USD/JPY Discussion

Expect the unexpected anything is possible. Naturally want to leave on a high note, may spring a surpise of a good intervention then step down. Nothing is impossible everything is possible.

Keep Draw and Draw until you find confirmation and always protecting your position with stoploss then let your profits ride untill the trend change

Jpy losing ground towards both the Eur and Gbp, but not against the Usd. Imo, this pair will hit new all time lows as BOJ will not step in before it hits 74 to 75 (if at all).

It tried to break and hold 77 several times, without success. Each and every time it met with fierce opposition despite threat of BOJ stepping in. Those thinking that this pair will head lower also see that the BOJ is unable to facilitate longterm resistance.

When will this man realize that rethoric is no longer considered being of any use ? The lower Usd/Jpy is clear proof that his credibility is getting worse.

Japan on Monday pledged " decisive action" to counter the rise of the yen to levels that could threaten the nation's recovery from the impact of the March 11 disasters.

Finance Minister Yoshihiko Noda on Monday stepped up his rhetoric against the yen's rise, suggesting the government would act to counter speculative moves after the unit hit a post-war high against the dollar Friday.

BOJ says :i want to play a game .
then.............the market is scared

Those still in doubt whether the pair will hit new lows, read and .....
Us moneyprinting will counter each and every attempt to lower Jpy, they simply have no choice but to ease monetary policy in order to try and jumpstar the Us economy. Imo, the Jackson Hole symposium will reveal plans of further moneyprinting by the Us. Too bad for thos long Usd/Jpy.

Usd is, once again being sold all over the place, in fear of further monetary easing.

Usd/Jpy; see 74.30 in near future.

Japan's finance minister on Tuesday warned speculators against betting on further yen gains that could hinder recovery from the March earthquake, but his chances of keeping them at bay looked in doubt as ultra-easy U.S. monetary policy could keep the dollar weak.http://media.cnbc.com/i/CNBC/Section...en_fan_200.jpg

Yoshikazu Tsuno | AFP | Getty Images

A bank teller counts 10,000 yen (118 USD) bank notes in Tokyo on September 22, 2010. The USD tumbled against the yen in Asia after the US Federal Reserve indicated it was prepared to take further measures to boost a faltering economic recovery. The USD fell to 84.80 yen in Tokyo morning trade, down from 85.15 yen in New York.
Bank of Japan Governor Masaaki Shirakawa also declared that recent yen rises were driven in large part by speculative activity and would badly hurt the economy, signalling the bank's readiness to ease monetary policy again if the recovery's prospects are threatened.
St. Louis Federal Reserve President James Bullard, in an interview published on Tuesday, said the Fed could increase bond purchases, exchange long bonds for shorter-dated notes or make a commitment on the size of its balance sheet to further stimulate the U.S. economy.
Bullard does not vote on monetary policy, but the fact that a known monetary policy hawk would openly lay out options for a third round of quantitative easing may offer a preview of the Fed's Jackson Hole summit this week.
The yen [JPY= 76.51 http://media.cnbc.com/i/CNBC/CNBC_Im...hlist_down.gif -0.30 (-0.39%) http://media.cnbc.com/i/CNBC/CNBC_Im...ltime_icon.gif] is hovering not far from a record high of 75.94 to the dollar hit last Friday, prompting warnings from Japanese policymakers and keeping investors wary of possible intervention aimed at weakening the yen.
Depending on the tone that Fed Chairman Ben Bernanke sets at the summit, the dollar could move lower and test Japanese policymakers' resolve.
"Excessive yen strength has adverse effects on Japan's economy just as we are dealing with the damage from the quake," Finance Minister Yoshihiko Noda told a news conference. "I'm closely checking if there are speculative moves behind it."
The BOJ is also on guard and will consider easing monetary policy, possibly before its rate review on Sept. 6-7, if sharp yen rises push down stock prices enough to severely hurt
business sentiment, sources familiar with the central bank's thinking have said.
"As a central bank, we are always considering taking drastic and aggressive steps," Shirakawa told parliament on Tuesday.
BOJ Ready to Act
If excessive yen rises persist, Noda said the government would take steps to help the economy cope, either through a supplementary budget it plans to compile to support post-quake rebuilding, or by tapping an emergency reserve fund earmarked in the current fiscal year's budget.
Tokyo intervened unilaterally in the currency market and eased monetary policy on Aug. 4 but the steps have not stopped investors from seeking the yen as a safe haven against risk.

RELATED LINKS








Markets are bracing for another round of intervention but doubt whether it would be effective in sustainably weakening the yen, particularly with little chance that Tokyo can persuade its G7 counterparts to act jointly in the currency market.
Japan's campaign to weaken the yen is further complicated as ultra-easy U.S. monetary policy is contributing to a broad-based decline in the dollar.
"If the economy weakens substantially, and especially if the inflation picture starts to deteriorate so that deflation becomes a risk again, then I think the committee would definitely take action," Bullard said in an interview with the Nikkei newspaper published on Tuesday.
Recent market turmoil and signs of weaker U.S. growth have boosted expectations that Bernanke may hint at more emergency stimulus in a speech on Friday.
Japan is also under pressure to help its economy recover from the natural disaster and has in the past expressed alarm at speculative bets on yen appreciation.
Shirakawa told parliament that while the BOJ would not aim to influence currency moves with monetary policy, it has taken and will take monetary policy action if market developments derail Japan's recovery from the devastation of the March quake.
Speculators' net long positions in the yen against the dollar stood at 47,348 contracts in the week to Aug. 16, U.S. Commodity Futures Trading Commission data showed.
Just before Japan intervened on Aug. 4, net long yen positions rose to 58,833 in the week to Aug. 2.

Trying a long just above WPP @ 76.53

Update 5M Chart

Hopefully This is not double top 5M Version...
Wait,,I said Hope?Thats mean am long?Yes I am Long

where will be the SL this time ?

no changes 76.40

Some buy order sit in 76.49-76.50 area very well and in the 5M chart already touch 10times over

changed stop to BE

pfff, stopped now waiting for something below 76 stop helping that bastard Noda now

Daily Outlook

for scalpers there's a really really good sell signal on USDJPY and GBPJPY

chart within a few

Mthe marked bars shows huge selling specially in the last 2 marked bars, ultra high volume with next bar also showing high volume at the same level, which shows selling exists,

on the M15 chart, the marked bar with a sudden high volume an hour before tokyo is just suspicious with the next bar taking its lows showing selling.

lets see what happens

It is Moody's downgrade of Japan...

2011.08.24 05:33:14 PRESS RELEASE: Moody's Downgrades Japan Banks' -2-

Well I can say I'm a bit confused and about to sideline myself from the Yen, I have one small long position a bit underwater....I have enjoyed playing the range...however want to see some direction taking shape especially after the down grade and the 100 billion dollar assistance announcement all seems to be a non market mover? What will pull this thing out of its range long or short?