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Crazy YEN

  • Post #1
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  • First Post: Aug 18, 2006 5:54am Aug 18, 2006 5:54am
Many news trader have tried news trading JPY. Several days ago, they have a rate hike and what happened to YEN? They have a good economic news and what happened to YEN? The reactions where either flat or totally opposite.

As I have long said and again repeat, YEN do not react to Japanese news and instead react very well to Chinese News!

Just a while ago, Chinese Central Bank increased Interest Rates and with it, YEN strengthen 60+ pips vs USD.

Go figure.
If you think that's crazy, take a look at E/J
Trust price. Know yourself.
That's spon on!!!!

I learned the hard way. so my advise to traders that are new to JPY is to be very careful when trading on news.
Quoting BurgerKing
Many news trader have tried news trading JPY. Several days ago, they have a rate hike and what happened to YEN? They have a good economic news and what happened to YEN? The reactions where either flat or totally opposite.

As I have long said and again repeat, YEN do not react to Japanese news and instead react very well to Chinese News!

Just a while ago, Chinese Central Bank increased Interest Rates and with it, YEN strengthen 60+ pips vs USD.

Go figure.

By the way, I love you nickname....BUT IT MAKES ME HUNGRY.....
  • Post #5
  • Quote
  • Last Post: Aug 18, 2006 7:07am Aug 18, 2006 7:07am
And of course the Japanese government likes to intervene and suppress the currency. I find it very difficult to trade the JPY pairs. And if I can give any kind of advice, please close you trades over weekends, I’ve seen this one jump far below stops!!!
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