Comments on: USD/JPY: Very solid offers on interbank dealing systems at 80.20

By: SergaNet

SergaNet — Thu, 25 Oct 2012 10:46:54 +0000

I think that on yen, the market now waits for results of meeting on October 30. To guess certainly it is difficult, but I think that key decisions at this meeting it will be accepted not, it happens later, most likely after elections in Japan.

By: Iridium

Iridium — Thu, 25 Oct 2012 10:20:48 +0000

Just to add a little contrarian view (to my and your view):

http://www.ft.com/intl/cms/s/0/f8a7f35c-1e6c-11e2-be82-00144feabdc0.html#axzz2AIwS7mI2

Seems we could be on the edge for japan.

“Each year, the MoF holds five meetings with the biggest 25 primary dealers in the JGB market to discuss their concerns. Friday’s special meeting is the first to be called by the dealers, said Ms Shirota. According to the regular schedule, the next meeting was due to be held in mid-November.
Already, there are signs of tension in the bond market. While short and medium-term bonds remain stable, the extra yield that investors demand to hold 20-year government bonds instead of 10-year bonds has increased to 92 basis points, the most since July 1999, according to Bloomberg. Longer-term bonds tend to be more sensitive to questions of fiscal sustainability, say traders.”

By: SergaNet

SergaNet — Thu, 25 Oct 2012 10:09:00 +0000

In reply to Sean Lee. >On the monthly schedule I have a Sean still a mark 81.07 where I agree to sell USD/JPY.

By: Sean Lee

Sean Lee — Thu, 25 Oct 2012 09:30:45 +0000

Agree with you on that Serga, sell any rallies towards 80.60 but momentum might pick up above there

By: SergaNet

SergaNet — Thu, 25 Oct 2012 09:26:33 +0000

I welcome, Sean!
USD/JPY in my opinion now the most interesting pair for game. Can sell from 80.61 the best time?