Category in USD/JPY

USD/JPY: Plenty of volatility, direction still bullish

The day-traders can’t complain about the opportunities in USD/JPY with multiple opportunities to trade either side of a 100 pip range. The market is awaiting official news of a general election in Japan and this uncertainty will only add to the volatility. There will be opportunities for both sides but those who’ve been buying dips

USD/JPY: Looking to build medium-term shorts into 50% retracement level at 111.65

The market was certainly taken by surprise by the BOJ’s additional easing but a closer look at the fine print may suggest that this is not such a big deal (robbing Peter to pay Paul so to speak). I will try fading the rally into the medium-term technical resistance level at 111.65 (50% 147.50/75.50). This

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

USD/JPY: Market still eyeing big barriers ahead of 110.00

There were plenty of reports in the FXWW chatroom yesterday of very large offers at 109.74/75, protecting an option play at 109.75 (the market needs to trade through the exact level in order to trigger the pay-out). There will be another possibly even bigger barrier at 110.00. USD sentiment remains buoyant and further attempts to

USD/JPY: Favour playing 107.50/110.00 range

The entire world is bullish USD/JPY it seems and many are positioned accordingly. Sentiment will remain bullish whilst the respective central bank policies diverge but with positioning already at extreme levels, pull-backs are inevitable. We are currently experiencing a modest one, after 109.50 was rejected and ex-BOJ Iwata comments spooked some longs. 110.00 is the

USD: Retracement or reversal- latter I think

The USD bears will need a bit more evidence before getting overly excited but the recent price action in AUD/USD, NZD/USD and USD/CAD certainly suggests that the greenback will struggle on these fronts. We often get impulsive market moves in September when the traditional holiday season has ended, and I’m definitely still of the opinion