Wednesday, 15 April 2009

NZD/JPY

Bought 1m NZD sold Yen at 57.70.
I am starting to build a position again in the NZD/JPY.
Target is 60.00 initially. Will reassess if 56.00 is broken.

5 comments:

thelonelytrader said...

I likey. But admittedly I'm short USDJPY currently. I'm looking for excuses to get long NZD again though.

Good luck!

Kiwi Trader said...

I am not so comfortable with this position now. The NZD/USD has interest rate cuts, a tough budget and a possible downgrade over May/June, and the USD/JPY is not going on with the moves above 100.00. So I may cut the position and look to re-enter, perhaps as an AUD/JPY. The NZD/USD around 0.5500 will be tempting though.

You should make money on your USD/JPY position, but I still see it a good deal higher in the longer term.

paul scott said...

Very interest dude,
I assume that lonely trader comments mean he would like to have NZ currency for the next year or so
this is a good idea.
New Zealand is emerging.
Dude; do you have any comment about NZ currency against Australia,
I love Australia but i see it as too expensive, after all, them Auatralians are just a bunch iof redneck true,

Kiwi Trader said...

I think that the NZD/AUD will have a look into the 0.7800 area, at the outside 0.7600. But it is overdone at those levels and should see a return to 0.8500 in the months ahead.
Basically there is an old adage, sell it over 0.9000 and buy it under 0.8000.

If you have done that over the last 30 years you will have had a few frights for a while but overall would have made a lot of money.

peterquixote said...

agree with the traders 90 cents 80 cents margins, wish I had traded with that knowledge, being poor is hell,