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USD/JPY: Buying dips favoured

  • The most obvious trade to my eye is to buy dips in USD/JPY whilst the wedge consolidation pattern still holds;
  • I’ve been stopped out of AUD/USD long position and will now sulk and reassess;
  • I’m still long cable and tiny short EUR/GBP ahead of Mr Carney’s first ‘on-the-record’ speech as BOE Governor;
  • EUR/JPY looks and feels like a ‘buy’ to me but patience required;
  • Gold and Silver keep marching higher and it seems to me that the moves are highly correlated with what’s happening in EMs like the INR.

 

  1. Sorry Vinoth, new front page and members section coming as soon as new chat-room and funding programs are 100% ready. That’s why I haven’t been updating this members section

  2. Hi Mike, M&A related buying plus usual Buba end-of-month demand is what’s driving it at moment but I’m guessing that the latter at least will cease today. Not hearing any specific order levels, sounds like all flow driven

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