- Long at the big psych level
- SL to BE because if bears push it down to 180 again for the 3rd time, unlikely to hold
- would look to strategically reestablish longs all the way down to 178.2
- SL to BE because if bears push it down to 180 again for the 3rd time, unlikely to hold
- would look to strategically reestablish longs all the way down to 178.2
Trade active:
Crazy PA on the surprise hike.
A bit of that buy the rumour sell the news type of behaviour
But the carry trade overnight financing is just too attractive
Added small long at 181.13
A bit of that buy the rumour sell the news type of behaviour
But the carry trade overnight financing is just too attractive
Added small long at 181.13
Trade active:
Unfortnately the long at 181.13 got stopped out at BE with the 2nd tap, just barely.
And the entry long at 181.64 did not trigger by a bee's dick
And the entry long at 181.64 did not trigger by a bee's dick
Comment:
- the 181.41 above was shortlived, got SLed @ BE
- Week ahead, probably watching 181.4 to 180.9 for reentry
- ForexLive makes a good point about red flag for JPY bulls, couldnt catch a bid despite Friday's broad risk off mood
- Suspect 185 handle now in sight over the next fortnight, barring any adverse news, considering the "stickiness" of recent inflation data across europe
- this idea that rate rises will cause recession seems a bit premature, when in reality might actually take the next 2-3 months before we see anything concrete
- as for BOJ intervention, USD/JPY now 143 with intervention speculated at 145, key is to pay attention to the 4 phases of BOJ rhetoric - we're at Stage 1 (search "intervention" on forexlive and look for the article from E Sheridan on USD/JPY)
- Week ahead, probably watching 181.4 to 180.9 for reentry
- ForexLive makes a good point about red flag for JPY bulls, couldnt catch a bid despite Friday's broad risk off mood
- Suspect 185 handle now in sight over the next fortnight, barring any adverse news, considering the "stickiness" of recent inflation data across europe
- this idea that rate rises will cause recession seems a bit premature, when in reality might actually take the next 2-3 months before we see anything concrete
- as for BOJ intervention, USD/JPY now 143 with intervention speculated at 145, key is to pay attention to the 4 phases of BOJ rhetoric - we're at Stage 1 (search "intervention" on forexlive and look for the article from E Sheridan on USD/JPY)
Comment:
- I see the lastest news this morning on BOJ minutes re: 2% inflation & potential YCC reversal.
- But also see the relative weakness of that JPY bid, plus now seeing a +50% retracement of that
- to me that's a market that doesn't believe the BOJ will change anything just yet
- But also see the relative weakness of that JPY bid, plus now seeing a +50% retracement of that
- to me that's a market that doesn't believe the BOJ will change anything just yet
Trade closed manually:
- Manually closed. That's a 250 pip trade, and my best since returning to the markets.
- Too much going on at work and home life to have the appetite to sit through the next 3 days till that Tokyo CPI print.
- I can see that massive bid at 182.30 sitting there, probably stick a small entry there after this.
Still got entry orders set at 181.4 & 180.9 below as well
- Too much going on at work and home life to have the appetite to sit through the next 3 days till that Tokyo CPI print.
- I can see that massive bid at 182.30 sitting there, probably stick a small entry there after this.
Still got entry orders set at 181.4 & 180.9 below as well
- Seems a bit overdone tbh, against the backdrop of central bank hikes throughout the week, strong retail sales and everything else pointing to the higher for longer narrative
- didnt want to buy at 64 due to the viciousness of the selloff but stuck a $5 in the garter at 181.41