JPY 01 (May 08 - Oct 11)

[kennynah]

and...79.30....and going...

[winston]

Not vested. I guess a pea-shooter can also do some damage, if they are able to shoot u exactly in the eye ..


DJ MARKET TALK: USD/JPY Jump Suggests Very Large USD-Buying - MUFG

0209 GMT [Dow Jones] The large jump in USD/JPY suggests that the MOF's USD/JPY buying has so far been "very large," says Sumino Kamei, senior analyst at Bank of Tokyo-Mitsubishi UFJ, as dealers say the overall amount could eventually rival the more-than Y4 trillion in yen-selling conducted in August.

"The sharp, large jump in the dollar-yen would suggest that this was a very large amount," Kamei says.

The USD/JPY touched an intraday high of 78.98, jumping from around 75.65 just before the intervention, and is now at 78.26.

Dealers say immediate resistance is likely around 79.00 due to selling demand from Japanese exporters, amplified by month-end settlement needs.

Source: Dow Jones Newswire

[kennynah]

52

[eauyong]

Talked big....AZUMI: Yen intervention will continue until "he's satisfied"

[kennynah]

i'm expecting one last push up...and then play over

[kennynah]

i tell you...if the japs refuse to relent in buoying jpy up by london open....plenty of margin calls will happen, resulting in massive short covering...

in fact, no need to wait until 9am london... money traders begin as early as 630am... 3.5 hours away

and for the last 20 mins...sellers are scared stiff... selling depleted..

[winston]

not vested

DJ MARKET TALK: MOF Aims For USD/JPY At 80.00, But No Easy Task - CA

0233 GMT [Dow Jones]Japan's Ministry of Finance is likely aiming to move the USD/JPY up to around 80.00 with its latest round of USD-buying/JPY-selling intervention, but it would have to maintain very large rounds of continued USD-buying throughout the day, in order to keep the pair from pulling back down, says Takahiro Sekido, chief Japan economist at Credit Agricole.

The most likely scenario is that the pair ends NY trade later back around 77.00-78.00 as it "soon faces time decay," he says.

"While a resolution to the European debt problems is expected this week, there are still uncertainties over the European situation at this point," he says, with continued safe-haven demand boosting the JPY.

Source: Dow Jones Newswire

[kennynah]

no one in the right mind will go against any government intervention during the day....

no offence intended to anyone..

[winston]

Japan intervened to stem yen's climb: finance minister by Tetsushi Kajimoto and Kaori Kaneko

TOKYO (Reuters) - Japan intervened unilaterally in the currency market to weaken the yen, after it scaled another record high against the dollar on Monday, Finance Minister Jun Azumi said.

Tokyo's foray into the market -- it's second in less than three months -- follows repeated warnings by policymakers that they were ready to act, to prevent the yen's strength from hurting the world's third largest economy.

The dollar spiked more than 3 percent to as high as 78.55 against the yen from around 75.65 yen and a record low of 75.31 yen touched earlier on Monday.

Azumi told a news conference the solo intervention started at 10:25 local time (9:25 p.m. EDT). He declined to comment on the size of yen-selling, but added Tokyo would continue to intervene until it was satisfied with the results.

Azumi told reporters earlier that he was ready for "firm measures" and described the latest currency moves as speculative. He said there was no specific reason driving the yen to its latest record against the dollar.

"I have said many times, if forex moves do not reflect the economic fundamentals and speculative moves last, Japan will take firm measures," Azumi told reporters.

Japanese corporate executives and policymakers have voiced increased alarm over the yen's steady climb past a succession of records, largely driven by safe-haven flows fueled by continued uncertainty about Europe's ability to contain its debt crisis.

Source: Reuters US Online Report Top News

http://www.newsmeat.com/news/meat.php?a ... &buid=3281

[kennynah]

i'm guessing everyone is calling their anoneh contacts to see if the buying is over...

802 : any 风声 from your end on this?