it's a sell folks I am short and adding Target 119.85 Check the eur/jpy this week...Crashing into 155 GL
Feb. 19 (Bloomberg) -- Japanese stocks may fall, led by Sony Corp. as investors refrain from buying shares ahead of the Bank of Japan's monetary policy meeting this week. -waterfall stop run if they raise, possibly to 116.60, with a quick reversal, since the next rate hike will be a long ways away.
I guess I have to stay up until 1 am, darn!!!! I don't know about the 116.60 level. Jpy took a tank from 122 level to 119.40 level. I think that were old saying comes into play. "The news are already priced in." Although I might be wrong.
nikkei usd/jpy spoos upticking.... gap up in usd/jpy...attempting to test 120.00 previous floor now resistance.
I'm short the front month YEN future. Sold a couple this session either side of 8400. Looking to sell up two more overnight or day tomorrow. Working on a price for those entries. My YEN trades are usually poor -- the poorest of any currency I trade -- so I don't begrudge faders. I'm also short two NIKKEI futures (CME contract) from last Friday. My last substantial NIKKEI trade was in 2005. I was lightly long, then medium long, then heavy long for most of the move in the last seven and half months of that year.
Inactive today; didn't add to YEN shorts. Not enough price action to merit it. Will sell two more tonight if/when price rises to and thru 8410. (Don't really expect that, though.) Stops to be set at 8505, 100 ticks (or so) from entries. Need 8200 for a 1 for 2 risk/reward.