Yen is getting shorted like crazy, USDJPY up 100pips in less than 10 minutes…
any thoughts?
Was wondering what was going on lol. Good thing I closed my GBPJPY and USDJPY shorts earlier today… Guess that’s why you always use a stoploss.
By travpip at 2010-09-14
might of been some news we dont know of yet…happened right on the half hour…could be BOJ…
From over on the ForexLive web site
[I]Noda confirms intervention by BoJ
Written by Sean Lee
September 15, 2010 at 01:55 GMT [/I]
“The BoJ were asked by the finance ministry to intervene at 10:30 Tokyo time”
This is most definitely an intervention, and it’s beautiful! I was actually staring at my chart just as the clock struck 9:30 EST. This is good because I just placed an entry order @ 82.99 with a tp @ 84.00…as I’m typing I suddenly realize that it’s rising like a firework snake so I’m adjusting the tp for 85.00! :eek: I dunno what to do, perhaps I should do a trailing stop too?!
Nice… good for you!!! 
thanks for the confirmation information, anyone trade with the momo?
dial down to the 1 min and throw a EMA on your chart, and trade the mov. avg. tests with the order flow. thank-you BoJ!
If you get a chance take a look over on the ForexLive web site, they just posted some interesting info re usd/jpy
looks 85.00 might be a go!
You guys witnessed it (to a stunning degree, might I add). All of the naysayers who suggest the market is random walk or efficient have not taken a look at the nearly 160+ pip run in 45 minutes.
Holy mackerel! That was, hands down, the [I]fastest[/I] 201 pips that I’ve ever gotten! 
It’s events such as this (albeit very rare) and other volatile fundamental events such as NFP and The Fed Chairman’s speech that make the Forex market such an exciting trading environment! Alas, it’s just demo money :(. Nonetheless, it’s trades like this that make me highly anticipate the day that I will finally go live (October 1st)
.
The EURJPY too…wow!!! 269 pips in what…4 hrs :eek:
Unfortunately I was helping someone pack stuff 
I respectfully thank the Bank of Japan for their [I]substantial[/I] contribution to my retirement fund.
lol nice one nb. I was basically watching it move another 50 pips on the sidelines as i had no rules for entries on that massive break out!
Hello, there was a lot of talk about BoJ intervention before. Some people said that BoJ won’t intervene without the help of Europe or USA; others said that the time is not right, in 2004 the global economy was stronger. On the other side there were statements like BoJ gets what it wants, Japan is doomed without intervention and so on.
Now that the event finally happened what can we expect? Again same conflicting ideas like before and from newbie perspective it’s hard to get your opinion of possibilities. What are goals of BoJ? To push yen up or to stop appreciation? If so how far can BoJ go? Maybe some one with experience can help clear things up? Or maybe this is too complicated to begin with there are better ways of getting “the picture” of yen movement?
I caught some of the speculation by accident last week.There was a meeting in Japan and when the minutes were released and no sign of intervention it dropped 60 points in a matter of minutes.I was on the right side of that trade and caught a divergence not knowing they were speculating on the news release.
My favorite Forex girl (Kathy Lien) warned on the Bussiness News Network this yesterday morning about going short She said if it got below 83.00 there was nothing to stop it to go to 79.00 a 15 year low, than all sorts of warning bells would go off.Iam happy for you who caught the move.
Great point This Barb, there was nothing random about that move!
so would anyone think about shorting U/J around 85.70 ?
???.. :eek:
FROM the web site, ForexLive.com
Nikkei: Japan bought over $20 bln in London and NY
Written by Jamie Coleman
September 15, 2010 at 19:18 GMT
We had earlier heard estimates that the total amount of intervention today had exceeded $20 bln. The Nikkei now reports that the BOJ/MOF spent that amount in London and New York, not counting Tokyo. They are expected to continue buying dollars in the coming days, the paper reports.
USD/JPY continues to change hands in the low 85.60s with Japanese exporters seen as the main USD sellers.
Hedge funds have been quite long of USD/JPY (particularly Soros, from what we hear), so they may be taking some profits as well…
Ah… so you’re going to buy if you haven’t already?
Better not go short unless you are scalping! It seems they continue to buy USD to keep at least 85.00, and I just go this info on the radio, they are aiming at 90.00!
I am definitely going to go long on USD/JPY again tonight, along with Guppy, and aiming for a tp of 90.00 and 137.00, respectively. If somehow there is some retracement, I’ve put in entry orders @ 85.00 and 132.90 to stack. If the BoJ is aiming for 90, then it will definitely happen, I mean, what reason would the majority of traders at this stage have to short it? It’s already stated that BoJ will pour billions of more currency into the market in the coming days, and I’m sure they won’t stop until their target is reached. It’s obvious that the current trend is upwards, so everyone’s speculation will turn into a self-fulfilling prophecy. Therefore, as the saying goes, “the trend is your friend”, so follow it!