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FX trading EUR/JPY 2007

Posted by Adrian on January 9, 2007

What a decline, speculating that the Euro was going to reach 160.00; the Euro sharply drops straight down to 153 Yen. All in a matter of a few days! This is all due to a possible interest rate hikes from the Bank Of Japan. See how volatile trading is! A lot of people got spooked and started selling off the Euro. I am still got a long for 160.00yen. Bank of Europe may increase rates in March, this will further strengthen the Euro.  Bank of Japan may increase their interests rates on Jan 18, this is a 75% chance they will do this, according to a Bloomberg report.

I suspect there weill be a surge again in buying of the Euro, prior to Jan 18.  You might see a sharp drop in the coming days to the 18th.

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