one indicator that's been hitting lately is how oil weakens the eur and gbp/usd. also, when the nikkei goes down it seems to strengthen the yen. given technicals, like the daily, the eur/jpy and usd/jpy should fall.
care to explain more plse? thankfully i am flat but no clue, nothing on Bloomberg etc, Nikkei pretty much flat, ok toyota posted nice results achieved overseas etc therefore can if it wants, repatriate megatons of JPY, nothing special on oil these last few days etc etc... WHY, yes why, is JPY going thru the roof against USD, GBP, EUR since 15:20 Tokyo time? a 50 pips move against $ into 30 minutes on NO NEWS is not a v.common sight, not to me at least... any inputs mucho appreciated companero!
oil and nikkei are not notably volatile but they have been edging down. i also believe exporters will lock in some prices and sell usd/jpy. for balance, i chose the eur/jpy to short. the momentum seems ripe, at least for 90 pips to 141.50, low 140s.
doesn't explain this vertical bar, such magnitude over 30 minutes, 3 crosses!.... what size yr short if i may ask, 200mio ;-))) ?
it's not wise but i'm all in. i think the magnitude was just pent up energy that was waiting for a reason to sell the usd/jpy.
thats my point, there IS no reason... therefore much more likely one of the local emotional mammoths buying in size... unless s.o. knows what fukui is going to say on feb 9, but i doubt he'll be any more hawkish than trichet, the hard data's just not there for a 'change in BoJ policy' imo... good luck with yr trade tho'!
seeing a lot of USDJPY selling on HSFXi... all this no boubt is triggering a gazillion stops therefore not impossible we're gonna break 118 sooon... some big players needs a tokyo close below 118?? on a feb 7??? dunt git it.... wtfshappeninghere???
sorry for the vagueness but i would consider this kind of action as "unwinding" from the various events and price movements that have recently led to higher movement during the last week for the usd/jpy and eur/usd. all asian markets are being reflected in the yen.