That's nice - Nikkei went up to 530 points.. GJ stayed stuck. Now as nikkei drops a bit.. GJ starts to move. My logic is completely out of the window right now
How will the rate effect the pair? A JP rate cut and we go higher?
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If they cut rates.. then definitely GJ will be higher.. shoot up. Most likely they will keep it the same (though they should cut in the current scenario - strong Yen hurts the economy)
And if they hike rates.. lol, I'm not touching GJ at all
If they cut rates.. then definitely GJ will be higher.. shoot up. Most likely they will keep it the same (though they should cut in the current scenario - strong Yen hurts the economy)
And if they hike rates.. lol, I'm not touching GJ at all
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So i would guess if they keep it the same we may possibly see it dip by looking at its current action.
If rates remain the same for usd/jpy how will the gbp/jpy react?
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I still think GBP/JPY should go up if rates are not changed. The markets needed a sign of confidence from the FEds, and they more than displayed that today. The BoE is also supporting Northern Rock and other banks.
I see no reason why UJ/GJ should drop unless people are just plain fearful no matter what actions banks take. I'm expecting at least the Japanese housewives to start snapping up carry pairs
What time is the rate going to be announced, can't find that info., says tentative here.
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JPY int rate decision is usually someshere between 2300-0100 EST
followed by comments @0100 -0130
There is no way in hell rates get cut and they are not going to raise them either so get ready to go long
on the 15 signal...I have an issue with the dot...lately I have been refering to dot as the "DOT OF DEATH". I feel that when that dot forms that is the ear mark of the end of the trade. Anyone else get that feeling?
This is my fundamental overview that colours my thinking about the long term USD market.
I definitely believe that the $USD is going to weaken over the next few months. As I have stated before, my long term target over the next 12 months is 1.4500.
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As I said in my initial posts (see post 8), I believe that there has been a seismic shift in the "strength" of the US dollar as the worlds primary currency.
This seismic shift moved the USD from 1.2000 to 1.3800.
I now believe the next step in this seismic shift will move the US dollar from its current figure of 1.3400 to 1.4500 within 12 months
Our foolish politicians have irresponsibly squandered the enormous wealth of the US on stupid follies (Can anyone put their hand on their hearts and say that the people of Iraq are better off today than before we went in chasing "mythical" weapons of mass destruction? We have totally destroyed a country for no "justifiable" reason and sent their people back to the stone age living standards. Congratulations, George W....the rest of the world salute you.)
Also, due to the Asian meltdown, the Iraq situation, and also now the Credit meltdown caused by dishonest US bankers, the US is fast losing the trust and "good faith" of the world's political elite and the worlds major business players.
When the sh*t hits the fan, don't expect the rest of the world to want to bail us out.
The USD is going to get into trouble sooner and worse than people think.
But....I could be wwwrong !!!
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I posted this on 8/22/2007 when the market was at 1.3450.
It has now reached 1.3987 (which is more than 50% towards the target) in less than one month.
I think that it may take less time than 12 months to reach 1.4500.
The really sad thing is that our own President and his cronies/supporters have prostituted the USD and damaged our economic reputation far, far more than any enemy force could have done.
It is becoming very obvious that the world no longer sees the USD as THE major world currency. The usd will soon be just "another" currency, along with the Euro, Yen, CHF, GBP and Yuan.
It is sad, really sad to see a mighty force (USD) being humiliated in such a stupid way.
on the 15 signal...I have an issue with the dot...lately I have been refering to dot as the "DOT OF DEATH". I feel that when that dot forms that is the ear mark of the end of the trade. Anyone else get that feeling?
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AUS has modified the 15m signal...only take sell signal when it is below the daily pivot...only take buy signal when it is above the daily pivot....so the sell signal for now, according to his modification, is not a good trade. hope that helps
Auslanco - GBP/JPY and GBP/USD (newstrade)