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USD/JPY Discussion

  • #25,521
  • Aug 4, 2011 8:18pm Aug 4, 2011 8:18pm
Quoting Mr Breakout
Japan cannot afford a 75 Yens for 1 Dollar rate either.
Clearly they can otherwise round 2 would have commenced to send a strong message. Right now thursday was feeble.
  • #25,522
  • Aug 4, 2011 8:18pm Aug 4, 2011 8:18pm
Quoting Unknownpips
Amazing intervention. They wont do anything till tomorrow.
If the NFP report is positive tomorrow, BOJ will have even more reasons to dump their Yens and buy Dollars.
  • #25,523
  • Aug 4, 2011 8:22pm Aug 4, 2011 8:22pm
It's really a competition for exports, and they want to win with a competitive price point. They really need their profit projections to pan out, and that was based on a strong dollar. Since there are other exporting countries competing with them for the US market it might not be an immediate win.
  • #25,524
  • Aug 4, 2011 8:27pm Aug 4, 2011 8:27pm
They can try all they want to curb Yen buying but unless its a continuous selling spread over couple of days just to make sure people don't keep strengthening, nothing is achieved.
  • #25,525
  • Aug 4, 2011 8:48pm Aug 4, 2011 8:48pm
The BOJ is probably waiting now to see if traders are taking the hint of their clout and also for general positive dollar sentiment.
  • #25,526
  • Aug 4, 2011 8:49pm Aug 4, 2011 8:49pm
Quoting Unknownpips
Clearly they can otherwise round 2 would have commenced to send a strong message. Right now thursday was feeble.
Well, while it is true that in 1985 the USD/JPY did reach a historical low level of 64.55, in 2011 a YEN this strong could simply cripple the entire Japanese economy.
  • #25,527
  • Aug 4, 2011 9:35pm Aug 4, 2011 9:35pm
On the 4h chart, the USD/JPY broke its downtrend line and is theoretically on its way up.

But on the daily chart the USD/JPY simply hit a strong resistance so it must go down, at least theoretically.

Though call on this one, indeed.
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: yen2.png Size: 79 KB
  • #25,528
  • Aug 4, 2011 9:43pm Aug 4, 2011 9:43pm
Quoting Mr Breakout
On the 4h chart, the USD/JPY broke its downtrend line and is theoretically on its way up.

But on the daily chart the USD/JPY simply hit a strong resistance so it must go down, at least theoretically.

Though call on this one, indeed.

It's testing major support levels and fibs, time will tell.
  • #25,529
  • Aug 4, 2011 9:58pm Aug 4, 2011 9:58pm
Quoting werido
It's testing major support levels and fibs, time will tell.
The JPY Leading Index report is due in 2 hours, let's hope it clears things up, one way or the other.
  • #25,530
  • Aug 4, 2011 11:20pm Aug 4, 2011 11:20pm
GBP/JEN was much more fun to trade in the last 27 hours.
410 pips up, 310 pips down so far LOL
New voice message: Why are you calling me? If I need you, I'll call you!
  • #25,531
  • Aug 4, 2011 11:26pm Aug 4, 2011 11:26pm
If the USD/JPY does not rebound from the 78.45 level on the hourly chart game is over, it is going down.
  • #25,532
  • Aug 4, 2011 11:41pm Aug 4, 2011 11:41pm
Come on boy, up up up, go get them !
  • #25,533
  • Aug 4, 2011 11:42pm Aug 4, 2011 11:42pm
Quoting Mr Breakout
If the USD/JPY does not rebound from the 78.45 level on the hourly chart game is over, it is going down.

I think Noda just answered that for you
  • #25,534
  • Aug 4, 2011 11:44pm Aug 4, 2011 11:44pm
Quoting Mpt
I think Noda just answered that for you
Yep, it was about time
  • #25,535
  • Aug 4, 2011 11:44pm Aug 4, 2011 11:44pm
Not really over yet,Looking buy from the trendlines
Attached Image (click to enlarge)
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  • #25,536
  • Aug 4, 2011 11:57pm Aug 4, 2011 11:57pm
That was an odd 100 pip move
  • #25,537
  • Aug 4, 2011 11:57pm Aug 4, 2011 11:57pm
Quoting Mr Breakout
Yep, it was about time
maybe just someone with a bad case of nerves
  • #25,538
  • Aug 5, 2011 12:02am Aug 5, 2011 12:02am
Quoting Mr Breakout
That was an odd 100 pip move


Wondered why all the jpy pairs. It must have been news.
  • #25,539
  • Aug 5, 2011 12:17am Aug 5, 2011 12:17am
Quoting smurf
Wondered why all the jpy pairs. It must have been news.
Nikkei is down 150 points since this morning.
  • #25,540
  • Aug 5, 2011 12:29am Aug 5, 2011 12:29am
"Our stance is clear. We will take decisive action against excessive exchange rate volatility," Noda told parliament."

http://finance.yahoo.com/news/Japan-....html?x=0&.v=1
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