USD/JPY Discussion

Too early to say dollar will strengthen on EUR QE?

crazy bear in UJ.

hmmm this will be interesting if we can get back up to 120/122 before any move down (below 111.x)... will take a while to play out but I have something in mind.

However Gator in EU has UJ down to 106.x and lower, usually he is spot on, but lets see

On hourly (60 min) chart it appears we are into wave 5 of 5 of wave , of abc of wave e of abcde which, if I am correct, means close to the end of the complete ABC Wave 4 correction on daily basis and resumption of bear to new lows.

First chart shows overall picture and second zooms in for more detail including approximate fib zone for wave 5. Time-wise probably within the next 4-6 60min bars (Sun night NYTime or latest Mon morn).

So we expect to rise and break through the borders of the triangle. According to a older trend (down) you can expect a quick recovery and return rates in the older trend (below 111.500)

Let us see if BOJ Governor's statement this week provides enough punch power to weaken YEN to get economic growth going forward again. I reckon it will unless they already know that there is bad news coming out of Yellen statement because then their QE money spent would be money down the drain as markets would fall after Yellen speech either way due to US market influence on international indexes.

Hey, all. The forex weekly outlook is live on the bog here: http://www.forexmademillionaire.com/...ook-3-13-2016/

It's a slightly new (and longer) format. You'll find three trades complete with entry, stop, and target levels.

Woot!

I shorted at 113.765 any hope of profit today?

http://youtu.be/D5HUhOMwrm8?a via @YouTube

Interesting point of view from Daily fX

Commitments of Traders Report – Week 10 2016 ( ending 11th March)

Bullish sentiment remains intact among traders once again.
Similarly to the previous week, Non-commercial traders dumped 5K short positions and left longs almost unchanged.
The level of short positions has been dropping significantly in this market. Non-commercial traders now hold less than 30K short postions. The level has not been seen since the summer of 2012. Long bias continues. The next logical support is at 105 ( allow for pullbacks)

1h resistance if broken next fib and resistance

Keep longs?

Not if my EW count posted on Saturday is anywhere close to being right.

And price action tonight seems to be confirming it.

not broken the resistance, waiting for Asia , SP500 on average 200 resistance, the village decides to Asia

I shorted SP500 at 2011. Gonna hold it see what happens

if the patter continues it looks like a short all the way to 112.50 is unfolding, with support around 112.00sh, in the other side a break above 114.50 mean the patter is broken and now this go north.

I just wonder for how long this patter will last.

no harm in testing. as always trade safe.

for more reference see the graph below, is an 8hr graph

tonight JPY - BoJ conference decisive, no need for magic to see that

If you look at H4, we can see how narrow the height fluctuations. This is a direct sgnal to what will soon be followed by the impulse of great strength. You just have to wait and catch it.

You mean decisive in wanting a weaker YEN and higher Nikkei so more purchasing power,right? Just like Draghi did for Europe.