Closed long above 79.90 and waiting for some small retracment from here to go long again. If not, will do it above 80.00
Many green pips all!!
Many green pips all!!
- #30,945
- May 22, 2012 9:27am May 22, 2012 9:27am
Hey guys, I'm still trying to wrap my head around how the USD/JPY moves so I could really use some feedback here. We know that the main "risk off" currencies that offer liquidity are the US Dollar and the Japanese Yen. Investors/fund managers move their money into either the dollar or the yen for a variety of reasons, one of them being expected return. Now, since Fitch downgraded Japan's sovereign-credit rating to A+, and increasing rhetoric out of Japan's finance ministry seeming to signal currency intervention, how does that impact the flow...
- #30,946
- May 22, 2012 9:41am May 22, 2012 9:41am
all i watch when trading yen is the bond market...it is way overbought, almost building a bubble, a correction is needed which pushes usdjpy up ..just my 2 pips
- #30,948
- May 22, 2012 10:04am May 22, 2012 10:04am
Can you please be specific? Are you looking at US 10 year treasury notes? Shorter term bonds? Japanese government bonds? Doesn't the expected depreciation of the Yen mean that Japanese bonds will be worth less in the future?
they are all heavily negative correlated to yen, when they get up yen get's stronger
look at the extreme moves of ZNM2 and ZBM2 daily..they have probably finished wave 3 or 5 and are now in a wave 4 or A correction which could stay the whole week
i am sure it will revisit the 132.1 area as resistance usually becomes support later
Fundaments are good for cheers.
- #30,959
- May 26, 2012 8:14am May 26, 2012 8:14am
- Joined Jun 2010 | Status: zero | 20,603 Posts
hey, good count 