My chart only goes back to 1997 and the all time high is 147.62. Looks like we might just plow thru that soon if no central banks mention anything about the depreciating Yen. Buy and hold I guess. Easy money.
Chart high 178.22 for those wanting to view higher prices.
Swing the AXE..HARD w/ Effort, Consistency and Patience
- Joined May 2014 | Status: From1toMillion | 9,189 Posts | Online Now
Everyone can see the chart, but only a few can actually read it.
- Joined May 2021 | Status: Trader | 6,932 Posts
{quote} the bears areback????
People don't plan to lose. They lose because they don't plan.
I highlighted some key pieces: BOJ tends to intervene when the JPY is strong. Will they continue to let it weaken is the big question.
In Black you have the BOJ and possible other nations intervening when the JPY is strong.
In Green you have the Bank of Japan/other nations intervention when the JPY is weak or the Dollar is overvalued.
We are right at the 24 year mark since the last time BOJ intervened to curb the strength which corresponds with the 24 year low we are at.
Be safe out there with your longs.
1973 - Japanese monetary authorities decide to let the yen float freely against the greenback.
1985 - The Group of Five industrial nations, the predecessor to the G7, sign the Plaza Accord in which they agree that the dollar is overvalued and that they will move to weaken it.
1987 - In February, six of the G7 nations sign the Louvre Accord, which aims to stabilise currencies and halt the dollar's broad decline.
1988 - On Jan. 4, the dollar falls to a post World War Two low of 120.45 yen in Tokyo trade. The Bank of Japan intervenes to buy dollars and sell yen.
1991 - 1992 - Bank of Japan intervenes to support the yen, selling U.S. dollars.
1993 - Bank of Japan sells yen through much of the year to curb its strength.
April 1994 - August 1995 - Dollar sinks to a record low against the German mark and a post-war low against the yen. The United States intervenes repeatedly, often with Japanese and European central banks, to prop up the greenback.
1997 - 1998 - The Asian financial crisis sees the yen weaken to nearly 148 to the dollar in August, even after U.S. authorities join the Bank of Japan to buy yen.
January 1999 to April 2000 - Bank of Japan sells yen at least 18 times, including once via the Federal Reserve and once via the European Central Bank, due to worries a strong yen will choke off an economic recovery. Yen continues to strengthen.
Sept 2001 - Bank of Japan intervenes to sell yen after the Sept. 11 attacks in the United States. The ECB and New York Federal Reserve both operate on behalf of the BOJ.
May-June, 2002 - Bank of Japan intervenes to sell yen, often supported by the Federal Reserve and ECB. The yen continues to gain.
March 2004 - The end of a 15-month campaign to curb the yen's rise in which Japan spends a total of 35 trillion yen, or more than $300 billion, on intervention.
Sept. 15, 2010 - Japan intervenes in the currency market for the first time in six years, selling yen to stem a rise in the currency after the dollar hits a 15-year-low at 82.87 yen.
March 18, 2011 - G7 nations jointly intervene to stem yen strength when the currency spikes to a record high in the aftermath of a massive earthquake, on speculation that Japanese firms would repatriate foreign assets to pay for reconstruction.
Aug and Oct - 2011 - Japan intervenes to curb gains that officials fear threaten to derail recovery from an economic slump triggered by the March earthquake and tsunami.
**Reuters Article
In Black you have the BOJ and possible other nations intervening when the JPY is strong.
In Green you have the Bank of Japan/other nations intervention when the JPY is weak or the Dollar is overvalued.
We are right at the 24 year mark since the last time BOJ intervened to curb the strength which corresponds with the 24 year low we are at.
Be safe out there with your longs.
1973 - Japanese monetary authorities decide to let the yen float freely against the greenback.
1985 - The Group of Five industrial nations, the predecessor to the G7, sign the Plaza Accord in which they agree that the dollar is overvalued and that they will move to weaken it.
1987 - In February, six of the G7 nations sign the Louvre Accord, which aims to stabilise currencies and halt the dollar's broad decline.
1988 - On Jan. 4, the dollar falls to a post World War Two low of 120.45 yen in Tokyo trade. The Bank of Japan intervenes to buy dollars and sell yen.
1991 - 1992 - Bank of Japan intervenes to support the yen, selling U.S. dollars.
1993 - Bank of Japan sells yen through much of the year to curb its strength.
April 1994 - August 1995 - Dollar sinks to a record low against the German mark and a post-war low against the yen. The United States intervenes repeatedly, often with Japanese and European central banks, to prop up the greenback.
1997 - 1998 - The Asian financial crisis sees the yen weaken to nearly 148 to the dollar in August, even after U.S. authorities join the Bank of Japan to buy yen.
January 1999 to April 2000 - Bank of Japan sells yen at least 18 times, including once via the Federal Reserve and once via the European Central Bank, due to worries a strong yen will choke off an economic recovery. Yen continues to strengthen.
Sept 2001 - Bank of Japan intervenes to sell yen after the Sept. 11 attacks in the United States. The ECB and New York Federal Reserve both operate on behalf of the BOJ.
May-June, 2002 - Bank of Japan intervenes to sell yen, often supported by the Federal Reserve and ECB. The yen continues to gain.
March 2004 - The end of a 15-month campaign to curb the yen's rise in which Japan spends a total of 35 trillion yen, or more than $300 billion, on intervention.
Sept. 15, 2010 - Japan intervenes in the currency market for the first time in six years, selling yen to stem a rise in the currency after the dollar hits a 15-year-low at 82.87 yen.
March 18, 2011 - G7 nations jointly intervene to stem yen strength when the currency spikes to a record high in the aftermath of a massive earthquake, on speculation that Japanese firms would repatriate foreign assets to pay for reconstruction.
Aug and Oct - 2011 - Japan intervenes to curb gains that officials fear threaten to derail recovery from an economic slump triggered by the March earthquake and tsunami.
**Reuters Article
Swing the AXE..HARD w/ Effort, Consistency and Patience
- Joined Dec 2021 | Status: hungry for pizza & burgers | 2,542 Posts
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
Thanks for info, HTG. What makes me woried is the speed which it declines, also the percentage. Be careful only comparing historical prices. It is a difference if you go down from 200 to 100 yen (-50%) or go up from 100 to 200 yen (+100%). So the upmove currently is extremely massive. In one year, the yen lost 35% (curently) of its value. Of course it is Japan but Japan has lots of problems with it's age structure etc. So in future Japan will probably decrease - in everything so the yen weakens more and more. I wonder if that is the start now. Also...
Either way, JPY is weak (obvious right) and I agree and its in my playbook that the JPY will continue to weaken, even in the event of some sort of correction/intervention price will likely return and higher, I would evaluate at that time. Currently short and protected, its a day to day assessment for me.
My point at these levels was to just be safe with longs, trend is your friend but this is not the place to get long in my opinion. As for the historical information, I thought the image was just interesting to review.
There are probably plenty of people caught long up here above 136.00
If this can gain some momentum the rest of the week, we could see a decent drop over the coming weeks.
Lets focus, manage the trade in whatever direction trading and win the day!
Swing the AXE..HARD w/ Effort, Consistency and Patience
- Joined Sep 2020 | Status: Trader | 8,311 Posts
Merry morning fellow traders. I just came back from a humble vacation. Been only managing swings and position trades for the last month or so, and from a phone for once 
!!!!! Was nice till it lasted.
Am probably and finally adding another long to
at last. This little guy didnt give a headache like some of my other positions. Barely 40pips drawdown if I remember correctly, Thank you plummeting beautiful Yen!
Let's see if I can get another one like that
:
In high quality 12H based trend/momentum/ripe volatility at last(that could blow up in my face!), am attacking the significant highs of the 15th&16th of June = Buy Stop 135.60.
3rd time the charm? Wish me luck
! Cheers !
!!!!! Was nice till it lasted.Am probably and finally adding another long to
if attacks my mid range special again >129.75, I get back in long with this beauty soon. 12H pullback. buy stop 129.8
Let's see if I can get another one like that
:In high quality 12H based trend/momentum/ripe volatility at last(that could blow up in my face!), am attacking the significant highs of the 15th&16th of June = Buy Stop 135.60.
3rd time the charm? Wish me luck
! Cheers !
If I don't mention SL and/or TP = longer-term setup possibly in the works!
- Joined Jul 2013 | Status: Trader | 2,788 Posts
Merry morning fellow traders. I just came back from a humble vacation. Been only managing swings and position trades for the last month or so, and from a phone for once
- Joined Sep 2020 | Status: Trader | 8,311 Posts
{quote} trend is still up...
, why are you saying it in response to my post?
If I don't mention SL and/or TP = longer-term setup possibly in the works!
- Joined Dec 2021 | Status: hungry for pizza & burgers | 2,542 Posts
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
- | Joined Mar 2011 | Status: Born to Rule my World. | 610 Posts
Born to rule my Economic World and Make a Difference!
- Joined Dec 2021 | Status: hungry for pizza & burgers | 2,542 Posts
don't believe in mumbo jumbo from gurus & charlatans, don't pay them money
- Joined Jul 2013 | Status: Trader | 2,788 Posts
{quote}?Hi mate