I shorted at 101.40. Went down nicely 
- #12,130
- Oct 17, 2008 8:21pm Oct 17, 2008 8:21pm
- | Membership Revoked | Joined May 2008 | 3,395 Posts
The Market pays you to be disciplined
- #12,132
- Oct 17, 2008 9:03pm Oct 17, 2008 9:03pm
Looks like usd-jpy stalls at 101.77 at top of trendline. Short from here unless we have a clear break up.
- #12,137
- Oct 18, 2008 4:31am Oct 18, 2008 4:31am
The way i read it, this pair is going to stay in this range (100-102) for a while. BOJ cant lower rates and i dont think the FED will also. Japan is bottoming out, USA is bottoming in. Perhaps we'll see where it goes after the election. If Obama wins it'll be grand for Japan economy as well, because of the clean energy plan. Very good for Toyota, Honda and a lot of nippon hi-tech manufacturers. That might boost the yen a tad. But for the sake of the economy, a 98-102 range for 2009 is the best scenario, although FED increasing rates might take it near the 90's range. If it rises above 105, BOJ will likely flood the market to bring it down.
That's what i see in my crystal ball
That's what i see in my crystal ball
The way i read it, this pair is going to stay in this range (100-102) for a while. BOJ cant lower rates and i dont think the FED will also. Japan is bottoming out, USA is bottoming in. Perhaps we'll see where it goes after the election. If Obama wins it'll be grand for Japan economy as well, because of the clean energy plan. Very good for Toyota, Honda and a lot of nippon hi-tech manufacturers. That might boost the yen a tad. But for the sake of the economy, a 98-102 range for 2009 is the best scenario, although FED increasing rates might take it near the 90's range. If it rises above 105, BOJ will likely flood the market to bring it down.
That's what i see in my crystal ball
- #12,140
- Oct 18, 2008 9:57am Oct 18, 2008 9:57am
Looks like usd-jpy stalls at 101.77 at top of trendline. Short from here unless we have a clear break up.
