Some weeks ago BoJ was rustling their feathers, I guess intervention is drawing nearer... Everyone's just waiting for that to happen, in the meantime the trend is up up and away.
I don't think the BoJ has much choice. Their export business is quickly evaporating to China (who manipulates their currency to keep competitive). Personally, I think the Yen is behind much of the market - equities included - turmoil. It needs to be supported. Sometimes markets just get carried away.
Yeah thatâs what I am thinking too. I was about to short Yen today in my position trade account, but held off. I'll wait and see if BoJ will let it go above 90. I have a gut feeling we are going to see 80-85 before coming back down.
needs to be supported? we have found another capitalist who is not one when the going gets tough. it is back to beggar thy neighbor through currency manipulation. one more similarity which stilldoes not make the case that we are headed for a depression like the 30's.