According to Dailyfx, high pessimism on the yen among retail traders . . Currency also trading through important levels . . . what are the chances it breaks to new levels soon? Or is the BOJ in the market buying dollars and will prevent too strong a currency?
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what are the chances yen trades thru 87
- Thread starter billyjoerob
- Start date
I'm just looking at the chart . . . a break through 87 on USDJPY would be serious. Don't know about global equities.
The last time the yen was this strong was back in 95 . . . lived in Korea at the time and the currency was on the news all the time. This is a stealth yen rally with heavy disbelief from the pikers at FXCM. Always worthwhile to bet against them, or so I'm thinking.
Clearly, there's been quite a bit more pessimism about the dollar recently. BoJ isn't in the mkt buying dollars and I don't think intervention is likely any time soon.Quote from billyjoerob:
According to Dailyfx, high pessimism on the yen among retail traders . . Currency also trading through important levels . . . what are the chances it breaks to new levels soon? Or is the BOJ in the market buying dollars and will prevent too strong a currency?
http://www.dailyfx.com/forex/technical/ssi/table/2010-07-15-1526-US_Dollar_May_Fall_Further.html
Looks like most of the wrong-way traders are betting on dollar strength vs. euro and yen and pound.
Looks like most of the wrong-way traders are betting on dollar strength vs. euro and yen and pound.