USD/JPY Analysis

[Manss]

Well, the asset moves as I’ve predicted. I think that I can earn even more on USD/JPY! Definitely, the show must go on =) 

[Timothy]

I think that usd/jpy asset will go down.

 

[thenews]

USD/JPY: Buck Steps From 3-Wk High, Rests After Powerful Run

The greenback was trading with modest losses against the Japanese yen in the afternoon, snapping its impressive two-day leap worth almost 500 pips.

As a result, the USD/JPY hit a three-week high at ¥104.98 on Tuesday, fueled by hopes of further fiscal and monetary stimulus by the Japanese government after Prime Minister Shinzo Abe confirmed his position in the election over the weekend.

"Prime Minister Shinzo Abe's party's comprehensive win in the upper house elections over the weekend have markets salivating, as talk of a massive stimulus dominates the news wires," senior economist Tom Kenny of ANZ said in a note.

On Wednesday, the pair gave up 0.58% to ¥104.06, while the US dollar index lost 0.37% to 96.16 points during US market hours.

[whisperer]

Heading up again. That was just a correction

[Manss]

I think that the price will reach106,7 level. After that, the price will gо to the level of 105,3 or further.

[Mawreen Lawson]

It's still bullish, I think it might reach 107.70 before it starts falling again.

[Diana Jackson]

The pair is moving to the downside and I doubt that drop will end before USD/JPY reaches 105.30, or it might even reach 104.60, which is (EMA)89 on the four-hour time frame.

[whisperer]

It is up 7% in the last couple of weeks. And it will not stop

[Mawreen Lawson]

USD/JPY reached the support at 104.00 and rebounded from it, forming a spinning top candlestick above that level. I think we might see it climb towards 104.90 next.

[Mawreen Lawson]

Not only did it reach 104.90 but it climbed much higher than that level. Right now is quite undecided though, since traders are waiting for the news FED news later today.

[whisperer]

statement of the year :

Algorithmic platforms are being partly blamed for the Yen moves, according to traders who declined to be identified because they aren't authorized to speak publicly.