USD/JPY run up... last till?

[littlemog]

Hi experienced FX pipers,

I saw the run up today on the dollar.... it seems overheated at the moment, though on the side of economics Japan is set for a dark swim. Some say 98 in the few days ahead... anyone wish to have a say on where this might be headed?

 

[tornhill]

strange movements in the yen pairs in the last days, the stock markets tanked, at the same time eurjpy exploded. i read a rumor that the boj had intervened. this strong yen is extremely bad for export oriented japan.

anyhow, i was very happy to be in a eurjpy long position today, my trade of the year so far.

 

[littlemog]

congrats friend... yea, it's been funny of late. I wonder if it will stabilize today... perhaps dip a little.

 

[JRP2891]

It will need to consolidate at these higher levels, i'm expecting a small down day today compared to the recent up days of the last week.

 

[VANTERHEYDEN]

current 97.70 ---

RSI is way over bought on every chart you look at --- This has gone way too high ---

look for USD/JPY to give back over half its gains in the coming days.

 

[JRP2891]

current 97.70 ---

RSI is way over bought on every chart you look at --- This has gone way too high ---

look for USD/JPY to give back over half its gains in the coming days.

Why don't you sell it now then, you'll make over 500 pips

It's up there for a reason, have you picked up a newspaper in the last two weeks?

 

[Pippy5000]

He said "its" not "his" .. Go play with your MySpace page for a while kid..

 

[JRP2891]

He said "its" not "his" .. Go play with your MySpace page for a while kid..

My reference was to him making such a stupid statement saying it's gone too far due to indicators saying it has, with no appreciation for why dollar/yen is up there. Hence why i said, why don't you short it if you're so confident in making such a prediction. Not that hard to understand was it?

 

[_JWG_]

I'm looking to short. I expect price to run out of puff as it approaches 100. When this is confirmed I will sell. This big run-up is making me even more excited about the possible shorting opportunity.

 

[Martinghoul]

Japan is in BIIIIG trouble... Fundamentally, in the medium term, this baby has nowhere to go but up.

 

[VANTERHEYDEN]

Japan is in BIIIIG trouble... Fundamentally, in the medium term, this baby has nowhere to go but up.

Your Statement implied the USA isn't fundamentally in trouble - The USA is in a far worse state. And it looks like to the USD/YEN raly ran out just before the weekend. Directionless today as it bobbed just above 97

But I'm look for it to push lower once again

 

[jeffsmith]

Have a look to the current level of the currency pair.
Resistances
98,70 - 99,00

Supports
98,00 - 97,00