Flows and Orders/FXWW News/JPY crosses/Trade Ideas

JPY crosses: Bears should show some patience

The speculators have started selling the Yen crosses again but they may have a tough time of it today. There has been decent institutional demand today from Japanese pension and investment funds across a range of pairs which might level the speculators caught short near short-term lows?

I’m bearish overall but we do need to get our timing and entry levels correct, and I don’t think today is the right time to be selling. One possible exception is GBP/JPY, with the market starting to turn quite bearish on the pound.

  1. Hi Sean

    Patience is really needed for the bears on USD/JPY. I guess, I have enough time for a new trade idea until we approach 99.50 level for the short trade 😉 . Just before that, 97.50 could be magnetic…

  2. Price acceptance around the 98 level in the USDJPY has me thinking price will probe lower before rallying. Sold at that level looking for low 97s later in Europe.

  3. It wasn’t that straightforward to find the chat room. Once the platform is open, I went to the “Add rooms” icon on the right of the screen and scrolled thru about 200 rooms to find FXWW Pty Ltd.

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