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The BoJ now faces a dilemma: Do they protect the Yen with higher interest rates? Or protect the Japanese government bond market with lower rates.
They cannot do both.
https://www.zerohedge.com/markets/yen-carry-trade
Very little talk about the JPY these days, but this one continues taking out big levels.
https://www.zerohedge.com/the-market-ear/3-jpy-charts-we-are-watching
BOJ's Tamura Calls for Raising Rates to at Least 1%
https://money.usnews.com/investing/news/articles/2024-09-11/bojs-tamura-calls-for-raising-rates-to-at-least-1
The Japanese yen still poses ‘a very big risk’ to global markets. Here’s why:
https://www.marketwatch.com/story/the-japanese-yen-still-poses-a-very-big-risk-to-global-markets-heres-why-f0e949b5?mod=bnbh
Dollar Global Margin Call In Progress:
https://www.financial-reality.com/post/dollar-global-margin-call-in-progress
‘Strap In’—Fed Suddenly Braced For A U.S. Dollar ‘Crisis’ That’s Predicted To Spark ‘Total Collapse’ And A ‘Critical’ Bitcoin Price ‘Tipping Point’
https://www.forbes.com/sites/digital-assets/2024/09/02/strap-in-september-fed-us-dollar-crisis-predicted-to-spark-total-collapse-and-a-critical-bitcoin-price-tipping-point/
Powell summary:
Confirms Sept rate cut
Does not indicate whether 25bps or 50bps;
As such the August payrolls report will be critical
Mac10: "Last night, Ueda was hawkish saying more rate hikes are coming. And this morning Powell and the other Fed members were ultra dovish saying rate cuts are coming."
Perfect conditions for the biggest crash in history.
JDario: "A kind reminder to all those currently cheering at Jerome Burns words" 👇🏻
https://justdario.com/2024/08/if-the-fed-cuts-rates-the-damages-will-be-far-greater-than-the-benefits/
Mac10chart
BOJ’s Ueda Is Set to Face Intense Scrutiny After Market Chaos:
https://finance.yahoo.com/news/boj-ueda-set-face-intense-223054336.html
meanwhile Powell to give a likely dovish speech at Jackson Hole...
https://justdario.com/2024/08/if-the-fed-cuts-rates-the-damages-will-be-far-greater-than-the-benefits/
SHORT TERM: BOJ is between a rock and a hard place:
🚩If JPY > ~162 vs USD = Japan economy collapses
🚩If JPY < ~145 vs USD = JPY Carry Trades hours of cards collapses
LONG TERM: JPY > 300
Did the Yen Carry Trade trigger a "Minsky Moment"?
YEN RISES; MARKETS COLLAPSE
https://ibankcoin.com/flyblog/2024/08/20/yen-rises-markets-collapse/
Let's update that wild Monday Carry Trade Debacle !
Just how has the Yen now been doing ?
2 weeks later ;
https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=usdjpy&x=59&y=8&time=6&startdate=1%2F4%2F2020&enddate=12%2F30%2F2024&freq=1&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=3&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=9
Why it's almost as though those events never happened !
That's interesting. also Nikkei 37,388 -674 (-1.77%)
China, US Team Up on Contact Group to Handle ‘Financial Stress’:
https://finance.yahoo.com/news/china-us-team-contact-group-062337240.html
all the stars pointing towards a large broker being in trouble...
Wow look at that eh ?
I've noticed that you often post good info too.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174930534
Thanks
I've seen your charts on Bitcoin too. While I have mixed feelings on bitcoin, I must say you have some of the best-looking charts on ihub. Very well-prepared. That takes skill. Much better than my charts.
For viewing purposes, I do like the 3-month UDSPY chart.
BOJ is getting close to ending yield curve control. And with them having drawn a line in the sand at 150 via several currency interventions, I don't see much upside for the pair.
USD/JPY has retraced about 250 pips down to it's 50 day sma. A critical area of decision making.
The pair is powering to all time weakness levels just shy of 152.0. 151.02 at this minute. Up 1,400 pips since the first of May 2023
The Ninja pair closed the day at 150.46. This pair has been on fire and at daily resistance. And historically weak for the yen. https://www.forexlive.com/news/usdjpy-tags-15000-then-rebounds-eyes-on-the-bank-of-japan-20231102/
Japanese Yenhttps://tradingeconomics.com/japan/currency
Jul 13, 2013 — The Japanese yen held its recent decline past 147 per dollar, approaching a 32-year low of 150 hit in October last year as the Bank of Japan is expected to keep its ultra-loose monetary policy. ..
The Ninja pair powers up towards 150. Since October 2021 the pair has earned 4,500 pips if you were long.
The Ninja pair closed Friday at 146.46. This level is current daily price resistance. The macro daily price resistance seems to be near the 150 area.
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