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USD/JPY Discussion

  • #21,101
  • Nov 2, 2010 1:02pm Nov 2, 2010 1:02pm
Quoting 00montie
just to clarify, is the yen bank holiday tonight, which after 12 is technically wednesday, orrrr is it tomorrow night which after 12 would technically be thursday?

I know i constantly ask stupid questions but please bare with me :S
A good question, since my FF calendar seems to show the holiday for today Nov 2, yet wiki and Ashraf indicate it's Nov 3, thus Wednesday. So I presume the FF calendar (at least mine) is wrong.
  • #21,102
  • Nov 2, 2010 1:13pm Nov 2, 2010 1:13pm
Quoting Beljevina
A good question, since my FF calendar seems to show the holiday for today Nov 2, yet wiki and Ashraf indicate it's Nov 3, thus Wednesday. So I presume the FF calendar (at least mine) is wrong.

My FF calender says Wednesday 3rd, the same as Ashraf, but I assumed as Wednesday technically comes of 12 tonight that tonight's Tokyo session would be out which contradicts Ashrafs twitter update that the BOJ may intervene tonight! now im really worried lol!
  • #21,103
  • Nov 2, 2010 1:36pm Nov 2, 2010 1:36pm
Quoting 00montie
My FF calender says Wednesday 3rd, the same as Ashraf, but I assumed as Wednesday technically comes of 12 tonight that tonight's Tokyo session would be out which contradicts Ashrafs twitter update that the BOJ may intervene tonight! now im really worried lol!

FX markets on Tue Nov 2, 2010 0:35 PM
Tokyo:closed, opens on Wed Nov 3, 2010 6:00 PM MST = 8:00 PM EST
Source: Oanda
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  • #21,104
  • Nov 2, 2010 1:37pm Nov 2, 2010 1:37pm
Quoting 00montie
My FF calender says Wednesday 3rd, the same as Ashraf, but I assumed as Wednesday technically comes of 12 tonight that tonight's Tokyo session would be out which contradicts Ashrafs twitter update that the BOJ may intervene tonight! now im really worried lol!
I'm not sure where the confusion is ... the holiday is confirmed to be Nov 3, in Japan. Not sure what reason there is to worry. It just turned Nov 3 there, 3+ hours ago.
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  • #21,105
  • Nov 2, 2010 1:53pm Nov 2, 2010 1:53pm
Quoting Beljevina
I'm not sure where the confusion is ... the holiday is confirmed to be Nov 3, in Japan. Not sure what reason there is to worry.

well iv'e gotten confused because the quote you posted from Ashrafs twitter suggests that the BOJ could intervene tonight but tonight is established to be a bank holiday.
But I think iv'e got it sorted now, finally haha! Thanks for your time
  • #21,106
  • Nov 2, 2010 2:02pm Nov 2, 2010 2:02pm
quote "BoJ could well intervene tonight (Jpn out on holiday on Wed) just as ECB intervened during the Nov 2000 election recount fiasco"

BOJ can't intervene the market via JP banks tonight. Australia or NZ or Singapore could be possible, though....

It can be a big surprise if BOJ intervenes tonight anyway (which I doubt of course....
  • #21,107
  • Nov 2, 2010 2:14pm Nov 2, 2010 2:14pm
Quoting Beljevina
A good question, since my FF calendar seems to show the holiday for today Nov 2, yet wiki and Ashraf indicate it's Nov 3, thus Wednesday. So I presume the FF calendar (at least mine) is wrong.
http://www.boj.or.jp/en/type/list/holi/holi.htm
The Market pays you to be disciplined
  • #21,108
  • Nov 2, 2010 2:31pm Nov 2, 2010 2:31pm
There should be no confusion on holiday or otherwise intervention ... BoJ has intervened on holidays before and at completely unexpected times ... it's actually quite silly to think that if a crisis (read: USDJPY level is reached), that a G7 nation will let it will pass without an intended plan to be executed. The economic crisis is on par with many other disasters - any state that says it "wasn't scheduled to work" or "wasn't in the office" at that time, well, shouldn't be a sovereign state.

  • #21,109
  • Nov 2, 2010 2:42pm Nov 2, 2010 2:42pm
OK Guys, Holiday or not, BOJ can still intervene. They are believed to be intervening through other sources not directly tied to BOJ. Last whispers were that they intend things to look like a natural cycle. This means they are intervening via other facets, funds, what have you.. Why can they do this legally because they need to report to COT. COT does not give you specific data except for open interest.

They are trying to lure and have speculators jump on board. They are not trying to do any trickery, they know the decline of usd vs jpy has starting to have a hindrance on them.

The fact is something is lurking amongst usdjpy buying tendencies. ITs at a 15 major year low. Look what happened every time it hit these major lows. I am sure I don't need to pull a chart out for you to see this. BIG Money likes to buy here and someone has been buying up cautiously.
Know when to hold em, Know when to fold em!
  • #21,110
  • Nov 2, 2010 2:46pm Nov 2, 2010 2:46pm
Quoting Beljevina
FYI, a post from Ashraf Laidi's twitter:

who is ashraf laidi??
  • #21,111
  • Nov 2, 2010 3:28pm Nov 2, 2010 3:28pm
USD has been slowly strengthening against the Yen so far this week, climbing the rising trend line. Now we could see a possible break of this trend line as MACD is showing divergence and we have recently touched the weekly Pivot.

USD/JPY 5M 01/11 - 05/11
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  • #21,112
  • Nov 2, 2010 3:38pm Nov 2, 2010 3:38pm
"Maybe the proximity of the all-time USDJPY low is just too much for the pair to resist. Of note however on the daily is yesterday’s inverted hammer pattern, which is a bullish reversal pattern. Price needs to break above yesterday’s low in order to confirm."
(Taken from Yahoo finance.)

I see a possibility of a reversal pattern starting, but only a possibility, I wouldn't like to bet on it at this stage, anyone braver?
I have a small long running at a loss, that will suffice for now
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I'm watching this currency so closely I'm using windows magnifier
  • #21,113
  • Nov 2, 2010 3:48pm Nov 2, 2010 3:48pm
Quoting fosking
USD has been slowly strengthening against the Yen so far this week, climbing the rising trend line. Now we could see a possible break of this trend line as MACD is showing divergence and we have recently touched the weekly Pivot.

USD/JPY 5M 01/11 - 05/11
Attachment
We now have a break of the rising trend line.

USD/JPY 5M 01/11 - 05/11
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  • #21,114
  • Nov 2, 2010 4:00pm Nov 2, 2010 4:00pm
bullish diversion
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Know when to hold em, Know when to fold em!
  • #21,115
  • Nov 2, 2010 4:12pm Nov 2, 2010 4:12pm
Quoting richy
who is ashraf laidi??
The power of google is awesome. You might want to give it a spin. Not saying that everyone should know everything, just that a little initiative can resolve a lot.

http://www.google.ca/search?sourceid...q=ashraf+laidi
  • #21,116
  • Nov 2, 2010 7:55pm Nov 2, 2010 7:55pm
Sigh I just woke up and feel a little disappointed today... I mean where's the 500 pip spike intervention this morning haha
  • #21,117
  • Nov 2, 2010 8:31pm Nov 2, 2010 8:31pm
Quoting JollyBean
Sigh I just woke up and feel a little disappointed today... I mean where's the 500 pip spike intervention this morning haha
i'd be kinda disappointed if it were only a 500 pip intervention.
  • #21,118
  • Nov 2, 2010 10:14pm Nov 2, 2010 10:14pm
i just went long based upon the lack of activity in this thread.

  • #21,119
  • Nov 2, 2010 10:51pm Nov 2, 2010 10:51pm
I would expect with GOP taking over the house to see some more dollar strength but maybe that doesn't show yet because of Japan bank holiday.
I'm long UJ but a bit in the negative at the moment.

Shamu
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  • #21,120
  • Nov 2, 2010 11:48pm Nov 2, 2010 11:48pm
aligning for London open ...?
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