Attachments: USD/JPY Discussion

USD/JPY Discussion

#29,761
Jan 26, 2012 8:11pm Jan 26, 2012 8:11pm

emphyze
| Joined Apr 2009 | Status: Trader | 9 Posts

yeah... what in the world just happened to the yen?

#29,762
Jan 26, 2012 8:12pm Jan 26, 2012 8:12pm

the redlion
Joined Jan 2011 | Status: Trader | 2,680 Posts

Quoting Fidza

Disliked

Whats with the sudden movement in the Yen pairs.

E/U , U/CHF are static yet U/J and E/J have gone spiraling down ???

Ignored

they are going to front run the BOJ

BOJ to devalue yen, PM stated the BOJ will take "BOLD" action to combat the strength of the yen

AVT INVENIAM VIAM AVT FACIAM

#29,763
Jan 26, 2012 8:12pm Jan 26, 2012 8:12pm

the redlion
Joined Jan 2011 | Status: Trader | 2,680 Posts

big money is driving the yen strength to front run the devaluation

AVT INVENIAM VIAM AVT FACIAM

#29,764
Jan 26, 2012 8:17pm Jan 26, 2012 8:17pm

Fidza
| Joined Nov 2011 | Status: Trader | 382 Posts

Quoting the redlion

Disliked

they are going to front run the BOJ

BOJ to devalue yen, PM stated the BOJ will take "BOLD" action to combat the strength of the yen

Ignored

Thanks , makes sense, think best wait to see if it settles somewhere lower before setting up any longs, but its looking very tempting right now to set up a long term long.

Officer ... I swear to drunk I am not God

#29,765
Jan 26, 2012 8:21pm Jan 26, 2012 8:21pm

the redlion
Joined Jan 2011 | Status: Trader | 2,680 Posts

im taking small longs as it reaches good levels i am in profit in one of them at the moment but it could be a long wait till the BOJ acts, maybe this pair will go lower in anticipation.

but as we saw for he first time in 30+ years the Japan had a trade deficit and mostly is due to the strength of the currency, the disaster post tsunami so i believe this is not a bluff, the thing is when and how much leverage to use

so i am taking small longs as it falls,to have a good risk parameter and not be over exposed

AVT INVENIAM VIAM AVT FACIAM

#29,766
Jan 26, 2012 8:26pm Jan 26, 2012 8:26pm

Fidza
| Joined Nov 2011 | Status: Trader | 382 Posts

Quoting the redlion

Disliked

im taking small longs as it reaches good levels i am in profit in one of them at the moment but it could be a long wait till the BOJ acts, maybe this pair will go lower in anticipation.

but as we saw for he first time in 30+ years the Japan had a trade deficit and mostly is due to the strength of the currency, the disaster post tsunami so i believe this is not a bluff, the thing is when and how much leverage to use

so i am taking small longs as it falls,to have a good risk parameter and not be over exposed

Ignored

Yeah I am thinking to do the same, someone is really poking Mr. Azumi , lets hope he does deliver this time.

Officer ... I swear to drunk I am not God

#29,767
Jan 26, 2012 8:28pm Jan 26, 2012 8:28pm

krunfx
Joined Jun 2009 | Status: Carry Trader that not want interest | 2,016 Posts

Just to remind....yentervention should be resurface again if we see excessive move on yen continue..

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Bismillah

#29,768
Jan 26, 2012 8:29pm Jan 26, 2012 8:29pm

Fidza
| Joined Nov 2011 | Status: Trader | 382 Posts

Earthquake again ??? Poor people hope its not anything massive like last

Officer ... I swear to drunk I am not God

#29,769
Jan 26, 2012 8:33pm Jan 26, 2012 8:33pm

the redlion
Joined Jan 2011 | Status: Trader | 2,680 Posts

5.1 off the coast of chiba

AVT INVENIAM VIAM AVT FACIAM

#29,770
Jan 26, 2012 8:41pm Jan 26, 2012 8:41pm

Fidza
| Joined Nov 2011 | Status: Trader | 382 Posts

Quoting the redlion

Disliked

5.1 off the coast of chiba

Ignored

Hmm its a question of how much damage has been done , and what the aftershocks will do , if its bad and there is mass repatriation of funds again as last time this pair is going a lot further down, going to wait this one out for further news and aftershocks.

Officer ... I swear to drunk I am not God

#29,771
Jan 26, 2012 8:42pm Jan 26, 2012 8:42pm

krunfx
Joined Jun 2009 | Status: Carry Trader that not want interest | 2,016 Posts

Quoting the redlion

Disliked

5.1 off the coast of chiba

Ignored

yes
EARTHQUAKE SHAKES BUILDINGS IN TOKYO -Bloomberg via

Bismillah

#29,772
Jan 26, 2012 9:41pm Jan 26, 2012 9:41pm

Sarkel
| Joined Jan 2012 | Status: Trader | 156 Posts

Doesn't look like the earthquake has THAT much effect on the USDJPY price.
Seems that 77.00 level is a safe buy zone

True knowledge is knowing that you know nothing. Socrates.

#29,773
Jan 26, 2012 10:26pm Jan 26, 2012 10:26pm

krunfx
Joined Jun 2009 | Status: Carry Trader that not want interest | 2,016 Posts

Quoting Sarkel

Disliked

Doesn't look like the earthquake has THAT much effect on the USDJPY price.
Seems that 77.00 level is a safe buy zone

Ignored

huhu..is hard to say now...jus ttrade yentervention

Bismillah

#29,774
Jan 26, 2012 10:29pm Jan 26, 2012 10:29pm

Mpt
Joined Nov 2009 | Status: Trader | 2,582 Posts

Notice how the long term, much revered TL offered little or no resistance on the way up, and only passing support on the way down again. Methinks it no longer has any significance.

Retracement went past the fib 76 level, possibly as a wave 4. Having made such a deep retracement, any up move should only make a double top at best. And, arriving at the top line within the next few hours is its big friend the Daily 200SMA.

Attached Image (click to enlarge)