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USD/JPY Discussion

  • #18,601
  • Sep 14, 2010 9:00pm Sep 14, 2010 9:00pm
Quoting forex_newguy
according to forexlive BOJ confirms intervention ..
Bloomberg just confirmed it as well.
  • #18,602
  • Sep 14, 2010 9:00pm Sep 14, 2010 9:00pm
So this is Noda's "decisive" action huh?

http://www.forexlive.com/132060/all/...vention-by-boj
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  • #18,603
  • Sep 14, 2010 9:01pm Sep 14, 2010 9:01pm
Quoting need-help
This thing could go down just about as fast. I believe this is a speculative bubble that could burst pretty soon. I have taken a small short on this. Let's see...
are you selling?

I'm also thinking the same, good place to sell now, phoney intervention fired a lot of short coverings
  • #18,604
  • Sep 14, 2010 9:01pm Sep 14, 2010 9:01pm
  •  supun
  • | Joined Sep 2010 | Status: Filling a tea-cup from a fire hose | 6 Posts
well.... I made 40+ pips on two positions. And of course, regret the chicken-out!

this looks like an artificial boost by the higher-powers! Now I have two counter trend positions open and hoping for a comedown!
  • #18,605
  • Sep 14, 2010 9:01pm Sep 14, 2010 9:01pm
What's with USD/JPY hiking up > 100 pips?! BoJ intervention?
Make your losses in demo. Earn your profits live.
  • #18,606
  • Sep 14, 2010 9:02pm Sep 14, 2010 9:02pm
Quoting kandarv
are you selling?

I'm also thinking the same, good place to sell now, phoney intervention fired a lot of short coverings

I agree it will shoot down fast, but they need 85 to make a difference, so dont be surprised if they try to get it there first ..
  • #18,607
  • Sep 14, 2010 9:03pm Sep 14, 2010 9:03pm
Quoting forex_newguy
i think they need it north of 85 to make a difference ...
I think that against are real news from Japan. Thats the reason why yen was strengthening. It is possible it ll reach 85, however, after I will short until it retrace where it is right now

I may be mistaken...
  • #18,608
  • Sep 14, 2010 9:06pm Sep 14, 2010 9:06pm
I think it is too early to short. It is just 30 mis from intervention
  • #18,609
  • Sep 14, 2010 9:06pm Sep 14, 2010 9:06pm
Quoting forex_newguy
any idea how long this will last and how hi it could go?
Blue pill can last for half an hour. Hope the red one will last till end of the month till the Jap companies repatriate the yen
  • #18,610
  • Sep 14, 2010 9:07pm Sep 14, 2010 9:07pm
The strange thing is that BoJ must be selling yens or buying usd. If they were buying usd should be reflected on other pairs as EURUSD & AUDUSD but there's no apparent reaction. So how they are doing this?
  • #18,611
  • Sep 14, 2010 9:09pm Sep 14, 2010 9:09pm
Quoting kandarv
The strange thing is that BoJ must be selling yens or buying usd. If they were buying usd should be reflected on other pairs as EURUSD & AUDUSD but there's no apparent reaction. So how they are doing this?

theyre selling yen on the open market....uj is bringing usd pairs down, along with terrible numbers from aud data.
  • #18,612
  • Sep 14, 2010 9:10pm Sep 14, 2010 9:10pm
Quoting kandarv
The strange thing is that BoJ must be selling yens or buying usd. If they were buying usd should be reflected on other pairs as EURUSD & AUDUSD but there's no apparent reaction. So how they are doing this?
selling yen i think, this is allready mentioned by some news a few day before.
this the news from Bloomberg: http://www.bloomberg.com/news/2010-0...ervention.html
  • #18,613
  • Sep 14, 2010 9:11pm Sep 14, 2010 9:11pm
Quoting mfoste1
along with terrible numbers from aud data.
At first that is what I thought it was but then it kept on rising.
  • #18,614
  • Sep 14, 2010 9:11pm Sep 14, 2010 9:11pm
Hi,
Yeah I had taken a small short at 8410 with SL at 30. Took me out. This thing is sure to hit 85 today if not beyond. But again, I think we will see a nice red candle on the daily by Friday. This may be a bonus opportunity for big money to load additional shorts. Who knows.

I'm also thinking the same, good place to sell now, phoney intervention fired a lot of short coverings[/quote]
  • #18,615
  • Sep 14, 2010 9:11pm Sep 14, 2010 9:11pm
Quoting kandarv
The strange thing is that BoJ must be selling yens or buying usd. If they were buying usd should be reflected on other pairs as EURUSD & AUDUSD but there's no apparent reaction. So how they are doing this?
If they "create" yen into circulation at the stroke of a computer key, it will not affect other currencies. (in the very near short term)
  • #18,616
  • Sep 14, 2010 9:11pm Sep 14, 2010 9:11pm
Looks like it's still going up. I would wait until there are reversal signs and then short. If this is just a 1 time intervention deal, the price will eventually correct itself.
Make your losses in demo. Earn your profits live.
  • #18,617
  • Sep 14, 2010 9:14pm Sep 14, 2010 9:14pm
With the strong support, Kan is now confident. His first priority is to take care of the yen and he is doing that. I wouldnt short this for a few days.
  • #18,618
  • Sep 14, 2010 9:14pm Sep 14, 2010 9:14pm
Quoting kandarv
The strange thing is that BoJ must be selling yens or buying usd. If they were buying usd should be reflected on other pairs as EURUSD & AUDUSD but there's no apparent reaction. So how they are doing this?
I think BoJ is selling JPY's but leaving USD's pretty much untouched. If they were buying USD's, all the other pairs involving USD's like EUR/USD or GBP/USD's would be affected too but they didn't move much if at all. Only the pairs involving JPY's like the crosses (EUR/JPY, GBP/JPY) are moving almost in lock-step with USD/JPY.
Make your losses in demo. Earn your profits live.
  • #18,619
  • Sep 14, 2010 9:15pm Sep 14, 2010 9:15pm
Quoting need-help
Hi,
Yeah I had taken a small short at 8410 with SL at 30. Took me out. This thing is sure to hit 85 today if not beyond. But again, I think we will see a nice red candle on the daily by Friday. This may be a bonus opportunity for big money to load additional shorts. Who knows.
I'm not selling it yet... London boys are gonna love this!
  • #18,620
  • Sep 14, 2010 9:17pm Sep 14, 2010 9:17pm
Quoting Forexia
Looks like it's still going up. I would wait until there are reversal signs and then short. If this is just a 1 time intervention deal, the price will eventually correct itself.
Forexa, if the markets were truly "free" yes it would.
They are not, and are completely artificial. If the central bank has a target, and in this case a decision to reverse a trend, it will happen, because they can make it happen.
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