A great trade indeed! Looks like it’s pausing at 112.00 for now. Think it will reach 115 or even 120 before the end of the year? 
I personally dont see it going that high this year, Forecasting is a kind of pseudo-science anyway. Everything is an educated guess. Maybe 115 but not up to 120. One of the banks cant remember which said 120 by may 2015.
Yes im out of that trade now.
Good call. I remember a while back when the big banks predicted USDCAD range of 1.06 - 1.12. It reached 1.12 and CAD still looked very weak and some were even saying it may reach 1.14 or 1.20 at the end of the year, but somehow, CAD strength emerged and it went right back to 1.06. I mean the big banks sometimes know something we don’t so it may be a similar case that USDJPY would somehow miraculously get back to 105. So I have decided to get out of my Aussie trade too at market open.
Yeah I think that the yen got hammered on friday and rightly so but the weakness will not be too protracted. I know small businesses in japan are angry at the weaker yen so the boj will have to balance it all. Be all things to all people. Then again a lot of people just trade the trend and the recent trend is yen weakness so who knows. Forex is all one big guessing game. One thing the big banks have that we dont is endless liquidity. On the USD/JPY I was in the same exact trade as BNP paribas, they capitulated at 106.5 and lost 1.5% they were targeting 112 they would have got it aswell if they just held. Funny thing is they had one of their guys go on cnn or something and try to say usd/jpy is going up but then the next day they cut their loss.
Good on you for holding. It can be very conflicting following someone else’s advice and not knowing what to do when they decide to pull the plug on a trade early.
Aussie has been tanking like a boss so far. Closing my AUDJPY at market open is now looking like a genius move. Buddy is already down 75 pips!
Good job you did then. Bad news last night for aud with building approvals -11%