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USD/JPY Discussion

  • #19,001
  • Sep 24, 2010 12:33am Sep 24, 2010 12:33am
If anybody made anything off that I wouldn't wait to cash in, looks like it is going to fall.
  • #19,002
  • Sep 24, 2010 12:36am Sep 24, 2010 12:36am
Quoting Astroman
If anybody made anything off that I wouldn't wait to cash in, looks like it is going to fall.
yup it really drop.
  • #19,003
  • Sep 24, 2010 12:36am Sep 24, 2010 12:36am
Quoting Warwick
The MOF has not confirmed that an intervention has occurred.

First they dabble with the markets and now insult them.
BOJ did buy earlier, but this move may, or may not be due to the resignation rumour......dunno really

http://www.forexlive.com/134534/all/...ing-back-again
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,004
  • Sep 24, 2010 12:36am Sep 24, 2010 12:36am
The spike came through more than one Japanese bank. I don't see how it could have spiked that much in 1 minute from more than one source on a rumor but I suppose anything is possible.

Traders that work for other banks still think it was BOJ but no confirmation and BOJ is saying they will not confirm either way so who knows.

At least it adds a bit of excitement to an otherwise flat trading day.
  • #19,005
  • Sep 24, 2010 1:00am Sep 24, 2010 1:00am
Quoting thx1139
The spike came through more than one Japanese bank. I don't see how it could have spiked that much in 1 minute from more than one source on a rumor but I suppose anything is possible.

Traders that work for other banks still think it was BOJ but no confirmation and BOJ is saying they will not confirm either way so who knows.

At least it adds a bit of excitement to an otherwise flat trading day.
I think this time the govt will not directly intervene like the last week's. This is because Jap PM is meeting Obama today and he doesnt want to complicate things which will give an upper hand for China in talks with US on Yuan appreciation.
The spike could be due to other local banks working for BOJ or there is some fresh news coming about China/Jap spate.
  • #19,006
  • Sep 24, 2010 1:07am Sep 24, 2010 1:07am
Quoting PipMaxzz
I think this time the govt will not directly intervene like the last week's. This is because Jap PM is meeting Obama today and he doesnt want to complicate things which will give an upper hand for China in talks with US on Yuan appreciation.
The spike could be due to other local banks working for BOJ or there is some fresh news coming about China/Jap spate.
I don't think that Japan or China has too much to worry about with Obama.....China is keeping it's currency low, Japan is selling the Yen and Obama likes to print dollars. They are all forms of intervention and Obama is no better that those he like to accuse. I doubt that China and Japan will give Obama anything other than a smile and a bit of lip service.....then go about their own business concerning their own countries welfare.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,007
  • Sep 24, 2010 1:15am Sep 24, 2010 1:15am
This intervention by the BOJ to artificially prop up the US Dollar shows the weakness of the USD. Sounds like a big drop could come sooner than later
US Dollar is trash... Get out of that Ponzi scheme !!!
  • #19,008
  • Sep 24, 2010 1:15am Sep 24, 2010 1:15am
Quoting yeri
yup it really drop.

Hi TL, now back...
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  • #19,009
  • Sep 24, 2010 1:40am Sep 24, 2010 1:40am
I'm looking for opportunities to long. Seems the BOJ intervention may be producing the desired sentiment in the markets at least for a bit...

If the US has its plunge protection team the BOJ is entitled to a plunge creation team.
  • #19,010
  • Sep 24, 2010 1:49am Sep 24, 2010 1:49am
Quoting kreetcha
I'm looking for opportunities to long. Seems the BOJ intervention may be producing the desired sentiment in the markets at least for a bit...

If the US has its plunge protection team the BOJ is entitled to a plunge creation team.
Where do you see that change in sentiment?
Intervening for 5 minutes and then letting it ride down again doesn't improve my sentiment.

ps I'm long as from 84.38
Don't be a hero. Don't have an ego. Always question yourself
  • #19,011
  • Sep 24, 2010 1:55am Sep 24, 2010 1:55am
Quoting Warwick
What idiots.

What are they trying to prove? Let the markets run their course. Do they not realize the bulk of their intervention funds are going to the hedge funds and large equity houses.

Why not establish a TARP fund similar to what the FED did two years ago instead of wasting billions into the shark pit?

Instead they insist on bullying markets with their push and pull power. I mean at least if your gonna embark on your intervention sprees then do so in a tactful fashion. I.e. news releases, major world/economic...
ease, I think it wasn't intervention (low volume and back move)
it's rumors move because all expecting intervention, but it's not meaning it's can't go up more
  • #19,012
  • Sep 24, 2010 2:08am Sep 24, 2010 2:08am
Well i just came from the theather and saw Money never sleeps so i lost the BOJ intervention, till got my positions long since 84.00, but i could sold some of the lots for a nice swing there...... im still long on Usd/jpy.... for how long... dont know, it looks like the Japanese and Chieneses will realize sooner than later taht they can make better profit investing in their countries than intervienning the market when the market will correct back again by it self.... dollar will sink very soon
  • #19,013
  • Sep 24, 2010 2:32am Sep 24, 2010 2:32am
Quoting USD-Bear
Where do you see that change in sentiment?
Intervening for 5 minutes and then letting it ride down again doesn't improve my sentiment.

ps I'm long as from 84.38
Are you confident there was intervention? The weekly chart shows the pair bouncing on the bottom of the downward channel and we're at least due for a retracement to 88-90. That coupled with BOJ intervention hysteria the forex gods may just let it rise a enough to reinforce my technical perceptions of reality.
  • #19,014
  • Sep 24, 2010 2:37am Sep 24, 2010 2:37am
Quoting kreetcha
Are you confident there was intervention? The weekly chart shows the pair bouncing on the bottom of the downward channel and we're at least due for a retracement to 88-90. That coupled with BOJ intervention hysteria the forex gods may just let it rise a enough to reinforce my technical perceptions of reality.
No it prob wasn't, no sense in wasting money this way.
Don't be a hero. Don't have an ego. Always question yourself
  • #19,015
  • Sep 24, 2010 2:44am Sep 24, 2010 2:44am
Quoting USD-Bear
No it prob wasn't, no sense in wasting money this way.
boj is in the 'neither confirm nor deny' frame of mind, so other than their earlier buying the usd/jpy, I wonder if this spike is just a result of the rumour that the BOJ governer is about to quit?

We'll find out in due course. In the meantime I'm content to sit on my long and add more if this thing shows some willingness to etch it's way back up!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,016
  • Sep 24, 2010 2:53am Sep 24, 2010 2:53am
nice jump aniway and only a person with so much of fortune can catch that movement.........., geeezz so many rumour in japan today...
  • #19,017
  • Sep 24, 2010 2:57am Sep 24, 2010 2:57am
Quoting yeri
nice jump aniway and only a person with so much of fortune can catch that movement.........., geeezz so many rumour in japan today...
When they intervened last time I was lucky enough to be at the right place at the right time.....this spike I also caught because I bought off the pivot!! I cashed in this move, but the original intervention long is still running
Doing what you like is Freedom. Liking what you do is Happiness.
  • #19,018
  • Sep 24, 2010 3:11am Sep 24, 2010 3:11am
Quoting realjumper
boj is in the 'neither confirm nor deny' frame of mind, so other than their earlier buying the usd/jpy, I wonder if this spike is just a result of the rumour that the BOJ governer is about to quit?

We'll find out in due course. In the meantime I'm content to sit on my long and add more if this thing shows some willingness to etch it's way back up!
Well, if I would like to build a large UJ long I wouldn't wait for thin market time to execute. So I think someone (the buyer) must have picked up some very protected bullish rumours.
Just hope my entry=BE=84.38 will hold....
Don't be a hero. Don't have an ego. Always question yourself
  • #19,019
  • Sep 24, 2010 3:20am Sep 24, 2010 3:20am
Hello Everyone,

I am new to this forum as well as trading the USD/JPY.

I have been trading mainly e minis. ( ES, YM, TF & NQ )

I have studied the Euro & GBP a bit but new to USD/JPY.

My question is : if USD/JPY dropped from 85.92 to 85.12.

Is that a drop of 80 Pips ?

I see some charts with 3 digits & some 2 digits. So which one is correct ?

Thank you guys.

George
  • #19,020
  • Sep 24, 2010 3:20am Sep 24, 2010 3:20am
Quoting USD-Bear
Well, if I would like to build a large UJ long I wouldn't wait for thin market time to execute. So I think someone (the buyer) must have picked up some very protected bullish rumours.
Just hope my entry=BE=84.38 will hold....
Your entry is under the pivot so it should hold....unless the durable goods spoils it!
Doing what you like is Freedom. Liking what you do is Happiness.
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