I’m already running core long positions in GBP against the EUR and the USD, so perhaps its time to add the JPY as well. My sense is that the […]
I’m certainly not advocating that we should take a long position now ahead of the Yellen testimony .
But, the tide seems to be turning for the risk trades and […]
It’s no surprise to see the ‘euphoria’ regarding the Turkish rate rise quickly evaporate and now we are back in no-man’s land in many of the JPY and CHF […]
My initial reaction to the news is that it smells of panic and might even have an unwelcome effect […]
I’m not much help at the moment as I simply don’t have a good sense of what’s happening in the market. Are we going to see a continuation of […]
Firstly, I’m not picking these moves particularly well at the moment and some of the cross moves in pairs like EUR/AUD have me quite baffled. Nevertheless, I still think […]
- Weekend win in Japanese regional elections by opposition parties will worry Yen shorts;
- Overall positioning still running at extreme levels;
- The topping formation which we started watching last week […]
- Possible topping formation ahead of 143.00 (see chart);
- Needs break and hold below 140.40 to confirm;
- Shorts favoured with stops above 143.25.
Major technical resistance at 105.50 (61.8% retracement) is still the main topside target in USD/JPY.
EUR/JPY should also be interesting near 143.10/20. If a top can form there on the […]
I’m looking at some solid technical resistance near 143.10/20 in EUR/JPY and if this level is tested and holds, then I think it may be very worthwhile entering shorts […]
Any hopes the bears might have had of a topping formation have been dashed with the break above 142.90.
- Possible topping formation in development here with parameters at 141/143 roughly;
- I prefer to play the edges of this range over the next few sessions with a definite bearish bias;
- If […]
- USD/JPY will look toppish so long as the long-term Fibo at 105.50 continues to hold firm; a break below previous highs near 103.70 will likely cause further trimming of […]
- If you are bearish EUR/JPY and anticipating a developing topping pattern;
- Sell as close to 142.80 as possible with a stop above 143.30;
- Cover near 141.00 and play the 141/143 consolidation […]
- GBP/JPY is testing previous highs at 171.00 and a clean break targets 170.00. The latter is a very strong support level and is surely worth buying-a-bounce out of there […]
The FX market has stayed quiet and overall turnover is very low. The last day of 2013 is unlikely to be a busy one.
- Cable is trading steadily above 1.65 […]
- EUR/JPY gapped higher on Friday in extremely thin trading conditions and more gains towards 149.00 are certainly looking likely. Any dips now towards 143.00 should be seen as dip-buying […]
- Neckline of double bottom comes in around 90.00 (see chart);
- 61.8% retracement of rally from 86.50 comes in near same level.