- Larger positions will tend to get increasingly nervous the longer a currency pair trades in a sideways formation;
- Plenty of large JPY-short positions have been built up over the last […]
USD/JPY looking most likely of majors to make big move
USD/JPY: Favour selling intraday rallies to 102.15/20
I quite like the risk-reward in selling near 102.15/20 with stops above 102.90, targeting a move lower to test important […]
BOJ not giving market any reasons to turn bullish Yen
The BOJ policy statement shows that they will continue along the same policy path for the foreseeable future, making the Yen an obvious choice as a funding currency […]
USD/JPY: In recent months has tended to top-out post NFP
I read a research piece from BofAML yesterday which showed how USD/JPY has rallied in the days before recent NFP releases, has then had a spike higher on the […]
USD/JPY: Hedge funds main driver behind recent rally
It’s getting increasingly hard for professional traders to generate any returns in these markets and it’s no surprise to see hedge funds clambering once more onto their favoured USD/JPY […]
Australian GDP the main event this morning
Another very quiet 24 hours in the FX market and all of the major pairs seem to be trading exactly where they were at the beginning of the trading […]
USD/JPY: Heavy turnover overnight, more sell orders ahead
- There were offers of up to $1 billion at regular intervals on the interbank platforms starting at 102.25;
- The fact that these offers were chewed up shows how strongly ‘bid’ […]
USD set for further gains against the GBP, CHF and EUR #2
As I said earlier in the week, the USD looks set to make further gains against the big European currencies and these trades are starting to develop […]
USD/JPY: Stops both sides of market ahead of Kuroda speech
USD/JPY reacted surprisingly little to the BOJ policy announcement. There had been some small expectation that the inflation target might be softened but we saw no sign of this. […]
USD/JPY: Only a matter of time before we see a down-side clean-out
It’s not so much the size of the positions, but the proximity of the stops which are the main worry here. In tighter markets, traders tend to run bigger […]
USD/JPY: Capped below 102.00 but very solid bids still being reported
All those hoping for some volatility in USD/JPY may be disappointed again. I’m hearing reports of very solid bids towards 101.25 which will prove difficult to budge. Sellers are […]
USD/JPY: Resistance near current 101.90/95 level
This current level provided solid technical support on the way down, in the form of a long-term trend-line. We can expect nervous longs who bought here on the way […]
USD/JPY: I’m staying neutral, easier trades elsewhere
The cases for being short USD and/or JPY are too strong and too similar in my opinion so I’m avoiding this pair. The break below the trend-line support at […]
USD/JPY: More sideways trading likely with medium-term bull trend still intact
USD/JPY has been going sideways for the last 3 months and I see no reason for this to change just yet. The bullish daily trendline held very nicely near […]
USD/JPY: Still hovering above important support levels
I don’t see much point in getting involved in USD/JPY at the moment. There is major support coming in near 101.25/50 with stops below there whilst resistance will be […]
USD/JPY: Still prefer the short-term sell-rally strategy
The market remains bullish USD/JPY and it also remains long and susceptible to short-term clean-outs on the downside. The bulls have drawn a line in the sand near 101.25 […]
USD/JPY: Important technical support levels ahead of heavy stop-loss orders
- Weekly intermediate bullish trendline comes in near 101.40;
- Series of daily lows near 101.20;
- Daily trend lows 100.75;
- Heavy ‘liquidation’ stop-loss orders from macro funds reported below 101.00.
USD/JPY: Plenty of dip buyers around but…..
I’m not too sure what to do with USD/JPY. Overall it looks like we are in a holding pattern somewhere between 101/105 and that we will see 110+ once […]
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