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when is the best time to get yen currency? 2012/12/3 14:56
I am going to Japan for a holiday and I am wondering when is the best time to change my local cutrrency into yen. I heard that there was a recent fall in yen due to the upcoming election in which the oppostion party is expected to win. I am wondering if any Japanese people can tell me if the yen is expected to fall further (I hope so!) Or will it rise???
by tinkerbell (guest)  

... 2012/12/3 23:55
No one can 100% accurately predict what the exchange rate will be.

If they could, they would at least need to know what your local currency is, and what date you go on your holiday.

USD JPY Chart
http://www.finance.yahoo.com/q/bc?s=USDJPY=X
USD GBP Chart
http://www.finance.yahoo.com/q/bc?s=GBPJPY=X
by GC3 rate this post as useful

... 2012/12/3 23:56
if the yen is expected to fall further (I hope so!) Or will it rise???

Yes.
by GC3 rate this post as useful

Re: when is the best time to get yen currency? 2012/12/4 15:35
Since newspapers often run surveys leading to the poll, I wonder if those who keep in touch with political news have any inkling to the fall or rise in yen. I am sure a lot of tourists are waiting for it to fall. Haha!
by tinkerbell (guest) rate this post as useful

Re: when is the best time to get yen currency? 2012/12/4 15:50
Hi GC3,

I may sound silly, but could you kindly tell me how do I interpret the graph??? I clicked on your first link.
by tinkerbell (guest) rate this post as useful

... 2012/12/4 16:18
I'm assuming it is showing you the past 12 months. So it shows how many yen you would get if you paid US$1 for each day of the past 12 months. Currently you get around 82 yen per US$1. In September you got 78 yen per US$1. In April you got around 83 yen per US$1.

The currency has not been moving much really over the past 12 months. Even if you compare the lowest of 76 with the highest of 83.

Let's say you spend the equivalent of 400,000 yen in Japan. At 76 yen per US$1 (ie in Feb 2012) that would cost you US$5260. At 83 yen per US$1 it would have cost you US$4820. So across the whole year the difference between the high and low is US$440 which is less than 10%.

In summary, don't worry about it too much, just exchange when you are ready to go.
by GC3 rate this post as useful

Re: when is the best time to get yen currency? 2012/12/4 16:43
Sasuga GC3 san! With your clear explanation, now I understand the chart. Thanks so much!


Psst... I still think the difference of a few hundred dollars is a lot. Maybe it is because I do not have so much money to change. Heh heh...
by tinkerbell (guest) rate this post as useful

Re: when is the best time to get yen currency? 2012/12/4 17:56
$ is currently overbought (versus \) on a short term basis. This overbought condition has been partially in the past few days and the currency cross is now consolidating around the level of 82\ per 1$. If it breaches 82.7, it's highly likely that it will test the next resistance zone between 84-5\ per $. If it goes over that one, then it's off to the races.

The currency markets are getting spooked by the prospects of Mr. Abe get his way with the BOJ.
by SEA monster rate this post as useful

Re: when is the best time to get yen currency? 2012/12/4 17:58
Correction: This character \ was supposed to show up as the sign for yen.
by SEA monster rate this post as useful

Re: when is the best time to get yen currency? 2012/12/4 18:06
Correction II: (I must be getting dysgraphic). The text was supposed to read as:

This overbought condition has been partially relieved in the past few days and the currency cross is now consolidating around the level of 82 yen per 1$. If it breaches 82.7, it's highly likely that it will test the next resistance zone between 84-5 yen per $. If it goes over that one, then it's off to the races.

The currency markets are getting spooked by the prospects of Mr. Abe getting his way with the BOJ.
by SEA monster rate this post as useful

... 2012/12/5 11:41
With your clear explanation, now I understand the chart. Thanks so much!

No worries.

Psst... I still think the difference of a few hundred dollars is a lot. Maybe it is because I do not have so much money to change. Heh heh...

I agree that a few hundred dollars is a lot.

You still haven't mentioned what dates you are travelling, or how long you will be in Japan for, or how much your budget is, or what country you travel from.

If you are on a budget and a solo traveller you will probably not spend anywhere close to the amount I mentioned (400,000 yen) on a holiday, so if you have a small budget the percentage difference in exchange will be even less in dollar terms.
by GC3 rate this post as useful

Re: when is the best time to get yen currency? 2012/12/6 15:48
Hi SEA monster,

Wow. the way you said it, u sound like an economist! Japanese are spooked that Abe may be the next PM??? Mmmm.... I wonder if that means yen will fall.

Psst... I am making a wish that yen will fall so that I can get more yen for my dollar. :p
by tinkerbell (guest) rate this post as useful

Re: when is the best time to get yen currency? 2012/12/6 16:05
Hi GC3

i am from s'pore & will be travelling with my spouse from 28 dec-7 jan. i am trying to keep my budget to \130,000. This 130,000 yen will include food, transport, admission fees & making of a music box@ Otaru. Whatever spare cash I may have will be spent on shopping. Does this seem like a tall order??? Or should I change more???
I am thinking along the lines of 500 yen for bf per pax, 1,000 yen for L per pax & 2,000 yen for D per pax.
I am also thinking of having hairy crab or whatever crab is in season at DyOs.

Erm, am I daydreaming with my budget???
by tinkerbell (guest) rate this post as useful

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