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USD/JPY Discussion

  • #28,521
  • Oct 26, 2011 2:27am Oct 26, 2011 2:27am
Quoting 2+2=4ex
Yo duuuuude. Nope, this thing is trending sideways.
what a turd the UJ is
  • #28,522
  • Oct 26, 2011 2:59am Oct 26, 2011 2:59am
Quoting FXMindset
I am feel there is a big seller signal that waiting confirmation from EU summit,look EurChf..Scary pattern,Its seem that this Pair has waiting seller power from EU to bring it down which will bring effects to all Eur Cross and Seems Will be a Big Fall if 1.20 EurChf Big Barrier Break
unlikely to break 1.2 since Swiss bank determine to defend it..
its different stroy to UJ i reckon...

Bank of Japan do not have the power to follow swiss bank's step..
however it wouldnt be a wise decision to take short since intervention threat still alive...as BOJ wants to surprise the market...
Patience, Emotion Control and Discipline.
  • #28,523
  • Oct 26, 2011 3:09am Oct 26, 2011 3:09am
Quoting johncen
unlikely to break 1.2 since Swiss bank determine to defend it..
its different stroy to UJ i reckon...

Bank of Japan do not have the power to follow swiss bank's step..
however it wouldnt be a wise decision to take short since intervention threat still alive...as BOJ wants to surprise the market...
How do you surprise markets when you appear everyday on tv and in newspapers worldwide, screaming that you're about to intervene ?
  • #28,524
  • Oct 26, 2011 3:09am Oct 26, 2011 3:09am
That's what the mind game BOJ's playing... They threatened to intervene so most of the players will be afraid to build short positions in U/J and at different side U/J keep slipping down and down...
  • #28,525
  • Oct 26, 2011 3:11am Oct 26, 2011 3:11am
Quoting johncen
unlikely to break 1.2 since Swiss bank determine to defend it..
its different stroy to UJ i reckon...

Bank of Japan do not have the power to follow swiss bank's step..
however it wouldnt be a wise decision to take short since intervention threat still alive...as BOJ wants to surprise the market...
I trust my chart rather than CB
If there was easy money lying around,no one would be forcing it into your
  • #28,526
  • Oct 26, 2011 3:12am Oct 26, 2011 3:12am
Market is fed up of BOJ

75.74 is under threat... be cautious
  • #28,527
  • Oct 26, 2011 3:22am Oct 26, 2011 3:22am
Quoting SIgurs
How do you surprise markets when you appear everyday on tv and in newspapers worldwide, screaming that you're about to intervene ?
when the market get use to it..
its probably the best timing to surprise everyone..

I am not saying that I expect a intervention or something...
just cautious
Patience, Emotion Control and Discipline.
  • #28,528
  • Oct 26, 2011 3:24am Oct 26, 2011 3:24am
Quoting FXMindset
I trust my chart rather than CB
and your chart very well
Patience, Emotion Control and Discipline.
  • #28,529
  • Oct 26, 2011 3:49am Oct 26, 2011 3:49am
Chances of EU reaching full agreement on how to tackle the debt crisis are slim. What if the markets are disappointed ? All running towards the Yen ? Hope Japanese spokesmen are ready to do another round of verbal tough talk as that will surely weaken the Yen.


Have a tight stop for my long position, don't want to be caught up in a buy the Yen buying frenzy. 1/3 of short position still up and running.



=====
Azumi on Wednesday served dealers another warning after the yen climbed to 75.73 to the dollar in New York the previous day, saying he would not rule out any steps to curb currency speculation and had instructed staff to be prepared for all possible measures on foreign exchange.
He also hinted at possible concerted action with the central bank.
"The BOJ shares our sense of crisis, so I'm sure they will take appropriate steps when necessary," Azumi told reporters.
Expectations of BOJ easing pushed up Japanese government bond prices, while caution over possible currency intervention kept the yen hovering around 76.10 to the dollar in Tokyo.
But analysts doubt whether Tokyo is ready to sell yen at a big enough size to turn the tide.
"Intervention is possible if dollar/yen falls to a new post-war low, but it would be a small amount of money," said Junya Tanase, chief strategist at JPMorgan Chase in Tokyo.
"Japan isn't that willing to conduct intervention because of agreements with the G7. The comments officials are making today are more verbal intervention and may not have much meaning for Japan's currency policy."
  • #28,530
  • Oct 26, 2011 3:55am Oct 26, 2011 3:55am
Quoting SIgurs
Chances of EU reaching full agreement on how to tackle the debt crisis are slim. What if the markets are disappointed ? All running towards the Yen ? Hope Japanese spokesmen are ready to do another round of verbal tough talk as that will surely weaken the Yen.


Have a tight stop for my long position, don't want to be caught up in a buy the Yen buying frenzy. 1/3 of short position still up and running.



=====
Azumi on Wednesday served dealers another warning after the yen climbed to 75.73 to the dollar in New York the previous day, saying...
Go Go cute2 SIgurs ^^
If there was easy money lying around,no one would be forcing it into your
  • #28,531
  • Oct 26, 2011 4:00am Oct 26, 2011 4:00am
Quoting Forexgain
@SIgurs: One more...

26 OCT: FinMin Azumi: Difficult to apply SNB FX step in Japan
Japan cannot peg... its a joke
  • #28,532
  • Oct 26, 2011 4:03am Oct 26, 2011 4:03am
Quoting SIgurs
"Japan isn't that willing to conduct intervention because of agreements with the G7. The comments officials are making today are more verbal intervention and may not have much meaning for Japan's currency policy."
This is where Azumi (and Japan) need to grow a spine and do what they have to do to protect their own exporters, and therefore their economic recovery. Instead of trying to please Uncle Sam, and the G7........neither of which are suffering the problem that Japan has and so, to a large extent, don't care......Japan should intervene on a massive scale and if those others get upset.....well....tuff shit.....suck it up!!!

Japan has the resources to intervene massively, but they won't do it for fear of pissing off Uncle Sam and the G7. Well......either grow a backbone, or sink.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #28,533
  • Oct 26, 2011 4:08am Oct 26, 2011 4:08am
Previous intervention of 800B$ went into traders pocket....

Also requires co-ordinated plaza accord type of action from all central banks.... for it to work...

SNB will learn their lesson shortly.... drawing a line in sand makes it is much more easy for market to adapt to it and break it....
  • #28,534
  • Oct 26, 2011 4:14am Oct 26, 2011 4:14am
Quoting ultra_knight
Previous intervention of 800B$ went into traders pocket....

Also requires co-ordinated plaza accord type of action from all central banks.... for it to work...

SNB will learn their lesson shortly.... drawing a line in sand makes it is much more easy for market to adapt to it and break it....
Japan has more money to throw at this that the SNB can even dream about. Previous interventions by Noda were all 'one off' events. There were many, many opportunities to capitalise on naturally weakening Yen by pushing it further with a shot of Yen selling, and to keep doing it. But they (Noda) chose to do the 'one hit wonder' thing, which clearly won't work. It worked after the Kobe earthquake, and they seemed to think it would work again. They were mistaken.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #28,535
  • Oct 26, 2011 5:00am Oct 26, 2011 5:00am
Also put 1 lottery long buy 75.91 TP 79.50
Once scalper always scalper
  • #28,536
  • Oct 26, 2011 5:04am Oct 26, 2011 5:04am
New low 75.7
  • #28,537
  • Oct 26, 2011 5:05am Oct 26, 2011 5:05am
new low 75.69.....
Patience, Emotion Control and Discipline.
  • #28,538
  • Oct 26, 2011 5:08am Oct 26, 2011 5:08am
Not yet would be more lower or maybe another final strike lower
am sidelines for UJ now,avoiding spikes down - expect un expected
If there was easy money lying around,no one would be forcing it into your
  • #28,539
  • Oct 26, 2011 5:11am Oct 26, 2011 5:11am
Quoting FXMindset
Not yet would be more lower or maybe another final strike lower
am sidelines for UJ now,avoiding spikes down - expect un expected
Good thinking

I've sidelined on this pair for quite a while now......easier money to be made on other pairs at the moment
Doing what you like is Freedom. Liking what you do is Happiness.
  • #28,540
  • Oct 26, 2011 5:11am Oct 26, 2011 5:11am
Quoting FXMindset
Not yet would be more lower or maybe another final strike lower
am sidelines for UJ now,avoiding spikes down - expect un expected
Today last day BOJ react. Because tomorrow all exporters go bust
Once scalper always scalper
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