ridethepig | USDJPY ST Market Flows 2020.06.12

Eyes on UMich today. Sentiment remains awful out there despite how talking heads are selling re-openings to the masses. A very dovish Fed has forced Global Equities to play ball and marked a meaningful top across risk markets. VIX exploding higher after testing 🔑 25.0x support and implying the next move coming is a lot more sinister. This ST swing does not change the long-term multi-year chart in USDJPY .

Let's map a quick cheatsheet for those trading the flows today in USDJPY . Here actively looking to start adding shorts using strong resistance (108.5x) <=> soft resistance (107.5x) <=> soft support (106.6x) <=> strong support (106.0x) for reference.

Thanks as usual for keeping the likes, charts, questions and comments coming. Good luck all those trading the weekly closing range.

Comment:

Very little to update here...

Comment:

A healthy reality check for Equities which were in cloud cuckoo land - although this turn in sentiment over the weekend is starting to look like something more sinister that has further to go. Some macro hands were spotted on the USDJPY bid this morning at 107.1x although notably less than last week. Given the exhaustion, I am looking to add to shorts on any spikes into strong 107.7x resistance today. Targets below at 106.9x and 106.6x.

Comment:

We got caught in chop... if we don't breakdown in the coming sessions this will expire worthless:

Comment:

Damn... no targets here yet for sellers

Trade closed: target reached:

106.6x target reached and all closed.