USDJPY weakness

It looks like the BOJ made an aggressive intervention and sold trillions of Yens. Otherwise, how can you explain this amazing jumping? I think that the USD/JPY is going to 80.0.
 
They announced some QE and an inflation target, we know that.

Maybe they have been doing some more stealth intervention in addition. There certainly hasn't been anything like the last few sledgehammer interventions which cost them about $50 Billion each time ( I think it was $50Bn anyways, it was something crazy).
 
Last edited:
The massive selling of the Yen continued last week and the pair broke all of the important resistances it had on the daily chart. The weekly charts showed the aggressive bullish session that started two weeks ago, and if the pair successfully breaks-through the psychological level at 80.0, it might continue to 82.50. Nevertheless, it is important to understand that the pair is clearly overbought and the chances for correction are increasing every day the USD continues rising.
I guess we should keep looking for a wise entry points in the Yen's pairs, if it continues the negative momentum.
usdjpy2002.jpg
 
''UBS says sees weaker JPY against both USD and EUR for the end of 2012 and 2013''

''USD/JPY at 85.00 by end of 2012, 90.00 by end of 2013''
 
''Japan deputy PM Okada says wants BoJ to consider various montary policy steps if necessary''
 
''Japan ruling party lawmaker says very concerned about competitive easing by US, Europe and Japan''

You should be pal.
 
trader_dante said:
I think you will get some offers coming in on any rallies into 76.90 but not sure how long they'll hold it. You might get a deeper retracement against last weeks sell off so I'm not convinced enough to short it here. I'll probably give it a go short on a break and retest of the 76.50 support, targeting the all time lows but I don't think its going to be an easy trade. The movement was ultra sluggish last time we traded here. May have been the BoJ sitting on the bid to slow the decline and absorb a lot of the offers. I'll definetly look for a flush through the all time lows to get long.

The real story right now is Eur/CHF if we are talking intervention but maybe that's for another thread :)
Click to expand...

Wow, Thanks for sharing this and i really appreciate this i learned here. :)
 
JPY pairs moved more than than .5% overnight. It looks like the BoJ is in there to me.

I think they mean business this time. We shall see though.
 
CFTC- Net JPY long position decreases 42% to USD 2.7bn.

USD/JPY is up more than 1.5% today.
 
''BoJ's Shirakawa says BoJ will pursue strong monetary easing''

And people wonder why every single fiat currency fails.
 
''The BoJ's Shirakawa has said CPI is expected to gradually rise through 2012 and 2013. The central banker has said Japan will continue with easy monetary policy until prices are rising by 1%.''
 
Read in an rticle the other day that if the interest rate the Jap government pays increases from the current 1% average to 2%, the interest payments will be larger than the entire tax take.
 
You must log in or register to reply here.

Similar threads

Walid Salah Eldin
The interest rate outlook differential could boost demand for USDJPY
Replies
0
Views
1K
Walid Salah Eldin
Walid Salah Eldin
Walid Salah Eldin
After BOJ meeting, the interest rate outlook is still boosting USDJPY
Replies
0
Views
1K
Walid Salah Eldin
Walid Salah Eldin
MahiFX
JPY Rally Likely to be Short-Lived
Replies
0
Views
2K
MahiFX
MahiFX
J
Japanese Yen Jumps on Possible Intervention
Replies
1
Views
540
Zerologic
Zerologic
M
Daily analysis
Replies
14
Views
3K
Tarhini_Trade
T
Top