Tuesday should be another down day for U/J. Has already put in a 38.2% retrace of Monday's move. Expect at least another low past 100.77. Giving a specific target below there is just guesswork.

USD/JPY Discussion

In hindsight perhaps, all we can do is follow trend and back on Dec 31st the trend was still up.

USD/JPY Discussion

Good start to February for U/J bears. I posted about how U/J could be a sell starting in February about a week and a half ago. Going to take some time for bulls to regain control if U/J is destined to continue higher.

USD/JPY Discussion

Time to sell U/J. Stop above last week's high is pretty safe. Going to take some time for bulls to regain control if this is still an uptrend.

USD/JPY Discussion

Been a while since I dropped in this thread. Haven't been trading U/J much as it has been dead money for about a month. Not expecting a big move either direction, but I'm still bullish. By Feb this pair could be an obvious sell however. I'm going to ...

USD/JPY Discussion

Bought more here. Stop 105.20.

USD/JPY Discussion

4hr close >105. Looks really good for bulls right now. Not expecting a weekly close under 105 at this point.

USD/JPY Discussion

Looks like we will hit 105 Friday. Don't expect 105 to offer much resistance...more act as a magnet, pause at the round #, then resume.

USD/JPY Discussion

Why in such a rush to close longs? Got to at least wait for some kind of weakness on the 4hr chart before considering selling.

USD/JPY Discussion

Monday was a dip to 38.2% weekly retrace with a daily close over 104. Possible the weekly low has been put in place. For the rest of the week, I think 104 is a good place to be long for now. Now time to test the upper range of last week...and maybe ...

USD/JPY Discussion

Looks like a nice bounce here off 38.2% (103.82) weekly Fib. This needs to hold in NY session.

USD/JPY Discussion

Maybe there won't be...but I've never really bought into the idea that markets shouldn't be traded around holidays b/c of light volume. Last year around this time was the start of major trends in /ES and U/J.

USD/JPY Discussion

Yeah that is what I'm saying. While I have managed to be long for a good chunk of this U/J move, it has been very hard to add in aggressively. So far this month, U/J has only gone up 150 pips after a great November that seemed to be the breakout. ...

USD/JPY Discussion

Friday can be a good trading day b/c its the close of weekly candles like Nov 22 this year was a great buy at 101 on the dip. I'm not really sure if this is a strong trend. As a stock trader as well, I've got to say that this had been very crappy ...

USD/JPY Discussion

No price action is irrelevant, as each timeframe tells a slightly different story. There is some price action that is more relevant than others, for example closing price action of a candle is very important b/c it is basically some people ...

USD/JPY Discussion

So back at 104 and we are bouncing a bit on 5min chart, but what is happening now was my fear as a bull last night. We made the new high daily high towards 105...(didn't get there). Then the bull trap is sprung and we fall back below yesterday and ...

USD/JPY Discussion

Yeah everyone has to be thinking buy when looking at the chart. Daily inside bar, buying now with stop at yesterday's low is standard trade. Selling now, while we haven't make a new high (which makes a bull trap a possibility b/c false breakout). I ...

USD/JPY Discussion

Well when looking at the monthly candles you see bold solid candles. This month we've put in an orderly retrace of November's candle, and now trading back near all time highs. I'm thinking a strong buy until the end of the month when December ...

Let's Trade Options

So what we thinking for the rest of the week? Clearly the direction is up, but I think we could get above Nov highs this week.

Let's Trade Options

Leavin when it's just getting good?

USD/JPY Discussion