AUDJPY entering support area.
Price has been reacting to this support past 4 months
USDJPY lost its uptrend and price fell too, so let's keep an eye when week opens, no need to rush into this trade:
If there is strong selling on these 2, then instead I would buy CHFJPY.
I just want to short the Yen idc which pair.
If it keeps going strongly up I will wait a...
At market price:
1. At 104 $yen offers an attractive buy and sell side - from the position of not knowing what the BOJ will do..
- I dont think that this pull-back to 104 is a material shift in risk-sentiment, rather i think this is a technical sell-off where the 107 pivot was hit (as highlighted) at which point BOJ/ UJ bulls lost confidence on their long...
Why Gold is lagging Safe have losses & Yen is outperforming
1. When looking at Gold vs Yen or XAUJPY it becomes apparent why Gold is lagging the broad safe haven losses that we have seen during this risk-recovery rally - investors are buying gold over Yen - so gold appears to be their preferred safe have asset to hold in a risk-on rally - likely a function of...
I posted earlier with my 107 USDJPY breakout trade (see attached post) - one of the reasons I said to long USDJPY on the 107 break-out was due to JPY Govt stimulus speculation.
In the last few hours we have seen fresh speculation of the JPY stimulus, with JPY20trn now being discussed/ proposed to be on the table - this renewed rhetoric is nothing but positive for...
USDJPY:
1 . Been watching $yen closely as my top 2 trades this week (along with GU). As expected/ foretasted 107 was the next key risk sentiment resistance level after 104 and after buying the 104 breakout i have confidence/ advise buying the 107 breakout - we have now crossed the 3m moving average at 106 which provides support/ confirms bullish move.
2 Risk...
The Federal Reserve's regulatory point man said work to address the lessons of the 2008 financial crisis won't be complete without better regulation of short-term funding both inside and outside the banking system.
St Louis Fed President Jim Bullard may be the Fed's new super dove, but he's no pessimist, he says. Bullard is the lone Fed official forecasting just...
Trading for this week:
1. My plan for next week focuses on point "3." from the previous post - I am waiting for risk-on or risk-off assets to confirm investor conviction by using USDJPY as a barometer for net risk sentiment. Despite the market uncertainty and high volatility UJ last week traded within a 200pip range for the between 101.3-103.3. Therefore, I...
Expectations vs Reality:
1. Following the referendum decision on Friday, as expected GBP sold off 10%+, the FTSE plummeted in a similar fashion and global risk assets sold off across the board, but FTSE/ Risk recovered a significant amount of those losses into Fridays close and for the rest of the next week.. So what happened to BREXIT?
- Such behaviour would...
Now that the Brexit risk has been realised the mentioned pairs above will share some correlation this week as the market changes between risk-on and risk-off as MANY on the events continually drive the sentiment shifts.
My Plan & Expectations
USDJPY
1. My conviction for UJ is long 8/10.
-UJ traded to lows of 98.9 in the midst of the brexit hype, as the...
BUY USDJPY @106.5 or @107.0 - SL @105 - TP @109-11 based on:
$YEN's historical most important support level - The 105.5 Key level will more than likely hold as it has many times before
- At 105.5 there are 3 significant UNSUCCESSFUL tests of the level over the last 3 years thus it is a great entry point. Also another plus is if you look at the monthly chart...
$Yen dropped 150 pips following the $ employment report and I for one am confused...
I had assumed JPY had been acting as a Risk-Off function against the FED hike e,g, $yen had been falling to these levels as the fed hiking risk caused safety flows into JPY... turns out this may not be the case.
The market has absorbed the emp report at dovish, UJ shedding 150...
