It's a chart of the USD/JPY. Do you see: A) The greatest USD/JPY buying opportunity of a lifetime? OR B) The true value of our great fiat greenback? (See the Chart Below)
When we've seen 30% moves in major currencies and the usdjpy is only recently off about 10-15%, i don't see anything worthy of getting excited about yet... that said, usdjpy can be 80 just as easily as it can be 110. I think its more compelling lower.
I think the AUD/JPY is looking like an awesome buy. Anyone? It was the very first JPY cross to get blasted into oblivion. I also checked the data going back to 1990 (no Aussie data before that - what is pre-float??) and it's all time low was somewhere around 58.
I like audjpy too.. great value. price target: 80. [that would be nice.... when will this damned deleveraging end!!!]
Well, that is the question. I can't believe this can go on for much longer. But then again, there's that whole "market can remain irrational far longer than investors can remain solvent" thingy.
I just don't know about all of that. These mulit-decade technicals just keep playing with my emotions. I took TOS back as far as it would let me on the AUD/JPY, and it looks like it's either going to be a big, mean H&S, or a triple bottom that actually holds. Take a gander..........
The head and shoulders would imply a move much, much lower. So where does it go? Does anyone here honestly believe AUD/JPY can go to something like 30? 20??
Its a developed country currency for heavens' sakes... !! Anyone have some Aussie GDP / debt/surplus /etc figures ?