yen to weaken: prediction

I am long USD.JPY $200,000 at 107.3
target 112.
stop 105.2

 

I'm short from 109.81. Today looked like the big blow off, but I don't want to get out just yet.

 

I don't trade yen cos their volatility is too small for a small trader like me but looking at the chart, prices will likely to come back to 108 today and then 109.5 (or around) is as far as it will appreciate, so I agree with ETcallhome...

 

I'm short usd.jpy so 109 puts me right back at even. But I need a yen position on right now to even things out and I have a nice profit I can use to absorb a little. I didn't think the yen would go this high so it's a nice surprise.

 

No no no I don't think so not here.

 

We really need another national holiday called Newbie Day. Without newbie traders, the markets would cease to exist. We should all feel grateful.

 

Still like this trade?

 

maybe he has longed forward contract to payback his loan payment to a Japanese bank/ or has accountable payable to a japanese firm...then at least $0.2 Million is hedged

 

Not sure US Dollar will retreat before June Fed meeting. I think it will wander in the range 106-107.50 till or probably go lower. Further Oil rally may provide some support but it won't be sufficient to boost USD/JPY beyond the specified corridor

 

well that's about if for me, covered most at 106.18.