buenos dias senor proximo que tardissimo! go to ET search page and type in deadbroke in the name box and Yen in the keywords box. No need to discuss, just read. Enjoy. Been in hard yen cash for years. Nobody listened, not even the finance professor at GGU. Too bad for 'em. Sapporos all around on me!!!!! http://www.sapporo-bier-garten.jp/foreign/english.php
It´s China´s darling. It´s hedge funds "safe haven" darling and 80 % of retail traders are trying to pick the bottom.
Its a beautiful thing with the Yen. Here's some ongoing magic to watch for - I'm watching it too. Very very very very important level for the Yen. At precisely USDJPY = 79.05 sits the 78.6% retracement level .... retracement of what, you ask? ... of the runup of superpower america from 1920 - 1968. It is this bullrun that is being retraced. It is a bearmarket yes in USD versus yen. But the larger trend is a massive bullmarket in the USD. Hehehehehe, its too much for anybody to handle. Fck I remember that long sideways triangle on the monthly chart. So I told the gang at Elliottwave, "you konw its going to be wave 5 down so why are you not recommending to your clients to buy and hold Yen, especially when you know that wave 5 in currencies is the power horse?" They had no fckin answer. Then dig this. Later Robert Prechter came out with his SCB - a new currency quotient that is a crosssection of the majors, but it fckin DOES NOT INCLUDE the Yen. I got fedup with those dummies. Fck 'em. Now they're as quiet as sheep that the Yen is fckin everyone up. Hey, all I know is that 78.6% is a strong support - it could fire and give us a reversal = end of bearmarket in $Yen. But its impossible to say anymore than "could" Either way both USD AND Yen, they be my buddies for a long time. Only one enemy can fck it all up for me. GOLD! That motherfcker won't quit and die.
They will of course try and it would be just like them to do so exactly at support (78.6%) and then unbeknownst to them (about the support) state how effective they were in halting the Yen. Oh sure it isn't good for the exporters. There was another article I came across yesterday about how the soreign debt situation w.r.t. japan bond yields differs from that of Greece and other dubious countries - and the shocker was that Japan could be a higher risk country but what separates it from the jokers is PURE CONFIDENCE. This is as it should be, but heck, what a slim thread that is because once confidence starts to turn it goes fast and the crash can be huge. Never a dull moment in currencies.
just occurred ...... weekly hits major Fib support and daily blasts thru' a trendline. Will it hold? weekly Uploaded with ImageShack.us daily Uploaded with ImageShack.us