I think it might be due for a pull back? In last five days, whilst usdjpy traded in a range, nikkei broke higher... Too fast too furious...Whilst Japan inc just pulled out of a recession, it is still on weak ground. What are your thoughts? Are you an abenomics fan?
Hi Michael, yes I think a pullback at this point is possible. I made my profits on the long side and I'll wait to re-enter long. Yen didn't move much recently, I agree, but I think it will. Dollar strength continues. do you trade currencies?
I have also booked some of my profits in long Nikkei. But was parttly a regret trade as I had cut some longs at 17800. Didn't think Nikkei could take those out. Looks like I am seriously wrong now then Nikkei has roared past 18500. I trade currencies as well. But most of my profits are from trading the index now.
I see Nikkei strongly tied to it, so i'm not sure why you would have a discrepancy between them - especially on a strong indication of a bull flag. I usually give some room for foul play, so i assume a pullback may happen for DXY to flush out some and give a breather (as many things may also need to cool down, nikkei included). But i seen Yen break a bear flag as well, so im watching both closely
Dollar index and Nikkei are both in bull trend for me, yes I agree they are correlated, minor pullbacks always possible but the bull trend is intact and strong. Yen is interesting as well to short soon