Flows and Orders/Technical Analysis/USD/JPY

I should’ve listened to Lefty!

My mate in hedge fund sales told me last night to buy USD, particularly USD/JPY, and that we will see a big move back into the USD in coming weeks. I knew better of course, as I not only ignored his sage advice but I actually had the opposite position; a fool and their money are easily parted šŸ™ No harm done, was a fairly small trade and a 40 pip stop, but I’m wondering what he knew and who’s done what? I’m sure all will be revealed in due course.

More technicalĀ resistanceĀ at 80.65 but a clean break above there should have us buying dips for 84.00!

  1. Hmmm, interesting moves again today, but I will be offloading more of my long term longs if this rally keeps it up. I need to see US 10s selling off before I can believe this is more than just a temporary blip higher.

  2. That would really get the bulls fired up if yields started moving, and it’s pointless getting in the way of this move once it starts. Good luck with longs; I know its right trade but as always its timing that matters.

  3. Well, I’m long USD/JPY long term because yen is my personal currency, and I do it to hedge my downside. I don’t like the yen’s future prospects personally but even if I have it wrong my remaining yen would be worth more in such a case, so either way I’m a happy chap. If I had zero personal assets in yen I would possibly avoid trading the dull thing altogether! But when it moves it does fly, aye…

  4. Pips galore is all am saying,sean,u the ace,u shd know beta than fighting the trend…I have a few years under my belt in the biz but i know for a fact that most traders undoing is falling in love with a winning trade and we overlook the improbable..beware!

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