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  • #5,641
  • Mar 11, 2011 6:12am Mar 11, 2011 6:12am
Quoting n000b
Was a rough ride, but atlast we got there! nice weekend everyone!
I think the EJ wants to give us a ride to the upside, for ~75-80 pips.

Pending Buy at 113.45...
If it floats, flies, or f%^ks, rent it, it's cheaper.
  • #5,642
  • Mar 11, 2011 5:06pm Mar 11, 2011 5:06pm
Quoting oeden
Yes yes, I've been watching the news ever since the first big one hit. To be honest, I'm confused as to why the yen would gain so much when the Nikkei drops, the industrialized section of the country is in ruin, etc.

That was my question. Is there some logic I'm missing or is it just traders going ape shit?

edit: "lol", it isn't funny, but again, I wasn't laughing at the situation.
This is a good question!
And always on good simply questions it is not possible to give an answer. i mean, only ONE answer.
Every one get his own idea about facts like this and everyone is right. But same time every one is wrong.
So finally im very sorry to say that the only thing true here is that the market has its own personality, n decisions n trends.
And sometimes things are not so 100% clear

Sounds like when you know a man or a woman but finally you don't know anything about him/her.
90% of traders use TA, indicators and prediction
  • #5,643
  • Mar 12, 2011 1:38am Mar 12, 2011 1:38am
Quoting _BBKing_
This is a good question!
And always on good simply questions it is not possible to give an answer. i mean, only ONE answer.
Every one get his own idea about facts like this and everyone is right. But same time every one is wrong.
So finally im very sorry to say that the only thing true here is that the market has its own personality, n decisions n trends.
And sometimes things are not so 100% clear

Sounds like when you know a man or a woman but finally you don't know anything about him/her.
Yen went up because many insurance companies will have to buy a lot of yen to pay to rebuild the the adversely effected/damaged parts of the country.

Ron
  • #5,644
  • Mar 12, 2011 10:20pm Mar 12, 2011 10:20pm
Quoting FXnewb1
Yen went up because many insurance companies will have to buy a lot of yen to pay to rebuild the the adversely effected/damaged parts of the country.

Ron
hello,
now better dont trade jpy, becouse there are my be 110 our 116 at this day.
  • #5,645
  • Mar 13, 2011 3:17am Mar 13, 2011 3:17am
Quoting oeden
I've been watching the yen crosses and must admit I'm stumped as to this massive drop. Anyone have any comments other than it's Friday and this is forex
“The yen may be strengthening on some domestic repatriation of the currency,” said Jane Foley, a senior strategist at Rabobank International in London. “The yen generally benefits in times of uncertainty created by natural disasters. The yen hasn’t fully given up its safe-haven status, despite the fact that Japan has been hit by this crisis.”

http://noir.bloomberg.com/apps/news?...d=aRjbSif6VhAI

When the last large earthquake hit Japan in Kobe 1995, the YEN appreciated to 79.75. Nevertheless, this time it´s different...Japan is NOT in the same fiscal situtaion like it was in 1995!
________________________________ Errare humanum est
  • #5,646
  • Mar 13, 2011 3:19am Mar 13, 2011 3:19am
For its part, the Bank of Japan pledged to ensure financial stability, setting up an emergency task force and saying it will do everything to provide liquidity. Tomorrow, the central bank holds a meeting, bringing its scheduled policy announcement forward one day to speed its reaction to the temblor.



Meantime, the Ministry of Finance may be prompted to intervene in the foreign exchange market should the nation’s currency climb and risk worsening deflationary pressures and undermining export competitiveness, analysts said.


“Insurance companies are unlikely to buy overseas assets aggressively while they worry about pending claims” stemming from the earthquake, Mansoor Mohi-uddin, the head of global currency strategy at UBS AG who was in Tokyo for visits with clients and present for the earthquake, wrote in a note. He predicted that the yen won’t strengthen past 80, citing the likelihood of authorities selling the currency to stem gains.
________________________________ Errare humanum est
  • #5,647
  • Mar 13, 2011 10:09am Mar 13, 2011 10:09am
Schedule for the Next Monetary Policy Meeting


March 11, 2011
Bank of Japan
Today, the Chairman of the Policy Board decided to hold the next Monetary Policy Meeting from 1:00 p.m. on March 14, and to intend to end it on that day.



http://www.boj.or.jp/en/announcement...el110311g.htm/
________________________________ Errare humanum est
  • #5,648
  • Mar 13, 2011 12:58pm Mar 13, 2011 12:58pm
Quoting MisterTrader
“The yen may be strengthening on some domestic repatriation of the currency,” said Jane Foley, a senior strategist at Rabobank International in London. “The yen generally benefits in times of uncertainty created by natural disasters. The yen hasn’t fully given up its safe-haven status, despite the fact that Japan has been hit by this crisis.”...

Thanks to you and FXnewb1 for your comments. I understand the rationale behind the extreme strengthening of the yen now.
  • #5,649
  • Mar 13, 2011 3:12pm Mar 13, 2011 3:12pm
Quoting n000b
I think the EJ wants to give us a ride to the upside, for ~75-80 pips.

Pending Buy at 113.45...
Looks like the market will open well above my TP , the windows forex widget i have is showing EJ at 114.667 :O
If it floats, flies, or f%^ks, rent it, it's cheaper.
  • #5,650
  • Mar 13, 2011 3:40pm Mar 13, 2011 3:40pm
Quoting oeden
Thanks to you and FX newb1 for your comments. I understand the rationale behind the extreme strengthening of the yen now.
Beware, Bank of Japan can actually decide tomorrow to MASSIVELY print JPY!!! The damage in Japan goes into the 10´s of billions OF USD or trillions of JPY. Giving the desastrous government finances, there is only ONE OPTION for BOJ: printing money!
________________________________ Errare humanum est
  • #5,651
  • Mar 14, 2011 1:22am Mar 14, 2011 1:22am
BoJ injects Y15,000bn to soothe markets

By Michiyo Nakamoto in Tokyo and agencies
Published: March 13 2011 15:41 | Last updated: March 14 2011 00:43

The Bank of Japan announced it was injecting Y15,000bn ($183bn) in a move to stabilise markets and the banking system.
“The bank will do its utmost to continue ensuring stability in the financial markets and securing smooth settlement of funds,” it said on Monday.
The central bank provided Y12,000bn in funds to financial institutions and said an additional Y3,000bn was available for future use, in an effort to soothe markets and keep short-term borrowing costs from spiking.
________________________________ Errare humanum est
  • #5,652
  • Mar 14, 2011 2:10am Mar 14, 2011 2:10am
Hello,

Technical situation

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  • #5,653
  • Mar 14, 2011 6:52am Mar 14, 2011 6:52am
This pair was 8 hours ago a strong buy at 113.86 and remains a buy.

http://img576.imageshack.us/img576/7220/ej8h.png
________________________________ Errare humanum est
  • #5,654
  • Mar 14, 2011 11:11pm Mar 14, 2011 11:11pm
I miss u tips
  • #5,655
  • Mar 15, 2011 5:56am Mar 15, 2011 5:56am
Rumors from London desks: Bank of Japan calling dealing desks to "check prices"...
________________________________ Errare humanum est
  • #5,656
  • Mar 15, 2011 10:56am Mar 15, 2011 10:56am
What do you mean with this?.
Thanks.

Quoting MisterTrader
Rumors from London desks: Bank of Japan calling dealing desks to "check prices"...
  • #5,657
  • Mar 16, 2011 3:57am Mar 16, 2011 3:57am
Quoting Rul
What do you mean with this?.
Thanks.
It's often a signal they are not content with market conditions and often used as a sign of possible intervention
Don't be a hero. Don't have an ego. Always question yourself
  • #5,658
  • Mar 17, 2011 6:49pm Mar 17, 2011 6:49pm
lets see if my position is right

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90% of traders use TA, indicators and prediction
  • #5,659
  • Mar 17, 2011 7:25pm Mar 17, 2011 7:25pm
this thing is out of control.
113.70.

who could have expected this?
90% of traders use TA, indicators and prediction
  • #5,660
  • Mar 17, 2011 7:38pm Mar 17, 2011 7:38pm
G7 and BOJ have agreed intervention on USDJPY...
Use me as a contrarian indicator
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