Comments on: JPY volatility carries through to Monday morning

By: Tony

Tony — Sun, 07 Apr 2013 21:03:50 +0000

It will be interesting to see if the 100 sma on the monthly chart plays any part in today’s proceedings as we’re pretty much at that level.

By: Sean Lee

Sean Lee — Sun, 07 Apr 2013 21:03:08 +0000

Yes PK, good point, EUR/CHF should go higher but keeps positions manageable and stops below 120. I am long EUR/AUD and think this is another cross worth watching??

By: pk00

pk00 — Sun, 07 Apr 2013 20:58:17 +0000

Sean

Thank you. That is my plan too but it still too painful to miss such an obvious trade. On a different note, do you think it is time to buy EUR.CHF

By: Sean Lee

Sean Lee — Sun, 07 Apr 2013 20:54:10 +0000

Morning PK, volatile markets mean that we have to trade more actively. Smaller positions overall but still ready to book partial profits on rallies and reload on dips.
I force myself to be extremely patient because I know there will be unexplained 200 pip dips from time to time.
If no pullback then I miss the move and wait for next one; there will be other chances

By: pk00

pk00 — Sun, 07 Apr 2013 20:43:24 +0000

Sean

This has been a very disappointing trade for me. I waited till 96.16 to establish a position. Went up like a rocket when japan opened on Friday AM. However, the volatility in the JGB’s shook me out of the position. I got out abot 10 pips higher. After the NFP, it rocketed agin and this AM is about 80 pips higher. The only good thing is I am not short the USD.JPY

After looking at retail positioning(a lot of us missed it), getting the full import of what the BOJ has done is looks this looks like a rare oppurtunity to make some good money, do we just close our eyes and buy USD.JPY. I fear we may not see decent pullbacks until this hits maybe even 110.

I realize you are also in a similar position and I want to know is what your plan is if you do not get the pullback. I know it is not an easy question to answer.