USD/JPY Discussion

At support again.

USD/JPY H1

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M15 view.

USD/JPY M15

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It ain't looking good if we close below 7670

Suggest to keep tight stops. Expect more downside if tomorrow's monetary policy statement and Boj's press conference turn out to be nothing more than lot's of blabla rather than hard core action ;-)

Good luck !

USDJPY Daily

to day is boj press confrence let see what out come we will get?

This story will end in tears when lackluster behaviour keeps on ruling Boj.




Yen Shows Jobs Not Top Priority in Japan: Ghosn



Oct. 6 (Bloomberg) -- Nissan Motor Co. Chief Executive Officer Carlos Ghosn talks with Bloomberg's Juan Pablo Spinetto about the company's plans to build an auto-assembly plant in Brazil, the European auto market and the legacy of Apple Inc. co-founder Steve Jobs. Ghosn said the carmaker chose to build a $1.4 billion plant in Resende, Brazil, rather than at a site at the Acu Port in Rio de Janeiro “only for cost reasons.” (Source: Bloomberg)



Carlos Ghosn, chief executive officer of Nissan Motor Co., said Japan faces a “hollowing out” of its industrial base should the government fail to take steps to counter the yen’s rise.
“I have spoken to the prime minister about this directly,” Ghosn said in an interview from Rio de Janeiro yesterday after Yokohama, Japan-based Nissan announced a new $1.4 billion auto plant in Brazil. “If Japan wants employment, you’re going to have to do something about establishing a normal exchange rate.”
Nissan, Toyota Motor Corp. and Honda Motor Co., Japan’s three largest automakers, are shifting production overseas as the yen’s surge erodes the profitability of building cars in their home market. The nation’s currency has risen 5.7 percent this year against the dollar and touched a postwar high of 75.95. The government, led by the Democratic Party of Japan, last intervened to weaken the yen in August.
A lack of government action “is showing that employment is not their number one priority,” Ghosn said. “At 76 yen to the dollar, if this rate was to stay for a while, I think you’re going to see a hollowing out of the industry.”
The yen was trading at 76.65 per dollar at 9:15 a.m. in Tokyo.
The Liberal Democratic Party, Japan’s main opposition party, proposed increasing the Bank of Japan’s asset fund and diversifying the methods of yen intervention to help the country recover from its March 11 earthquake and nuclear disaster.
‘Empty Shell’

The LDP called for increasing the central bank’s asset- buying fund by 10 trillion yen ($130 billion) to 25 trillion yen, according to a document obtained from LDP lawmaker Naokazu Takemoto.
“The DPJ government has left the accelerating yen’s rise to its own course,” the LDP document said. “The Japanese economy runs the risk of becoming like an empty shell.”
Nissan’s new 200,000-unit assembly plant in Brazil is scheduled to open in 2014. The company has also boosted investment in factories in Mexico and Thailand for small cars that it says can no longer be built profitably in Japan.
Toyota, Asia’s biggest carmaker, said Sept. 13 it will spend 26.3 billion yen to build a second factory in Indonesia. The Toyota City-based company is setting up a production hub complete with a network of suppliers in the Southeast Asian country as it aims to get half its sales from emerging markets by 2015.
Honda Exports

Honda, based in Tokyo, said Oct. 5 it plans to reduce exports to as little as 10 percent of domestic production, from 34 percent last year.
“Business people, when they make a decision about where to source a new project or where to source new parts or where to source a new car, well, at 76 yen to the dollar it’s very easy to come to the conclusion that Japan is not a good place to source that,” Ghosn said. “I don’t think Japanese corporations are going to suffer from it, they are just going to adapt to it. Adapting to it means projects are going to be made outside Japan.”

could be wrong oc, but looking for 76.32 as next point for possible long

D1:

I got stopped at BE last night.
Entered short on the re-test of the ascending trend line and targeting around daily R2 and weekly R1.

USD/JPY H1

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don't have the balls to short this thing, hope we see 76.32 though

Closed at -6 pips.
No movement and I'm done for the week.
Have a nice weekend.

Same to you.. Good luck and God bless you.. Amen.

long 25 pip 50 would take to long in this tight range

Us non farm news coming, a whip saw is very expected . staying out for now

USDJPY Daily

Guess what ? Eur/Cad/Aud are still moving up against the Jpy !
What about the Usd ? lol

This Pattern hold very well,next week we should be know what side to be break first

USD/JPY – Bias (D1): Consolidation; Bias (Overall): Consolidation

http://lcchong.files.wordpress.com/2...ng?w=837&h=379

The only question is will it spike down 500-600 pips first and then reverse completely like chf did or,this is the bottom and there wont be any spike down,just up up up .Anyway this is already golden opportunity to make huge money in 3 months time for someone who doesnt use any leverage and have proper funds.

Just up from here, oww Ive been thinking that for quite a while . Lets hope this is the bottom and huge money is in store for us, eh,Pinky