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USD/JPY Discussion

  • #19,781
  • Oct 7, 2010 8:37pm Oct 7, 2010 8:37pm
Thanks for the links guys...

http://www.forex.in.rs/alerts/2010/1...-intervention/

Agree, cultural aspect has some bearing...

Incidentally, he's repeating the same statement he made just after the Sept 15th event, so reading between the lines, they were quite aware from the outset that the initial intervention was unlikely to have a lasting impact...
  • #19,782
  • Oct 7, 2010 8:45pm Oct 7, 2010 8:45pm
Quoting Catch-22
Well, that would be great but I think as traders we should be looking which way the movement is going with tight stop losses incase that happens ...even buy above 83 or something set up prior if u're that sure.

I think they've lost face. So yea they better act soon if they don't want to be seen as impotent.
If and when they do go in, slippage is likely to be extreme...
  • #19,783
  • Oct 7, 2010 8:46pm Oct 7, 2010 8:46pm
Quoting FibbinArchie
Thanks for the links guys...

http://www.forex.in.rs/alerts/2010/1...-intervention/

Agree, cultural aspect has some bearing...

Incidentally, he's repeating the same statement he made just after the Sept 15th event, so reading between the lines, they were quite aware from the outset that the initial intervention was unlikely to have a lasting impact...

Maybe, still. Unless it's on your charts I'd be careful about trading it. Maybe a SL below 82 on a buy.
  • #19,784
  • Oct 7, 2010 8:52pm Oct 7, 2010 8:52pm
Quoting Catch-22
Maybe, still. Unless it's on your charts I'd be careful about trading it. Maybe a SL below 82 on a buy.
I think 81.80 seems a reasonable level, anyone?
  • #19,785
  • Oct 7, 2010 8:58pm Oct 7, 2010 8:58pm
UJ strange...

LOOK...before the intervention....UJ in channel of 10 pips 20 hours...
the same is now.. 82.30 / 82.40...

intervention is coming ?
  • #19,786
  • Oct 7, 2010 9:06pm Oct 7, 2010 9:06pm
Quoting takeshi
UJ strange...

LOOK...before the intervention....UJ in channel of 10 pips 20 hours...
the same is now.. 82.30 / 82.40...

intervention is coming ?
Agree, what I thought particularly strange was that after the US Employment figures came out yesterday, every major cross against the dollar sold off fairly hard except usdjpy, which didn't move..
  • #19,787
  • Oct 7, 2010 9:08pm Oct 7, 2010 9:08pm
Quoting FibbinArchie
I think 81.80 seems a reasonable level, anyone?
79
  • #19,788
  • Oct 7, 2010 9:10pm Oct 7, 2010 9:10pm
Quoting pqt
79
I think they'll step in, long before it goes a further 300 pips...
  • #19,789
  • Oct 7, 2010 9:16pm Oct 7, 2010 9:16pm
Quoting FibbinArchie
Agree, what I thought particularly strange was that after the US Employment figures came out yesterday, every major cross against the dollar sold off fairly hard except usdjpy, which didn't move..
yes.. look M5 M15 and M30 the 10 pips channel...before the last intervention in day15...and now....its the same 10 pips channel and not big moves....i think LOAD A BIG BAZOOKA POWER GUN to 86.00
  • #19,790
  • Oct 7, 2010 9:21pm Oct 7, 2010 9:21pm
Just broken lower TL on the H1 TF.
  • #19,791
  • Oct 7, 2010 9:32pm Oct 7, 2010 9:32pm
Wonder if it will take another dive down and test the 82 mark.

BOJ showing restraint but for how long?
  • #19,792
  • Oct 7, 2010 9:33pm Oct 7, 2010 9:33pm
Quoting FibbinArchie
Just broken lower TL on the H1 TF.
whata fuck...is down now ?
  • #19,793
  • Oct 7, 2010 9:36pm Oct 7, 2010 9:36pm
Quoting takeshi
whata fuck...is down now ?
Doesn't mean anything, it's a bit like a tidal wave. The water goes out first then comes in.
  • #19,794
  • Oct 7, 2010 9:38pm Oct 7, 2010 9:38pm
Quoting Catch-22
Doesn't mean anything, it's a bit like a tidal wave. The water goes out first then comes in.
hehehehehe nice!!!
  • #19,795
  • Oct 7, 2010 9:38pm Oct 7, 2010 9:38pm
Not saying its gonna happen, just I wouldnt count it out.
  • #19,796
  • Oct 7, 2010 9:40pm Oct 7, 2010 9:40pm
Quoting FX-Petra
No one knows when or if a "serious" intervention will take place. I just hope everyone is careful. What if U/J moved 800 pips against you in an hour, and your broker did not honor your stop-loss? It has happened before. I have no intrest in playing chicken with the BOJ. It is not a good place for a small retail trader to be. Fighting Central Banks is best left to big banks and hedge funds.

Regards,
George Soros, BoE & Quantum Fund springs to mind...

UJ has broken channel to the downside...
  • #19,797
  • Oct 7, 2010 9:40pm Oct 7, 2010 9:40pm
food for thought...
no longs til 80 support area tested, just a thought.
Attached Image (click to enlarge)
Click to Enlarge Name: uj_month.jpg Size: 88 KB
  • #19,798
  • Oct 7, 2010 9:44pm Oct 7, 2010 9:44pm
Quoting FibbinArchie
George Soros, BoE & Quantum Fund springs to mind...

UJ has broken channel to the downside...
82.13 and fast come back to 82.27...
i think do not broken 82.10 anymore...and you ?
  • #19,799
  • Oct 7, 2010 9:44pm Oct 7, 2010 9:44pm
anyone know the practical aspects of the interventions is it done from Tokyo or can it be done from other exchange via there agents in london , new york etc?
  • #19,800
  • Oct 7, 2010 9:46pm Oct 7, 2010 9:46pm
Could be testing for supply.. take out some stops, lock in a few breakout shorts to fuel an up move?

Nothing is certain, any major player with the resources to move a market can come in at any time and do anything, case in point, George Soros & the Bank of England...
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