USD/JPY

[rthakkar]

Re: USDJPY

Plenty of action left Cannie.

SP Futs have gone limit down.

Going to be an interesting night

Totally agree. It is going to be an interesting night tonite.

Honestly, I really want the market to find a bottom tonite. Enough of 500 points swing on DOW. Lets get over it once and for all, break the circuit, close at a double digit percentage loss so buyers gets some confidence to reenter next week.

P.s. Is Trichet asleep? what is ECB doing with 3.75% rate?

 

[CanOz]

Re: USDJPY

This is incredible selling...global selling....the things that smell of caput!

I fell like a kid stuck inside during a raging blizzard....safe, sound, and able to watch it all in total awe!!!!

Amazing times people, amazing times... waiting for a retrace to enter...will the S&P cover any of the gap tonight???

COZ

Bent...if you have Skype PM me and i'll give you my UN, i just gotta experience this with someone!

 

[BentRod]

Re: USDJPY

Sorry mate, no Skype here.

You'll just have to watch it lone ranger like me

 

[CanOz]

Re: USDJPY

Sorry mate, no Skype here.

You'll just have to watch it lone ranger like me

Struth Bent! What does it mean when you are Euphoric about a collapse? I;m so excited about this! I love it!!!!

CO

 

[BentRod]

Re: USDJPY

Me too, I'm still short Euro ,Cable and Aussie Yen...lol

 

[CanOz]

Re: USDJPY

Me too, I'm still short Euro ,Cable and Aussie Yen...lol

Bloody murder mate! Good on ya, to be on such a huge move.

Whats your guess for the open? I'm thinking (read:anticipating) a sharp decline through the pivot followed by a partial gap fill then a sharp decline into the close.....actually i have no idea but its a guess! In any case i'm looking for a pullback to short and get in for while. Honestly i think the move for the week has been made!

Cheers,


COz

 

[chops_a_must]

Re: USDJPY

Struth Bent! What does it mean when you are Euphoric about a collapse? I;m so excited about this! I love it!!!!

CO

You aren't the only one!

 

[CanOz]

Re: USDJPY

You aren't the only one!

Yeah, its like holly Cr*P i am alive to witness this, and gain from this experience while still in CASH!!!! (whatever thats worth at the end of this).

OR

Maybe i just love chaos.....

Why do you love it so much Chops?

COz

 

[chops_a_must]

Re: USDJPY

Yeah, its like holly Cr*P i am alive to witness this, and gain from this experience while still in CASH!!!! (whatever thats worth at the end of this).

OR

Maybe i just love chaos.....

Why do you love it so much Chops?

COz

I love adrenalin. Very much like white line fever at the moment.

Plus the stimulation of everything moving so quickly and wildly.

 

[CanOz]

Re: USDJPY

Exactly, the volatility, and watching the reactions to the various price levels...spotting opportunity. I don't always take positions because i just have not got the experience to be comfortable with the setup...patience....wait for the obvious one i reckon.

Cheers,


COz

 

[1080p]

Re: USDJPY

USDJPY just broke 90. It'll be interesting to see what the BOJ will do now...

 

[BentRod]

Re: USDJPY

getting hammered even more than the crosses at this stage.

Hopefully no intervention but who knows??
It would seem likely at these levels.

 

[BentRod]

Re: USDJPY

Feels like De Ja Vu

USD/JPY and Yen crosses just got wacked.

Hourly:

 

[Stormin_Norman]

Re: USDJPY

and a big bounce. know what caused that?

 

[BentRod]

Re: USDJPY

Technically it was a text book double bottom (to the pip.)

 

[BentRod]

Re: USDJPY

USDJPY has rallied all the way from its lows to break out of a Sym Triangle on the Hourlies.

Currernt range is 156 pips which is well over the 5 Day av of 112.

Got legs??

Edit: has moved a lot higher as I have typed this post

 

[Wysiwyg]

Re: USDJPY

Don`t know what the quote was back then Ben Trod but I`ve picked up another symetrical triangle at the 3/4 way point.

Just wondering if the USD would be bought with Japan experiencing its worst economic phase for 35 years (well that`s what I read anyway).

Does anyone know what usually happens with this type of news?

Here is the price range being condensed in a symetrical triangle.(again )

 

[BentRod]

Re: USDJPY

Yeah watching that one too although a bit messy for my liking, plus the market will be dead untill EU comes online.

Still looks like it would be a good sell as it touches the top if it looks like it will roll over.

If it goes on much longer the price action will be too far into the corner so it will end up breaking out by default which usually involves a break on both sides.

Does anyone know what usually happens with this type of news?

No idea, I don't base any trades on news as there is no way to anticipate the reaction.

 

[Glen48]

Re: USDJPY

My limited understanding is USA will try and get the 800B bailout money from Japan which should support the Yen.
From Fat Prophets:

Feb. 16 (Bloomberg) -- Japan’s economy shrank at an annual 12.7 percent pace last quarter, the most since the 1974 oil shock, amid an unprecedented collapse in exports and production.

Gross domestic product fell for a third straight quarter in the three months ended Dec. 31, the Cabinet Office said today in Tokyo. The median estimate of 26 economists surveyed by Bloomberg News was for an 11.6 percent contraction.

Exports plunged a record 13.9 percent from the third quarter as global demand for Corolla cars and Bravia televisions evaporated. Toyota Motor Corp., Sony Corp. and Hitachi Ltd. -- all of which are forecasting losses -- are firing thousands of workers, heightening the risk a slump in household spending will prolong the recession.

Japan’s post WWII renaissance has been built around supplying the US consumer with capital goods, cars and electronics. This has led to Japan developing a world class export sector, which has in turn helped the country to amass huge amounts of capital, the result of persistent trade surpluses.

Now, because of Japan’s strong creditor nation status, a strengthening yen, combined with a major drop in US consumption, is wreaking havoc on the export sector. And unfortunately, Japan’s domestic sector is not healthy enough to even partially offset the export led weakness.

On the surface, it is easy to blame Japan’s woes on the global recession. But the underlying problem is the US dollar as the world’s reserve currency. Dollar hegemony has allowed global trade imbalances to get completely out of hand. For years, Japan has underwritten US growth by buying treasury bonds and until recently overtaken by China, was the world’s largest owner of US
treasuries.



Given the problems in the export sector, we would not be surprised to see the Japanese once again come to the aid of the US by buying up hundreds of billions worth of treasuries. Japan would have to print and then sell yen to buy dollars, which would have the effect of improving the dollar/yen exchange rate in favour of Japan’s exporters.

The US obviously does not have enough domestic savings to finance its upcoming mega deficits. So having the Japanese to help out would be welcomed. This of course would prolong and extend the imbalances, so would only be a short term fix.

It is worth remembering that under the classical gold standard imbalances could not build in the system, and any adjustments were usually short - albeit violent. Nation’s could not run enduring deficits because they would run out of gold, a sign that their credit had also run out. Dollar hegemony provides the US with unending credit, as long as faith remains in the integrity of the currency. This system has ‘worked’ for the past 35 years, but we don’t think it will, or can, continue.

 

[Stormin_Norman]

Re: USDJPY

the race to the bottom.

the currency crosses are becoming a fight with wet newspaper as each government/central bank is attempting to force down their currencies either directly, or indirectly.