Deal reached on financial markets bailout…….SHORT THE YEN!!!!
September 28, 2008
How much you want to bet that all the JPY pairs gap up at the open on Sunday/Monday……………..our best advice…………..go long on a retracement that fills or comes close to filling the gaps. Stock Markets around the globe are going to rally on Monday……………Tuesday, I don’t know……………..but Monday………the Nikkie will be up huge.
This announcement will at least temporarily remove some risk aversion from the currency markets, which usually means, JPY depreciation and to a lesser extent, CHF depreciation.
Peace
forexreality
mediagrabber
ffxts
Working Marketer
September 28, 2008 at 5:15 am
Are you sure??
September 28, 2008 at 5:25 am
What do you mean, am I sure? About the Yen?
Of course I’m not sure bentoet,……..the only thing I’m sure of is that the sun will rise tomorrow, but it is my opinion.
That is what usually happens when a major risk event or condition is removed from the market, the carry trade is back in and the Yen goes down against most currencies.
How long will it last? Who knows…… Maybe by the time Europe opens Monday, the markets start showing doubt for the plan, they start to sink, and boom……no more carry trade, Yen goes up in value…….markets are dynamic, you know that…….oh there si one more thing I’m syre about……….the FX market opens in 11 hours, 37 Minutes.
Cheers
September 28, 2008 at 4:48 pm
Your were correct bentoet……….most JPY pairs are gapping doen in early trading in Asia…….kudos