Looks like BOJ just stepped in

Discussion in 'Forex' started by Algo_Design_Kid, Sep 14, 2010.

  1. no one here is ever on the wrong side of anything

    oh, wait, they will tell you they lost X, but made 10X on the next trade
     
    #11     Sep 15, 2010
  2. da-net

    da-net

    interesting comments over the **** news;

    (Barcelona) - It is the first time in 7 years BoJ intervenes on its domestic currency,since last one in Sept 2003, after trying to unpack China's currency. Latest levels we have are: USD/JPY 84.50, EUR/JPY 109.50, AUD/JPY 79.30, GBP/JPY 131.00. Japan had been unsuccessfully sounding out to the US and Europe in a mindful way to get alliance for a possible Yen depreciation, yet none of these continents were supportive, as they were more than happy to witness Yen's surge. Japan's Fin Min Mr. Noda stated that "Current movement in FX market was hurting the Japanese economy" . It has been actually harmful since the last economic meltdown in 2008, with JPY being labeled without doubt the strongest currency. Japan is already in deflation so the intervention does make sense, the question mark is will they get enough support from the market not to jeopardize Yen's depreciation? In terms of the implications, the devaluation injects competitiveness for exporters. Despite many countries in recent history have been allowing currencies to strengthen, Japan is in a different position because the impact on exporters.
     
    #12     Sep 15, 2010
  3. we got the 85

    as predicted

    that was easy
     
    #13     Sep 15, 2010
  4. doesnt even look like intervention, just a bunch of caffeine poisoned forex traders.
     
    #14     Sep 15, 2010
  5. yen barely moves enough to cover the commision
     
    #15     Sep 15, 2010
  6. Bakinec

    Bakinec

    dude, its better than the action before the announcement. shoot, i don't care if they intervene, all i care about is volatility, so far so good.
     
    #16     Sep 15, 2010
  7. Tell you a story :

    made my fastest ever profit in 3 seconds in 2008 GBP/JPY. 100 pips. 17k.

    Lost same 17k 5 minutes later.

    :(
     
    #17     Sep 15, 2010
  8. I definitely got caught last night on the wrong side of the intervention. Took some lumps for sure, but it could have been much worse.
     
    #18     Sep 15, 2010
  9. Tell you a story: Lost 1800 yesterday, short AUDJPY, when BoJ stepped in. Haven't made any of it back.

    :D
     
    #19     Sep 15, 2010
  10. sarcasm alert
     
    #20     Sep 15, 2010