Week of April 4 – April 8, 2011
By Mark So on April 3, 2011
Sunday, April 3, 2011
3:00 PM Philippine time
I said last week:
“The JPY should fall, and fall heavily. We are now at the stage where the JPY should start falling as risk appetite is returning (somewhat) with the media now focusing on other issues in the world.”
Well, last Friday’s flurry of activity following the US Non-Farm Payroll report and Unemployment reports made me look very prophetic — but a bit late to come to the party as the move happened 2 weeks ago when the G7 intervened to weaken the Yen. The Yen had forged a bottom and hasn’t looked back since. I wanted to re-enter my Long term CAD/JPY and AUD/JPY trades if it had dipped again to 76 or thereabouts but it never happened. Now both of them are trading at 87+. Well, that’s the price you pay for being prudent in a market that violently punishes and unfairly rewards those who are anything but. I had the right idea, I had the right timing. If only I could predict Earthquakes, Tsunamis, and Nuclear meltdowns.
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