USD/JPY Discussion

Result for Post 66.635

Very volatile trading in the closing hours of the week. Expecting the volatility to continue in the start of the next one.

Very volatile UJ in the closing hours?

Hello everybody ... (my view for the coming week)

... $Y(h4) b5wave in building … TP 112,12 … waiting a(c) sell@112,12 to ... final TP 108,50 = a(c)+b(c)+c(c))

Seems highly probable that BoJ will take advantage of low liquidity conditions in the next 24 hours to push U/J higher. Expect stop runs.

111.069 still a key level. Stops below 110. 899 safe at the moment. Long from current levels to 112.XXX. Good R/r. "Rah, Rah Boj pump the dollar don't make me pay, my stop loss, my stop loss. YEA BOJ!"

BOOM! Here comes the BoJ!!! U/J Ramp time

Going because there is plain old more buying than selling. Nothing to do with BOJ or 111.069

Will it last is the question - currently at Friday mid day swing high

Not to be combative but merely to play devils advocate, would you similarly argue SNB doesn't buy US equities? That BoJ doesn't buy Japanese stocks? That no banks colluded to maneuver LIBOR rates? That the US futures market/comex isnt used to manipulate gold/silver contracts up or down? That the BoJ doesn't have a personal interest in seeing the Yen devalued against the USD?

Obviously markets moved based on more buyers then sellers, or more sellers then buyers. Im just hypothesizing what I would do if I were the BoJ, especially at these critical levels. All i'm suggesting is that we have a "special guest buyer" with a printing press.

Were price to plunge below 111.069 and continue below 110.899 Id'd be obliged to resume a bearish position.

Banks yes, Central Banks no.

What does 111. 069 have to do with anything?

111.069 is a major support level my system has identified. I have clearly been wrong before and will be wrong again. Each trader should use their own metrics and by no means trust mine to define their levels.

What's the point of posting a number to others if you can't or won't say what its refers to? {Headscratcher}

But no problem. I won't bother asking anymore then.

I don't understand your head scratch. However, for clarification, as I already stated, that is a major support level from which, when price visits it slows momentum, bounces, or if penetrated is quickly recovered. So a "Major level/area of support". Not an obvious number like a swing low, which of course +/- some pips 110.899 is but rather a zone for which demand is readily apparent. A zone for which when penetrated a small test position short is warranted, followed by a larger position should price continue to trend in my direction once swing low is broken. It works for my system. I'm not asking anyone to read/follow/use my info. I post for my own benefit as a somewhat online journal to help document what I was thinking.

Hope that answers your headscratcher.

Uhhh no not at all. But carry on I'll live.

Fair enough

One thing I always "try" to do when talking about support and resistance or any other TA technique is to post a pic (which is worth a 1000 words). At least I hope it is:

i agree

but what did i agree on ?? i am still confused :O

but if i go by this, then i have a strong reason to be confused

Usd/Jpy is consolidating around 110/112 area, the pair is waiting for NFPs this week while lacking of directional strength.

i believe uj is waiting for someone to itch his/her arse lol