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Usdyen

Long USDJPY following Shinzo AbeFollowing the additional stimulus of over 20 trillion yen announced early today by Shinzo Abe, I think that investor sentiment in the Japanese economy will be largely boosted, causing increased long positions in this pair, pushing up the price. Why now and why 110 yen? There has been a lot of choppy behaviour based mostly on structural moves recently, and I think that this announcement will be enough to break it out of this state. Buy now because this is at a pullback point following the initial post-announcement rally. 110 is for me a bit of a psychological point on this pair, as it hung around that point for a while on its descent earlier in the year. This for me is a good target.
Long
by olly_price
USDJPY. Potential area of landing in wave (4)Hello friends! It's very clear zigzag in wave (4). As you can see the wave C of (4) already broke below 100% of wave A. (I put it as possible target in my previous yen post) I know that many of you are ready for continuation of the trend in wave 5 upside. I think we can have another drop down before that, and it can be painful. The area of potential landing is highlighted in red rectangle. Let's count them level by level: 1) 107.88 = 1.618 of wave A in wave C 2) 106.81 = 38.2% retracement of wave (3) (I lost pretty much disobeying this rule entering ahead of time) 3) 105.43 = upper side of wave 4 of (3) (lesser degree) 4) 104.13 = 2 of wave A in wave C 5) 100.76 = downside of wave 4 of (3) (lesser degree) Let us see how it goes! Best wishes! Aibek
by aibek