USD/JPY Discussion

i agree game plan is set for JPY, but Obama did have the forex intervention issue formally put on the agenda for thur meeting, which means he wants to make a point of it, at least a symbolic point. SO it would be seen as an insult to USA/Obama if BOJ has a major intervention on Thur or friday. Thats why I think if they are going to do anything this week, it happens before thur ...

I agree and let's all request BOJ to do it tomorrow Jap morning same as the previous one. I am free at that time to sit in front the PC :-).

<<<<< Larseg Wrote

Here I am again, looking over my position which was placed last night backed up with an extremely well developed & backtested system, fully manually, well thought through, perfectly executed, perfectly position sized. I am even on the side BOJ wanted me to be on, assuming I am not alone, should I just leave this in break even and short the crap out of it or should I wait. It looks extremely short, but whoever is guessing are wrong most of the times. If I only had 20 billion to short with now I reckon I would be sweet as. Did I hear 77 again?...

BOJ I am waiting for you, if nothing happens soon your word means nothing for me anymore and I know you are reading this so don’t try to hide. We all want money but we need an direction as this can go both ways. If your keen on a bullrun you need to buy with more than 20 billion in the 4 trillion FX market, so are you guys serious or not… Peace..

Sell more yen please… >>>>>>




Dear Trader,

While we appreciate your heartfelt concerns and your noting of what we should do, it brings me grave dismay to inform you that there is nothing else we can do for the lemmings. We have erred on the side of socialism once, maybe a few times by selling the yen when 75+% retail traders were short. I assure you that wont happen again. We are not a charity, and we are certainly not pro hedge-fund; apparently thats where 19 Billion of the "save the lemmings funds" went, go figure. In fact, given recent criticism we've looked at the possibility of inverse-intervention, this involves more trickery but will be more-so effective than otherwise by stinging both parties in an equal fashion.

Good luck and may another central bank make your wildest wishes come true.


Sincerely yours,
Human Resources Department (BOJ)

<<<<< Larseg Wrote

Here I am again, looking over my position which was placed last night backed up with an extremely well developed & backtested system, fully manually, well thought through, perfectly executed, perfectly position sized. I am even on the side BOJ wanted me to be on, assuming I am not alone, should I just leave this in break even and short the crap out of it or should I wait. It looks extremely short, but whoever is guessing are wrong most of the times. If I only had 20 billion to short with now I reckon I would be sweet as. Did I hear 77 again?...

BOJ I am waiting for you, if nothing happens soon your word means nothing for me anymore and I know you are reading this so don’t try to hide. We all want money but we need an direction as this can go both ways. If your keen on a bullrun you need to buy with more than 20 billion in the 4 trillion FX market, so are you guys serious or not… Peace..

Sell more yen please… >>>>>>



<<<<<<<<<<<< Warwick wrote
Dear Trader,

While we appreciate your heartfelt concerns and your noting of what we should do, it brings me grave dismay to inform you that there is nothing else we can do for the lemmings. We have erred on the side of socialism once, maybe a few times by selling the yen when 75+% retail traders were short. I assure you that wont happen again. We are not a charity, and we are certainly not pro hedge-fund; apparently thats where 19 Billion of the "save the lemmings funds" went, go figure. In fact, given recent criticism we've looked at the possibility of inverse-intervention, this involves more trickery but will be more-so effective than otherwise by stinging both parties in an equal fashion.

Good luck and may another central bank make your wildest wishes come true.


Sincerely yours,
Human Resources Department (BOJ)>>>>>>>>>>


Dear BOJ,

We have now grouped up and closed all of our trades (simultaneously so not noticable) and have kidnapped your entire family, collegees, friends and materialistic assetts we came across. I really like the pink cadillac by the way.

However, our next step depends solely on me and my crew's emotions, If you like we can call this FOREX REAL LIFE. But this time the small traders can manipulate the world as much as we want because we are the biggest and have the most power.

I wish you all the best in this game which you have to attend and don't forget to put chop legs, I mean stop loss.

Post Scriptum: You might want to cover yourself when leaving the office.


hehe

lol....

not getting much of a bounce off of 85.50.... boj where are you ...

Exactly, that was my SL...
I am really glad I didn't take break even from last night...

180 bucks down the drain, I love forex...

At last....the Yen is on the move.....not the way BOJ wants though!

i know. its sort of surprising, i thought they would defend 85.5 ... i wonder how far they will let it come down ..

demo sell


shot from 85.39

protection 85.60

target 85.19


(ignore EU ... took a gamble due to boredom ... )

As far as I know, 85.50 was what BOJ was defending.....I wonder who is behind this move?....China? And I wonder how far it will be allowed to go?

There has been a never ending list of traders relying on a Central bank for a profit..
Rule 69 of the traders handbook.
Central banks:
They are never there when you need them and always there when you dont.

prob china, japan and china were on the news wires talking trash about each other ...

LOL good rule ..

I think in times like these, as a trader, your better off trading your system and not expectations from the BOJ....
So that's going to be my gaming plan...

Can't see how I can get a bull setup before a couple of hours, really annoying... but my short setup looked pretty good with the slow solid downward movt... too bad i didn't closed and reversed...

I would point the finger at them too....China and Japan are having a spat about the detained ship captain dispute, apparently.....

Absolutely.....my system tells me to stand aside right now.

Me too and I am really struggling...
http://www.ehow.com/how_2216453_be-mentally-strong.html

Dollar To Ascend As QEII Doesn't
By NICHOLAS HASTINGS
A DOW JONES NEWSWIRES COLUMN


LONDON -- Just as rising speculation over more quantitative easing drove the dollar down, so falling speculation should drive the dollar higher.
Yes, risk sentiment, the performance of equity markets, the ups and downs of the euro-zone sovereign debt crisis have all played their part in the U.S. currency's recent slide againt the euro.
But, it has been the fear that the U.S. economy is going to need another dose of unconventional monetary easing--the so-called QEII-- that has been doing most of the work, helping the single currency to establish itself back over $1.30.
However, this week should spell the end of the euro's rally.
Later Tuesday, the U.S. Federal Reserve is likely to confirm what most analysts are predicting--that U.S. interest rates are still likely to stay down where they are for an "extended period."
What will be key, however, is whether the Fed gives any hint that it is still entertaining the idea of more quantitative easing further down the road.
The argument in recent weeks has run that the Fed is keeping its powder dry and could wait until November before deciding if the economic slowdown warrants additional easing.
However, the growing impression is that rather than seeing the recovery actually stalling and the economy heading back into recession, the Fed will suggest that the recovery is merely taking place at slower pace than originally thought.
This means that speculation over QE should start to fade, especially if new housing data in the U.S. continue to show evidence of improvement, no matter how gradual.
This should coincide with renewed fears about the ability of the euro zone to avoid a sovereign debt default and the ability of euro-zone banks to restore their financial stability in the near term.
Last Friday, the Irish Finance Ministry may have dismissed a report about Ireland's ability to resolve its financial problems on its own. However, the episode once again brought home the risks associated with other peripheral debtors that are in a much worse financial state than Ireland.
At the same time, the European Central Bank has continued to issue warnings about European banks. The latest came over last weekend from the Austrian central bank Governor Ewald Nowotony, who pointed out that some parts of the euro-zone banking system are "addicted to" ECB liquidity.
These conditions not only suggest that any chances of the ECB raising rates in the near term are as remote as ever, but it also suggests that euro-zone economies will remain even more sensitive to the strength of the euro.
Simon Derrick, a senior currency strategist at Bank of New York Mellon in London, put it this way: "The European authorities are clearly worried that they will (once again) find themselves the victims of "beggar thy neighbor" currency policies. Unfortunately, history suggests that the European authorities rarely have any great success in opposing the polices of others when it comes to currency matters."
So, the euro's ability to extend its recent gains against the dollar is looking under strain and the single currency looks much more likely to start falling back against its U.S. counterpart now.
See how the euro has been climbing against the dollar in recent weeks:
http://www.dowjoneswebservices.com/chart/view/4611
Early Tuesday, the dollar is down a little on final market positioning ahead of the FOMC. The euro, meanwhile, has been lifted after the euro-zone bailout fund, the European Financial Stability Facility, got triple-A ratings from Standard & Poors as well as Fitch.
However, gains are limited as the market now waits for the results of an Irish bond auction as well as Treasury bill auctions from Spain and Greece later in the day.
By 0645 GMT, the euro had risen to $1.3082 from $1.3061 late Monday in New York, according to EBS. The dollar fell to Y85.43 from Y85.75, while the euro fell to Y111.76 from Y110.02.
The yen appeared to be getting support from Japanese exporter buying ahead of the quarter end. Bloomberg TNI FRX POV Reuters USD/DJ Thomson P/1066 or P/1074

24 hrs free link
http://www.djnewsplus.com/ge/al?rnd=...mViRx9cA%3D%3D

No doubt this will cause the dollar to move up against euro, but will it have same effect on yen if some risk aversion comes back into play ...