Buying Yen

Discussion in 'Forex Trading' started by FXsKaLpEr, Sep 23, 2005.

  1. I cannot sanction the yen weakening to anything above 112 against the USD: not in this environment.

    therefore I am buying yen / selling USD at 112 and above.

    the market wants a war, baby, I'll give 'em one: just move that rate over 112.

    skz

    current 111.90
     
  2. Fair Values

    112.1701 (Now) 112.3703 10 days 112.7224 20 days 113.7903 50 days

    Carefull
     

  3. I think better off GBP/JPY for 197
    or Eur/JPY for 1.34
     
  4. Major 4 Now Fair Values
    1.2067
    112.1701
    1.7713
    1.2841


    Never Long Unless actual is Less...
    VISa Versa
     
  5. "careful" ain't built into my trading system, sonny.

    FXsKaLpEr
     
  6. 100-pip chunk taken out of swiss today. :D

    long USD/CHF.
     
  7. war over:D

    [​IMG]
     
  8. Nice calls on this one!!!!!!!!!!!!
     
  9. azmi

    azmi

    skalpz...you are going to get rocked in this trade...i wish I had been to this site earlier I could have given you a dozen reasons not to take it. But hindsight is a bliss we dont enjoy so as you must be feeling the pain right now, I suggest at the next dip get out and wait and see. Even though China revalued the basket trading band from 1.5 to 3% it was mostly against the eur and the gbp - which are usd positive indicators. If anything you might want to go short at the 113 / 113.50 levels as that was the year high and stiff resistance there. You should get a yen or two on that one. But as of now...since rita didnt do the damage we all feared I think the USD is gonna rally like hell on Monday . especially against USD CAD
    cheers
     
  10. thanks, Azmi, for the counsel. :)

    the yen going to 113.50 or ever 114 is nothing for me.

    I've been to Hell and back already with the yen, brother.

    shorted at 105 (long time ago) - the puppy climbed to just under 114 if memory serves me right.

    I shorted and shorted all the way up..

    USD/JPY later dropped to under 102.

    so, the only thing that'll bug me is paying out the interest daily.. if it doesn't fall in a certain amount of time I may burn off some positions to reduce the interest sting.

    best,

    sKaLpZ
     
    #10     Sep 25, 2005