BOJ's Harada says Excessive Yen Strength has now been Corrected

BOJ's Harada says Excessive Yen Strength has now been Corrected

Comments / Top
Subscribe

Jun 4, 2015 1:49am — Edited

Its been Excessive Yen weakness not strength!
Based on price action probably meant BOJ will support Yen now instead of dumping it.
Lots of big money behind selling off the Yen and its not going to be easy turning this beast around.
Unless NFP comes out negative I don't see much of drop.

jegas

Jun 4, 2015 2:08am

Permalink

Quoting alexpi

Disliked

No Davit, they announced that Yen is too strong about 3 years ago. Since then they have been selling yen as Agent Orange said above.

You are misleading people with that comment.

Ignored

ya,ie correct,3 yrs back Eurjpy im trading @ 94-100 ranges,day by day they try to easing to indepth.

alexpi

Jun 4, 2015 1:59am

Permalink

Quoting Davit

Disliked

Title is misleading
Its been Excessive Yen weakness not strength!
Based on price action probably meant BOJ will support Yen now instead of dumping it.
Lots of big money behind selling off the Yen and its not going to be easy turning this beast around.
Unless NFP comes out negative I don't see much of drop.

Ignored

No Davit, they announced that Yen is too strong about 3 years ago. Since then they have been selling yen as Agent Orange said above.

You are misleading people with that comment.

alexpi

Jun 4, 2015 4:06am

Permalink

Quoting Guest

Disliked

alexpi, davit is also saying BoJ will now support JPY instead of dumping, meaning the same thing.

Ignored

It's the opposite. They have been selling JPY until now and hence JPY pairs have gone up - lower jpy means higher GJ/UJ/EJ.

Now they will no longer be selling so we can expect a time of consolidation/ranging until big money accumulates

Matts Micro

Jun 4, 2015 2:26am

Permalink

It has looked like distribution for a few days now. Imo if a positive NFP they will just use the wave higher for better prices. Currently it appears the hrly rising TL is breaking.