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USD/JPY Discussion

  • #20,461
  • Oct 20, 2010 8:25pm Oct 20, 2010 8:25pm
55 pips in a couple of seconds----BOJ again?
We are all One. Be present. Be the Observer
  • #20,462
  • Oct 20, 2010 8:29pm Oct 20, 2010 8:29pm
Moves are based on some comments that were just released from an interview with US Treasury secretary Geithner: U.S TREASURY SECRETARY SAYS WANTS G20 TO MOVE TOWARD 'NORMS' ON EXCHANGE RATES, WSJ INTERVIEW

Adding article link here.
  • #20,463
  • Oct 20, 2010 8:29pm Oct 20, 2010 8:29pm
Quoting wontfindanam
Could be the China GDP leaked.
Looks more like a sell the rumor thing with Geithner declarations.
  • #20,464
  • Oct 20, 2010 8:32pm Oct 20, 2010 8:32pm
Quoting Beljevina
Moves are based on some comments that were just released from an interview with US Treasury secretary Geithner: U.S TREASURY SECRETARY SAYS WANTS G20 TO MOVE TOWARD 'NORMS' ON EXCHANGE RATES, WSJ INTERVIEW
That Geithner clown is a real piece of work isn't he?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #20,465
  • Oct 20, 2010 8:39pm Oct 20, 2010 8:39pm
If Noda has some under his pants, should take advantage right now and buy a huge amount of USD.
  • #20,466
  • Oct 20, 2010 8:41pm Oct 20, 2010 8:41pm
Quoting Beljevina
Just defending his turf. I kinda wish others would do the same ... we could have post May 6 type volatility!

Not to be confused with this real piece of work ...
LOL.....there's pieces of work everywhere we look!!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #20,467
  • Oct 20, 2010 8:43pm Oct 20, 2010 8:43pm
Quoting kandarv
If Noda has some under his pants, should take advantage right now and buy a huge amount of USD.
That thought crossed my mind too, but I think G20 is too close...or else there's not much under his pants!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #20,468
  • Oct 20, 2010 8:44pm Oct 20, 2010 8:44pm
Quoting Beljevina
Moves are based on some comments that were just released from an interview with US Treasury secretary Geithner: U.S TREASURY SECRETARY SAYS WANTS G20 TO MOVE TOWARD 'NORMS' ON EXCHANGE RATES, WSJ INTERVIEW

Adding article link here.
Check this quote; this could be pivotal for where USDJPY is currently at. And if this isn't an indirect approval for BoJ intervention, I don't know what is. Now, the market just needs to believe it. I would love to see a fake bull rally of a few hundred pips - it would be very fitting of Smart Money to give us one!!!

Quote
...he [Geithner] put "the major currencies, which are roughly in alignment now," a suggestion that he sees no need for the dollar to sink more than it already has against the euro and yen.

Me gonna watch for a bounce at 81.16/81.32 ... kind of late PA for the Asia session, but I wonder what Frankfurt/London will bring us?
  • #20,469
  • Oct 20, 2010 8:50pm Oct 20, 2010 8:50pm
Quoting Beljevina
Check this quote; this could be pivotal for where USDJPY is currently at. And if this isn't an indirect approval for BoJ intervention, I don't know what is. Now, the market just needs to believe it. I would love to see a fake bull rally of a few hundred pips - it would be very fitting of Smart Money to give us one!!!
I think that BOJ has had the green light for intervention for a little while now....well....maybe not a green light, but certainly an 'nod and a wink' from USA. The only thing I can put the lack of action down to is the the up coming G20 meeting.....but I really don't know....
Doing what you like is Freedom. Liking what you do is Happiness.
  • #20,470
  • Oct 20, 2010 8:50pm Oct 20, 2010 8:50pm
Quoting Beljevina
Check this quote; this could be pivotal for where USDJPY is currently at. And if this isn't an indirect approval for BoJ intervention, I don't know what is. Now, the market just needs to believe it. I would love to see a fake bull rally of a few hundred pips - it would be very fitting of Smart Money to give us one!!!



Me gonna watch for a bounce at 81.16/81.32 ... kind of late PA for the Asia session, but I wonder what Frankfurt/London will bring us?
Japan Noda: To Firmly Discuss Policy Cooperation At G-20 - Nikkei
Japan Noda: Currency Issue Biggest Concern For All Nations - Nikkei
Japan Noda: See Negative Impact From Yen Rises Vs Asian Currencies On Trade - Nikkei
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #20,471
  • Oct 20, 2010 8:55pm Oct 20, 2010 8:55pm
Quoting realjumper
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.
You're absolutely right. I only expect veiled declarations of cooperation, an "agreement to do something", with nothing of substance. That will be the case because they won't be able to agree on almost anything.

Problem is, in addition to there being different interpretations of how we got here, there is even greater disagreement on how to fix things. And, a fix for one country is often a problem or roadblock to implementation of another's desires.

All I really am hoping for is increased volatility. Not too extreme though - I don't want everything to go to hell in a handbasket just yet.
  • #20,472
  • Oct 20, 2010 9:12pm Oct 20, 2010 9:12pm
what a fight.... whats going to happen now the rest of the day?
this pig cannot be slaughtered for ever... or can it?
  • #20,473
  • Oct 20, 2010 9:22pm Oct 20, 2010 9:22pm
Quoting realjumper
I think that BOJ has had the green light for intervention for a little while now....well....maybe not a green light, but certainly an 'nod and a wink' from USA. The only thing I can put the lack of action down to is the the up coming G20 meeting.....but I really don't know....
Although you may be right, I think that the Jap Fin Min is a noob in the Forex market and is still holding his last longs and staring at the screen hoping that the market will soon stop and turn in his favor.

Basically just like every noob trader does a few time before learning a lesson.

Hence his statement that he’s “watching the market very closely”
  • #20,474
  • Oct 20, 2010 9:55pm Oct 20, 2010 9:55pm
Quoting bablo
Although you may be right, I think that the Jap Fin Min is a noob in the Forex market and is still holding his last longs and staring at the screen hoping that the market will soon stop and turn in his favor.

Basically just like every noob trader does a few time before learning a lesson.

Hence his statement that he’s “watching the market very closely”
Not sure if you're kidding or not ... while Noda might well be a noob and fx neophite, that shouldn't matter because in any big machine that operates a sovereign state, there's a consultative approach to figuring out what to do, and the Japanese would especially be like that.

It is absolutely proper to expect that as far as working in and with the currency rate and fx market in Japan, that there is no shortage of technical skill. Problem is the international political one, and the strategy to get the rate range to where not only Japan but other G7s agree; recalling the $4.2+ trillion of daily fx transactions, the powers & interests that lie behind them, and the current WW economic facts & sentiment, are just some of the things that Japan can't control.

While I'd love to see intervention, you can't force a free floating currency to remain somewhere forever, and if you spend hundreds of billions or more getting it there - regardless if it stays there or not - you still have to do an opportunity & scenario cost exercise.

So we come back to international cooperation and getting everyone on the same page; the Geithner comments are a purposeful & interesting step in that direction.
  • #20,475
  • Oct 20, 2010 9:59pm Oct 20, 2010 9:59pm
.....tip of the iceberg perhaps....

The decline in Japanese corporate demand for financing via bank loans decelerated in July-September from the previous quarter as firms suffered from the impact of the strong yen amid increased uncertainty over the global economy,

http://imarketnews.com/?q=node/21126
Doing what you like is Freedom. Liking what you do is Happiness.
  • #20,476
  • Oct 20, 2010 10:09pm Oct 20, 2010 10:09pm
US finally allow the yen to weaken ... after begging for so long..?
  • #20,477
  • Oct 20, 2010 10:14pm Oct 20, 2010 10:14pm
Quoting Hugo Boss
US finally allow the yen to weaken ... after begging for so long..?
Makes you wonder what exactly was said in Washington about 3 weeks ago when Kan was there......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #20,478
  • Oct 20, 2010 10:22pm Oct 20, 2010 10:22pm
US needs to keep Asia sweet, after all they do play a major role in financing US debt. So USA can't really make a stand regarding USD devaluation, it needs to be at a level where Asia is 'happy'. I do sense that there is going to be a joint intervention of some sort to keep everybody more or less happy. That's why I don't expect Yen to go right through current all time high.

A possible HL?

http://www.dormantrading.com/TraderT...&cancelstudy=0
Prices oscillate, trends persist. Trend is your friend.
  • #20,479
  • Oct 20, 2010 10:53pm Oct 20, 2010 10:53pm
Quoting Beljevina
Not sure if you're kidding or not ... while Noda might well be a noob and fx neophite, that shouldn't matter because in any big machine that operates a sovereign state, there's a consultative approach to figuring out what to do, and the Japanese would especially be like that.

It is absolutely proper to expect that as far as working in and with the currency rate and fx market in Japan, that there is no shortage of technical skill. Problem is the international political one, and the strategy to get the rate range to where not only Japan but other...
Actually I was being a little sarcastic, hence the sarcasm emoticon.

On a more serious note however, the only was intervention can work is with the support of other countries. Anything less can only deliver short term results.

That being said, I can’t (for the life of me) understand why anyone would think of the Yen as a safe currency. I understand commodity backed currencies but Japan is an electronic backed currency with a low interest rate. I just don’t get it
  • #20,480
  • Oct 20, 2010 10:56pm Oct 20, 2010 10:56pm
Someone had a crack at it for a short burst is this the sign of things to come ?
who raped silver !
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