“Japan says to act decisively on excessive forex moves” — Article
I’m countin’ on it;)
so you’re long usd/jpy ? Considering the interventions have failed so far it may be a good idea to wait for the intervention to spike it up then go short.
Yep, wait for it, then sell the hell out of it. Then send the BOJ a Christmas card.
The BOJ said at least as early as Oct 4 that it would intervene and weaken the Yen. Since then, the Yen has strengthened to 75. Does this tell us anything about the government’s ability to control its currency? I have interpreted the Yen’s continuing rise as a sign that the BOJ’s rhetoric is just talk, for whatever reason.
Could care less if it fails long term.
Had a banner day so far. First ever 10% single day gain.
Done for the week, and it ain’t even started yet:D
Here’s the postmortem from DailyFX, posted about half an hour ago —
Forex @ DailyFX - Bank of Japan Steps in and Resurrects Beaten Down US Dollar
After the earthquake, the Yen was aggressively strengthening against the USD. However, during the months after the earthquake, the BOJ interfere in the trading the USD rose, but most of the time the JPY managed to take the price down again. In the recent weeks, due to the general bullish trend of the USD against most of the currencies, we see initial signals that a new uptrend has began in USD/JPY. The most important test for this par will be crossing above 80.0. If it does, many buyers will join the market.
japan is a slow and calm market, but once it gives intervention to the market, it will be the biggest mover…
However, during the months after the earthquake, the BOJ interfere in the trading the USD rose, but most of the time the JPY managed to take the price down again
recently i have heard of japanes market intervention and also vigilance on speculative trading activity. especially eurjpy is dropping everyday. probably they may intervene to bring it up. not sure…keep watching.