japan CPI

im looking to go short USDJPY on a stronger than expected CPI. the yen has been weak lately, so if we get a strong CPI it should trap a lot of people in thier yen shorts.

if we get a weaker than expected number, and the USDJPY spikes up, im looking to play a reversal on that spike, when the price starts reversing as people take profits.

For those that care to trade the Asian news here are the Fundamental levels to help you decide when to get out when the momentum settles...

USD/YEN
Offers: 116.60/00
Stops Above 116.70
Bids: 116.00 (148.50 EUR/JPY)
Current Level 116.43 Resting lower 18/28 combo tunnel 15 min chart
Potential stalls of counter currency::
Eur/USD Bids: 1.2750/55 Stops Below
Further Demand 1.2720/10
Offers: 1.2840/60
Current Level 1.2759 condition sideways Resting under 21 SMA 15 min chart
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I traded the release. I read on trade the news that they heard unoffical reports that the data would be weaker than expected.


- "Some details of tonight's release were leaked earlier this week. These reports have been unconfirmed. 8/21 (JP) Japanese Official: CPI could be revised down more than forecasted (Official not identified, seems to be a leak to a newswire)......." (From Trade the News)


So I went long before the news (Thinking the Yen would weak against the dollar) and managed to gain 7 pips.

Went long @ 116.49
Sold @ 116.56

+7 pips ($6.01)

Not too big a spike, but I'll take it.

another hum-drum JPY release.........what a suprise!!! I don't trade Yen in general, but I would go short if I did at 116.46 for the remainder of the Asian session........

What a dud of a news release LOL. Typical with JPY pairs. Looks like only GBP, USD and EURO and CAD news move the market the rest only move the market if its interest rate related.

Boy that was worth waiting for..............

That's why you don't trade Japanese releases. They suck because news gets leaked all the time and it just causes the price to move all weird.

I stay out of JPY news events. It's just not worth it.

yeah no trade on that one. we need a good word for moves like that. it moves, but not in a tradable way...

HMMM.... 1st time to trade JPY Exit with (-4)... as BurgerKing Said JPY news cant be traded !

yet it's funny how all of us gather around the camp fire and watch is smolder and eventually go out......

FX junkies we must be!!!

damn we have 48 people browsing the news forum!

Hummm I'm looking at the numbers on the FF cal for the JPY CPI news and they seem to be off. Can someone check this, I would hate for trader to see the wrong numbers.

We LOVE FF

If you care to take note the bid offer levels I produced prior to data release gave a good indiation of a limited thrust up momentum unless the data would have been way of spec the stop level of 116.70 did not get hit thus limiting the immediate up, along with the heavy offer layer to 117.00 hope you all got back in to the upside after the floor was reestablised within first 15 min..


she's running thea retest of the stop again right now 116.70

looks right to me, but tell me if you see something wrong...

http://www.stat.go.jp/english/data/cpi/1581.htm

My apologies Merlin for a double thread I did not look outside the discussion thread as I had been so used to posting on that frame only..

not a problem buddy! we just started this new forum today so i expected a few confusions!

Be Careful Fellow Traders Usd/jpy Has Entered The Layered Offers Area Up To 117.00 Not So Convinced The 116.70 Stop Was More Bullish That The Bear On His Shoulders..

15 Minute Chart

HEEEEEEELP!

I missed the news!
In FF I set the GMT+2 (my time) and it said the JPY news come out at 1:30AM, now, I see it ACTUALLY happened at 1:30AM GMT+1...

I am so lost with all those GMTs and stuff... Anyone...
I know for sure that I AM GMT+2, now, how sould I read times at FF?

Anyone?