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USD/JPY: Probably best to stay square tonight

The market probably got itself quite long this week? I think it might be best to stay square for tonight?  Or maybe just wait for clear opportunities.

  1. Absolutely right to wait-and-see I think. These NFP numbers are all over the show.
    But today may be interesting, given the upside break in USD/JPY this week. Once the numbers are history we may get a clear picture of where the market wants to take the pair. If it does want to go higher, I’d say it has a way to run, so patience should be rewarded.
    I’d not be surprised to see another rotten number though, it seems to happen every time a good number is expected (like last month)!

  2. Sean im not suprised with the NFP numbers, typical, the experts over due their expectations and get the market all rallied up, and then everybody gets disappointed with a number that i personally dont think is so bad! My question to you sean is that we went down below 99 but now are above 99 again, you think we will get back up, or should I expect a deeper dip? Trying not to trade, just trying to gather my thoughs and formulate a plan while the storm passes….

  3. NFPs, all over the show 🙂
    Abdullah, just my two yen but I reckon there is a lot of uncertainty and differing opinion out there as to what these numbers mean for the Bernanke taper. I don’t think USD/JPY is going to go too far today. The Japanese are excited about the 2020 olympics decision on the weekend too, so that’s something that might be keeping traders on the sideline until next week.

  4. Fxgai, “NFP’s all over the show” you can say that again, i had to leave for 30 mins, and it dropped from 99.25 recovery to 98.6 zone! As for tapering, as i told Sean i’m leaning toward december for taper, but will go with the flow as long as i can make pips on interday trade im all good, and thanks for the insight, i totally forgot about the Olympic decision!

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