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USD/JPY Discussion

  • #23,101
  • Mar 16, 2011 4:50pm Mar 16, 2011 4:50pm
Quoting abdunbar
Why do you think japan wants to sell off dollars? They want a strong dollar and a weak yen. so they can buy groceries. This move makes their imports expensive.

They want to print yen.

sorry. said it backward, strong yen to buy groceries. weak yen helps their exports.
  • #23,102
  • Mar 16, 2011 4:54pm Mar 16, 2011 4:54pm
Quoting 45Condor
http://www.zerohedge.com/
This guy is a doomster if you cannot handle 300-400 pips drop,

you shouldn't trade UJ pair at all during those crazy times.. Stay AWAY.
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  • #23,103
  • Mar 16, 2011 5:01pm Mar 16, 2011 5:01pm
I don't understand why so many "investors" felt like the Yen was going to collapse during this crisis. I read countless articles on how BOJ was going to intervene and counter the repatriation of funds (ie increasing yen demand). I always felt like BOJ's primary objective was to stabilize the equities markets, but not weaken their currency. They need to rebuild first, not worry about exports. Without power, factories and industrial stability what is there to export? First you fix the ship, then you sail it out; not other way around. Japan (the government and large contracted corporations) want a strong yen. Do you know how much they need to spend on new reactors alone? (or whatever alternatives to produce energy)
  • #23,104
  • Mar 16, 2011 5:05pm Mar 16, 2011 5:05pm
Quoting bzyqe
In this time BOJ don't sell any JPYs but USD.
Who is BOJ at this point? There is ECB and FED also watching..

BOJ better start to take care of evacuation of their stuff. I prepare that

this might drop to 70, then I'd probably will quit trading Forex ones

prices resume back over 80 in short while..
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  • #23,105
  • Mar 16, 2011 5:10pm Mar 16, 2011 5:10pm
Perhaps. However, this site, and a few of the contributers, do provide for some prescient commentary. Of course, one should not rely on one site alone for opinion, but I must admit to liking some of the humour from the members.

Mainstream media - pff, would rather throw bones to form an opinion.

Quoting SkyzerFX
This guy is a doomster if you cannot handle 300-400 pips drop,

you shouldn't trade UJ pair at all during those crazy times.. Stay AWAY.
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #23,106
  • Mar 16, 2011 5:13pm Mar 16, 2011 5:13pm
Quoting hutrader
Anyway, breaking out below this triangle in a downtrend simply doesn't mean to go long.
For those who think JPY should weaken on fundamentals should think about the following.
Fact is that many corporates will need JPY to rebuild Japan. So JPY weakening? Maybe not.
Yes maybe not.. I'm telling you, if they fix the backup power for the

Nuclear power plants over night pair going to jump back over 80+

I saw this many times before with JPY pairs, no surprise at all..

Buy low sell high.. When fear is at the highest, means Strong Buy, or just stay away..

For me it's a 2 decade OPP to short this PIG (yen) at such levels.

we'll see as always...
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  • #23,107
  • Edited 5:18pm Mar 16, 2011 5:13pm | Edited 5:18pm
If 76.29 goes, we may see, well, I do not know as I have no more chart, to chart, so to speak.
Attached Image (click to enlarge)
Click to Enlarge Name: uj.gif Size: 45 KB
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #23,108
  • Mar 16, 2011 5:15pm Mar 16, 2011 5:15pm
the gap will close its just the matter of having the balls to pull the trigger
  • #23,109
  • Mar 16, 2011 5:16pm Mar 16, 2011 5:16pm
wahooooooooooo +282pips and i only entered a couple hours ago!!!!!! am tinking of setting an order to sell at 77 overnight????
  • #23,110
  • Mar 16, 2011 5:17pm Mar 16, 2011 5:17pm
So, what now. Buy or sell
Dreaming in Charts...
  • #23,111
  • Mar 16, 2011 5:17pm Mar 16, 2011 5:17pm
Quoting 45Condor
If 76.14 goes, we may see, well, I do not know as I have no more chart, to chart, so to speak.
So the chart is uncharted?
Doing what you like is Freedom. Liking what you do is Happiness.
  • #23,112
  • Mar 16, 2011 5:18pm Mar 16, 2011 5:18pm
Quoting gh0stjpy
wahooooooooooo +282pips and i only entered a couple hours ago!!!!!! am tinking of setting an order to sell at 77 overnight????
id close and go out to eat or whatever you do for fun not worth the risk of holding
  • #23,113
  • Mar 16, 2011 5:20pm Mar 16, 2011 5:20pm
Quoting agolac
So, what now. Buy or sell
watch unless you like gambling
  • #23,114
  • Mar 16, 2011 5:20pm Mar 16, 2011 5:20pm




Quoting realjumper
So the chart is uncharted?
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #23,115
  • Mar 16, 2011 5:21pm Mar 16, 2011 5:21pm
Quoting tjhimself
id close and go out to eat or whatever you do for fun not worth the risk of holding
Absolutely....take the money and run. Don't let greed make you give it all back!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #23,116
  • Mar 16, 2011 5:21pm Mar 16, 2011 5:21pm
A strong YEN will help little and a stronger YEN will help even less in the reconstruction of Japan.

I smell money starting to flow to Japan with that sudden burst of flow after the closing bell; banks usually remit the money during this time!
  • #23,117
  • Mar 16, 2011 5:24pm Mar 16, 2011 5:24pm
Full credit to Kathy Lein:

USD/JPY: Top 10 Largest Moves and How the BoJ Responded
March 16, 2011

The sell-off in USD/JPY this evening is one of the top 5 largest moves ever for USD/JPY. Whenever USD/JPY experiences such sharp volatility over a short period of time, the Bank of Japan usually comes in to quell the volatility. The following table shows the Bank of Japan’s actions in response to the top 10 largest moves ever in the currency pair. As you can see, the BoJ came into the market 7 out of the last 10 times USD/JPY experienced such a strong move. The reason why they did not intervene in 1998 was because USD/JPY was trading at 121 at the time. They also did not intervene in 2008 because USD/JPY jumped 5.66 percent, which helps rather than hurts the Japanese economy. Reuters reported that G7 finance ministers will be holding conference call on Japan tomorrow. Intervention by the BoJ is very likely this evening and if that fails to do the trick, the central bank and the Ministry of Finance could make a plea for coordinated intervention when the G7 meets tomorrow.

Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy031611.jpg Size: 54 KB
  • #23,118
  • Mar 16, 2011 5:24pm Mar 16, 2011 5:24pm
Quoting bzyqe
it was clear. when stocks go strong down then investors buy the carry currency like CHF or JPY. So you saw so strong downtrend. I had to sold jpy and chf crosses.

In this time BOJ don't sell any JPYs but USD. So we had attack on historical minimum and when this support was broken we have not any breaks to achive new minimums. It can be a begining for next minimums. We will have to wait a some time when BOJ will sell JPYs.

For the future: please use SLs.
It's not a matter of SL, i had one, i admit it was pretty low but i take back all i have on my (micro lol) account
A sudden move like this is a manipulation or trading robots going wild, it's not a normal market at all and i give up on this
  • #23,119
  • Mar 16, 2011 5:28pm Mar 16, 2011 5:28pm
It will be interesting to see if they open the Nikkei.

To gh0stjpy: I would be thinking of taking some of your books, things may become very unclear very shortly. Or should I say, more unclear than they are at present.

Quoting Beljevina
Full credit to Kathy Lein:

[indent]USD/JPY: Top 10 Largest Moves and How the BoJ Responded
March 16, 2011

The sell-off in USD/JPY this evening is one of the top 5 largest moves ever for USD/JPY. Whenever USD/JPY experiences such sharp volatility over a short period of time, the Bank of Japan usually comes in to quell the volatility. The following table shows the Bank of Japan’s actions in response...
Author of: For Pip's Sake! (Available at Amazon... :-) )
  • #23,120
  • Mar 16, 2011 5:28pm Mar 16, 2011 5:28pm
Quoting realjumper
Absolutely....take the money and run. Don't let greed make you give it all back!
yeh that banked thanks , been working on a strategy past month or so and lookin good and seen GBP.JPY & USD.JPY tanking all week so thought what the hell go for UJ as is less volatile than GJ so with a SL 50pips got this, beginners luck or what!!!!!!!

anyway reckon it will go further down from charts, dunno bout fundamentals but will await another drop to get in, gl all

ps: to that guy who lost loads, pls pls pls use a STOP LOSS, first rule in ANY TRADING: not how much u win, how much u can LIMIT LOSS!!!!!!!!!!!
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