equity selloff helping the USD rebound here in an impulsive wave and this could be the much expected short-term buttom for usd ... regarding the usdjpy i stay away because i have no bias on the future moves...
Auslanco 15min GBP/JPY startegy 630 replies
Auslanco-GBP/JPY Strength Indicator strategy 344 replies
My MT4 indicators for Auslanco's strategy 92 replies
Questions About Auslanco's Trades 72 replies
DislikedUSD/JPY..looks like making a small Head and Shoulder...4HR TF...
If so ...88.50 minimum... Till then no need to sell EURO...Patience..
Then from there long...107.00 by Next year.Ignored
DislikedIf it is going to fall......the big dogs....who turn the market.....BOJ....will let it fall to make the most of it.Ignored
Yesterday morning, Democratic Party of Japan (DPJ) executives endorsed incoming Prime Minister Yukio Hatoyama’s nomination of mentor and founding party member, Ichiro Ozawa, as Secretary General. Ozawa's appointment knocks out resident DPJ-austerian Katsuya Okada from the position. Okada, who already gets too much press in the Western media for talking about the need to raise Japan's consumption tax to 5% and has been a potential threat to the DPJ’s general growth-positive economics, will become Foreign Minister. For this reason alone, this development is a positive change at the margin.
Ozawa's appointment is also important because it may pave the way for monetary figures, such as Eisuke Sakakibara, to establish a strong yen policy and at the same time steer Tokyo down the path toward an eventual Asian monetary union with the Chinese and the South Koreans.
Sakakibara, of course, is known as "Mr. Yen" for his work between 1997 and 1999, during which time he consistently (and correctly) argued for a weaker yen amidst the painful Japanese deflation. He also suggested the creation of an Asian Monetary Fund during the Asian crisis. He has been a staunch ally of Ozawa and unabashed about the virtues of a stronger yen today. Indeed, most of what Sakakibara says on forex issues is consistent with someone who understands the importance of stable currency values, in real terms -- particularly with respect to gold.
Last November, Sakikabara broke with the devaluationist export-led growth creed, touting the anti-inflationary benefits of a stronger yen, advocating a yen-dollar rate of 80-85/USD. As he said at the time, “a strong yen is in the national interest of Japan, particularly in this situation when raw material prices will increase.” Given current circumstances, where the dollar-gold price has breached the $1,000/oz level and could continue to drift higher, a stronger yen policy would certainly help reduce the inflationary pressures filtering through the yen-based economy.
Even though it is unclear in what actual capacity or cabinet position Sakakibara might serve in the new DPJ government, other potential DPJ financial experts appear to be speaking of a same mind, pronouncing similar strong-yen, anti-export led growth formulations that Sakakibara made last November. For instance, Deputy Finance Spokesperson Kehai Otsuka said last week, "The Democrats have for many years called for a domestic demand-led economy. Generally speaking, a strong yen brings more merits as it helps raise the people's purchasing power." And 77-year old Hirohisa Fujii who is being touted as Japan’s likely next Finance Minister said recently, "There's no need to take policy steps to help the yen rise but it's wrong to try to boost exports by driving the yen low…Basically, a strong yen is good for Japan." He added that a strong yen would help reduce Japan's import costs and boost consumers' purchasing power.
On balance, the yen-dollar rate has strengthened 8% to roughly 92/USD from 100/USD last April. And this without any Bank of Japan forex intervention. The likely reason is that forex markets have been reading the ‘political’ market. It was uncertain whether, when the yen was weak last April, who would lead the DPJ – austerian Okada or the more pro-growth Hatoyama (who is an Ozawa protege) – given that Ozawa would likely depart as DPJ head due to an ongoing aide scandal. In mid-May, Hatoyama won the intra-party election to be party leader, and solidified the party’s pro-growth direction, helping it to soar at the polls. With the DPJ landslide election victory on August 30 and the preferences for a strong yen by the party's financial leaders, we think the yen-dollar rate could continue moving lower, perhaps to 85 by year end.
Dislikedthey trimmed gold again lolIgnored
DislikedI posted yesterday that the big boys are shorting the gold..
DislikedWhy I feel that most of you turned bullish, prices went down 100 pips after the report and still no clear support, I'm still short waiting for 2 levels to be broken 148.50 and 148, a 4 hrs close below these levels will push the prices down to even lower levels, I started to read 155, and even 159, are you that bullish, is there a clear sign that will bring prices to these levels? even before the report I heard silence from most of the members here which gave me an impression that most of you are bullish and scared from the FOMC, even after the report...Ignored
DislikedIf the Red LINE IS BROKEN then Down..( may be a FAKE OUT).
iF NOT Target is 1.04xx
Attaching euro/usd long term chart...saved months ago..and is playing.Ignored
DislikedWell, as I said before, I think there will be a major retracement coming.. As I am a swing trader, I maintain my bullish view for GJ, UJ & GU.. I'm not sure if my view will suit for scalping or intraday trading.. but I have only 1 pos open near the bottom and still have no plan to add into it.. (maybe after 153.50 breakout??)..Ignored