commanderco
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rav700 said:
It is a carry trade. ie borrow yen & buy dollar to make the most of the interest difference
after which it feeds upon itself.
If you are joining in as an investor, make certain you are in the 1st lifeboat once it runs out of steam.
FXCM's resident technical "expert" is talking massive gains still to come for the dollar (1.13 for Euro, 1.35 for Swissie, 1.64(??) for Cable) So on that basis, Yen is still in for a shafting.
IMHO, lots of good news coming out of Japan, but it's all being ignored, and another FXCM nugget is their Speculative Sentiment index which has Yen longs at 6x Dollar longs.... and you know that 90% lose in this game. So I guess we won't see any meaningful reversal until the crowd throw the towel in.
Having said all that, corporate activity seemed to suggest 1.15 as a top (again from FXCM's SS index)
Be lucky
IMHO, lots of good news coming out of Japan, but it's all being ignored, and another FXCM nugget is their Speculative Sentiment index which has Yen longs at 6x Dollar longs.... and you know that 90% lose in this game. So I guess we won't see any meaningful reversal until the crowd throw the towel in.
Having said all that, corporate activity seemed to suggest 1.15 as a top (again from FXCM's SS index)
Be lucky
TWI
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All an interest rate play as first reply. Unless Fed hint at a pause then expect it still has some way to go.
Japans economy will actually be fine with Yen weakness as it makes them more competative so there is no reason to think a weak yen is bad for the Nikkei.
Japans economy will actually be fine with Yen weakness as it makes them more competative so there is no reason to think a weak yen is bad for the Nikkei.
rav700
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I am just very doubtful about the yen at the momment, anyone here daytrade the yen at all...
Trade for tommorow I think if the in the overnight session if the yen still is in the same trading range then :
I will go long on the yen at 115.10 with a stop of 114.80 and will aim for atleast 115.45 else
I will go short on the yen at 114.75 with a stop of 115.05 and will aim for atleast 114.45
My Medium term view for the yen till the big fed day is for the the yen to probably attempt to come down to 113 level...only time will tell.
Good luck
Happy trading guys.
Trade for tommorow I think if the in the overnight session if the yen still is in the same trading range then :
I will go long on the yen at 115.10 with a stop of 114.80 and will aim for atleast 115.45 else
I will go short on the yen at 114.75 with a stop of 115.05 and will aim for atleast 114.45
My Medium term view for the yen till the big fed day is for the the yen to probably attempt to come down to 113 level...only time will tell.
Good luck
Happy trading guys.
twalker said:
He does have the nickname "printing press" Bernanke. So expect contraction and expansion (of the money supply) like a women in labour. And yes, it wouldn't be a surprise to see the markets work him over big time during his early days in the job. Next year is going to be really interesting.
115.80.... nearly up to Friday's close... anyone brave enough to long it here ?? Lots of sell options in at 116..... they right or wrong ??
Rhody Trader
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USD/JPY looks to be just at the beginning of a long term uptrend. It's been my experience that when the Bollinger Bands start widening out from a relatively narrow width, the market is in for a significant move. That's what the monthy chart is showing. I think 120 is a chip shot from here. That's resistance from 2002-2003. I wouldn't be surprised to see 130 in the next 18 months or so.
