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by Ashraf Laidi
Posted: Feb 22, 2010 5:00
Comments: 1558
Posted: Feb 22, 2010 5:00
Comments: 1558
Forum Topic:
JPY
Discuss JPY
65 still will happen.
How many times people said "this time they mean business" when it hit 90, 85, 80, 75.
So, play the bid, expect 80.10s before 65s comes to town.
Ashraf
alaidiAshraf Laidi
doesnt matter. 65 will be the new 80 in $USDJPY #forex
5 hours agoFavoriteRetweetReply
Japan intervenes in midday Monday Tokyo trade, lifting USDJPY and EURJPY by nearly 400 pips each to 78.60s and 111.00 respectively. Yen Interventions have proven to be like Halloween costumes, with very limited duration before they lose their effect. The duration of the post-August intervention lasted 1 day. The duration the post-March coordinated intervention lasted about 2-weeks. The duration of the post-September 2010 intervention lasted 1 day. Rather than speculation on the DURATION of today's intervention, we focus on the PRICE.
We expect USDJPY and EURJPY to extend moves into the US session, with various phases of bids & pullbacks. 79.30 & 79.80 appear to be the next key targets, with 77.50s and 77.10s likely to emerge as the key support levels. The objective (and hope) of the BoJ is to extend the impact into Fridays US NonFarm Payrolls (NFP), whereby a positive number, will be supportive for USDJPY.
Premium Subscribers can view our August piece on USDJPY HISTORICAL CYCLES (still valid) for the key levels above/below which to consider placing stops and entries. DIRECT ACCESS to USDJPY piece herehttp://ashraflaidi.com/ products/sub01/ access/?a=466 To subscribe, click here:http://ashraflaidi.com/products/sub01/
Ashraf
My video take on "Japan's Yen's Choice" video 15 mths ago.
Video posted 15 months ago. The only thing that changed is the employer's name.
http://www.youtube.com/watch?v=fvXqTViK7Yk&feature=youtu.be
Ashraf
As we can see in the USDX Monthly Chart - last Month we have break the longterm downtrend and USD showing strenght against all currencies with one exception and Its JPY - Doesnt help it at all