USD/JPY Discussion

maybe that is Japan buying other countries' debts?

BOJ on stealth mode need to be slower than usual

it doesn't seem to be sticking

very strange

is Azumi gauging the market slowly?

or is he leaking market moving news

I think the thing missing from these boj interventions is backing up the move with conviction. I mean keeping the level after the move is more important than how much the move. That is what really sets the trend.

BOJ proved it several times they simply can't keep their level.
So next smart thing would be "convincing market" to go in the "right" direction by spiking and triggering SL.

Also there was article (think it was posted in this topic) about BOJ changing tactics.

Hold my Long @ 77.00 currently 20 pips - Breaking Upside Signal @ Daily

any ideas as to why the dollar is gaining such strength?

well if this last move is boj, well done! it looks nothing like an intervention yet it's strong as hell

no boj, just panic in euroland

We're seeing very significant USD strength, as global equities and now NY get dumped into the long weekend. It's a flight to perceived safety into the USD, the nicest house in an ugly neighbourhood. DX obviously is contining it's rocketing as EURUSD, GBPUSD, AUDUSD all take it on the chin. It's quite possible BoJ/Kampo is selling yen as well, to help this perception along. IMO, it would be the best bang for their buck/yen to do so covertly.

short at 77.55

hello
handsome boy

Closed my long last night @ 77.35
UJ getting mess

Trying a long @ 77.03

UJ D1:

Trying long @ 77.10 Sl 76.80 - Risk 0,5% TP : Open

This pair seems to be more talked about than actually moves. I am still amazed by the continued JPY strength where there is a sovereign debt to GDP ratio that even dwarfs that of Greece. I know the arguments that most of this sovereign debt is owned domestically and thus Japan is not reliant upon foreign investors. I also get the argument that Japan does have huge foreign reserves unlike many of the countries involved in the debt crisis. Also I can see the attraction in investing in a currency where there is systemic deflation on the basis that you will get back greater spending power than the original investment. Despite all of these points, I remain skeptical of the safe-haven status. My view of the continued JPY strength is more associated with the need to repatriate funds to prop up and rebuild an economy that has been devastation by the natural disaster in March and make good deficits bought about the slowing world economy. At least Japan is in a position to repatriate it foreign investments. However this will end some day soon and when it does, the JPY should weaken off and maybe head back to the 2008 levels. I myself remain very bullish USD/JPY. It is possibly the one pair that it is relatively low risk to buy USD. Otherwise holding USD does worry me. The spotlight is currently off the USA and firmly focus on Eurozone. However the Eurozone problems are almost a picnic when compared with those in the USA. However both economies have a strength which will allow these problems to be resolved. In my opinion the Eurozone problem are being completely overplayed to achieve greater political integration within the member states. Provided that it does not include Great Britain in further integration, I think it is an excellent idea and should be supported. It would be even better if the UK were to be given a referendum to determine their continued membership of the European Union. Thus going long has considerable merit.

Closed my long for +2 pips
Seems like fall further - wanna see how tokyo react later