Your attention is fundamentally - #USDJPY
"The foundation of the former, the momentum of the other"
In the previous week the currency pair continued trading range, a number of factors causing the behavior.
First data from the US showed good growth of GDP, in particular the revised data, market participants expect the revision to the negative side, but the US economy is doing better than expected participants.
Secondly verbal intervention by the Bank of Japan's leaders began to change the momentum of the market.
We remain bulls on the Japanese currency, causing it a high balance of payments, trade balance, a moderate risk appetite from investors and unsteadiness stock market in 2016.
However, we feel after such a rapid growth, the currency pair requires a certain correction. Therefore, this week we will make the purchase of the US dollar against the Japanese yen .
Details of the transaction:
Warrant: buy (market opening); buy for 112
S / L: 110
T / P: 116
Volume: 0.5% to 0.5%
Technical analysis: The pair formed the second floor, a strong demand for a mark of 111 for 2 times the couple returned back to 113, may resume the sale of the level of 116.20-116.50 appears. Which also serves 50% Fibo resistance. is 111 - 110, which break will move to 105.
iWM level: will be given on Monday at 2:00 am
CFTC: Despite the current correction, market participants continue to increase the in the Japanese currency. CFTC data mo: 52.7 compared to 47.9 the previous week.
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