USDJPY set up ideas and trades

The pair has been traded around the level of 138.550. It has had several bounces. However, it has not created any bullish momentum. Traders must wait for the price to produce a clear trend.

We could see it drop from the break andretest of support but personally would like to see it pullback to 142.100 to 143.100 before dropping again.

DXY is certainly weakening. Will watch this pair to see if we get that pullback

I’m looking for a pullback higher to the daily OB around 145.15 - 146.79 for a continuation lower. We closed for the week with not much bullish momentum - so would expect the pullback! Let’s see and react based on that.

The price has been heading towards the North with moderate pace. As of writing, the price has been in consolidation. A bullish breakout may push the price towards the North further. The price may find its next resistance at 145.000.


All on the back of DXY by the looks of it. Really hard to tell when it will take a breather

The level of 142.200 has been working as a strong level of resistance. The pair had a good bearish move upon having a rejection at that level. The level of 138.00 may play a vital role to determine its next direction.

The pair has been very bearish in the H4 chart. Wait for the price to consolidate or a bearish correction to go short in the pair.

The pair has been very bearish in the H4 chart. It may make a bullish correction. Thus, the sellers may keep their eyes in the pair to go short upon having bearish reversal at the value area.

2 months later and it’s 440 pips in one hour - again stops will have been gapped and again all it took was a tweak from the CB.

The BoJ have made it clear in Oct that it would like to see a stronger Yen without raising rates - so the hint was fx intervention - thus the drop in USD/JPY then.

Now instead of talking they have tweaked their 10yr bond policy - when the talking doesn’t work time for action.

Rates remain unchanged btw

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Did you grab this big move @peterma?
When I saw the price went down like crazy, I checked the calendar tab on babypips, no interest increasing but it was down and down, I really didn’t what happen until I read the news.

I have predicted the movement of USDJPY for a long time, the price would go down to 2 red zone but I wasn’t patient enough to wait until that time, :sob:. This could be another lesson for me, I should believe on my technical analysis.

Wow, did any of you guys catch moves on JPY?

What the heck happened!?

Is there a trade in there if you’re late to the game? Maybe watch for it to retrace? Can you still count on something like a fib retracement with a move this big?

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Aye the lesson is not to go against the CB - they are the top of the tree in FX

Interesting that one of the BoJ refused to comment today so as not to impact the market - also interesting that they commented late last week that good chance that inflation in US has peaked.
They still have rates at a low so likely price will continue lowish for a while.


I was busy at that time with gold since it was in quite strong uptrend yesterday. Actually I thought Japan would keep the rate same as before so I didn’t prepare the trade for this pair. And finally, BOJ didn’t increase the rate but “The BOJ increased the range within which the yields on benchmark Japanese government bonds are allowed to fluctuate, signaling that it may be open to tightening policy next year.” (I copy this paragraph from

I saw a double-bottom from H4 time frame last night but at that time I was busy with another trade too. I’m looking for reversal by using fibonacci.

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Yeah, I have many valuable lessons about going against the CB, try to never ever let it happens again.
Which website are you looking for the news @peterma? I usually read news from

ReutersBiz is good on Elon’s site.

Can sometimes help set the tone - example WTI is up today - but they report rumblings in the UAE re OPEC policy and apparently want to pump more not less - but that’s down the line.

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Well, the latest is sitting on 132.997, and i bet it will be comfortable on 131. How low you think it can go?

Anybody get in on the move down just now?

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I opened a short this morning. That resistance at the 130.7 level has been holding up nicely, so this looks like a nice possible break downwards to continue the trend.

All the way down through 129 you think?