moey_dw wrote: Thu Jul 04, 2024 4:44 pm JUST INTERVENE AND GET ON WITH IT..... ARGH

lol yes, but CBs always only ever do a half arsed job of intervention, probably because deep down they know it's doomed to fail and market forces will win out at the end of day and find true value of the currency.

I think CBs only try just to give the public the impression they are doing something rather than nothing.

They'll probably do what CBs always do in the end and devalue the currency themselves or, the modern way is just to print more and devalue that way.

Let's see if nonfarm payrolls can help the Yen out today. Watch for possible Bank of Japan intervention prior to nonfarm payrolls as well.

8 hour chart 15 min intraday

Are we in a downtrend yet or what usd/jpy

boytoy wrote: Mon Jul 08, 2024 4:21 pm Are we in a downtrend yet or what usd/jpy

no, consolidating until new news determines whether next move to be up or down, meanwhile could easily see a retest of the recent high;

Ogee wrote: Mon Jul 08, 2024 4:32 pm no, consolidating until new news determines whether next move to be up or down, meanwhile could easily see a retest of the recent high;

Screenshot 2024-07-08 072747.png

Oh ok.... what news is coming that might do anything? The only one is the Fed speech in a few days?? Or something else

boytoy wrote: Mon Jul 08, 2024 5:10 pm Oh ok.... what news is coming that might do anything? The only one is the Fed speech in a few days?? Or something else

I would be looking more at JPY news and what might be the BOJ reaction to it and the possibility of future intervention. Sometimes central bank intervention might be one hard hit but more often it's a slow dribble to disguise the manipulation.

Good current account data last night and if good CPI data next week might relax the BOJ into backing off trying to force USDJPY down. Bad Japan data would encourage the speculators to continue shorting the Yen (long the $).

Good reason to follow the weekly COT data, watch for the speculators to either start unwinding their shorts or going deeper.

No upcoming news events today for this pair. Is the pullback over yet?

boytoy wrote: Mon Jul 08, 2024 4:21 pm Are we in a downtrend yet or what usd/jpy

Another way to show usdjpy hasn't slipped into a downtrend yet is because Retail traders haven't shifted from net short to net long

ChuChu Rocket wrote: Tue Jul 09, 2024 3:48 pm

No upcoming news events today for this pair. Is the pullback over yet?

USD/JPY STRONG BUY

moey_dw wrote: Tue Jul 09, 2024 4:04 pm USD/JPY STRONG BUY

Ha! Nice GIF.