USDJPY (RORO) Market Sentiment still driving ALL Markets
(Chart contains more information)
What can you say here? It is Safe-Haven Asset Vs. Safe-Haven Asset. The USD is the clear winner because of investor optimism based on the Fed's Hawkish policy decisions, while the JPY faces mixed signals at home.
I am only looking for buying opportunities. Right now, we are seeing some bearish pressure, but this is in the short term as not all USD economic information is optimistic regarding the state of the US economy. The fundamental sentiment is in complete control of this and will be for a long time while supply-side inflation is running rampant.
If this remains as propped up as it has been, then anything vs. the USD will be shorting opportunities outside of any positive major economic news for the major peers. Then we are trading against strength vs. strength and something I personally like to stay away from and look for cleaner opportunities.
What can you say here? It is Safe-Haven Asset Vs. Safe-Haven Asset. The USD is the clear winner because of investor optimism based on the Fed's Hawkish policy decisions, while the JPY faces mixed signals at home.
I am only looking for buying opportunities. Right now, we are seeing some bearish pressure, but this is in the short term as not all USD economic information is optimistic regarding the state of the US economy. The fundamental sentiment is in complete control of this and will be for a long time while supply-side inflation is running rampant.
If this remains as propped up as it has been, then anything vs. the USD will be shorting opportunities outside of any positive major economic news for the major peers. Then we are trading against strength vs. strength and something I personally like to stay away from and look for cleaner opportunities.
Trade active:
You can see last week that we bounced off the bottom demand zone and right back up. This week the market has opened significantly bullish, continuing what we saw during the last two days of the week. We are at a significant level, and a close will push us to the Counter trend continuation level, and the market will be forced to make a decision once again. The last time we were at this level, the market's "will" was absent.