Boris and Kathy's FX Blog www.bktraderfx.com
10/27/2006
Today's Email Alerts
Alert # 2 Update
Over the past 48 hours our hosting provider experienced a major crash destroying our site. As you can imagine it has been a monumental struggle to get it reconstituted. On top of that our email service has been running delays so by the time we get the trade ideas out to you they have approached and sometimes even hit T1.
As we are still in beta stage we ask you to bear with us as we seek better technologies and avenues to get the information to you in a more timely manner. In the meantime as per EUR/JPY trade. Here is what we did for our own account. We took 1/2 the position and if we have continuation we will target T2 with 1/2 the position. We hope to have everything working by Monday but it may take a few days longer - so we ask for your patience as we work out the technical problems.
Alert #1 EUR/JPY - Time for the Turn
Although Japanese CPI came in soft today, most analysts from Japan believe that tonights' number was a one off affair and the underlying action in both price levels and wages is to the upside. Furthermore, Jaoan's “Mr. FX” vice finance minister for international affairs Hiroshi Watanabe noted that he did not expect further yen weakness given the economy's healthy fundamentals.
We believe that given the latest Japanese economic performance the case of higher short term rates is simply a matter of action delayed rather than action denied. Meanwhile euro is having some short term resistance at the 1.2700 level despite today's weak US GDP, so we think time is ripe for a turn in EUR/JPY. So we are going short EUR/JPY( Current price 149.85 ) Our Stop is 150.25 T1 is 149.63 T2 is 148.87
Alert # 2 Update
Over the past 48 hours our hosting provider experienced a major crash destroying our site. As you can imagine it has been a monumental struggle to get it reconstituted. On top of that our email service has been running delays so by the time we get the trade ideas out to you they have approached and sometimes even hit T1.
As we are still in beta stage we ask you to bear with us as we seek better technologies and avenues to get the information to you in a more timely manner. In the meantime as per EUR/JPY trade. Here is what we did for our own account. We took 1/2 the position and if we have continuation we will target T2 with 1/2 the position. We hope to have everything working by Monday but it may take a few days longer - so we ask for your patience as we work out the technical problems.
Alert #1 EUR/JPY - Time for the Turn
Although Japanese CPI came in soft today, most analysts from Japan believe that tonights' number was a one off affair and the underlying action in both price levels and wages is to the upside. Furthermore, Jaoan's “Mr. FX” vice finance minister for international affairs Hiroshi Watanabe noted that he did not expect further yen weakness given the economy's healthy fundamentals.
We believe that given the latest Japanese economic performance the case of higher short term rates is simply a matter of action delayed rather than action denied. Meanwhile euro is having some short term resistance at the 1.2700 level despite today's weak US GDP, so we think time is ripe for a turn in EUR/JPY. So we are going short EUR/JPY( Current price 149.85 ) Our Stop is 150.25 T1 is 149.63 T2 is 148.87
posted by BKTrader # 10/27/2006 11:30:00 PM 
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