Thread: USDJPY Flash Crashes All Support Taken Out: Record Collapse

USDJPY Flash Crashes As All Support Taken Out - Record Collapse

Submitted by Tyler Durden
03/16/2011 17:04 -0400

Support broken as the dollar yen plunges to an all time record low. Everyone now watching the Nikkei to see if it opens. That the BOJ has not intervened yet is beyond ominous, and nothing short of a death sentence for the Yen carry traders.



http://www.zerohedge.com/article/usdjpy ... d-collapse

USDJPY Goes Bidless

Submitted by Tyler Durden
03/16/2011 17:17 -0400

One can only watch this devastation with horror. USDJPY drops to 76. Unbelievable. Many Wall Street FX desks are blowing up right at this moment.





Update:



http://www.zerohedge.com/article/usdjpy-goes-bidless

Â¥55,600,000,000,000

Submitted by Tyler Durden
03/16/2011 16:02 -0400
114 comments

That's the total amount of money rumored to be injected by the BOJ in order to keep the Nikkei going for a whopping 4 days. According to PTI the BOJ has offered to add an additional ¥13.8 trillion today, to go with the tens of trillions already noted previously on Zero Hedge. If proven true, this would bring the total taxpayer backstop injected in just 4 days to $700 billion dollars! This whole exercise to keep the bank holiday away is starting to be just a little expensive to Joe Peasant.

From PTI:

The Bank of Japan has offered an additional 13.8 trillion yen (some USD 170 billion) to money markets, bringing to 55.6 trillion yen the total emergency funds made available by it to protect the nation's banking system from the negative impact of Friday's massive earthquake.

Japanese authorities admitted that the unusual step to drop water from twin-rotor CH-47 helicopters to cool overheating pool containing spent fuel rods would not resolve the multifarious problems confronting them. These rods are still radioactive and as dangerous as the rods inside the reactors.

"It's not so simple that everything will be resolved by pouring in water. What we are trying to do is to avert other problems, said Edano.

India's top diplomat in Tokyo said all Indian nationals in Japan are safe and that efforts are underway to facilitate the return of those wishing to leave the quake-ravaged region.

A group of Indians stranded in Sendai, one of the worst- affected in the quake and the devastating tsunami, have been moved to Tokyo, Indian Ambassador Alok Prasad said.

He said the Indian mission has set up a 24-hour helpline and has been giving regular updates on its website.

Reflecting the mounting international concerns, France has asked its nationals in Tokyo to leave the country or move south.

http://www.zerohedge.com/article/%C2%A555600000000000

Market In Freefall As USDJPY Takes Out Stops, S&P Now Negative For The Year

Submitted by Tyler Durden
03/16/2011 14:16 -0400
180 comments

Just a few more pips in the USDJPY and we are in uncharted territory. Below 79.75 in the USDJPY there is little support, except for the BOJ. Flash crashes in assorted index tracking futures are being witnessed everywhere, with an emphasis on Europe. In the meantime, following the rush to safety (in the Yen), the market is plunging to day lows, and the S&P has just turned negative for the year.



http://www.zerohedge.com/article/market ... ative-year