Interesting USD/JPY Chart
July 1, 2010
Look at this, USD/JPY moving along with 2 year yields. What does this suggest? That next week, USD/JPY could bounce. If payrolls is very weak, that may not happen, but U.S. yields are nearing very low levels and short positions area heavily weighted to USD shorts.
Posted in 2009 japanese yen forecast, forex blog, usd/jpy
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July 1st, 2010 at 5:49 pm
[...] Interesting USD/JPY Chart | Kathy Lien [...]
July 2nd, 2010 at 4:28 am
Very true, USDJPY follows US yield. There is also chance of BOJ intervention at current levels. Risk / reward ratio is favourable to go long on USDJPY. I had bought USDJPY at 87.98.
July 3rd, 2010 at 9:12 am
Well to tell you the truth if you look at amy chart its all a coin toss, from day to day, minute to minute its all randon from an observers viewpoint so all one can do is randomly react to the random chart activity before you.
When you make a trade 2 things can happen, you can win or you can loose, I’ve been trading a pretty good EA for the past month thats pretty good at guessing, its doing way better than Me at guesing… Just keep in mind that you have to be willing to win and loose in this coin toss.
Forex Seikou Expert seems to be one of the most successfull at this. I like the fact that it has a global TP for all pairs, It uses an additional EA called Profit Guardian to accomplish this. Still each order can hit its own takeprofit and stoploss. So far so good. http://forexseikou.com is where you can read more.
July 8th, 2010 at 7:18 pm
I had bought USDJPY at 87.98. Current rate for USDJPY is 88.51. My profit is 53 pips.
July 13th, 2010 at 7:15 am
Thanks for the information, I was not aware of this correlation. Do all of the maturities generally exhibit similar behavior relative to the USD?