Daily GBP/JPY analysis

When will the next buy on dips?

Jap's data today looking good. So, YEN probably hit back 122.80's area once again

im wait for news

DOW wasn't too impressive earlier on, carry trades haven't been bought too much. Seems like a lack of confidence at the moment in buying.

Maybe watiing for Japan news first before we see some real movement.

End of week Friday maybe some profit taking?

I myself am not trading Yen just yet due to confidence.

yea my fren, I'm too not holding any YEN or YEN cross ATM
Still waiting for the Jap's news due in 10 min

wow, pity the rodent for being hit by double yellow line.
That;s a noob trading GJ, not a trader, in my view

LOL, not soon @ 250...
wow, GJ just drop 20 pips .... nice

Come on 500...

Price 246.55... not even close to 247

just wanted the 2nd 500 page on my name! gooo 501! :-D

Yen Heads for Biggest Quarterly Loss Since 2001 on Rate Gap

By Min Zeng
June 29 (Bloomberg) -- The yen headed for the biggest quarterly loss against the dollar since 2001 before reports that are forecast to show falling prices and slowing consumption.
The data may fuel speculation the Bank of Japan will refrain from raising borrowing costs, encouraging investors to look overseas to buy higher-yielding assets funded by loans in yen, known as a carry trade. Japan's currency has declined 4.3 percent against the dollar this quarter, weakening against all 10 major currencies tracked by Bloomberg.
``There's been so many disappointments with the CPI it's hard to see it surprising to the upside,'' said Peter Pontikis, treasury strategist at Suncorp-Metway Ltd. in Sydney. ``It will justify the fact that the yen is super cheap.''
Japan's currency traded at 123.17 per dollar at 8:15 a.m. in Tokyo. The yen was at 165.60 per euro and tumbled to a record low of 166.94 this month. It has declined 5.2 percent this quarter and hasn't gained since the second quarter of 2005.
The yen has dropped 3.5 percent against the dollar this half, compared with a 2.9 percent gain the year before. It has declined 5.4 percent versus the euro, exceeding a 4.5 percent slide in the first half of last year.
Core consumer prices in Japan, which exclude fresh food, probably fell 0.1 percent in May after declining the same amount a month earlier, according to the median forecast in a Bloomberg News survey. A separate report may show overall household spending rose 0.6 percent in May after a 1.1 percent increase in April. The data is due at 8:30 a.m. in Tokyo.
BOJ Rate
Japan's benchmark interest rate is 0.5 percent, the lowest in the industrialized world. It compares with 4 percent in the euro region, 5.25 percent in the U.S., 5.5 percent in U.K., 8 percent in New Zealand and 6.25 percent in Australia.
Japan's consumer prices are failing to rise even as the economy expands faster than its potential growth rate, Bank of Japan Governor Toshihiko Fukui said yesterday. The central bank aims to adjust interest rates at a gradual pace to achieve moderate price increases and long-lasting economic growth, he said.
``The yen is going to be one the weakest, if not the weakest, major currency,'' said Nicholas Bennenbroek, head of currency research in New York at Wells Fargo & Co. ``You still have a lot of liquidity finding its way into investments'' in carry trades.
The dollar rose against the yen yesterday after the Federal Reserve kept its benchmark rate unchanged and said inflation is a risk to the economy.
The Fed's statement that inflation is the ``predominant'' concern reduced speculation the central bank will cut borrowing costs later this year. The Fed has held rates unchanged for eight straight meetings, after raising its target to the current level a year ago. Higher rates can help the dollar by attracting foreign investment.

looks like we have not seen the back of the carry trade yet

She also deserves a spot in the 500th page...

http://the.honoluluadvertiser.com/da...260310AR_b.jpg

currently 680+ pips on yen trades alone. i feel like just banking it.

start test buy

just bank in and re-enter at dip... will happen again next week...

lol, not even close. I ordered 2 SHORT trucks, parked at highway 247.35

2 short trucks at 248.00

good idea.

but that means i have to click on buttons.
that's too much work.

let it roll.

May EUR/JPY force 166 resistance today?

haha i know

Bored and lazy.

And the pages depends on your settings. I only see 375 pages so 500 is relative. I would say post# 8000 gets is the next target.

Waiting for a dip or a break of resistance here to load up the rifle and go bear hunting. No cow tipping for me. Though will be on the look out for profit taking later. Not just yet still 12 odd hours away from that

Just sort of off topic for a second, but am I the only one that finds it funny that we have constant Japanese Housewife references on this thread when the majority of people reading trade exactly the same way?

Maybe we need to have some 'I am an honorary Japanese Housewife' t-shirts made up!