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USD/JPY Discussion

  • #18,401
  • Sep 7, 2010 11:05pm Sep 7, 2010 11:05pm
Quoting mfoste1
longs are starting to throw the towel in.......
Usually makes for very eventful days
  • #18,402
  • Sep 7, 2010 11:07pm Sep 7, 2010 11:07pm
Quoting sidhujag
Usually makes for very eventful days

I have buy orders at 8265 stops 8235.....
  • #18,403
  • Sep 7, 2010 11:13pm Sep 7, 2010 11:13pm
It actually broke through. All those horizontal lines is where i didnt want to trade in.
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  • #18,404
  • Edited 12:28am Sep 8, 2010 12:07am | Edited 12:28am
Quoting PipVip
If I were China, and I were pissed off at the fiscal irresponsibility of the Obama administration for devaluing my investment in US Debt, and Japan was my arch enemy, well...

I would buy a crap load of Japanese Yen, and let the BOJ buy those worthless dollars to stabilize the Yen.

Make Sense?
Yes, it makes sense and you are right on the money. In recent months, the PBoC has been increasing its purchases of Japanese bonds. In order to buy Japanese bonds they would first have to buy yen. They have also decreased their US bond purchases and are allocating that money to emerging nations' bonds. Some pages ago I even posted a pdf on that topic: http://www.forexfactory.com/showpost...ostcount=17875

EDIT.
In other news, Kathy Lien chips in on the yen strength, spelling out the possibility of intervention between 79.95-82 just before the elections. http://www.fx360.com/commentary/kath...-aversion.aspx
If you don't risk, you don't ever have to lose.
  • #18,405
  • Sep 8, 2010 8:41am Sep 8, 2010 8:41am
There is a rumor about BOJ preparing for intervention tonight.

http://www.forexlive.com/130565/all/...the-rumor-mill

.
  • #18,406
  • Sep 8, 2010 8:42am Sep 8, 2010 8:42am
Looks like everybody is taking a break from trading...or at least visiting the UJ thread, anyway. While you were away, this came out:
One from the rumor mill
I just report ‘em kids, so don’t kill the messenger: there is a rumor that Japanese banks have been told to prepare for intervention tonight.
Even the dysfunctional BOJ is not stupid enough to let the cat out of the bag before intervening…You want the market unprepared, to maximize the effect…
Sounds very fanciful to me…
USD/JPY did rally this morning on rumored BOJ rate checking and bounced again after the Bank of Canada decision as hedge funds bought CAD/JPY. Small stops are seen above the 84.05 level.
Source: http://www.forexlive.com/130565/all/...the-rumor-mill
If you don't risk, you don't ever have to lose.
  • #18,407
  • Sep 8, 2010 9:02am Sep 8, 2010 9:02am
Quoting bug
Looks like everybody is taking a break from trading...or at least visiting the UJ thread, anyway. While you were away, this came out:
One from the rumor mill
[i]I just report ‘em kids, so don’t kill the messenger: there is a rumor...

any guess as to target if there is BOJ intervention? 85.x? 86.x? etc
  • #18,408
  • Sep 8, 2010 9:05am Sep 8, 2010 9:05am
Quoting 7bit
There is a rumor about BOJ preparing for intervention tonight.

http://www.forexlive.com/130565/all/...the-rumor-mill

.
Will it be for real this time?

They have been complaining for weeks that BoJ alone can't intervene efficiently, that they need a multinational support for the task, but no one's really interested in helping the yen. After that, some Japanese investors said that they will take advantage of a strong yen to make investments abroad.

If they intervene alone and the effect is not strong enough, they will give a bad signal to the market, a sign of weakness that could drive even a deeper drop later in the month.

Anyway a strong movement should be expected if they do so. Good luck.
  • #18,409
  • Edited 9:29am Sep 8, 2010 9:14am | Edited 9:29am
I have a placed a sell order for this biatch at 84.49. So far it is playing out beautifully in a downward channel. but first let's see if it breaks 84.09.

good luck to all

Edit:
Added a sell order at 84.09 too.
  • #18,410
  • Sep 8, 2010 9:46am Sep 8, 2010 9:46am
4H chart
Attached Image
  • #18,411
  • Sep 8, 2010 9:53am Sep 8, 2010 9:53am
Quoting 7bit
There is a rumor about BOJ preparing for intervention tonight.

http://www.forexlive.com/130565/all/...the-rumor-mill

.

what's new.....they have been saying this for weeks
  • #18,412
  • Sep 8, 2010 9:54am Sep 8, 2010 9:54am
Quoting TheArcher
4H chart
What are all those indicators for? Do they really help you? Not trying to bully you or belittle the use of indicators, just asking.
If you don't risk, you don't ever have to lose.
  • #18,413
  • Sep 8, 2010 10:42am Sep 8, 2010 10:42am
Quoting bug
What are all those indicators for? Do they really help you? Not trying to bully you or belittle the use of indicators, just asking.
yes , for me , it does give me some general guide .
  • #18,414
  • Sep 8, 2010 4:05pm Sep 8, 2010 4:05pm
Hi everyone,
Well I have canceled the sell order at 84.09 since it wasn't hit today. My hourly chart indicates the start of an uptrend on the UJ. I don't know how long it will last but that is what I see at the moment. I have placed a buy order at 83.54. My sell order is at 84.49 is still intact.

Good luck to all.
  • #18,415
  • Sep 8, 2010 5:00pm Sep 8, 2010 5:00pm
Quoting mfoste1
what's new.....they have been saying this for weeks
They have indeed....and it's becoming....no, it has become....a joke. You know the story about the boy who cried 'wolf!'

From another angle though, Kathy Lien made the point that with the upcoming election in Japan, which is neck and neck at the moment, if the govt can act and get the exchange rate down (even for the short term), it might provide the edge needed to win the votes! I think this is a valid point given the way polititions behave, and seeing as the election day is on the 14th, I couldn't do too much harm to place a buy order, or even enter a buy trade at the right place.

I was so busy yesterday that I couldn't trade, but I will be looking for a good place to buy from today....with the appropriate stops of course!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,416
  • Sep 8, 2010 5:14pm Sep 8, 2010 5:14pm
Quoting realjumper
They have indeed....and it's becoming....no, it has become....a joke. You know the story about the boy who cried 'wolf!'

From another angle though, Kathy Lien made the point that with the upcoming election in Japan, which is neck and neck at the moment, if the govt can act and get the exchange rate down (even for the short term), it might provide the edge needed to win the votes! I think this is a valid point given the way polititions behave, and seeing as the election day is on the 14th, I couldn't do too much harm to place a buy order, or even...
the only reason I don't want to take the risk and try to counter this trend is because it's so strong.....What alarms me is the crossroads that equities markets are currently at. All it would take for this to go down to 80 would be a nice 5% equity sell-off. Granted, it doesn't move as much as other pairs, but when it moves, it moves fast. It's starting to look like a lot of institutional longs are throwing the towel in as well.....it's been struggling the past 3 days to break above 84.
  • #18,417
  • Sep 8, 2010 5:28pm Sep 8, 2010 5:28pm
Quoting mfoste1
the only reason I don't want to take the risk and try to counter this trend is because it's so strong.....What alarms me is the crossroads that equities markets are currently at. All it would take for this to go down to 80 would be a nice 5% equity sell-off. Granted, it doesn't move as much as other pairs, but when it moves, it moves fast. It's starting to look like a lot of institutional longs are throwing the towel in as well.....it's been struggling the past 3 days to break above 84.
The downtrend has been strong, and as you say, it could rush down to 80 in the blink of an eye. I think a well placed long somewhere around here though might be worth the risk....I'm prepared to risk 50 for 500. Just got to find the sweet spot to enter!!

More from the rumour mill here: http://www.forexlive.com/130705/all/...nd-jpy-crosses
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,418
  • Sep 8, 2010 5:31pm Sep 8, 2010 5:31pm
Quoting realjumper
They have indeed....and it's becoming....no, it has become....a joke. You know the story about the boy who cried 'wolf!'

From another angle though, Kathy Lien made the point that with the upcoming election in Japan, which is neck and neck at the moment, if the govt can act and get the exchange rate down (even for the short term), it might provide the edge needed to win the votes! I think this is a valid point given the way polititions behave, and seeing as the election day is on the 14th, I couldn't do too much harm to place a buy order,...
Everytime I think of this image....

Attached Image
  • #18,419
  • Sep 8, 2010 5:37pm Sep 8, 2010 5:37pm
Quoting bablo
Everytime I think of this image....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,420
  • Sep 8, 2010 6:58pm Sep 8, 2010 6:58pm
Best post ever haha
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