ridethepig | USDJPY Market Commentary 2020.09.12
📍 JPY
Buyers are threatening to breakout. After 107 comes 110 and then 112.x. But sellers have other trump cards, for example covid.
My impression is as follows: as the dollar firms and finds a temporary floor therefore can be considered a bounce into the elections which can be somewhat double-edged. If the preconditions are met, namely if we get a continuation of Abenomics with the leadership elections, and effective parries into the Yen are restrained, then beginning the advance towards 150 may be justified.
But we should consider the development here to be EARLY/OPENING game. In light of this, we should take longs on a leash and if the market starts paying we can add more size. The technical breakout would lead to buyers occupying the flows. Equities may felt even more the heat if we see a paralysing effect via temporary USD inflows.
Thanks as usual for keeping the feedback coming 👍 or 👎
Buyers are threatening to breakout. After 107 comes 110 and then 112.x. But sellers have other trump cards, for example covid.
My impression is as follows: as the dollar firms and finds a temporary floor therefore can be considered a bounce into the elections which can be somewhat double-edged. If the preconditions are met, namely if we get a continuation of Abenomics with the leadership elections, and effective parries into the Yen are restrained, then beginning the advance towards 150 may be justified.
But we should consider the development here to be EARLY/OPENING game. In light of this, we should take longs on a leash and if the market starts paying we can add more size. The technical breakout would lead to buyers occupying the flows. Equities may felt even more the heat if we see a paralysing effect via temporary USD inflows.
Thanks as usual for keeping the feedback coming 👍 or 👎
Order cancelled:
No break, no trade.
