Forex

Its gonna go to 80 at some point soon.

I wrote this in the EUR/USD forum but I thought post it here as well. It's quite possible a new low in the USD/JPY is coming. The Dow's decline is now catching up to the other indices. The Nasdaq Comp and 100 broke their January lows last week and this morning the S&P broke its January low. I don't see much of anything holding these indices up except the divergence of the Dow not breaking its Jan. lows. In my opinion, this puts downward pressure on the USD/JPY, and support the dollar's 4th wave outlook I have. So a new dollar low may be coming upon us. Here's the post from the EUR/USD forum

I'm watching intensely is the USD/JPY which has a correlation to the stock market. Not much anymore, but still a little bit. That pair falls in line with the other dollar pairs in that it appears to be in a 4th wave and will make a new low. The stock market is acting crazy, with the S&P and Nasdaq getting hammered while the Dow is strong. The stock market needs new lows to form a temporary bottom. So that goes in line with the USD/JPY making a new low as well, and I don't see the USD/JPY making a new low while the dollar goes on a huge rally across the board.

are you suggesting USDJPY needs to make a new temporary low (ie 95.70) or a new historical low (ie 79.75)?

I agree with you that divergence between Dow and other stocks is intriguing

I would suggest a low below 95.70 for now.

It could be. The Dow tends to be a better guage of social mood partly due to what you just said. JPMorgan really boosted the Dow with around a 10% gain all day. Other financials were hammered across the board though. Other stocks were up in the Dow as well, but JP led the way without a doubt. I still think we have further to go down. Tomorrow's Fed stuff should cause a lot of volatility. I'll have all my stops in place well before the announcement and just sit and watch with my viking helmet on, lol.

USD/JPY (currently 97.50) is poised for a new low as long as 99.74 isn't exceeded. If you go to the 15 minute time frame you can see a triangle, which is typical of a 4th wave correction.

For me, I'm already short and holding for a new low against 99.86.

I think we r at much slower trade this week

My yen price did not move is this happening to everyone

is it still wise to hold my lot?
i got a lot sell @ 96.721
the roll for yesterday was 12.50
and today is 50

Sit tight
it is the calm before the storm