DavidBelleFX
Short

AUDJPY weekly

FX_IDC:USDJPY   US DOLLAR / YEN
366 6 11
Wyckoff tech basis.
Hi, do you still see pair starting his way down ? Market seems very bullish. What is your strategy?
Reply
@lu1977hk, Absolutely. When the market seems bullish or bearish is how I prefer to play things. I'm pretty contrarian.
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Thanks, how do you see the risk of a spike to 110 playing? What are your shorter term targets?
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Do i read correct saying that above 110.50 the trade need to be canceled?
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Any update on this trade?
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@lu1977hk, Sorry, just seen your comments. Yes for the initial idea the risk zone was broken, however, re-evaluating, I still maintain dollar bearishness. This is because of cross currency swaps becoming more and more expensive, which means hedging currency risk is becoming more expensive. This makes margins on buying US assets thinner and so dollar demand will fall.
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