Buying The Yen

Discussion in 'Forex' started by DrawDown, Jul 15, 2006.

  1. With the yen being kicked back into action after 6-years dormant, albeit by a small increase in interest rate to .40%, nonetheless, that is a change.

    Doubtless, it has some effect on the ForEx even if it's miniscule.

    Hence, I opened a short on CHF/JPY, buying the yen.

    CHF/JPY has climbed practically vertical from 86.65 to its peak of 94.35 (770-pts) where it's trading now (94.09).

    We've had a few interesting drop backs, one from 93.15 to 88.30, and another from 92.25 down to 87.65.

    My trade will attempt to scale in on a continued climb (deep hole), or to TP/re-enter from time to time on a sustained retracement.

    Seeings CHF/JPY is only 3-wide, I won't be stopped from scalping downward trends either.

    Anyone else buying the yen against CHF or against any other currency?