Shirakawa: Want to hit 2% price target as soon as possible

Is that means JPY will go up or down?

YEN will weaken

will yen touch 96?

Means look at your chart see how the pivots are setting up in large and small frames - wait until you understand what that implies and trade your confidence.

BTW: This is an example of the incompetence of fundamentals as a tool (and please do not tell me it reflects the competence of the trader - it does not since if in fact there is a clear if this than that algo in fundamental logic any trader would work it out and trade accordingly. But since there is no such sequence it is completely useless as a tool and you need to device other means to decide timing and entry which reduces all traders to at best - technical animals). Anyone bold enough may challenge me but please do not use platitudes be specific as I have to contradict any assertion here - also state name, rank and number for the record as I take no prisoners.

No takers? where are those third world frauds jageese and spreadbutter?

why so serious son?

Mr.Gun, hello!
Could not agree more. However the fundamental case for Yen weakening and dollar strengthening is now well defined. Yesterday I posted a tease here but I guess the snippet had dropped off the radar by the time I got back to my terminal.

The fly in the ointment is that the US does not want a particularly strong dollar. USD is already stronger than most currencies compared to a year or two past, and they may make extensive efforts to prevent it strengthening much further. That can be achieved with words, hey, Mr. Bernanke?

The Yen however.... It is difficult to see how efforts to re-introduce some inflation to Japan will not weaken the currency. I stake my forex account on it!

I guess it will go up probably by end of this week

The yen collapse was a fundamental policy driven event, a better example you'd fail to find, as are all major trend/swing moves. Rather than ask here and get confused by wild theories why not dyor and find some analysts who you either enjoy reading or whose analysis you understand? I'm a fan of how Dukascopy deliver their analysis, also Ipek Ozkardeskaya at Swissquote although the spelling is a bit amiss at times.

No surprise out of BoJ Meeting

The BoJ meeting kept its policy rate unchanged at 0.10%, while more quantitative easing and an immediate start of an open-ended asset purchases program were rejected overnight. JPY remained bid in Tokyo and poorly consolidated yesterday’s losses. USDJPY rebounded from 93.80 intra-day low in Asia, and picked up momentum over 94.00 in Europe. We keep our bearish view in Yen, and look at 94.77 level as the next challenge in USDJPY bull.

http://www.ac-markets.com/action/news/news-forex

Also certain hedge funds publish terrific material that aren't behind a paywall. Read Stephen Yen who in 2011 got circa $200ml in funds to start his own FX hedge fund. He's on the money.

http://sljmacro.com/wp-content/uploads/2012/01/My-Thoughts-on-Currencies-February-10-2013-Website.pdf