yen to weaken: prediction

yen.JPG
I don't trade yen cos their volatility is too small for a small trader like me but looking at the chart, prices will likely to come back to 108 today and then 109.5 (or around) is as far as it will appreciate, so I agree with ETcallhome...
 
victorycountry said:
View attachment 164516 I don't trade yen cos their volatility is too small for a small trader like me but looking at the chart, prices will likely to come back to 108 today and then 109.5 (or around) is as far as it will appreciate, so I agree with ETcallhome...
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I'm short usd.jpy so 109 puts me right back at even. But I need a yen position on right now to even things out and I have a nice profit I can use to absorb a little. I didn't think the yen would go this high so it's a nice surprise.
 
We really need another national holiday called Newbie Day. Without newbie traders, the markets would cease to exist. We should all feel grateful.
 
maybe he has longed forward contract to payback his loan payment to a Japanese bank/ or has accountable payable to a japanese firm...then at least $0.2 Million is hedged
 
traderob said:
I am long USD.JPY $200,000 at 107.3
target 112.
stop 105.2
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Not sure US Dollar will retreat before June Fed meeting. I think it will wander in the range 106-107.50 till or probably go lower. Further Oil rally may provide some support but it won't be sufficient to boost USD/JPY beyond the specified corridor
 
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