Thread: Discuss USD/JPY, GBP/JPY, and other JPY Pairs

Unconfirmed Reports State Former Libyan Leader Moammar Gadhafi is Dead could rally equity markets and risk-on currencies.

Originally Posted by Gregory McLeod

Unconfirmed Reports State Former Libyan Leader Moammar Gadhafi is Dead could rally equity markets and risk-on currencies.

Yes, apparently, but the rebels proved to be no better than what Gadhafi used to do, he should have been captured and judged, not killed that way.

Anyhow, attached is a pic with the Long I had @131.3 and just added one @ 121.95. I did some scalps since my last update but unfortunately I don't have time to write the short trades, only the longer term ones. My reasoning behind the longs is as said before, expect a rally until end of year, decision made with info at hand, things can always change.

FXCM Dow Jones US Dollar Index Rebounding from Daily S2 Pivot Could Indicate Return of "Risk Off" Sentiment Ahead of Euro-Zone Summit on 10/23. Look for a rebound above the 9,673 area as confirmation.

New Record Low on USD/JPY 75.77: Where is the Bank of Japan? Intervention?

Bank of Japan is known to step in and sell their currency in order to keep their exports competitive. A strong yen hurts their export dependent economy. Sharp moves can often happen. Let's see what happens here as the 76.00 "line in the sand" has been crossed with impunity!

Hi

Terrible week. barely made peanuts this week

Looking for a better week.

~Marcello.

Remaining long @ 121.3 and 121.9, better take 100 pips loss, rather than wake up with a rally in USD/JPY because of BOJ intervention.

Originally Posted by Gregory McLeod

New Record Low on USD/JPY 75.77: Where is the Bank of Japan? Intervention?

Bank of Japan is known to step in and sell their currency in order to keep their exports competitive. A strong yen hurts their export dependent economy. Sharp moves can often happen. Let's see what happens here as the 76.00 "line in the sand" has been crossed with impunity!

Bank of Japan Threatening Intervention to Weaken Yen- After reaching a record all time low of 75.77, USD/JPY had made its way back up to the 76.50 before selling off. Another round of "jawboning" as BOJ officials try to talk down the Yen and scare out yen bulls with threats of intervention:
”We must take decisive action against any excessive movement,’’ Azumi was cited as saying Monday by Kyodo News, with the finance minister saying the yen’s gains were speculative in nature and that he had warned his staff to be ready ‘’for any eventuality.’’

Hi,

I rather hope the JPY does drop.


~Marcello

Bank of Japan may have accepted the slow downtrend of USD/JPY,
they will never intervene again to give money to speculators, but use the money to help their Domestic enterprises deal with JPY appreciation

Originally Posted by gerontocracy

Bank of Japan may have accepted the slow downtrend of USD/JPY,
they will never intervene again to give money to speculators, but use the money to help their Domestic enterprises deal with JPY appreciation

Hello gerontocracy! "Never" is a very strong word considering that the finance minister has stated that BOJ would. But we will see if my 76.50 target is hit.

Originally Posted by MarcelloM

Hi

Terrible week. barely made peanuts this week

Looking for a better week.

~Marcello.

Hey Marcello! I wish you all the best. Last week was a pretty tough week for both professionals and retail traders alike as the European debt crisis played havoc with the US stock market earning season. We could get some more directional trading once we clear the EU summit and 3rd quarter US GDP

Originally Posted by Gregory McLeod

Hey Marcello! I wish you all the best. Last week was a pretty tough week for both professionals and retail traders alike as the European debt crisis played havoc with the US stock market earning season. We could get some more directional trading once we clear the EU summit and 3rd quarter US GDP

Hi,

Every week is hard

Looking for the EUR to rise this week.

~Marcello

DailyFX Economic Calendar for Wk. Beg. 10/24 Filtered for "High" Importance Releases-

Hello Traders! This week has a lot of very significant economic releases on top of the EU Summit results on Wednesday. We will get a look at inflation measurements from Australia and New Zealand on Monday and Canadian and New Zealand rate announcements on Tuedsay and Wednesday. On the US front, Consumer Confidence, Durable Goods Orders, GDP and University of Michigan Confidence all could provide a substantial amount of volatility.

Watch DailyFX Team Live Coverage here to get expert analysis of what these numbers mean.

Get real time news here

Watch me Scalp in the Pip and Run Trading Room Monday-Friday at 6:00AM ET

Hi,


I am still Long

GBP/JPY target: 123
EUR/JPY: 108

~Marcello

GBP/JPY this morning. It climbed to 121.935, it makes higher lows on the 1H chart, thus there might be a breakout to the upside. It is currently forming a triangle. 1H candle closing above 122 would be a buy signal but do not forget the economic calendar as things might change quickly.
I am still long @121.3 and 121.9 since last week.