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USD / JPY goes over 100 .. I lose big :(


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samatm

Ok so I went to my trading account on  oanda  and noticed  that  the USD was spiking against the JPY  so i initiated a quick sell (short) at 30:1 leverage.  I was thinking that the spike was indeed very irrational and would come down as quickly as it had risen and i would  make tidy profit in a matter  of  minutes or hours....  The blasted thing never came down, spiked higer and settled in.   My short  order was automatically closed as I was  nearing the bottom of my  funds.       All that action cost me  .26  cents   nearly half of my assests in my account.       Now I pretty convinced that for the short term the  USD will continue to strengthen against the JPY and EUR.  Heck I might even go all out and risk $10 with a  50: 1 leveraged trade allowing me to buy 500 units.     Thoughts.

 

 

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thebob

Japan monetary policy may spark debate at G-7 as dollar surges over yen

 

Japan’s aggressive monetary easing policy may spark debate at a two-day meeting of the Group of Seven financial chiefs from Friday as the dollar surged to ¥101 in Tokyo for the first time in more than four years.

 

During the gathering in Aylesbury in the suburbs of London, the G-7 finance ministers and central bank governors are expected to reaffirm their February commitment that fiscal and monetary policies should be aimed at supporting domestic demand, not targeting exchange rates, a conference source said.

 

Some emerging economies are critical of the accommodative monetary policies by major advanced economies, particularly Japan and the United States, due to concerns of possible negative spillover effects, including massive fund inflows and the formation of asset bubbles.

 

The source said the G-7 will not be a venue where the Bank of Japan’s ultra-easy policy will spark heated debate. But the yen’s current rapid depreciation against the dollar could rekindle concerns that the BOJ’s bold monetary policy is actually aimed at driving the unit lower to boost Japan’s exports and economic growth.

 

On Japan’s economic and monetary policy, a senior U.S. Treasury official told reporters Wednesday in Washington that the United States is “closely monitoring” Japan’s efforts to boost domestic demand and looks forward to “further definition of the government’s plans to push ahead its ambitious structural reforms.”

 

Finance Minister Taro Aso and BOJ Gov. Haruhiko Kuroda may brief their fellow G-7 participants on Japan’s strategy for defeating deflation through its unconventional monetary policy.

 

On the global economy, the financial chiefs from Britain, Canada, France, Germany, Italy, Japan and the United States are likely to share the view that the U.S. economy is on a moderate recovery track, while the eurozone economy remains in bad shape.

“Strengthening European prospects is critical,” the Treasury official said.

 

The official also noted that increasing demand in countries with current account surpluses will provide relief to debt-ridden European countries and spur the global economy, indirectly urging Germany to step up efforts to boost domestic demand.

 

With regard to financial regulations, the finance chiefs are expected to reaffirm the need to implement new capital rules broadly agreed upon in 2010 under the so-called Basel III accord, as many G-7 members have yet to complete their domestic procedures.

 

http://www.japantimes.co.jp/news/2013/05/11/business/japan-monetary-policy-may-spark-debate-at-g-7-as-dollar-surges-over-yen/#.UY4nZZVj78s

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