Category in JPY crosses

FX Market Sentiment & Positioning; week to 26th Jan 2018

Our proprietary analysis of online and social media sentiment in the major FX pairs shows a disparity between professional and non-professional traders. USD sentiment remains 50:50 with professional traders whilst the bears are clearly in charge at 32:68 amongst the retail trading community. Positioning data does not yet support the sentiment measure in either the

Longer term JPY positions likely to be tested today

Forget about fundamentals, once the market gets a nasty shock the obvious reaction is to scale back on all open positions and exposure. One of the biggest positions in the market is short JPY and these positions could be tested in today’s conditions. I’m not taking any positions but I’m definitely looking at trading the

AUD/JPY trading higher in early trade post G-20

USD/JPY is trading above 116.50 in early interbank trade and the AUD/USD is holding steady near .8760 in thin early interbank conditions. The free trade agreement between China and Australia is seen as significantly ‘risk positive’ so it’s little wonder to see the AUD/JPY trading higher. The next major topside technical milestone for the cross

Looking for some short-term opportunities in the crosses

The economic calendar will stay light for the next few sessions so we will rely on intraday sentiment/positional swings for some volatility. USD/JPY has found a resistance level at 108.30; Oil prices slipped again overnight which will put pressure on pairs like CAD/JPY; CAD/JPY support/resistance levels at 95.10/96.00 intraday and might be worth trading with

Trade of the Day, Thursday October 23rd: Looking to sell EUR/JPY

Markets are still pretty choppy and there don’t seem to be any dominant factors influencing the major currencies. Commodities remain influential, with the oil market still looking nervy (and likely to affect Yen crosses) but Gold trying to form a significant base; Bond markets haven’t had much information to go on and are in holding space

JPY crosses: Profit taking and trailing stops

The professional market has been short JPY across the board and we saw some hefty profit taking emerge yesterday after the over-stretch to take out 110.00 USD/JPY barriers couldn’t be maintained. Other pairs like GBP/JPY broke out of holding patterns and triggered heavy trailing stops. In the shorter-term, I prefer selling any 50/60 pip rallies