Technical outlook on USD/JPY

USD to rise against JPY

  • I Agree

    Votes: 17 36.2%

  • I Disagree

    Votes: 23 48.9%

  • I am neitral

    Votes: 7 14.9%
  • Total voters
    47
Not as much airtime off 105.07 as I thought it might. Good for 30 pips for those who caught it. I was trading other pairs so missed the bounce. The drop to 104 55 has given another good bouncepoint. One of these is going to be the big retracement...
 
ImO an opportunity to buy USD is getting even better according to how I view charts in conjunction with TA. The most important part here is that USD is low. Not carrying for fundamental reasoning as such I will simply assume that price is LOW as in buy lo & sell hi. Why do I still view this as even a better Long is because I've seen how this pattern evolves on many occasions plus the predetermined risk will be a lot lower than what a potential reward may be offering here. As I am entering off minute charts (as trigger points) my stops are at the most about 30pips. What is a potential benefit here? Always an arousing question. According to my research I see 50% fib bounce EASY providing this weekly divergence + price levels hold. Price provides interest & patterns provide entry signals. So here we are at 103.80 so close to lower weekly TL which I have at around 103.50, guess how many analysts are looking closely at same line in sand & thinking - hmm, what is GS up to?

I know USD's been in decline & at times dropping as a stone & all that media coverage, bloody hell I am sure American people at this stage are ready to swap for EUR LOL (JKing of course)


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Anyone following the weirdness that is going on with CME currency futures? It is freaking ridiculous how unstable it is tonight. Bid/ask disappearing and reappearing every few seconds.
 
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