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USD/JPY Discussion

  • #28,821
  • Oct 30, 2011 9:34pm Oct 30, 2011 9:34pm
80.00 here we come, watch out for the fading
  • #28,822
  • Oct 30, 2011 9:34pm Oct 30, 2011 9:34pm
usd strength across the board, this wasn't so in september'10 or aug'11.. i was short aussie and cable before boj started.. cable tp 100p just hit, ozzy uj running now that's really wild hope everyone's doin' good!!!
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  • #28,823
  • Oct 30, 2011 9:34pm Oct 30, 2011 9:34pm
Azumi said the intervention was undertaken by Japan alone. He would not comment on amounts but dealers said the initial wave of selling was nearly Y3 trillion or 40 billion USD
  • #28,824
  • Oct 30, 2011 9:36pm Oct 30, 2011 9:36pm
Quoting Warwick
Im out all...

(This move will not be without reprieve..... look at the bigger picture guys - think carefully before you place large U/J buy orders)
I'm on the short side (yet again). Was able to take off the previous shorts for +100pips but didn't ride it back up. Back short again for the dust to settle.
check out my blog: forexmademillionaire dot com
  • #28,825
  • Oct 30, 2011 9:37pm Oct 30, 2011 9:37pm
Quoting matt9824
Do you think she is going higher later in the day?
I'm not sure about anyone else. I don't think it's gonna break my resistance trendline. so I'm short now.
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  • #28,826
  • Oct 30, 2011 9:40pm Oct 30, 2011 9:40pm
Quoting Wulfgar
Has this thing broke 78 or 75 yet??

No... ok... back to hibernation

Fine fine... I'm long at 78.05... Targeting a retest of 80.24 before looking to short again..
  • #28,827
  • Oct 30, 2011 9:44pm Oct 30, 2011 9:44pm
Quoting fatpanda
8 lots long
wahaha
lol
Patience, Emotion Control and Discipline.
  • #28,828
  • Oct 30, 2011 9:46pm Oct 30, 2011 9:46pm
will japan leave the intervention without support it?

I think this time they will support, because in my view if Mr. yen see 78 again the next resistant maybe 70 or 60 even 50
  • #28,829
  • Oct 30, 2011 9:46pm Oct 30, 2011 9:46pm
Quoting Geppy
I'm on the short side (yet again). Was able to take off the previous shorts for +100pips but didn't ride it back up. Back short again for the dust to settle.
Nice, well im out of my position. Will re-enter on a breach of 84.13 although I may revise it to 84.68-71

We'll see.

Edit: The latter it is.
  • #28,830
  • Oct 30, 2011 9:48pm Oct 30, 2011 9:48pm
Oh well aint that just dandy. I got stopped out on my long entries on the way up. All of them. BLEUGH.

Managing to ride the fades and moves now so at least up for the day.
  • #28,831
  • Oct 30, 2011 10:03pm Oct 30, 2011 10:03pm
Quoting Wolfin2010
I'm not sure about anyone else. I don't think it's gonna break my resistance trendline. so I'm short now.
Only short after market balanced or short it with small target or floating
  • #28,832
  • Oct 30, 2011 10:05pm Oct 30, 2011 10:05pm
looks like BOJ didnt want to push it up so high up this time. adapting swiss strategy ?
  • #28,833
  • Oct 30, 2011 10:09pm Oct 30, 2011 10:09pm
didn't they peg it?
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  • #28,834
  • Oct 30, 2011 10:09pm Oct 30, 2011 10:09pm
Yunosuke Ikeda, senior FX strategist at Nomura Securities, said last week's central bank easing and Monday's intervention could be an effective combination.

"It was very good timing. The BOJ has prepared the ground by easing last week. Speculators' yen-buying position has piled up, and intervention is most effective in such cases," Ikeda said.
"This will likely be one-off intervention, but I think the government wants to stop the yen's strength, which is out of sync with gradually improving global economic fundamentals.
"The dollar/yen will unlikely fall back to the record low hit earlier today for some time."
  • #28,835
  • Oct 30, 2011 10:09pm Oct 30, 2011 10:09pm
Quoting tankokjian
looks like BOJ didnt want to push it up so high up this time. adapting swiss strategy ?
Or are they just taking a breather? I would have thought it rather pointless to just go this high, knowing it will be pushed back down straight away.....
  • #28,836
  • Oct 30, 2011 10:09pm Oct 30, 2011 10:09pm
Quoting Geppy
I'm on the short side (yet again). Was able to take off the previous shorts for +100pips but didn't ride it back up. Back short again for the dust to settle.
I love how everyone rides the free money train and braggs about how they r godly traders! Lol. Then they think they know the next move is a short. If u turds knew better and read some news, u would know they r pegging the SOB. I tell ya! F' in retailers, r just a bunch of monkeys!
Don't be fooled by randomness
  • #28,837
  • Oct 30, 2011 10:10pm Oct 30, 2011 10:10pm
Last Year Oct31/Nov1, BOJ intervened.

Today Oct30/Oct31 , BOJ intervened again.

Hmm End Oct intervention pattern next year again?

honestly, speculators are NET SHORT JPY. It is not speculators thats driving JPY pairs down, but rather the humongous japanese overseas companies repatriating real money back home.

So, for BOJ to intervene is to cuss and fuss at Jap companies : "WTF its your fault JPY is strong"
  • #28,838
  • Oct 30, 2011 10:12pm Oct 30, 2011 10:12pm
Well, isn't this a treat - they are flat-lining it --- trying to act all fancy shmancy like the SNB ... hmmmm ... BoJ's never done this one in an intervention (of the past few years).

They've apparently thrown $40B at it so far - this is now interesting: they have gotten a pip move out of this Asian session, equal to what they have moved it in all 3 sessions, during past interventions. Could they be done? I don't think so: they were quite unhappy with 79 as a rate when it got there ... odds are they will push it above 80 ... now, lemme do some math ... they have hundreds of billions in the intervention-chest, this cost 'em $40B, if they hit it with another whack of similar size during pre-London and pre-NY ... 85? Nah .... but, you never know ... I have cashed out of most scalp longs, but remain in with various 350+ pippers ... time to set some alarms and catch some shut-eye, err., get the same "benefit" that SIgurs has ben having for a few hours now!
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  • #28,839
  • Oct 30, 2011 10:33pm Oct 30, 2011 10:33pm
Quoting Beljevina
Well, isn't this a treat - they are flat-lining it --- trying to act all fancy shmancy like the SNB ... hmmmm ... BoJ's never done this one in an intervention (of the past few years).

They've apparently thrown $40B at it so far - this is now interesting: they have gotten a pip move out of this Asian session, equal to what they have moved it in all 3 sessions, during past interventions. Could they be done? I don't think so: they were quite unhappy with 79 as a rate when it got there ... odds are they will push it above 80 ... now, lemme do some...
Apparently they are filling an order at 79.20 and its big. I agree with you about the number target being above 80. It makes no sense to stop here especially when they are printing the money to intervene with. A lot of funds and traders are going to be killed on this move. Watch for liquidation in other pairs to cover losses on the uj trade. Good luck everyone and be smart.
  • #28,840
  • Oct 30, 2011 10:39pm Oct 30, 2011 10:39pm
Christmas has come early for me.
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