Yen Monthly view. At TL resistance from 2002&2007 lows

CME:J61!1M

Description

⋅ Apr 8, 2016 4:18 PM

Out of upper d/t BB, hid bearish momo div

$j6_f J61!FXY USDJPY

Comments

IvanLabrie

⋅ Apr 8, 2016 4:29 PM

I think it'll hit the supply zone.

pantheo

⋅ Apr 8, 2016 5:00 PM

Maybe. usdjpy 105 is in the cards anyway. Wise call to quit shorts on crude. Congrats! P.

IvanLabrie

⋅ Apr 8, 2016 5:49 PM

Yes, I move quickly in oil, I think it might not trend straight up or down for a couple months.

pantheo

⋅ Apr 9, 2016 3:45 PM

Agree. Need a close above 40 or below 35 to show its hand now. XLE sentiment is too optimistic, while crude it self is leaning to the other side, so mixed bag with no clear indication. Seasonality is a plus for April though. June could be a good month for longs.