Usdjpy

buy on rumor sell on fact, price action seems like bulls already bought into it pre news. It has to draw in net bears, otherwiseit will be the bulls trying to exit out.
 
Bears wont step in till significant levels are breached. (120).

Bulls wont step in till they get a bargain, in the next 12 hrs, before US open.
 
Another nice pop in Aussie over yen based on BoJ announcement, as projected last week.

Quote from Chood:

[1-11-07]AUD/yen may regain and improve on 94.00 off tonight's Aussie employment news. That is indicated by the first trading off the news. Should go even higher next week. I for one don't forsee BoJ hike.

[1-12-2007]AUD/yen cash finishes the week about 150 pips higher than just before the Aussie employment report. That is approximate.

I'm not in the position, but I am looking at taking a piece of it next week, ahead of BoJ announcement, via futures: long AUS/usd, short YEN/usd, with YEN overweight 5 to 4.
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