Flows and Orders/USD/JPY

USD/JPY: Looks like another attack set to be launched on 100.00 barrier

A couple of people who are very close to the action tell me that another test of 100.00 is inevitable and that it will break this time. Large stops are reported above the physical and psychological barrier and there are no offers of note until 100.50.

I’m leaving it alone, preferring to wait for opportunities after the event when volatility rises.

  1. Makes total sense. Over last several months I have been watching Nikkei, and around range breakouts to the upside Nikkei was leading. Currently Nikkei already broke to the upside, so I would expect successful break of 100 today or tomorrow. I think in case of spike lower in JPY we should see some nice dislocations in the crosses. I am hoping in shorting spike high for GBP/USD, to establish short, another interesting one is short of SP500 on approach to 1600-1610.

Leave a Reply

Your email address will not be published. Required fields are marked *