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USD/JPY Discussion

  • #21,641
  • Nov 23, 2010 6:27am Nov 23, 2010 6:27am
Japhar, the Yen is being played as a safe haven. Look at the other yen crosses, it's strong across the board.
  • #21,642
  • Nov 23, 2010 6:37am Nov 23, 2010 6:37am
Quoting fosking
Japhar, the Yen is being played as a safe haven. Look at the other yen crosses, it's strong across the board.
nice metaphor.. "being played" thx for the explanation
  • #21,643
  • Nov 23, 2010 6:39am Nov 23, 2010 6:39am
wait for more confirmation to short and just took my profits since 80.7. safe haven battle indeed, between USDJPY,USDCHF, and CHFJPY.the move seems directionless..
  • #21,644
  • Nov 23, 2010 6:43am Nov 23, 2010 6:43am
It may fall till 82.60 (D1 fibo levels).
  • #21,645
  • Nov 23, 2010 6:52am Nov 23, 2010 6:52am
Just curious, who are these people who are "playing" in such a manner, is there any benefits to be gained from doing this?
  • #21,646
  • Nov 23, 2010 7:38am Nov 23, 2010 7:38am
hm, we are at the exact level where BoJ intervened some months ago

Maybe again?
this pig cannot be slaughtered for ever... or can it?
  • #21,647
  • Nov 23, 2010 7:45am Nov 23, 2010 7:45am
perhaps this article will help us to understand current situation

http://forexnewsnow.com/economic-eve...-uneasy-future
  • #21,648
  • Nov 23, 2010 7:50am Nov 23, 2010 7:50am
Thanks for the article. Looks like the Jap govt is trying very hard to lower the value of the Yen, but if it didn't interfere when the Yen is at 80 plus in the USDJPY pair, no reason for it to intervene now. Also the trend today looks like strengthening the Yen instead.
  • #21,649
  • Nov 23, 2010 7:52am Nov 23, 2010 7:52am
Quoting georgem
hm, we are at the exact level where BoJ intervened some months ago

Maybe again?
Hey, you know Mr. Noda? He is watching....
The Market pays you to be disciplined
  • #21,650
  • Nov 23, 2010 8:05am Nov 23, 2010 8:05am
Quoting beginnerluck
Thanks for the article. Looks like the Jap govt is trying very hard to lower the value of the Yen, but if it didn't interfere when the Yen is at 80 plus in the USDJPY pair, no reason for it to intervene now. Also the trend today looks like strengthening the Yen instead.
plus QE2 stimulus program, this pair surely will drop. i was wondering about intervention, perhaps they are intervening now on Euro-Yen crosses just a few minutes ago?
  • #21,651
  • Nov 23, 2010 8:07am Nov 23, 2010 8:07am
Quoting mima
Hey, you know Mr. Noda? He is watching....
yes, he is watching closely, lol
  • #21,652
  • Nov 23, 2010 8:10am Nov 23, 2010 8:10am
Quoting georgem
hm, we are at the exact level where BoJ intervened some months ago

Maybe again?
Yen going to be in deep shit after this....buy dip is on..will add if it goes to 81.80/90...



just add at 82.821 just now
Attached Image (click to enlarge)
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  • #21,653
  • Nov 23, 2010 8:13am Nov 23, 2010 8:13am
Quoting grashid
will add if it goes to 81.80/90
  • #21,654
  • Nov 23, 2010 8:16am Nov 23, 2010 8:16am
Quoting fosking
..

i have 99 more post and i hope i could end nicely with UJ n GY...
perhaps when USDX touch 80.70 area...

enjoys ur trade mate....bb tomorrow asian ya...

going to zzzzzzz
  • #21,655
  • Nov 23, 2010 8:21am Nov 23, 2010 8:21am
Quoting beginnerluck
Just curious, who are these people who are "playing" in such a manner, is there any benefits to be gained from doing this?
These are the Big Boys (banks, large hedge funds, etc). It's these guys which move the market. They have one thing on their mind and that's to make and keep safe a much money as they can. In todays market, any uncertainty will have them running to the safe havens such as Gold, USD, CHF, JPY, Bonds. They don't pick tops or bottoms and normally work on fundamentals. If you see stock markets plummeting along with bond yields with gold rising, get safe.
  • #21,656
  • Nov 23, 2010 8:23am Nov 23, 2010 8:23am
Quoting grashid
..

i have 99 more post and i hope i could end nicely with UJ n GY...
perhaps when USDX touch 80.70 area...

enjoys ur trade mate....bb tomorrow asian ya...

going to zzzzzzz
Have a good sleep dreaming of those pips mate
Catch you later!
  • #21,657
  • Nov 23, 2010 8:33am Nov 23, 2010 8:33am
let's stay aside for few hours, i am eagerly waiting for FOMC meeting minutes
  • #21,658
  • Nov 23, 2010 9:06am Nov 23, 2010 9:06am
Quoting grashid
Yen going to be in deep shit after this....buy dip is on..will add if it goes to 81.80/90...



just add at 82.821 just now
hello, professional guy,where is your stop loss position ?
A chart helps those who can read it.
  • #21,659
  • Nov 23, 2010 9:12am Nov 23, 2010 9:12am
Quoting georgem
hm, we are at the exact level where BoJ intervened some months ago

Maybe again?
Good catch. Could even be a reverse head & shoulders, if the USD weren't on a long-term one way ticket into the dumpster.

I think the chances of BoJ intervention are incredibly small. I expect some sort of deal has been cut between the US & Japan that we will never be privy to, but, Japan has been castrated in some way - the payoff and goodness has somehow been pushed down the road..

It was odd though that Noda started the week with "I'm watching, will intervene if needed" sounds bites ...
  • #21,660
  • Nov 23, 2010 11:19am Nov 23, 2010 11:19am
WASHINGTON (MarketWatch) - The Federal Reserve's governors and regional presidents have grown more sour on growth and unemployment, with some saying it could take more than six years for the jobless rate to return to normal levels, according to a summary of projections released Tuesday. Their "central tendency" is for the economy to grow 2.4% to 2.5% this year, down from expectations of 3% to 3.5% in June. Next year, they see the economy accelerating to 3% to 3.6% growth, followed by 3.6% to 4.5% growth in 2011 and 3.5% to 4.6% growth in 2013. The 2011 forecast is notably slower than the 3.5% to 4.2% prediction they made in June. And this muted growth won't do much to alter the unemployment rate. The Fed members see the jobless rate between 9.5% and 9.7% this year, 8.9% to 9.1% in 2011, 7.7% to 8.2% in 2012, and a still-elevated 6.9% to 7.4% in 2013. That compares to June projections of 9.2% to 9.5% unemployment in 2010, an 8.3% to 8.7% unemployment rate in 2011 and a 7.1% to 7.5% projection for 2012

http://www.marketwatch.com/story/fed...ate-2010-11-23
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