Dollar Yen where's it gonna base??

[scose-no-doubt]

yeh i thought yen was gonna spin round straight away tbh

think I'll be awake on sunday night

see ya

 

[JRP2891]

0% effectively and the threat of intervention, yet the market just keeps pushing...

G7 this weekend, USD is well overdue a shift in sentiment. All of this dollar weakness has been on the back of QE2, it really wouldn't surprise me if they do a complete 180 on it...

Why swim against the tide?

 

[scose-no-doubt]

8180ish to hold?

 

[JRP2891]

8180ish to hold?

Who knows...however the trend is still down.

 

[meanreversion]

You've got to look for rallies to sell $JPY. I think it might reach 75 in the next couple of months.

 

[JRP2891]

You've got to look for rallies to sell $JPY. I think it might reach 75 in the next couple of months.

Or sell lows with guaranteed stops, but hoping for intervention isn't a strategy.

 

[meanreversion]

No, I can tell you from experience this (hoping for intervention) doesn't work. They are far too clever for that, the aim is that speculators do not make quick gains.

 

[scose-no-doubt]

I got whacked out of many a chf trade on the intervention hype. Didn't really understand it at the time.

 

[JRP2891]

No, I can tell you from experience this (hoping for intervention) doesn't work. They are far too clever for that, the aim is that speculators do not make quick gains.

They've slowed it down for sure, however ultimately it will be a futile mission medium term.

As a much admired trader of mine says, the cure for a low price is a low price, and the cure for a high price is a high price. Perhaps the BOJ/MOF could do well to remember that while saving themselves a few Yen in the process.

 

[scose-no-doubt]

Noda keeping schtum.

 

[The Baptist]

It will base in 3 years at 45 yen level, every thing else upside will merely be periodic countertrend imv

 

[scose-no-doubt]

noda?

 

[scose-no-doubt]

how is this related to the auction clever cloggses?

 

[scose-no-doubt]

wats goin on then?