Intervention ?

[Mysticforex 13]

BOJ has a Monetary Policy Statement scheduled today. Do you think BOJ will intervene in the near future to weaken the yen?

[Obsidian 10]

I think they would not waste any more yen for temporary dreams

[Mysticforex 13]

Looks like we just had BOJ intervention...

[Mysticforex 13]

I thought the BoJ wrote the rulebook on interventions #1 rule: only intervene when mkt is ALREADY going your way

[Landser 10]

It's too early I think. BoJ now is just expressing it's concerns verbally, and the very intervention might happen when USDJPY falls to 76.50+.

[Obsidian 10]

BoJ interventions = fail imvho

[Mysticforex 13]

BoJ interventions = fail imvho

 

We are not economists we are traders. Fail or not, it should present a nice trading opportunity.

[Obsidian 10]

in deed that fact gives good opportunities...wait till intervention is over and long jpy

[Landser 10]

in deed that fact gives good opportunities...wait till intervention is over and long jpy

 

I guess this position would be a rather long-term since right after the intervention JPY is going to have a strong depression lasting for a week or even more.

[Obsidian 10]

if we see a drop below 77.50, then the next stop will be 76...same goes to the upside; close above 80.10 means the next stop will be 81.40...I think it will go south. However, since we are not gamblers, it is better to wait till a breakout occurs

[Obsidian 10]

I don't like trading usd/jpy (as my TA sucks when it comes to this pair) but I think about longing around 79.20 (if seen) targeting 81.40 with a stop at 78.40...any thoughts?

[Obsidian 10]

i am glad that i don't touch this pair :rofl:

the daily chart says until usd/jpy closes above 79.55, don't buy it

[Obsidian 10]

usd/jpy is at a critical level..once again...

left chart is 4H and right chart is daily

when we see the marked places on the daily chart, usd/jpy may take off

1-Chikou span is above previous prices

2-TS/KS lines crossed over

3-Price is above the clouds

 

Close above the clouds (daily chart) means we are out of descending channel, it would also mean we broke above 79 resistance..will be watching closely...

[Obsidian 10]

BoJ announcement was within expectations so it is time to wait to decide the next move...will be watiching the marked levels.

[Obsidian 10]

usd/jpy gone wild

maybe a pause at 81.60/85 first, then 84?

[Obsidian 10]

what if Shinzo Abe's party lose elections, what would happen to usd/jpy?