EUR/USD/Flows and Orders/USD/JPY

USD/JPY: Barrier defence still in play at 97.00

The market’s biggest player is reportedly defending a 97.00/104.00  double-no-touch option and prices are edging ever closer to the big showdown. I wouldn’t be surprised if it’s trading 97.02/03, your amount either side, in a few hours time! The question then will be, who blinks first?

My money is on the giant Panda and I’m long with a stop below 96.80.

Interesting that, after a very quiet period over the last 12 months, the same player was a very noted buyer of EUR/USD below 1.3000 last week.

  1. Good morning Sean, just bought 10 lots at 97,16 and sold them right now for a quick 20 pips profit. I need some quick cash to throw at my usd/chf black hole! 🙂 I am looking also at eur/chf levels. I am a buyer again at 1,22.

  2. Hi Rui, I’m bit the same, my excellent EUR/AUD trade is paying for my rubbishy USD/CHF trade 🙂 I must say I’m bit worried about my USD/CHF trade as I simply don’t understand what’s happening at the moment. I’ll keep it fairly small until the lights come on or I decide to stop out of it.

    1. > my 2c on chf. Overall it rhymes with behavior of pre peg days. Eur/chf is a canary saying that all not well in euro zone, while the rest of the world is oblivious and still byuing eur/usd… Another canary: the last time aud/nzd was below current levels were also in an interesting 2008… If above observation has anything with reality, short eur/usd Could be a better trade. Though if pegs truly holds it is the same as your favorite chf/usd.

  3. Yes George agree, usually see quick spike lower, then short-sellers cover so we get quick spike, then lower again. I’ve never studied the big barriers exactly but something like that usually happens. 9580 double top neckline is important lvl so sure to be tested if 9700 breaks imho

  4. sean,

    do you think we might be in for a short term bottom on aud/usd? there is talk of stimulus coming out of china. as fas as eur/aud goes, well done on your trade but that too looks toppy to me

  5. I’m biased Nachiket, I still think the AUD falls further but it might well have a short-term base at 10225. As for EUR/AUD, when it goes it will fly high very quickly so I’m not willing to jump off yet. I’ve got a very nice position now and can afford to be patient, which is nice 🙂

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