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by Ashraf Laidi
Posted: Nov 10, 2009 16:34
Comments: 611
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Don't Forget the Yen

Much ado about USD rebounds during falling markets, but JPY strength still outperforms USD.
 
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Ashraf Laidi
London, UK
Posts: 0
15 years ago
Nov 17, 2009 16:37
Rob, good question, not sure how much the minutes will bear on GBP as the decision was to raise QE by only $25 bln.Will write an IMT about this today, stay tuned.

Ashraf
Rob
New York, United States
Posts: 305
15 years ago
Nov 17, 2009 15:17
Hi Ashraf,

Do you think the BoE minutes tomorrow will have any effect on FX- whether GBP/USD, GBP/JPY, or EUR/GBP - thanks for your help - and for this mornings tweets/targets.
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Nov 17, 2009 0:06
raj, theybe nee syaing for a long time now. ive been talking about JPY strength and indeed, the currency manages to HOLD steady despite prolonegd USD weakness. we could see quick rebound limited at 89.40s


Ashraf
14raj
Kolkata, India
Posts: 210
15 years ago
Nov 16, 2009 22:58
Ashraf,
I closed my USDYEN short position today at 8910. Is there any possibility that USDYEN may move higher if it cant take out 8700 level?I just read some articles from Bloomberg that the worst fiscal position in Japan may drive up Yen to 100 level.I took a small risk by initiating some long in mini contracts near around 8912.
Regards,
Rajib.
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Nov 16, 2009 17:28
emad, i said USDJPY would hit 89.15 on friday and today it hit 89.25. i think the bernanke comments will help support it at 89.50s but resistance still at 90.80s

Ashraf
emad_must
gaza, Palestine
Posts: 20
15 years ago
Nov 16, 2009 12:26
Hello Mr.Ashraf
I see USD/JPY in 89.60 and note move more from 3 days
what is ur opinion in the next time the Yen may be raise this week?
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Nov 12, 2009 15:26
rob, btw, euro is speeding its declines as USD rebounds extends further. no chance for ECB to change its rhetoric. need to watch their December conference/forecasts. but before that need to watch out for any major FX talk from China next week obama trip. negtv oil figs could prompt 1.48 and watch out for a Friday repeat of last 2 fridays in yen and oil.

Ashraf
Rob
New York, United States
Posts: 305
15 years ago
Nov 12, 2009 14:22
Hi Ashraf,

Your analysis on central bank comments has proven accurate in the past, esp. with the FOMC - any thoughts if Trichet will jawbone a bit and send EUR down? Disregard this if you feel it means I'm asking you to be psychic - ha Thanks
Ashraf Laidi
London, UK
Posts: 0
15 years ago
Nov 11, 2009 20:54
Serge, Weekly reversals on EURGBP have ALWAYS followed through. i issued 0.9070 target when it was at 0.9028. Please look in the latest HotChart in upper right of the site for fund and tech taionale. i see 0.97 in mid Q1 2010.

Ashraf
Serg
London, UK
Posts: 2
15 years ago
Nov 11, 2009 20:42
Hi Ashraf,

It's always good to see your analysis.

I usually daytrade EURGBP, so medium targets are not of much of use to me.

Only out of curiosity I'm interested in some medium targets and can't help noticing purchasing power (dis)parity and hearing from people visiting France how much more expensive is everything there compared to UK. I'm keen tech analysis follower, but considering above must say that I'm bearish on EUR and would expect at least 1.25EUR to 1GBP in the near future (or 0.8 EURGBP).

Any thoughts about Jan/Feb2010 EURGBP levels?

Regards Serg
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