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USD/JPY: market wants to buy but repatriations still capping

By Sean Lee  || March 16, 2010 at 23:25 GMT
|| 6 comments || Add comment

This is another pair which has me flummoxed at the moment. My tendency is to be short, despite the lowly level, but I think I’m in a minority as most other traders I speak with and whose opinion I value, seem quite bullish USD/JPY. In the short term, sales of the USD by Japanese corporations as they send profits home before the end of the financial year, continue to cap any rises and the offers are fairly heavy between 91.10/20 I’m told. Professional traders seem happy to buy dips as they anticipate an increased level of government intervention in coming months.

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6 Responses to “USD/JPY: market wants to buy but repatriations still capping”

  1. lilac on March 16th, 2010 23:29 GMT

    Well I still have high(er) hopes for eur/jpy ;)

  2. ben on March 17th, 2010 00:06 GMT

    I don’t want to appear impatient but what time does Japan explain its interest rate decision? It is not on the schedule.

  3. hart on March 17th, 2010 00:25 GMT

    Anytime now grasshopper. (ben)

  4. david on March 17th, 2010 00:27 GMT

    ben, I believe the BoJ does not have a hard and fast schedule that they stick to. So you have to stay glued to ForexLive :)

  5. ben on March 17th, 2010 00:34 GMT

    thank you, I’m nearly defecating trying to figure out where to put my stop in.

    Since they’re making us wait, maybe something really good (bullish usd/jpn)

  6. david on March 17th, 2010 00:47 GMT

    I suspect the BoJ is going to disappoint, myself. I too am long USD/JPY but more a long term play.



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