Cable Update (GBPUSD)

whats going on with Yen,...friday aproches....there are too many japan news on the table,...what do you think we are going with the asia?...but on the other hand some inv.funds are going long on april the first,...any reason why (maybe it will drop hard)?...or is this only a joke....

Long YEN?

dont know....

Gains in the yen may prove short-lived on speculation newly established mutual funds will buy higher-yielding overseas assets when the financial year starts on April 1.
Japanese companies including Nomura Asset Management Co. from today will start selling more than 1.6 trillion yen of funds that invest in offshore securities, Bloomberg data show.


``Consumers are taking money out of Japan in search of higher yields in Australia and New Zealand,'' said Hideaki Inoue, chief manager of derivatives and fixed-income investment at Mitsubishi UFJ Trust & Banking Corp. in Tokyo. ``There's talk of a lot of mutual funds being launched this week, so there's a bias for selling the yen.''
Bank of Japan Governor Toshihiko Fukui yesterday said the central bank will keep borrowing costs low for the time being and will raise rates gradually.

Thats "short Yen". That's the kind of stuff I read. End of Japan fiscal year on Mar 31, then Yen down the hole across the board...

That's why no buyers are being found above 118.35 for days...

I'm trading this buying GJ dips since this morning (Tokyo) fall... tinywinnie lil lots for bigashit pips next week...

All I can see is buy towards 9600 and sell towards 9700. Around 9650, if you´re flat......use that well known trading tool.....the coin. LOL.

Look at this:

If you had used "the coin" by Frankfurt open on Monday, you would be at about B/E right now.

Much safer strategy than those I went along with...

http://fxtrade.oanda.com/resources/t...ve_GBP_USD.png

The above graphs show statistics on open orders, including limit orders, S/L and T/P orders. Depending on the graph type, the cumulative or non-cumulative distribution of orders is shown in each of 4 quadrants:

1. Top-right quadrant: Buy orders at a price above the current price
2. Bottom-right quadrant: Sell orders at a price above the current price
3. Bottom-left quadrant: Sell orders at a price below the current price
4. Top-left quadrant: Buy orders at a price below the current price

have u find out what caused that fall ? ? it seem awason

I wanted to show,that the levels around 2.0 are a very strong resistance.

Roger that...

http://www.imagefreehost.com/files/2...1410065408.gif

(uk) Blair: Says In Contact With Allies To Increase Pressure On Iran For Release; Iran's Seizure Of Vessel Was 'unacceptable'

(UK) UK TO FREEZE ALL BILATERAL BUSINESS WITH IRAN - FOREIGN MINISTRY
- Will keep other options under review

IRAN: SAYS UK SHIP SEIZURE WAS JUSTIFIED, SEEN AS AN 'INTRUSIVE ACT' - WIRE HEADLINE
- UK Vessel Seizure "Technical, Legal Issue"
- says UK Vessel Seizure Not Linked To Other Issues

- On the US Calendar today is the release of durable goods orders and durables ex-transportation, both of which are due out at 8:30am. Durable goods orders are expected to rise to 3.5% in February from their lowest level in over six years of -8.7% seen in January. Durables ex-transportation are expected to rise to 1.8% from their lowest level in nearly five years of -1.8% seen in January. There is no new supply today, however the Fed's Bernanke is scheduled to testify on the outlook for the US economy at 10:30am.
- Regarding durable goods orders, many analysts expect durable goods to rise after falling to its lowest level in over six years last month. Investors will be looking for big ticket aircraft orders to provide much of the lift for the figures as well as Into-Tech, and mining and oil field related orders. Some analysts believe that the sub-prime lending situation could have an adverse effect on certain components such as the construction and furniture components. Note that Boeing claimed 57 orders in February compared to 13 orders in January.
- The Fed's Moskow spoke about US monetary policy in Shanghai overnight, however Moskow reiterated comments made yesterday, neglecting to add anything new.
- In European economic news nationwide house prices fell by more than expected in March perhaps confirming the view of the BOE' Mervin King that the UK housing market is beginning to slow down. German GfK consumer confidence rose to 4.4 in Germany, below estimates of 4.5 for the month of April. Final Q4 GDP in the UK was revised down to 0.7% from the preliminary reading of 0.8% due to lower growth in the service sector. The ECB's Gonzalez-Paramo said overnight that interest rates in the Euro-Zone are still below those in other area, noting that growth remains robust. Paramo said that, in the medium-term, inflation risks persist, and said of the 2008 inflation outlook that it is slightly worse.
- In a quite night on the data front in Asia the Nikkei 225 closed down 0.64%, while the Hang Seng closed down 0.73%, and the ASX 200 closed down 0.69% in Australia.


From trade the news

IRANIAN DIPLOMAT SAYS IRAN NEEDS TIME TO REVIEW UK BILATERAL TALKS FREEZE

Nasty USD figure, big commotion, back to where we were ahead of Mr. Bernanke for more flush outs.

No direction whatsoever across the planet.

The [DOLLAR] shed 20 ticks across the board in response4 to another soft US data read, this time durable goods orders, down 0.1% mom ex transportation in Feb. Large stops under 116.90 are now drawing focus although there are reports of decent sovereign and Japanese bidding into the dip, similarly Euro sovereigns have been playing a fairly tight range in Eur/Usd with offers on strength, akin to current levels, (1.3355). Given the importance of Bernanke at 15.30GMT and the likely leadership of the DJI, fx specs may well rein in risk in the immediate term. Any sub 116.90 move should be reflected for the Usd in general.

We need a weak Dow Jones to see dollar rising.No one can afford to loose from weak dollar and weak Dow Jones,so if Dow Jones goes south dollar will start to rise.
GL GT