Dollar Yen where's it gonna base??

[scose-no-doubt]

Intervention, new homes sales and bernanke today. Bit too rich for my blood I'm on the sidelines. Got a few demo trades running in stocks and bunds to take the edge off. See how they play out through the day.

 

[jon1971]

Sensible, may see some fireworks tonight then, usually happens when Big Ben opens his cake-hole...

 

[JRP2891]

Focussing on Swissie this morning, possible testing for a bottom, supply has been pretty thin last hour or so... BUT I COULD BE WRONG!

Would the SNB intervene now after seeing the market go through the pre-intervention levels on u/j? I would guess it's less likely now...

 

[jon1971]

Would the SNB intervene now after seeing the market go through the pre-intervention levels on u/j? I would guess it's less likely now...

CHF doing a market shake out I reckon, I'm already in, so could be a crap end to the week...

The Yen has already taken out this mornings move...

 

[JRP2891]

CHF doing a market shake out I reckon, I'm already in, so could be a crap end to the week...

The Yen has already taken out this mornings move...

87% of retail are long usd/chf which is an encouraging figure for shorts. I've been selling usd/jpy, and usd/chf for the last 2/3 months, and personally i don't see any reason to stop now.

 

[jon1971]

87% of retail are long usd/chf which is an encouraging figure for shorts. I've been selling usd/jpy, and usd/chf for the last 2/3 months, and personally i don't see any reason to stop now.

Those retailers must have deep pockets, having said that, I think you may be right...

What's the URL for the sentiment index that you use?

 

[JRP2891]

Those retailers must have deep pockets, having said that, I think you may be right...

What's the URL for the sentiment index that you use?

It was actually on an earlier page on this thread:

http://www.dailyfx.com/technical_analysis/sentiment/?technicalSentiment=USD/CHF

 

[jon1971]

It was actually on an earlier page on this thread:

http://www.dailyfx.com/technical_analysis/sentiment/?technicalSentiment=USD/CHF

Thanks...

 

[JRP2891]

No problemo.

 

[jon1971]

Phew, out with some pips in the bag, but hardly worth all the sweating - a terrible trade, I need to learn to take my medicine!

 

[scose-no-doubt]

place your bets

 

[scose-no-doubt]

:|

 

[scose-no-doubt]

Why so low people? Any ideas?

 

[meanreversion]

$jpy? I reckon it wants to be at 75, it's only the BOJ standing in the way.

 

[jon1971]

For all Noda's tough talking last night, still no sign of them..

 

[meanreversion]

They're just waiting until people are properly short before having a go.

 

[scose-no-doubt]

pretty tight range in past couple hours. like that all over though i suppose.

 

[jon1971]

strange that yesterday it barely moved, yet every other major usd cross sold off around 100 pips...

 

[scose-no-doubt]

Yeh but %age wise ¥ has moved quite a bit since the rate decision

 

[jon1971]

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...