Comments on: USD/JPY/EUR: The three ugly sisters

By: Chngster

Chngster — Tue, 18 Jun 2013 02:25:56 +0000

Given the double inside days in USDJPY, i suspect a false breakout in both directions at least initially. What happens after the first hour frenzy is less clear. If the Benank is as dovish as the markets expect,will we see profit taking from the USD bears based on “buy the rumour sell the fact”?

If the USD bears are correct, shouldn’t USDJPY continue to grind down — why is the USD/JPY showing resilience over the last day or two?

By: anil

anil — Tue, 18 Jun 2013 01:56:58 +0000

As someone says——–logic seldom works in fx market as speculators always want to play against the market
Hence,my logic wl not work.Hence, I am more in yr camp of thinking
Thank you

By: Sean Lee

Sean Lee — Tue, 18 Jun 2013 01:46:21 +0000

Don’t see it that way Anil, but again a lot depends on what level its trading at. If it has already broken below 9200 say then doesn’t matter what they say or do, there will be huge positional liquidation. Whereas if 9340 support is holding really firm, then we will see a rally regardless. Levels as always are most important mkt issue

By: ANIL

ANIL — Tue, 18 Jun 2013 01:34:20 +0000

TAPER OR NOT TO TAPER
Be grateful if u can clarify
U say —If Fed begins to taper then that should be initially USD/JPY bearish as risk-off trades will be in vogue.

ForexLive says Perhaps a taper or two from the Fed on Wednesday will give USD/JPY some new life

MY READING If Fed tapers–> fed is bullish—>U$ bullish—hence $/y bullish

Tks

By: mike

mike — Tue, 18 Jun 2013 01:29:48 +0000

nice points.

But Fed will eventually start tapering, sooner the better.