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USD/JPY Discussion

  • #28,261
  • Oct 21, 2011 4:07am Oct 21, 2011 4:07am
Quoting SIgurs
Gm Mindset,

Unfortunately I don't have a crystal ball. So I honestly do not know whether the 76.62 level will hold. What I merely want to point out is that I do not believe in dollar strenght as Alorente does, nor do I believe bogus stories like the ones Western told us. BTW, were are these guys ? Bet you'll see them again when this pair takes off (however slim chances may be). lol

For me it's simple; Boj is turning ship and does no longer believe that plain old simple Forex intervention will do the trick as it used to do in the old days when...
Imo,They need too know clearly where's the causes that effecting yen stronger each day and they wont be able solve the problem if they dont kill the root totally,helping company going thru wont be helping anyhing in mid and longer term

however,based on the monthly chart pattern I'm believe that we might see a clear direction next month..
If there was easy money lying around,no one would be forcing it into your
  • #28,262
  • Oct 21, 2011 4:18am Oct 21, 2011 4:18am
For those who are into these sorts of things, and following on from my previous higher order wave count for this pair at
http://www.forexfactory.com/showthre...56#post5043856, I remain of the opinion (until proven wrong) that UJ MAY be in the final stages of its downwards move.

One of the easier patterns to recognise on this chart is the ending diagonal triangle (wedge) that has been underway for the last day or so. If it continues to remain valid, that wedge should complete in the next few hours. In essence, that may indicate that an entire final wave 5 with all its subwaves was completed in a sideways pattern, but completed nevertheless.

Chart is a 15 minute, expanded out.

Attached Image (click to enlarge)
Click to Enlarge Name: uj.jpg Size: 65 KB
  • #28,263
  • Oct 21, 2011 4:23am Oct 21, 2011 4:23am
Quoting FXMindset
what is comatose bro?do u mean coma?
Yeah.....I mean that this pair is in a coma!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #28,264
  • Oct 21, 2011 4:23am Oct 21, 2011 4:23am
Quoting Mpt
For those who are into these sorts of things, and following on from my previous higher order wave count for this pair at
http://www.forexfactory.com/showthre...56#post5043856, I remain of the opinion (until proven wrong) that UJ MAY be in the final stages of its downwards move.

One of the easier patterns to recognise on this chart is the ending diagonal triangle (wedge) that has been underway for the last day or so. If it continues to remain valid, that wedge should complete in the next few hours. In essence, that may...
Nice one,honestly Imo,rather than thinking what Jap Authority or BOJ would do next,its better for us to keep analyze the chart...as am believe every moves,every break has a reason and wont just happening like that

Nice chart
If there was easy money lying around,no one would be forcing it into your
  • #28,265
  • Oct 21, 2011 4:32am Oct 21, 2011 4:32am
@RealJumper
Attached Image
If there was easy money lying around,no one would be forcing it into your
  • #28,266
  • Oct 21, 2011 4:35am Oct 21, 2011 4:35am
Quoting FXMindset
@RealJumper
LOL.......
Doing what you like is Freedom. Liking what you do is Happiness.
  • #28,267
  • Oct 21, 2011 5:02am Oct 21, 2011 5:02am
Me think, these guys are getting pretty desperate ;-)





Japan also increasingly concerned by currency strength

21/10/11 @ 09:48 GMT by Michael Derks, Chief Strategist

Japan shares Switzerland’s concerns over the deleterious impact that excessive currency strength represents for its domestic economy. Its determination this year to thwart the flood of safe-haven flows into its currency has been relentless, if unsuccessful. Back in August, it spent close to USD 60bln in a burst of shock-and-awe that was rapidly absorbed by willing yen-buyers. In March, Japan convinced the G7 to undertake co-ordinated intervention to prevent sudden yen strength in the aftermath of the earthquake and subsequent tsunami. Last month, the MoF announced that the fx-intervention fund’s borrowing capacity would be tripled from just under USD 200bln to USD 600bln. Overnight, the government has detailed a fresh package of measures designed to enable companies to cope with the high level of the yen, including USD 6.5bln of subsidies for companies that are prepared to build new factories in Japan and an extra USD 2.6bln of subsidies for energy-saving technology. Unfortunately, yet again, the currency has been unresponsive to these latest measures.
  • #28,268
  • Oct 21, 2011 7:32am Oct 21, 2011 7:32am
Quoting SIgurs
Me think, these guys are getting pretty desperate ;-)

 Japan also increasingly concerned by currency strength

21/10/11 @ 09:48 GMT by Michael Derks, Chief Strategist

Japan shares Switzerland’s concerns over the deleterious impact that excessive currency strength represents for its domestic economy. Its determination this year to thwart the flood of safe-haven flows into its currency has been relentless, if unsuccessful. Back in August, it spent close to USD 60bln...

All these measures, all this tough talk and still this pair is just a mere 0.9% above it's all time low !!!! Must be a tough and frustrating job, being a Boj employee ;-)

Face it guys, only a peg will help this pair. lol
  • #28,269
  • Oct 21, 2011 7:47am Oct 21, 2011 7:47am
Could it break 75.90 and make new low
  • #28,270
  • Oct 21, 2011 7:55am Oct 21, 2011 7:55am
Quoting ultra_knight
Could it break 75.90 and make new low
i hope not, i had long it at 76.58 with s/l at 75.85 and tp at 77.40, but it looks not good now.
  • #28,271
  • Oct 21, 2011 8:00am Oct 21, 2011 8:00am
Quoting Yuchen
i hope not, i had long it at 76.58 with s/l at 75.85 and tp at 77.40, but it looks not good now.
I'm seeing big moves in UJ and EJ.... be cautious
  • #28,272
  • Oct 21, 2011 8:01am Oct 21, 2011 8:01am
Quoting SIgurs
The first similar initiative clearly did not work. Tell me, why would
this one be any different ? Imo, just another pathetic attempt to
weaken the Jpy.

Japan to boost dollar loans to curb yen - Nikkei
From reuters.com
The Japan government decided to expand a lending program that will use government-held dollars to increase foreign acquisitions and investments in natural resources to about 10 trillion yen (about $130 billion), aiming to rein in the Japanese currency, the Nikkei business daily reported. The expansion is part of a package of policy...
Told you guys, markets are not taking Boj measures serious, they are calling their bluff. This weeks package was and is just a copy of what they have tried before. Funny thing is that the initial package did not work and yet they still want to do it over again !

Remember; credibility is key !! Imo, todays action, as well as previous numerous spike sell offs are a clear sign that Forex markets are calling Boj's bluff and are not scared by the soft package Boj presented. Who can blame them ? LOL
  • #28,273
  • Oct 21, 2011 8:05am Oct 21, 2011 8:05am
Yen makes a new record low 75.79 !!
  • #28,274
  • Oct 21, 2011 8:05am Oct 21, 2011 8:05am
Quoting ultra_knight
I'm seeing big moves in UJ and EJ.... be cautious
yeah, i got stop out
  • #28,275
  • Oct 21, 2011 8:05am Oct 21, 2011 8:05am
i think new record low just hit. BOJ is doing a 'great' job.
  • #28,276
  • Oct 21, 2011 8:12am Oct 21, 2011 8:12am
well seems someone gonna have to drill for 74 now,as 75 seems safe
  • #28,277
  • Oct 21, 2011 8:18am Oct 21, 2011 8:18am
WOOOAAAAAH everyone alright over here? new all time low...LOL
  • #28,278
  • Oct 21, 2011 8:21am Oct 21, 2011 8:21am
Quoting western
WOOOAAAAAH everyone alright over here? new all time low...LOL
Nothing to worry about Western ... Boj will step in with force. LOL
  • #28,279
  • Oct 21, 2011 8:21am Oct 21, 2011 8:21am
makes you wonder how this day gonna close :]
  • #28,280
  • Oct 21, 2011 8:22am Oct 21, 2011 8:22am
testing 76 round number.
trade safe
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