USD/JPY below 96.00 after GDP data

It’s unusual for USD/JPY to move too far on domestic data, so the fact that it fell 30 pips is more of a reflection on market sentiment and positioning than on any fundamental reflection on the Yen.

GDP rose for the third straight quarter, albeit less than expected, and Abenomics does seem to be having an effect.

  1. hey Sean, i went long when the usd/jpy slipped below 96 and closed my trade to make an easy 50 pips, but im not too confident to go short at the moment, whats ur thoughts. i know you’ve advised me many times which has been to my benefit, so if you cold let me know at what range you would go short that would be Great. i personally believe that there will be a deeper dip to 95 soon, but see a possibility of the Nikkei possibly going back to the 14000 range in the near future that is keeping me away from the trade. Thanks in advance!

  2. Hahaha….Sean, i was serious, whats your opinion regarding today my friend. Im addicted to your insight, i’m a Canadian (From Toronto) and we have quite the time difference but i cant go to sleep without reading your posts and opinions, and my trading day isn’t the same either without them! The Nikkei just went down some more points….so we might just be back to 13450 in no time.

  3. Sorry mate, don’t ask me about Nikkei, no idea. I’m super-ueber-bullish on Gold and Silver, and think the USD is a sell-rally trade against everything else. AUD should out-perform in s/t but be patient and buy big dips. No idea on CAD 🙁

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