3m 1s: Lenght

NOT TOO LATE TO GO INTO THE USD/JPY TRADE - ANALYST Bank of Japan minutes today revealed a rift among members over the governor's ambitious goal of reaching 2% inflation in two years. Japanese stocks also took a hit with the Nikkei down 3.2%, while USD/JPY remained steady. But the yen will continue to go higher according to IronFX Head of Global Strategy Marshall Gittler, and investors will have a good opportunity to sell soon. SHOWS: LIMASSOL, CYPRUS (MAY 27, 2013) (REUTERS - ACCESS ALL) 1. : GLOBAL HEAD OF FX STRATEGY AT IRONFX, MARSHALL GITTLER, SAYING: " (QUESTION: Marshall, USD/JPY steady today but it still has a 100 handle. Are we going below 100 this week, do you think?) I think it's possible. Things tend to keep - there's some momentum in this trade and as long as we have instability in Japan, I think people will be selling USD/JPY. There's a very close correlation, positive correlation between USD/JPY and Tokyo stocks. They move up together, they move down together. But the thing is, once- if it does break 100, I think there's a lot of pent-up demand for people to buy the pair. That's been one of the great trades. It's come down a bit. There may have been some people who missed the boat and the boat's come back for them. So I think if it does break through, people will think of that as a buying opportunity and get back in. (QUESTION: Okay. That said though, as we heard from the minutes today from the BOJ, not even the policymakers themselves are convinced that their goals will be met.) Well, they said a few people had some doubts. A few is a code word for two. I don't think two out of nine is such an overwhelming view. And it's early days, they just started, they just started- they launched this new policy in April. Plus, you've got a lot of things coming. They could be positive especially in the summer. You have the Tokyo Metropolitan elections, you have the Upper House elections. These are likely to boost Mr. Abe's hand, strength in his hand. And then he can launch into what's really important for th...