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11/02/2007

Again about Yen

In spite of the small correction my opinion is that GBP/JPY will go up. Right now I am searching for the level to buy, most likely I will buy it before the Nonfarm Payrolls.

There is an absence of link between GBP/JPY and Nonfarm Payrolls but intuitively feel that right after the news Yen will go down against the European currency. If it goes higher than 240 I will close the position partially and will wait for 255 with the small volume.

Speaking about USD – still watching and thinking. The situation is controversial. There is only one thing I can say – even if dollar goes down, USD/JPY will go up or stay the same.

Update: Buy GBP/JPY 238.98. And go to sleep :)

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