Dealers report heavy selling of USD/JPY which the bids at 97.50 have not quite been able to soak up, 42 the low so far. Corporate offers have been lowered so expect stiff resistance at 98.10/20 on any rally.
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Stops outweighing bids in USD/JPY
June 16 2009, 3:43am | Comments »
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99.00 to prove magnetic in USD/JPY
There were said to be some big option barriers at this level last week and I’m not sure whether they are still active or not but I am hearing of large stops above 99.00. Not much in the way of decent support in USD/JPY until around 97.40. There are not a lot of reasons to be long JPY in the current environment apart from risk-aversion so these stops may get triggered sooner rather than later.
June 14 2009, 11:59pm | Comments »
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Bigger players sniffing around USD/JPY
I had heard of some large bids at 97.25 in USD/JPY and that was the overnight low, seemingly confirming the chatter. The market is currently trading 97.33/35 and there is only a total of about 100 mio on the bid down to 97.21 and that is with Tokyo up and running. Maybe the rumoured bids aren’t as big as forecast. Usually the 5th, 10th, 15th, 20th and 25th are buying days for USD/JPY at the Tokyo fix but there is some talk that this might not be the case today. In summary, some of the more experienced interbank USD/JPY dealers are smelling a rat and they think that USD/JPY may be in for a fall this morning.
June 10 2009, 3:18am | Comments »
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Optimizing the forex trading system parameters: USD/JPY revisited
After important changes to the trading system optimization technique, I am revisiting the case of USD/JPY on the day scale. In this study, the extended range of the entry threshold parameter, same as in the previous EUR/USD study, is used. The extended, more conservative threshold values are seen to increase the returns while reducing the risk.
June 9 2009, 11:29am | Comments »
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