Comments on: EUR/JPY making fresh session highs

By: Sean Lee

Sean Lee — Fri, 14 Dec 2012 09:00:08 +0000

Should see some volatility on Monday morning Mike, election result should be known by time markets open

By: Mike

Mike — Fri, 14 Dec 2012 08:56:44 +0000

In reply to Sean Lee. > good point, waiting the exhaust move

By: Sean Lee

Sean Lee — Fri, 14 Dec 2012 05:26:10 +0000

I think I’ve heard this same story many times over the last 15 years Ivan, but ultimately you have politicians on one hand saying what they need to in order to get votes but there is then a big difference with what in reality can get done. BOJ stays independent is bottom line

By: Ivan

Ivan — Fri, 14 Dec 2012 05:09:41 +0000

So… do you think we will see an ultra-dovish BoJ in 2013? Will Abe’s regime have enough support to pass bill to kind of force the BoJ to print aggressively till inflation targets met? Hopefully the Yen doesnt disappoint this time and rather than a round trip back sub 80s gives us a more consistent trend for 2013, FX badly needs it…

By: Sean Lee

Sean Lee — Fri, 14 Dec 2012 05:01:12 +0000

I’ve seen it happen so many times Dok, mkt gets all excited about something and then realises that its not going to happen. Vertical up and then vertical down moves

By: Sean Lee

Sean Lee — Fri, 14 Dec 2012 04:57:40 +0000

Stay patient I think Lam-Son, but it’s certainly the silly season 🙂 Wait for spikes, if it keeps grinding higher then simply stay out imho

By: Sean Lee

Sean Lee — Fri, 14 Dec 2012 04:56:14 +0000

Hi Ivan, certainly plenty of Japanese retail investment funds piling into JPY crosses in anticipation of post-election easing measures and I think this, allied with HFs and CTAs adding to existing longs is the main story. I’m sure there will be occasional stop-runs in both directions but personally I haven’t heard of any significant Yen long positions

By: Tony Darvall

Tony Darvall — Fri, 14 Dec 2012 04:52:54 +0000

look imo if the Yen strengthens post elections, the new PM will Jawbone/act till it moves higher, thats the assumption i will take going forward

By: Ivan

Ivan — Fri, 14 Dec 2012 04:52:34 +0000

Hi Sean,

Do you think today’s Yen decline has more to do with perhaps the stubbornness of Yen bulls leveraged accounts getting out of positions on margin calls, which perhaps creates chain effect? Is this latest USDJPY rally having real buyers behind or mere speculation, stops hunted and margin calls…

By: Lam-Son

Lam-Son — Fri, 14 Dec 2012 04:12:42 +0000

I am looking for a good entry for selling CHF/JPY. Almost 91 now. Very crzay!

By: Nachiket

Nachiket — Fri, 14 Dec 2012 03:58:09 +0000

I don’t think europe will take it to 110.50. I think it will reverse a bit after the tokyo session is over. this is crazy intervention but.

By: dok

dok — Fri, 14 Dec 2012 03:57:48 +0000

Sean, many USD & JPY based seems to be pretty overbought yet prices screaming higher, looks like this weekend will be risk on perhaps monday we’ll see large dips? market seems to be overrated about LDP going to win majority seats in lower house

By: Sean Lee

Sean Lee — Fri, 14 Dec 2012 03:47:05 +0000

Ok Nachiket, timing as always will be vital me thinksl

By: Arkv

Arkv — Fri, 14 Dec 2012 03:39:51 +0000

Probably won’t see past 111 by the end of this week and I think we will see a pullback after the Japanese election, but not until 112.

By: Nachiket

Nachiket — Fri, 14 Dec 2012 03:30:08 +0000

correction: I am on your side

By: Nachiket

Nachiket — Fri, 14 Dec 2012 03:26:25 +0000

Hahahah. how many times have we fought the JAPS this year. even benny did not help us. having said that I am not your side to fight the bulls. way way way overbought