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USD/JPY Discussion

  • #20,441
  • Oct 20, 2010 9:09am Oct 20, 2010 9:09am
Quoting Forexgogo
UJ price action is very interesting, but seems to be unexplainable. I'll just stay away until 11/3 QE comes out. I just don't think UJ starts going up from now on -- it's not hit the bottom yet, I believe.

Just my two cent
imo every level below 80.85 could be THE bottom we simply do not know....
Don't be a hero. Don't have an ego. Always question yourself
  • #20,442
  • Oct 20, 2010 9:12am Oct 20, 2010 9:12am
Let's blast off baby!
  • #20,443
  • Oct 20, 2010 9:19am Oct 20, 2010 9:19am
Quoting ultra_knight
Good..

Reversal candle on one min...
  • #20,444
  • Oct 20, 2010 9:20am Oct 20, 2010 9:20am
Quoting ultra_knight
Good..

Reversal candle on one min...
yap, I would hate to be in such a short timeframe mode...

Better continue my hedging... YEN is wicked...
this pig cannot be slaughtered for ever... or can it?
  • #20,445
  • Oct 20, 2010 9:23am Oct 20, 2010 9:23am
This fight at 81.13 is critical! Just like...
Attached Image
  • #20,446
  • Oct 20, 2010 9:53am Oct 20, 2010 9:53am
Still holding short on UJ, I'm look to close at 80.5 but as USD-bear says, any bottom could be THE bottom.
  • #20,447
  • Oct 20, 2010 10:43am Oct 20, 2010 10:43am
FYI

I just read JP business newspaper that predicts UJ going down next week. It is because JP exporters are going to need Yen at the end of month in order to make domestic payments. Those exporters have been holding their USD, expecting somehow UJ going up (interventions??), but time is almost up.

I think this story makes sense good.

Your thoughts??
  • #20,448
  • Oct 20, 2010 10:44am Oct 20, 2010 10:44am
Quoting georgem
yap, I would hate to be in such a short timeframe mode...

Better continue my hedging... YEN is wicked...
I am also long term player...

But lot of folks entered for quick trade once it broke the earlier so called 15 year low... so it was advice for them...

See yen below 79
  • #20,449
  • Oct 20, 2010 10:47am Oct 20, 2010 10:47am
Quoting ultra_knight
See yen below 79
Weak dollar, strong yen... yes... most assured yes...
this pig cannot be slaughtered for ever... or can it?
  • #20,450
  • Oct 20, 2010 11:43am Oct 20, 2010 11:43am
Quoting georgem
Weak dollar, strong yen... yes... most assured yes...
Jim Rogers in an interview with CNBC when asked which currencies he is holding long did not mention Yen this time. Even gold took 3-4 attempts to break $1,000, why would Yen break the all time high without a reaction? A quick flush & proper bounce is more likely than a breakdown (ninja).
Prices oscillate, trends persist. Trend is your friend.
  • #20,451
  • Oct 20, 2010 11:50am Oct 20, 2010 11:50am
Just continuing from my earlier post... about dollar yen not having a single 3-hour candle closing below 81.13 for the past 1 week... which means for a bullish scenario to play out, it has exactly 10 minutes to get its ass up above the support line.

Or else who knows.
  • #20,452
  • Oct 20, 2010 11:52am Oct 20, 2010 11:52am
Quoting jsspmk
Jim Rogers in an interview with CNBC when asked which currencies he is holding long did not mention Yen this time. Even gold took 3-4 attempts to break $1,000, why would Yen break the all time high without a reaction? A quick flush & proper bounce is more likely than a breakdown (ninja).
I would go back to this idea:

YEN is in a quagmire and needs some fresh air, fresh condition.

A fresh condition would certainly be a ALL TIME HIGH.
this pig cannot be slaughtered for ever... or can it?
  • #20,453
  • Oct 20, 2010 11:52am Oct 20, 2010 11:52am
Quoting jsspmk
Jim Rogers in an interview with CNBC when asked which currencies he is holding long did not mention Yen this time. Even gold took 3-4 attempts to break $1,000, why would Yen break the all time high without a reaction? A quick flush & proper bounce is more likely than a breakdown (ninja).
What currencies did he mentioned?
Don't be a hero. Don't have an ego. Always question yourself
  • #20,454
  • Oct 20, 2010 11:54am Oct 20, 2010 11:54am
Quoting USD-Bear
What currencies did he mentioned?
Aussie, Canadian & Swissie
Prices oscillate, trends persist. Trend is your friend.
  • #20,455
  • Oct 20, 2010 11:58am Oct 20, 2010 11:58am
Quoting jsspmk
Aussie, Canadian & Swissie
Could have guessed the first 2
Don't be a hero. Don't have an ego. Always question yourself
  • #20,456
  • Oct 20, 2010 12:00pm Oct 20, 2010 12:00pm
Quoting georgem
I would go back to this idea:

YEN is in a quagmire and needs some fresh air, fresh condition.

A fresh condition would certainly be a ALL TIME HIGH.
All time high by few pips or few hundred pips? That is the main issue, how likely for Yen to sustain a run beyond the current all time high?
Prices oscillate, trends persist. Trend is your friend.
  • #20,457
  • Oct 20, 2010 3:39pm Oct 20, 2010 3:39pm
Quoting realjumper
Yeah I would have thought so too......just goes to show what we know!!!

Do you have any thoughts on G20 RJ?

I am probably going to stay away during that time in November... Meeting was in seoul right?

Would be interesting to listen/watch it ForexWar
  • #20,458
  • Oct 20, 2010 6:09pm Oct 20, 2010 6:09pm
Quoting Larseg
Do you have any thoughts on G20 RJ?

I am probably going to stay away during that time in November... Meeting was in seoul right?

Would be interesting to listen/watch it ForexWar
I think it's going to be a real shit fest complete with chest puffing, posturing, threatening and very little actually being achieved. That's what my cynical side believes anyway. I hope I'm wrong and that they can all work together.

Yep, the meeting is in Seoul http://g20.korea.net/html/seoul_summit/schedule.asp

I'm be staying out of the market then too.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #20,459
  • Oct 20, 2010 6:22pm Oct 20, 2010 6:22pm
Wow, looks like Noda just stop staring at the markets.
  • #20,460
  • Oct 20, 2010 6:24pm Oct 20, 2010 6:24pm
Quoting kandarv
Wow, looks like Noda just stop staring at the markets.
Could be the China GDP leaked.
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