Comments on: Yen too strong now.

By: admin

admin — Tue, 01 Dec 2009 18:50:31 +0000

For now. I still think that, for the moment, it is a corrective move to the sell of from last week, with next 2-3 days deciding.
http://fxmadness.com/2009/12/01/general/hot-topic/

By: Prudence

Prudence — Tue, 01 Dec 2009 18:38:08 +0000

“When they are vocal, they try to convince players to start selling Yen.” Looks like it worked.

By: Hot topic. | fxmadness.com

Hot topic. | fxmadness.com — Tue, 01 Dec 2009 17:22:29 +0000

[...] was “comfortable” with Japanese Yen, the currency is becoming center of attention. Recently Bank of Japan became vocalabout strength of JPY, and not in positive terms. Probably to prove their resolve, BoJ called an [...]

By: admin

admin — Tue, 01 Dec 2009 06:52:59 +0000

There is always a threat. If this bothers you, don’t trade Yen pairs, or only trade them on the short Yen side (long crosses).

By: Michelle

Michelle — Tue, 01 Dec 2009 05:54:28 +0000

Not an immediate threat then?

By: admin

admin — Tue, 01 Dec 2009 05:52:40 +0000

Not at the moment. When they are vocal, they try to convince players to start selling Yen. However, if they were to stop talking about it after a period of threats, then watch out. Like I wrote in the post, I think Yen would have to make new highs. This is just an opinion, though.

By: Michelle

Michelle — Tue, 01 Dec 2009 05:47:04 +0000

Do you think intervention in Yen is likely?

By: admin

admin — Tue, 01 Dec 2009 04:05:29 +0000

Hi Harvey,sometimes I use 100 SMA as a trendline and dynamic stop/resistance. Read more posts and you’ll find examples. Some time ago I used to trade 8 and 100 MA crossovers so I had them on all the charts. I got used to them on charts, so they remain in most cases. 100 is not optimal for my purpose, but after watching it on charts for years, I learned to “read” how price behaves around it. Frankly, you could use any value you want. Just a matter of getting used to it and learning peculiarities.

By: Harvey

Harvey — Mon, 30 Nov 2009 21:42:44 +0000

Do the moving averages help you to identify trades? If so, is there a particular reason you’ve chosen the particular values you have for the moving averages?