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USD/JPY Forecast 13/11/2013 Q&A Live with Matthew Taylor

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Here is USD/JPY Forecast for 13 Nov 2013, post all your questions and Matthew Taylor will provide you with accurate answers

USD/JPY Forecast 13/11/2013

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RollerBuzz's picture

How exactly us stocks affect usdjpy?

RollerBuzz
Matt T.'s picture

Global stocks are a risk asset, every decline in major markets is usually associated with a rally in the JPY (hence a decline in USDJPY). The country has a huge savings culture and Japanese funds tend to take profits abroad when stock market sell-offs occur. So when they close their stocks positions they repatriate profits home and exchange money back to Japanese Yen.

Matt T.
RollerBuzz's picture

For today we should by calls hourly or for the end of the trading day?

RollerBuzz
Matt T.'s picture

At this point in time I would be buying hourly calls only if the price dips to levels around 99.70-80. Same on a dily basis, if you missed the train, don't try to catch it from the top. that said I am of the opinion that the USDJPY could rally somewhat more during the next couple of weeks, provided that we see no major sell-off in risk assets.

Matt T.
RollerBuzz's picture

What shows the yellow line on the chart?

RollerBuzz
Matt T.'s picture

Hi RollerBuzz,

The yellow line on the chart is a simple moving average for 20 periods. You can use it sometimes to provide support or resistance, but I wouldn't rely only on it.

Matt T.
Anthony Stanley's picture

nice conversation...

Anthony Stanley
Connor Bruce's picture

Very nice thread and discussions...

Connor Bruce (not verified)