Oct
24
The Old Man and the Sea, from Shui Kage
October 24, 2008 |
Nice time to read The Education of a Speculator.
The Yen is making an explosive move against both the Dollar and the Euro, not because the Japanese economy is doing comparatively better than US nor EU, but it is useful to make money. After all, all of the currency traders and investors want profits in their own currency, i. e Americans eventually want US$, Europeans want Euro and Japanese want yen. Soon as the game is over, the Yen will lose its popularity. There is no reason for Yen to be this popular for so long. My special best wishes to Victor and Laurel for good Yen trading. It is almost time for me to buy US$ and sell my Yen.
Comments
3 Comments so far
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You got me interested, Shui. Please share HOW you’ll be pulling trigger to play USD/JPY reversal
The yen strength is due to a massive unwinding of the carry, it’s been going on since last year.
Moreover, dollar/yen has been the laggard, the first out of the gate was sterling/yen, euro/yen, and aus/yen.
If you feel that way, its better to buy Euros, or Pounds, or the Loonie, or the Aussie against the Yen — the moves against these currencies have been far sharper.