Japanese Yen...
#1
Posted 16 January 2007 - 05:29 AM
#2
Posted 16 January 2007 - 06:32 AM
~ Johann Wolfgang Von Goethe ~
#3
Posted 16 January 2007 - 07:34 AM
It should indicate a trend chnage. It's difficult for Janpan to maintain a 0% rate while other central banks are raising rates.Hi all,
Although rates are 'likely' to rise in Japan this week,i'm not getting too excited about a possible trend-change in the currency anytime soon..(as charts never go up/down in a straight line,best i can hope for is some sort of 'correction' imvho)......Looks like a 0.25bp rise this week will be all we'll get for the first half of this year...(barring any shock/out of the blue rate-rises in the meantime of course)
As for the charts.....I'm watching the GBP/Yen & Euro/Yen crosses (longterm/monthly 'line' charts).
The GBP/Yen chart is right at a key resistance level at 236+ from 1998.
The Euro/Yen has a bit further to go to reach the 160+ key chart level also from 1998.
I'm still watching/waiting for an opening to 'buy' the Yen.......Further evidence of a global slowdown would help me i reckon...Probably means Japan would have to carry(pardon the pun) their load regarding their currency(let it rise against others)...imvho
Regards.V
#4
Posted 16 January 2007 - 09:19 AM