JPY crosses/Others/Trade Ideas

Care is warranted on JPY and CHF crosses

We are witnessing some hefty positional liquidation across the so-called ‘risk’ pairs and I think those who’ve been trying to buy EUR/CHF or GBP/JPY or the like will need to be careful over the next few days. I’m not yet 100% sure that this move is USD-driven rather than risk-driven so I’d suggest that you exercise some extra care in these crosses. (Signed- Nervous Nellie 🙂 ).

  1. Seems to my inexperienced eye that the USDJPY has some potential to stall its fall around here. An overly bearish mood seems to have spontaneously emerged around this 9780 level which broadly corresponds to a trading band from late June from which a mini melt up occurred. Buying here with a stop below 97.00

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