60 minute chart : image 8 hour chart : image And yes, I am still long fully loaded to the hilt. First target : 110.57, if second SD hit, first profit stop hit, otherwise stay long.

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Fibo´s work : image

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It seems, now its more favorable...

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He is a clueless babbler. BOJ and government have lost total credibility. Nobody in currency markets will take them seriously anymore. The magic words in currency intervention used to be "decisive". Forget about it. Japan has made of itself a circus ...

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Exit total position. Waiting for long re-entry at more favorable market conditions.

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Prime Minister Naoto Kan defeated Ichiro Ozawa in the Democratic Party of Japan's presidential election Tuesday, retaining his post as head of the ruling party and seeing off the challenge to his prime ministership by the former secretary-general of ...

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First trailing profit stop hit. Out 1/3 position. Rest long.

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The trend is your friend... image

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I believe in my set of rules. Without discipline and rules, no success. And yes, as long as my rules are ok with the chart setup : I stick with my upward move "assumption". Of course, I have my trailing profit stops set, too. I suppose, we ...

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Still long from last week. 106.16, 106.64, 107.14. The trend is your friend. JPY still unbelievable strong - even after China news and call spread action. There is only one possible conclusion : Japanese banks are behind this YEN strength and ...

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Deutsche Bank last price 106.97. Have a good weekend.

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Quite a statement. Sept. 11 (Bloomberg) -- China’s industrial output rose at a faster pace than analysts estimated in August, signaling that the world’s third-biggest economy is maintaining momentum as growth moderates. Production gained ...

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There are two options : 1) Closing positions 2) Hedging ( either through the us of options, futures or currency pair that is inversely correlated to EUR/JPY...) 8 hour chart a couple of hours later : image

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Last print 107.01. Next 16 hours will be very interesting. China macro data over the weekend will bring some clarification.

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image Second standard deviation broken to the upside. 8 hour chart. Trend is your friend. Solid support 106.28 ( two 8 hour candlesticks ). So far, so good.

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The call spread transaction was an OTC ( interbank ) transaction executed by a large Forex powerhouse. Now, one can only speculate about the "intention". 1) It might have been an offsetting position play 2) It might have been protection for the 3rd ...

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USD/JPY update : if break of 84.48, we might end the week with a blue candlestick. 0.0012 JPYUSD "call spread protection" works just fine - so far.... image

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There is a London desk rumor 96.000 ATM call spread 0.001200/0.001400 JPY/USD ( ! ) bought. Finally some rumble in the jungle....

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No, Japanese companies like Nissan, Toyota, Toshiba are not amused by currency policy of BOJ. Lately, more than 70 % of companies have expressed their concern about JPY level and falling profits => lower stock prices.

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This does not mean much. China's central bank policy is to diversify away from USD into other "hard" currencies for quite some while. Usually, China is purchasing currencies of strong export related countries. Japan is one of them. BUT : the ...

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