.

Hey GFS do you know off the top of your head when Canadian Reserve Bank due to announce next interest rate decision? Must be soon. I've noticed you on USD/CAD thread so you are obviously aware it is at a critical turning point. It paid me well last night, then had second bounce in a week off neckline of Head and Shoulder pattern.

Hi. Next meeting at April 13th. They were very hawkish back in January but I dont think they will be raising anything given oil is barely above $32.

Cheers GFS. I'm out of it for now, took the money and ran from triple bottom. Watching closely.

Yeah that bottom looks very firm. I will be bullish if it breaks above 1.3850 and pulls back to same. Bearish after the XxX is broken to the downside.

might going lower to 111

was wrong about date , however bulls got what they needed 112.0x is/was the normal retrace
looking for bids without new daily LL for 115 ish

Looks like BOJ always prepare for the "fat fingger" if the new low hit for usd/jpy.....

Hi
Why was 112.0x a normal retrace? From where to where?

Hi please go and read Gator's posts , I'm still learning though ...
cheers