USDJPY - How high?

[antiseptic]

It seems many said it would start ranging at <110, but now we're >112 and going strong. Just curious what price targets people have in mind? Next resistance area I'm seeing is about 118 or so.

 

[doggyfx]

I'm buying JPY Dollar shouldn't go higher its time to digest real prospects of US, buck should retreat on the rate hike..

 

[athlonmank8]

This could go up for months....... This is a completely unexpected shift in government and policy

 

[JackRab]

I'm buying JPY Dollar shouldn't go higher its time to digest real prospects of US, buck should retreat on the rate hike..

This makes no sense whatsoever... why would the USD retreat on the hike?
It might retreat if Yellen goes dovish, but I doubt that. Otherwise "all aboard the $-train!!!"

 

[JackRab]

It seems many said it would start ranging at <110, but now we're >112 and going strong. Just curious what price targets people have in mind? Next resistance area I'm seeing is about 118 or so.

There's a 5-yr 23.6% pivot point around this level... 114+ish. After that it might be testing the 126-level of 2015...

Meh.. what do I know, I'm just glad it's back at the level of 6 months ago... I've been short JPY all the way up and down....
I might just be speaking in line with my position a bit.....

 

[athlonmank8]

There's a 5-yr 23.6% pivot point around this level... 114+ish. After that it might be testing the 126-level of 2015...

I think that's a level a lot of traders are eyeballing

 

[athlonmank8]

Still on track for 126

 

[mlawson71]

That's what it looks like. The nearest target though is 116.

 

[Alexfx79]

I expect a correction USD/JPY in the currency pair within a few days an I think that it will move to 114.85 anyway

 

[athlonmank8]

That's what it looks like. The nearest target though is 116.

Nice. Where'd that target come from if you don't mind me asking?