…so americans may find it more expensive to travel abroad, not all bad news then lol!
… I mean for your home tourist industry of course.
Wish I would not have closed my short of the USD/JPY on the first page. I would have been golden now. Thats what I get for not trusting my gut.
I don’t think the BOJ is quite done playing with this yet.
The tight trading range is unsettling.
If it decides to drop, they will bump it up without a doubt.
Especially with the dollar slowly strengthening, and Portugal throwing a monkey wrench into carefully laid plans.
Gonna be a firecracker of an end to the week.
I’ve put a buy limit at 80.70 for a laugh. 81.50 I’ve got top of the range.
8 pip range that last Asian session, now that’s tight.
Swissie, 9240 may provide a ceiling or there abouts.
may be true but my statement that the market always bounces back still holds true. it can go where it wants from here. But from what I have seen watching the market with new events if you miss the first spike always play the rebound I have never seen it fail but I am a newb so I will be provin wrong eventually.
Very few things work every time, as long as they work most of the time you will do fine! That said, I am still avoiding the Yen, there are plenty more fish in the sea and BOJ could still spring some surprises.
I think I am with ya. To much risk for my blood although there will be plenty of pips to go around there. There will be plenty of blood being shed on the market.
Yen fell steadily over Asian session after the pair broke above 81.50. Pretty standard set-up which was cheap to enter, could have got away with 20 pip sl. At the moment it’s 81.72, you could already have your stop at break even (+ spread).
Could be thinking longer term with this entry but of course trade plan needs to take into account a potential in increased volatility. The momentum, if any, should be in the trades favor.
That G7 intervention has, imo, been taken seriously for the moment by traders, the dollar is well supported. This may change but that’s trading, calculated risk.
I closed my U/J longs out last night.
Looking for a good place to reload. I’ll sit on my hands for a bit.
It seems to me the safest bet in forex right now. The BOJ has basically thrown down the gauntlet as to where they are not willing to let it go again. Lest you think they will run out of cash, they are MAKING money when the yen drops. More ammo, more intervention. And it was a no brainer trade two weeks ago.
They made it plain they were going to push the yen down.
Quite unlike the E/CH last year. The SNB didn’t have enough in the coffers to support the euro against the franc. I don’t that’s the same situation with the BOJ, and the third largest economy.
…DOH!!
Totally agree with your view on this pair.
Can’t be doing with NFP circus, closed out of trade for 200.
doh!!!