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USD/JPY Discussion

  • #18,621
  • Sep 14, 2010 9:21pm Sep 14, 2010 9:21pm
move is weakening, isnt it?
  • #18,622
  • Sep 14, 2010 9:22pm Sep 14, 2010 9:22pm
I see signs of reversal. I'm shorting now.
  • #18,623
  • Sep 14, 2010 9:22pm Sep 14, 2010 9:22pm
Quoting PipVip
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.
from forexlive ..

he last time the BoJ were active in the market was in 2004 and prior to that in 1997/1998. On both occasions the intervention went on for an extended period of time and succeeded in driving the USD/JPY considerably higher. That is why at least two big hedge funds have been so active over the last few weeks buying USD/JPY in expectation of some serious intervention. They expect that USD/JPY will reach 90.00 at a minimum and history suggests that they may be right. There will of course be some serious swings during this time so don’t be surprised to hear about these big players appearing on the offer from time to time, just as happened above 85.00 after US economic data a few days ago.
It is also interesting to note that the BoJ does not have the scope to diversify their USD purchases into EUR, GBP etc. These dollars will stay as dollars and hence the USD rally today against the other majors is managing to sustain itself for the moment at least.
  • #18,624
  • Sep 14, 2010 9:23pm Sep 14, 2010 9:23pm
Keep your stop tight folks, this is dangerous.
  • #18,625
  • Sep 14, 2010 9:23pm Sep 14, 2010 9:23pm
I'm all done at 84.50. No need to be greedy
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,626
  • Sep 14, 2010 9:24pm Sep 14, 2010 9:24pm
Quoting ttoony
move is weakening, isnt it?
Is it? Or is the BOJ just waiting for those ready to short so they can squeeze them back out of the market?

Tis hard to get a good price fill after the first few Yards. Need someone to knock it back down.
  • #18,627
  • Sep 14, 2010 9:25pm Sep 14, 2010 9:25pm
http://www.forexlive.com/132067/all/...s-more-to-come
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,628
  • Sep 14, 2010 9:26pm Sep 14, 2010 9:26pm
Quoting auxesis
Is it? Or is the BOJ just waiting for those ready to short so they can squeeze them back out of the market?

Tis hard to get a good price fill after the first few Yards. Need someone to knock it back down.
Agreed.....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #18,629
  • Sep 14, 2010 9:27pm Sep 14, 2010 9:27pm
Quoting PipVip
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.
Exactly!! So I would wait until there is a clear reversal sign and then short.
Make your losses in demo. Earn your profits live.
  • #18,630
  • Sep 14, 2010 9:27pm Sep 14, 2010 9:27pm
Funny, it was only yesterday that the new guy won the elections and with that the common theory was that he would be less likely to intervene and look at the very first thing that he does.



You never can tell.
  • #18,631
  • Sep 14, 2010 9:29pm Sep 14, 2010 9:29pm
Quoting auxesis
Is it? Or is the BOJ just waiting for those ready to short so they can squeeze them back out of the market?

Tis hard to get a good price fill after the first few Yards. Need someone to knock it back down.
I think the same, however, thing about not to be greedy and take what I have..
  • #18,632
  • Sep 14, 2010 9:30pm Sep 14, 2010 9:30pm
Now I know why people were predicting VIX to hit 45 by Friday!!!!!
  • #18,633
  • Sep 14, 2010 9:31pm Sep 14, 2010 9:31pm
Quoting sidhujag
Now I know why people were predicting VIX to hit 45 by Friday!!!!!
I certainly hope so. (My stop was hit, I'm out for now.)
  • #18,634
  • Sep 14, 2010 9:32pm Sep 14, 2010 9:32pm
Quoting sidhujag
Now I know why people were predicting VIX to hit 45 by Friday!!!!!

I have oct 10' 80 calls and jan 11 85 calls
  • #18,635
  • Sep 14, 2010 9:34pm Sep 14, 2010 9:34pm
Quoting Forexia
Exactly!! So I would wait until there is a clear reversal sign and then short.

you guys shouldnt even be playing this pair atm......anything goes w intervention, itll wipe out your entire acct.....

this was just a mini-intervention maybe couple hundred million.....wait till they do a big one, this could move 2-3 hundred pips in a matter of minutes

I even unsubscribed from this currency on my platform!
  • #18,636
  • Sep 14, 2010 9:36pm Sep 14, 2010 9:36pm
Still heading up...I believe 84.70 at least
  • #18,637
  • Sep 14, 2010 9:37pm Sep 14, 2010 9:37pm
why are you guys thinking that this intervention effect only for a short time and will be back drawn to lower level again? can any one explain why? sorry for asking since i'm an engineer and can not analyze this in detail.... Many thanks before.
  • #18,638
  • Sep 14, 2010 9:38pm Sep 14, 2010 9:38pm
This is what's supposedly the purpose of the intervention:

"The Bank of Japan strongly expects that the action taken by
the Ministry of Finance in the foreign exchange market will
contribute to a stable foreign exchange rate formation.

The Bank will, while pursuing strong monetary easing, continue
to provide ample liquidity to the financial markets."

The link: http://www.boj.or.jp/en/type/press/danwa/dan1009b.htm
Make your losses in demo. Earn your profits live.
  • #18,639
  • Sep 14, 2010 9:38pm Sep 14, 2010 9:38pm
Quoting mfoste1
you guys shouldnt even be playing this pair atm......anything goes w intervention, itll wipe out your entire acct.....

this was just a mini-intervention maybe couple hundred million.....wait till they do a big one, this could move 2-3 hundred pips in a matter of minutes

I even unsubscribed from this currency on my platform!
If you use a tight stop you'll be OK. The challenge is to time the up and downs.
  • #18,640
  • Sep 14, 2010 9:40pm Sep 14, 2010 9:40pm
Quoting PipVip
If you use a tight stop you'll be OK. The challenge is to time the up and downs.
EXACTLY !!!
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