AUTOREFRESH 
If you’re short USD/JPY or JPY crosses, be very careful
By Sean Lee || December 1, 2009 at 04:59 GMT
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The BoJ and the Japanese government are now starting to see the world in the same light and they see that it is becoming necessary that they take some steps to fight against deflation and the strong JPY. What these measures are, we don’t know yet, but if they start to work in unison then they can seriously move markets. I’m out of my JPY positions and if we’re still at the same levels tomorrow morning, then I’ll reinstate. I may be a chicken but that’s the best way to survive in these markets; first and foremost play a good defence.
Thanks Sean. Am in the same predicament. Had a good 300 pip gain from shorting at 142.9. Lost everything when I was greedy… Now sustained a minor loss but better to lose some than to lose all..
actually i have 3 buying position which is very emotional @ 88.2, @87.15 and @ 86, should i close or should i leave it open?
My logic was that the danger is now on the topside so that’s why I’ve cut and I will leave totally alone now until the outcome of this special BoJ meeting is known. If they announce an aggressive QE and then the MoF start intervening, USD/JPY could be 90.00 bid by tonight. That’s too risky for me so while I’m bearish still USD/JPY, I’m taking my ball and going home until tomorrow.
I close my 86 position, i don’t like this move it seems Japan against the World