Yen is making some serious moves

T-Bone Trader · Jul 8, 2009

Nobody (except the guy who sent me a pm) realizes that I saw and alerted the board to the major move in the yen before anything even smelled remotely close to a "major move"

It's funny how everyone is so quick to criticize and poke fun at someone just because they write some crazy threads for kicks

Also very improbable that anyone made as much profit as I did shorting the eur/jpy pair this session

ivanbaj · Jul 8, 2009

Quote from T-Bone Trader:

Nobody (except the guy who sent me a pm) realizes that I saw and alerted the board to the major move in the yen before anything even smelled remotely close to a "major move"

This is true. The 10 year and the bond moved much later.

makloda · Jul 8, 2009

Quote from T-Bone Trader:

Definitely a dumb statement on my end -- but I've never seen such a dramatic move!

Look up the CAD/GBP/AUD/NZD/JPY and most of the emerging market currencies Sep/Oct/Nov 2008. THAT was dramatic.

There were days of 4-6% daily moves in some currencies against the greenback. With the JPY going the opposite direction that made for 7-9% daily moves in the JPY crosses.

Today is barely worth noting (compared to 2008).

Ivanovich · Jul 8, 2009

Quote from T-Bone Trader:

Nobody (except the guy who sent me a pm) realizes that I saw and alerted the board to the major move in the yen before anything even smelled remotely close to a "major move"

It's funny how everyone is so quick to criticize and poke fun at someone just because they write some crazy threads for kicks

Also very improbable that anyone made as much profit as I did shorting the eur/jpy pair this session

I got news for you, friend. You didn't alert any of us. We're all trading it. We just would rather trade it than post about it. We didn't need to know the source of it.

Martinghoul · Jul 8, 2009

It's a bit early, but it things keep going this way, I think I'll start looking for some tasty intervention soon... Let the fun begin.

Ivanovich · Jul 8, 2009

Quote from Martinghoul:

It's a bit early, but it things keep going this way, I think I'll start looking for some tasty intervention soon... Let the fun begin.

On USD/JPY - absolutely. I think it's already in the neighborhood of jawboning.

I took profit on my AUD/JPY short and switched direction to play a bounce in light of equities. It may be premature, but we'll see. Long AUD/JPY for 100,000 units @72.07.

Stop @ 71

millionaire7 · Jul 8, 2009

Yen pairs are always more volatile than others.

http://www.tradingmarkets.com/.site/forex/fxvolatilityranking/

Martinghoul · Jul 9, 2009

Here we go, as expected...

A Japanese government spokesman Kawamura stated that "excesive currency moves are undesirable for the stability of the economy and the govt will closely watch market moves".

euclid · Jul 9, 2009

Quote from T-Bone Trader:

Nobody (except the guy who sent me a pm) realizes that I saw and alerted the board to the major move in the yen before anything even smelled remotely close to a "major move"

Well done on your call. It was about a week late, but at least you caught the tail end of the move.

Ivanovich · Jul 9, 2009

Quote from Ivanovich:

On USD/JPY - absolutely. I think it's already in the neighborhood of jawboning.

I took profit on my AUD/JPY short and switched direction to play a bounce in light of equities. It may be premature, but we'll see. Long AUD/JPY for 100,000 units @72.07.

Stop @ 71

Bounce is fizzling out (or so my thought goes). Closed long, @ 72.82 for a smidgen less than $800. Will look to reshort AUD/JPY @ 150,000 units on clear break of 72.35 OR a 73.85 failure.