USDJPY future

[DollarBull]

Today Mitsubishi President blasted Japanese Government for allowing Yen to strengthen to the levels (81.00) that badly affect the balance sheet of his organization. This is just one visible salvo. There is a chorus of demand from Japanese business community to weaken the yen. Though BOJ announced plans similar to US Fed (to buy long term bonds) it hasn't had a similar effect on yen.

Thus, one can expect BOJ intervention in Yen time and again to stem the fall of USDJPY. They did that back in 2003, intervening some 30 times. The best advise is not to go short in USDJPY unless there are other reasons (like hedging).

[mfsforex]

We expect a range for today in USDJPY rate of 82.80 to 8.30 (Look like the pair is going nowhere in between 83.10 to 83.20 levels, this also indicate a major built up on LONG/SHORT position from major funds. Note break 82.90 will likely heading toward 82.50 or break 83.30 will likely to reach 83.80. We now setting a Long trade at 82.50, stop loss at 81.90, target at 83.30 to 83.80)

[TertGyperew]

You are reminding me of the time when you were giving us