DislikedI understand this is silver n gold thread, but I am also interested in your views on eur/jpy! I got stopped out previously when it first dropped to the high 116 . something On jan 16. Hoping for a good entry point on that pair now that it had crossed 121Ignored
A final off-topic note on Yen pairs: The new Japanese government has made it clear that 100 USD/JPY is their minimum target. Even the Pound which is plummeting against USD is gaining against the Yen. New "official" easing doesn't even start for the Yen until 2014 yet the Yen continues to fall. Looking at weekly or monthly charts, the Yen is still relatively expensive so that 100 USD/JPY target is actually rather conservative. In summary, there is no fundamental reason to buy the Yen.
Though many indicators have become "unhinged" (ZeroHedge calls it "unanchored") across all markets including seasonality, there's nothing to indicate seasonality for Forex has failed so I'd tentatively puts a reversal for Yen pairs around April despite the impressive gains.
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p.s. It occurred to me while I was waiting to get my car serviced this morning (they did literally nothing and charged me $30 for an "inspection" and told me to bring it to my dealer) that Yen pairs can fall as early as late March or as late as the end of April and I wondered if this coincides (coincidentally) with either Easter or some other holiday based on the lunar calendar.
It also occurred to me that EUR/USD "bottoms" every 28 days, give or take a day (adjusted for weekends and holidays no doubt) putting the next bottom on February 4th. This is strictly a casual observation that I haven't looked into in any detail, nor have I looked to see if this reflects other US$ or Euro pairs or if it is unique to EUR/USD.
You can always make money tomorrow provided you don't lose it today.