I've got a buy order Aud/Jpy @ 61.60 and 60.90 but that's not really an indicator! (target 62.10) Fundamentally I'm lost, it seems a case of who's in a marginally better position than the rest of the world, everyone's economy is in do-do as far as I can see! It's every man for himself, I'm sticking to technicals with small(er) positions and wide stops! edit: also a long Eur/Jpy @ 121.90 order in
All in good fun. Read a couple reports this a.m. $ would normally have strengthened on weak jobs, but may be doing the opposite. Conspiracy theories strengthen as my equity weakens!
I read a similar report but I'm not quite sure how they work out that a bad number is dollar positive, unless they're talking about a bad number being priced in ie buy the rumour "The rumour of a very bad number for U.S. payrolls data in a normal world would be good for the dollar, but the knee-jerk reaction this time round has been to sell it," State Street currency strategist Lee Ferridge said.
That's a bit ironic, bad US jobs numbers and a flight to......the US! I think someone somewhere needs to redefine 'safety' As far as Yen goes, I wonder how far the BOJ (MOF) will tolerate a stronger Yen.
BoJ already shot across the bow on USD/JPY a few weeks back. As for flight to quality, that's US government debt. Unless you can name another instrument that has the depth and - laugh - stability that it does. And don't say gold!
Well that's just friggin' great, Aud/Jpy entry and t/p filled on CMC but not on Oanda! Does anyone know the low Ask on Oanda?