Sforex
Long

Idea for U/J next week.

FX:USDJPY   U.S. Dollar/Japanese Yen
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In this topic:
Idea for next week ( U/J)

- I predicted U/J would retrace to 99.40 and then moved to 101 level.

So what next ?.

Next week, there is no data for USA, but JPY has two main events.
- BOJ Minutes on Monday
- CPI             on Thursday.

Yesterday, BOJ announced that they will keep monetary policies unchanged.

I think nothing new in BOJ Minutes.

I concentrate in CPI             (YoY). BOJ said that they wanted to see CPI             reached 2% in 2015.
If CPI             is good,the advance of U./J will be strengthened.

Like I said, two elements affect U/J are:
- Nikkei 225            
-US 10 years T-Bond             .

Both are on the run higher. If FED unchanges monetary policy , no taper next months, Dow Jones , S&P             rise --->; Nikkei 225             rise --->; U/J rallies.
I think U/J will test 102 zone in next week. So I choose Long position, but be careful, 101zone is a very strong resistance level . U/J might retrace a little bit , i think U/J could retrace to 100.40 and then rally again to 102.

I don't have much ideas for technical analysis , simply U/Y is on the trend. Bullish trend .

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Confirm U/J touched 102 level. exactly.
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You must have made some good pips. Good job I must say.
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I agree with the fact that it will retrace from 101.3 but not agree that it will rally to 102. May continue falling.
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Going down
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in my opinion, there is one reason making U/J is bearish : Consumption tax hike.

I will monitor the effect of Japan consumption tax on Japan economy in next months.
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You said that in USDJPY you are long and that it may retrace to 101.40 before getting higher again. But we have not reached 101.40 to the upside yet. Perhaps you mean retracement to 100.40? Then I might agree; despite I can imagine even a retracement to unter 100.
I don't see an uptrend, only a sideward range.
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Sforex motleifaul
100.40. Yes. That's right.

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I doubt... this will go straight down!. We will see. TIme will say it all. Cheers
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Sforex fourkey2001
I said U/J might retrace because it reaches very strong resistance zone. 101.

But If Nikkei 225 continously rallies, I think U/J hardly sell-off.
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