USD/JPY to the Moon

schizo said:
I dunno. It would be an uphill battle, especially if the BOJ is holding the torch.
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I'm agnostic as to whether we break 160 or not, but I'd be surprised - and even disappointed - if we didn't see a retest.

But hey, I'm just a punk.
 
schizo said:
I dunno. It would be an uphill battle, especially if the BOJ is holding the torch.
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BOJ interventions create volatility for a few days but are invariably meaningless, as far as the direction, timing, and magnitude of big moves. At least, that’s been the case for the seventeen years I’ve been paying attention.

One could therefore ask what the point is of intervening at all, and for that I don’t have an answer.
 
Specterx said:
BOJ interventions create volatility for a few days but are invariably meaningless, as far as the direction, timing, and magnitude of big moves. At least, that’s been the case for the seventeen years I’ve been paying attention.

One could therefore ask what the point is of intervening at all, and for that I don’t have an answer.
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Hold your pants. Yen's fate will hinge on the FOMC's action tomorrow. My bet is that the USD/JPY will back down to 152 in the coming days.
 
schizo said:
View attachment 339140

Bank of Japan Governor Kazuo Ueda addressed the weaker Japanese yen at a post-meeting conference. For now, he said, the yen’s weakness has not had an impact on underlying inflation in Japan.

“Prices are overshooting as a whole and the chance of inflation moving in line with our forecasts is rising. Exchange-rate volatility could have a significant impact on the economy and prices. If yen moves have an effect on the economy and prices that is hard to ignore, it could be a reason to adjust policy."
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The damn thing is even less stable than the crypto market! what the hell is with jpy?!
 
! Yen Carry.png
 
We need to see new ATH in USDJPY to short when their official is about to speak. For now I see no easy way to earn on that idea
 
schizo said:
Everything is revolving around the strength of the dollar at the moment. Also the dovish BOJ is aggravating the situation. Currently, 10 year Japanese bond = 1% and US10 = 4.7%. Hence, everyone is chasing after the yen carry trade, which is driving down yen further.
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It is my opinion that the momentum of the British pound against the yen is stronger compared to that against the dollar.
 
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