JPN-Currency

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114.33 versus dollar as of 8:13 PDT...good buying opportunity as Japan inflation numbers, domestic spending and proxy of China yuan will ultimately lead to the yen weakening to the 116.00 area within the next week of trading... add to this end of month positioning squaring...its a good opportunity if you trade currency...put a stop loss order at 113.66...and a limit order anywhere from 115.50 to 116.00...
 

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Bank of Japan positive on growth and price stability By David Pilling in Tokyo ft
"The Bank of Japan forecast a steady turn to price stability, with an expected rise in the core consumer price index of 0.6 per cent this financial year and 0.8 in the year to April 2008.
The bank said Japan's potential growth rate was higher than previously thought, at 1.5 per cent to 2 per cent a year instead of 1 per cent. It predicted real growth in gross domestic product of 2.4 per cent this year, slowing slightly to 2 per cent next year.
The predictions came after preliminary figures for April showed that the core CPI in Tokyo, considered a leading indicator for the country, rose 0.3 per cent against 0.2 per cent in the previous month. Nationwide figures for the year to April showed that Japan had inflation of 0.1 per cent, the first increase in eight years."

next week when the commodity margins get raised $yen will fall - the target of the curent pattern is 111.50 since breakout

also these numbers today will force exporters to hedge some more receipts

best of luck though
 

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113.66 done see what next week brings with golden week in japan
 

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done is right...looks like the ol greenback is heading south...just not sold yet on rate spreads narrowing as much as the market is counting on...both the ecb and boj...
 

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still looks soft at 111.50 looks like range now is 110.00/112.50 sell rallies
 

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