JPY- long term !!

[ronnimar]

the fact that the jpy visited twice in the area !!
(dosen't mean that there will be third time ?!) but i think as the corrective wave B unfold.
there is a high probability that it will !!?
imo, the japanese government will intervene by raising the interest a bit !?

[yardie]

BUt raising interest rate will result in the JPY strenghtening even more no?

[ronnimar]

the short term interest rate differential between the $ and the jpy.
is slowly eroding.because the jpy interest is expected to creep up.
a lot depends on boj and there policy of accommodation.
imo the rate will be raised by 0.25% at the most.
and................. i dont think that the fed will sit tight !!!

so imo, by the turn of the year.the jpy 100 +/-

[yardie]

What about the eurjpy?

[ronnimar]

imo,the jpy is at the end of the correction ?!
and wave 5 is imminent.

[golhuntsleep]

as of Friday's move up, I show it in a 5th subwave of a 5th, which would be a C wave and deep in a rising wedge.......should not see 113.00 out of this move, we'll see if we get a 3,3,5 corrective or a 5,3,5 move down...if we get the later, we may have seen wave 1 and 2 form late last week on our way to 105.00 ish. Thoughts?????????

[golhuntsleep]

as I look further, I think we may see 114.50 ish. then wave 5 down.......

[golhuntsleep]

took 40 pips on wave A....going to let wave B do it's thing and pick up wave C around 112.40....for 40 more or so.....then long again