Equity markets continue to fall in Asia; USD/AXY on the rise

  • My technical support level in EUR/JPY lasted all of a few minutes;
  • Equity markets are down across the board and USD/AXY has caught a strong bull trend;
  • NZD/JPY has been the big mover on the FX market, now almost 2% lower.
  1. Rough day. Fortunately I closed an old kiwi jpy long above 83, didn’t expect this to happen.

    Your EUR/JPY level should work nicely for intraday shorts if we see a bounce, which I imagine we will. This thing should have a bounce and then a further streak down I reckon.

  2. Not sure Fxgai, I’ve seen way too many false moves in Asia to be convinced. Think pairs like AUD/JPY are good buy-on-dips but not sure on levels just yet so holding back

  3. Yeah, could be. I was only thinking of shorts on a strictly intraday basis.
    Don’t worry I still hate the yen and want to buy all the other half-decent currencies against it, and even the rubbish currencies sometimes 🙂

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