Yen/$

FX traders take a l@@k @ this one! Every1 bearish both short and long term. Contrarian in me is screaming.!.....

 

Anyone who is bearish the yen long term doesn't understand either technical or fundamental analysis.

Short term the BOJ can do anything; long term, they are just sticking a finger in the dike. The dam is about to burst.

 

Bought 100k @108.3 earlier ON A DEMO newswire on demo says well bid 18.15-108.2

 

I understand its on a demo, but in general, my suggestion is not to give any importance to such an information "good bids here/ good asks there" - its no use. Not useful at all, bcos those who really move the market, enter suddenly, without orders, so noone can see it. Maybe its only my opinion, but I thought I would share.

As for $/Yen ... well, at the moment (I am not talking intraday movements, I dont trade them)...so at the moment I dont see any reason why yen wont strenther further. At least to 106 for now. There are no indications for reversal YET. Even if we are going to reverse, I think first we see 106. Maybe in a week, maybe in a month, I dont know. It may retrace first for some time before resuming move down...

 

btw got sold out of my original position reinitiated at 108.12

 

Very true. I bought at 111 and I'm not closing out anytime soon...

 

any1 catch that move? When I said bearish I meant every1 was bearish on the Dollar and bullish on the Yen. Went long just above 108 and yesterday it traded at 110 and change. Cheers!