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USD/JPY Discussion

  • #60,361
  • Jun 5, 2016 12:02pm Jun 5, 2016 12:02pm
I have just Long this pair. This pair is oversold in my opinion.
  • #60,362
  • Jun 5, 2016 12:15pm Jun 5, 2016 12:15pm
Quoting EastWind
I have just Long this pair. This pair is oversold in my opinion.
Yes i agree with you and i am also in the same position
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  • #60,363
  • Jun 5, 2016 12:24pm Jun 5, 2016 12:24pm
USD is on free fall and I don't think this is the right time to go long on UJ. Simply because I don't think Japanese want to weaken JPY when the wind is so strong. They will surely wait for it to settle down, atleast until Yellen speech tomorrow.
  • #60,364
  • Jun 5, 2016 12:33pm Jun 5, 2016 12:33pm
Quoting PipMaxzz
USD is on free fall and I don't think this is the right time to go long on UJ. Simply because I don't think Japanese want to weaken JPY when the wind is so strong. They will surely wait for it to settle down, atleast until Yellen speech tomorrow.
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  • #60,365
  • Jun 5, 2016 12:57pm Jun 5, 2016 12:57pm
As per my 5 min chart, it might go south for 106.3 then it will go north up to reach 107 again this monday .

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  • #60,366
  • Jun 6, 2016 9:12am Jun 6, 2016 9:12am
is it going up now or down again?
it rubs the lotion on its skin
  • #60,367
  • Jun 6, 2016 9:17am Jun 6, 2016 9:17am
Quoting big-cheez
is it going up now or down again?

gj is going down and thats just because pound is crapping itself
  • #60,368
  • Jun 6, 2016 9:20am Jun 6, 2016 9:20am
Quoting big-cheez
is it going up now or down again?
Neither. Going sideways.
  • #60,369
  • Jun 6, 2016 11:18am Jun 6, 2016 11:18am
It's forming a flag and it might reach 107.60, but likely that's not the end of the move to the downside.
  • #60,370
  • Jun 6, 2016 2:08pm Jun 6, 2016 2:08pm
everyone has bearish view but it is making the bottom at 105, looking technically and fundamentaly , it may move to 118.80 and then even to 125-130...
  • #60,371
  • Jun 6, 2016 2:11pm Jun 6, 2016 2:11pm
remember the days when everyone said EURUSD may go to 0,80...Same thing will happen to USDJPY...

Basic strategy : When everyone chooses one direction, you should go to the opposite direction
  • #60,372
  • Jun 6, 2016 2:51pm Jun 6, 2016 2:51pm
No "everyone" is not bearish. If they were it would go down more.

This is just the usual retracement after a big, fast drop.

Let's see what it does tomorrow.
  • #60,373
  • Jun 6, 2016 2:59pm Jun 6, 2016 2:59pm
Quoting SunTrader
No "everyone" is not bearish. If they were it would go down more. This is just the usual retracement after a big, fast drop. Let's see what it does tomorrow.
Agree, retrace and I see a little room down before support at 105.....and a 200 weekly sma at 105.50
  • #60,374
  • Jun 6, 2016 3:05pm Jun 6, 2016 3:05pm
well i am more talking about a longer period...people think that BOJ has no bullets. This is a central bank , and people forget easily...remember SNB and USDCHF...one second and everything changes
  • #60,375
  • Jun 6, 2016 5:35pm Jun 6, 2016 5:35pm
Quoting berkmanb
well i am more talking about a longer period...people think that BOJ has no bullets. This is a central bank , and people forget easily...remember SNB and USDCHF...one second and everything changes
Got that backwards. Umm SNB ran out of bullets and look what happened then.
  • #60,376
  • Jun 6, 2016 6:36pm Jun 6, 2016 6:36pm
What's keeping this pair from going up after hawkish comments from Yellen earlier today?

Is the U.S dollar overbought ?
it rubs the lotion on its skin
  • #60,377
  • Jun 6, 2016 6:43pm Jun 6, 2016 6:43pm
Quoting big-cheez
What's keeping this pair from going up after hawkish comments from Yellen earlier today? Is the U.S dollar overbought ?
JPY is king
  • #60,378
  • Jun 6, 2016 6:47pm Jun 6, 2016 6:47pm
Have you looked at clock lately. Because it is evening here in U.S. and too early in Tokyo.

Anyway it might not get much of a boost from Yellen's comments because fool me once shame on me, ... etc etc.

The markets might decide to just wait and see or hear more from the Fed before they really believe them.
  • #60,379
  • Jun 7, 2016 3:29am Jun 7, 2016 3:29am
Quoting big-cheez
What's keeping this pair from going up after hawkish comments from Yellen earlier today? Is the U.S dollar overbought ?
On the wireless this morning, a man from JP Morgan etc said that after Yellen's speech the expectation/pressure/imminence of a rate rise had receded.

The main cause is thought to be the recent surprising NFP number.
Obviously the man in charge of the dice did not roll them often enough...
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  • #60,380
  • Jun 7, 2016 2:26pm Jun 7, 2016 2:26pm
Just a trend view update based on supply demand analysis, under evaluation:

Not sure on scale of current correction and UJ does not like big corrections at 4-5, but the ultimate move is down IMO.

Good luck to us

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