George Soros Selling Dollar/Yen?

This guy is saying Soros is in the market selling dollar/yen.



This is what he says:


There is talk in Asia that the selling that capped dollar/yen yesterday and saved my stop which was placed at 115.55 initially but later moved up to 115.59 was no other than the Man Who Broke The Bank of England himself George Soros. Dealer chatter says Soros was selling dollar/yen at 116.30, 116.40, and 116.50.

Any thoughts?

welcome aboard georgey

i hope he doesnt jinx this trade like he did on his short dollar call last year!

I think that we are getting a lot more support for our Yen Bullish outlook Merlin....Don't think that it will blow up in his face either Hope so...


Thanks,

Nader

So does that mean he is selling or buying. I mean is he shorting the dollar or shorting the yen?

He is selling the USD/JPY, which means that he is short the USD and long the Yen..


Thanks,

Nader

Woahhh. Hold the pony.

First. If George Soros is indeed NOW selling the USD/JPY, one of his employee's heads is on the chopping block for leaking the info.
It is More likely that George Soros HAS BEEN selling the USD/JPY for well over a year and would now like the rest of us to join in and drive it back down to improve his exit/Profits.

A few years ago, when silver futures were at a recent high of ~$5.00, Information was "Leaked" that Warren Buffet was Buying Silver. Silver then rushed to $7.00. After all the dust settled, it was discovered that Buffet had been buying for over a year and subsequently settled his trades in the $6.00 $6.50 range. Now THAT'S what I call a Market Maker.

So there may still be a play here, but I'm thinking Soros now thinks that the USD/JPY has more Upside potential than Down.

BTW. If you want Buffet to trade for you, all you have to do is buy shares in his public company. Last time I checked [couple of years ago] Berkshire Hathaway was trading at $75,000.00/share.

These guys play it VERY close to the Vest.

glad to hear your still with me on this on nader. we've been been talking about this long yen position for quite a few months now. ive had a fair sized position on and im starting to get fatigued. i almost covered my postition twice! if not for the news from the central bank this week i would have been out already. i feel like the USDJPY is at the edge of a cliff right now, its teatering there with very little support, and it is very high up and there is a long way to the ground. i want to wait for it to fall, but i cant wait around forever! lets see what she does this month, march is important for the yen.

Ya I am still with ya on this one Merlin...My opinion is that it will be a long time bull run for the Yen against the dollar...Don't get fatigue man, this long period of indecision is to shake the market and throw out non-confident people (In my opinion)....Japan is building up piles of US dollars, and they are not going to hold them forever...When the Japanese economy strengthens, I think we will see investment shifts from the US to Japan, and this will give a huge support for the Yen over the long time...Japanese depression is over to me, and so is the yen fall...


Thanks,

Nader

I'm not sure about the yen, but I would say that it doesn't follow the fundamentals as obviously as the other currencies in the G7 space. I learned that as the Japanese economy recovers, while it may attract more money from abroad, there is an offsetting factor in that the economic recovery breeds confidence, and reduces homebias, so Japanese funds may flow abroad.

How these effects stack up in the data is not clear to me, but its important to appreciate the many factors at play.

What I will say I had long position in USDJPY from 116.80 and liquidated because of this

your absolutely right nader. thank you for shaking me out of my moment of weakness!

Anytime man


Thanks,

Nader