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thomthom
Joined: 20 May 2011
Posts: 125
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 Posted: Sat Dec 29, 2012 7:56 am Post subject: Japanese YEN at 27-month low. The right time to purchase? |
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The Japanese Yen, due in part to Prime Minister Shinzo Abe's policies, but largely to the state of the economy as a whole, is at a 27-month low:
http://www.bbc.co.uk/news/business-20849204
So it seems like this would be a good week to exchange USD or GBP or EUR for Yen.
Personally I won't be going to Japan for another 3 months, but I'm tempted to buy now. I wonder, though: will it drop any further? You wouldn't have thought the Yen could get much weaker, but...
Thoughts? |
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rxk22
Joined: 19 May 2010
Posts: 1629
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| Posted: Sat Dec 29, 2012 4:03 pm Post subject: |
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| I would wait. Abe is planning on devaluing the yen quite a bit. It will def go down in the next 3 months |
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Cool Teacher
Joined: 18 May 2009
Posts: 930
Location: Here, There and Everywhere! :D
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| Posted: Sun Dec 30, 2012 1:12 am Post subject: |
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I think we would bne millionairs if we knew about the money markets.   |
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mitsui
Joined: 10 Jun 2007
Posts: 1562
Location: Kawasaki
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| Posted: Sun Dec 30, 2012 1:36 am Post subject: |
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Wait and see.
February might be a good time.
The yen tends to strengthen in March as Japanese overseas buy yen at that time. Companies tend to repatriate money. |
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rxk22
Joined: 19 May 2010
Posts: 1629
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| Posted: Sun Dec 30, 2012 3:03 am Post subject: |
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| Cool Teacher wrote: |
| I think we would bne millionairs if we knew about the money markets. |
Haha, yeah for reals, we would be.
I think with the policies in place by Abe, ie 2% inflation is going to devalue the yen a bit more than QE3 will devalue the dollar. At least until March. |
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Pitarou
Joined: 16 Nov 2009
Posts: 1116
Location: Narita, Japan
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| Posted: Sun Dec 30, 2012 10:16 am Post subject: Re: Japanese YEN at 27-month low. The right time to purchase |
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1. Is there any possibility of a change of plan? Don't buy your Yen until you're 100% sure you'll need them.
2. You may not see it this way, but the truth is you're proposing to engage in a kind of currency speculation and, for us ordinary guys, that means gambling. If you want to gamble, sure, go ahead, but don't kid yourself that this is some kind of sober investment. |
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thomthom
Joined: 20 May 2011
Posts: 125
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| Posted: Mon Dec 31, 2012 11:04 am Post subject: Re: Japanese YEN at 27-month low. The right time to purchase |
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| Pitarou wrote: |
| Is there any possibility of a change of plan? Don't buy your Yen until you're 100% sure you'll need them. |
Indeed, I only have my COE to apply for a visa, not the visa itself, so I won't exchange any currency until I've got the real visa. In any case if my school spontaneously combusted I'd still probably go to Japan in the hope of finding work. |
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Pitarou
Joined: 16 Nov 2009
Posts: 1116
Location: Narita, Japan
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| Posted: Tue Jan 01, 2013 1:25 pm Post subject: Re: Japanese YEN at 27-month low. The right time to purchase |
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| thomthom wrote: |
| Pitarou wrote: |
| Is there any possibility of a change of plan? Don't buy your Yen until you're 100% sure you'll need them. |
I only have my COE to apply for a visa, not the visa itself |
Sorry if I sound like I'm contradicting myself but, to the best of my knowledge, if you've got the CoE then you've effectively got the visa. Even if the school blows up, you'll still get it. |
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thomthom
Joined: 20 May 2011
Posts: 125
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| Posted: Tue Jan 01, 2013 3:53 pm Post subject: Re: Japanese YEN at 27-month low. The right time to purchase |
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| Pitarou wrote: |
| to the best of my knowledge, if you've got the CoE then you've effectively got the visa. Even if the school blows up, you'll still get it. |
Yeah I suppose so, I'm as good as there. Still, from what people are saying it does seem as though the Yen might keep dropping further for another month or two. It was 139� to �1 when I posted.. now it's 141�. I'll keep waiting! |
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stumptowny
Joined: 29 May 2011
Posts: 310
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| Posted: Tue Jan 01, 2013 5:38 pm Post subject: Re: Japanese YEN at 27-month low. The right time to purchase |
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| thomthom wrote: |
The Japanese Yen, due in part to Prime Minister Shinzo Abe's policies, but largely to the state of the economy as a whole, is at a 27-month low:
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Abe's entire platform has been to take the yen down further. at all costs. sucks for us transferring yen out of japan back home. "international remittances" (they really needed to learn "transfer" in their eigo biz lessons. I think it's the same teacher who taught them christmas 'illuminations', not christmas lights) and what have you are killing me!
strategizing when to exchange currency for yen before coming over is wise. it's going your direction... I'd wait if I were you. no brainer. volatility has been non-existent on a % basis for a couple years now. it's not a perfectly timed entry into a penny stock position. anyone stating that this strategy is an investment vehicle, given your situation, gives away naivety.. |
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thomthom
Joined: 20 May 2011
Posts: 125
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| Posted: Tue Jan 01, 2013 9:13 pm Post subject: |
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| Indeed I'm rather hoping the value of the Yen shoots back up again when I'm actually in the country and getting paid! But if it drops any further I'll stand to gain almost a month's rent worth of money compared to what the rate was 3 months ago. |
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Cool Teacher
Joined: 18 May 2009
Posts: 930
Location: Here, There and Everywhere! :D
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| Posted: Thu Jan 03, 2013 8:57 am Post subject: Re: Japanese YEN at 27-month low. The right time to purchase |
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| Pitarou wrote: |
1. Is there any possibility of a change of plan? Don't buy your Yen until you're 100% sure you'll need them.
2. You may not see it this way, but the truth is you're proposing to engage in a kind of currency speculation and, for us ordinary guys, that means gambling. If you want to gamble, sure, go ahead, but don't kid yourself that this is some kind of sober investment. |
^This :>
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kah5217
Joined: 29 Sep 2012
Posts: 270
Location: Ibaraki
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| Posted: Thu Jan 03, 2013 9:28 am Post subject: Re: Japanese YEN at 27-month low. The right time to purchase |
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| thomthom wrote: |
| It was 139� to �1 when I posted.. now it's 141�. I'll keep waiting! |
That sounds a lot better than 87� to $1.  |
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thomthom
Joined: 20 May 2011
Posts: 125
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| Posted: Thu Jan 03, 2013 2:01 pm Post subject: |
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| The Yen is up against the USD/GBP today for the first time in a while. Hope the tide isn't turning, might have to buy if it's up again tomorrow. |
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rxk22
Joined: 19 May 2010
Posts: 1629
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| Posted: Thu Jan 03, 2013 9:43 pm Post subject: |
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| thomthom wrote: |
| The Yen is up against the USD/GBP today for the first time in a while. Hope the tide isn't turning, might have to buy if it's up again tomorrow. |
Dude be patient. Its short term and prolly a random rally, not a long term trend. People ade prolly just profit taking |
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