I'm selling from 133.25, stop loss is set at 2 pips positive =). I seriously don't see her making it past 132.00 without the Bank of England burning a pile of cash first. good luck guys
peace and love
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Dislikedtrendlines must always be parrallel with each other and not all to one focus point!Ignored
DislikedSo, unless you're a Japanese political insider who knows something the rest of us don't, making any grand prediction on the Japanese Yen right now is just an uniformed guess.Ignored
DislikedWell I'm finding that out right at the moment.
Took a long few hours ago @ 130.68, and it's not getting anywhere yet.
I put a tight stop @ 130.40 so if that's taken out it is not a big loss.
I would think we would get some sort of retrace after almost 300 pips down in 16 hours.
ShamuIgnored
DislikedWell I'm finding that out right at the moment.
Took a long few hours ago @ 130.68, and it's not getting anywhere yet.
I put a tight stop @ 130.40 so if that's taken out it is not a big loss.
I would think we would get some sort of retrace after almost 300 pips down in 16 hours.
ShamuIgnored
DislikedA retrace may be in the cards, maybe not. Look at UJ Daily.
Personally, I'd wait for a better signal to go long.Ignored
DislikedSo, unless you're a Japanese political insider who knows something the rest of us don't, making any grand prediction on the Japanese Yen right now is just an uniformed guess.
.Ignored
Dislikedgj 1hr broken to the downside and sitting on 61.8 .
Also daily looking very bearish.Will not take longs until I get a clear confirmation.Why fight the daily trend ?????????Ignored
DislikedMaybe, maybe not. We can note that not only has intervention failed in the past on almost all occasions by BoJ and other CBs (as BoJ pointed out themselves recently, without a concerted intervention by multiple CBs intervention will fail) - we can also note that each intervention is costing more and working less and less as market forces and simple mathematics take over. The SNB managed to take on roughly 45% of their countries GDP in EUR denominated forex reserves as they tried to stem the tide and they failed.
Look at the Nikkei....Ignored
Dislikedyes, daily looks bearish but take a look at weekly - last week looks interesting, and more interesting is the fact that friday was not able to close below 132.10 (which is last trimester closing value).Ignored
Dislikedgj 1hr broken to the downside and sitting on 61.8 .
Also daily looking very bearish.Will not take longs until I get a clear confirmation.Why fight the daily trend ?????????Ignored
DislikedAlso, it's true smaller exporters are feeling the pinch of a stronger yen, but the larger corporations have diversified globally, so are feeling the pain to a lesser degree. If this were the 1980's the strong Yen would have much larger ramifications than it does now.Ignored
QuoteDislikedThe executive said that when the dollar weakens by one yen, it reduces Suzuki's annual operating profit by Y4 billion. Suzuki expects an operating profit of Y80 billion for this fiscal year through March.
QuoteDislikedToyota Motor Corp, the world’s largest carmaker, calculates that every one-yen gain in the Japanese currency against the dollar reduces its annual operating profit by 30 billion yen ($US355 million). Sony Corp, which earns more than 70 per cent of its revenue outside Japan, sees about one billion yen cut off its annual operating profit for each one-yen rise in the currency.
QuoteDislikedHowever, like Sony, it said the stronger yen was taking its toll, and lowered its annual operating profit forecast to 530 billion yen from 630bn yen.
A stronger yen makes Japanese products less competitive and cuts into the value of overseas earnings.
Nintendo said its performance had been "adversely impacted by a large exchange loss due to the sharp appreciation of the yen".
QuoteDislikedBest of luck with your trades,
Fudo
Dislikedbuy @ 130.36 - stop below 130.00 ( PA should not go below 130) .
limit 135.90 ( spikes upto 136.40 is possible )
reverse to shorts @ 135.90
enjoyIgnored