Thread: USD/JPY Discussion

There's no guarantee that the Fed is done raising. In fact I *believe* they will raise at least 25bp longer, if not 50bp earlier this tightening cycle is finished. The BoJ, on the other hand, doesn't seem to have any reason and if they do, the long-term influence on the currency market will be but a blip on your charts. The realistic favorable for JPY at this stage appears to be news about China, such as investment controls/taxes tightening, or even a widening of this CNY trading band against USD. Any combination of these occurrences would probably see JPY gain any value as a result of risk aversion (investors scrambling to depart their JPY financed positions, similar to March 2007) as well as an increase in Japanese exports which would become more aggressive if the yuan is allowed to appreciate.

I think will soon be turaround at roughly 124 , however I think It's worth to look on it to get a potential new high even though it wont occur and certainly will be some little (-)
My st : 122.80

So nobody is looking at 150.00 yet in 2-3 yrs.

I see no real turning point in price action, possibly there's some light at the day's end

Do not have the statistical probabilities on this but the UsdJpy normally retraces to atleast the 23.6 level of the weekly highs and lows. There is a strong uptrend.

Second week of this year it moved 263 pips and retraced into the 23.6 fib that week and the subsequent week and continu.ed up without a more retracement.

I've heard or read? 128 being mentioned....

Of the prior 23 trading months not counting last week it has retraced to the following fib levels. Because the weeks fib amounts pretain to the week, this week isn't counted yet.

Brief uj @ 123.40.

Originally Posted by Joel ;

Hello .. I am new to FX. Do you mind telling me exactly what indiors prompted you to state. . Brief uj @ 123.40

it just looks like it is going to drop. Besides I've sl set at .50 so that I can not lose much.