... for a .20 credit.
Comments: This is about as "it didn't work out" as it gets ... . Paid a 9.85 debit to get in; .20 debit to close; 9.65 ($965) loser.
With the yen at multi-year lows, looking to take a bullish assumption directional shot with plenty of time to work out in the Yen proxy, FXY.
The basic setup is to buy 2 x the 75 delta strikes and sell the 50's, resulting in a ~100 net delta long setup with a hypothetically infinite maximum profit.
Currently, the setup is pricing out at 9.90 with a 71.95 break...
Inside of a broader wedge seen on the daily chart, a slanted neckline head and shoulders pattern is developing on the 4HR chart. Looking to see funds continue to shift from the USD in the Yen as the DXY index continues to sell off.
Looking for appreciation in the yen. Soon there could be a correction on the market. Nice technical setups. 200MA RSI oversold MACD showing lose of momentum. Good Luck
It has been a while since I took note of the impact of economic numbers on the Australian dollar (FXA). For most of this year, I have instead been a lot more focused on what the Australian dollar, combined with the Japanese yen (FXY), might be saying about risk attitudes in financial markets. Today, I finally took note of economic drivers.
The Australian Bureau...
"The Australian dollar had economic and technical tension. The RBA released it to the upside with a bullish monetary policy statement."
Australian dollar: A Monetary Policy Statement Made for A Currency Rebound drduru.com $FXA $AUDJPY $AUDUSD #forex #RBA
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
Have a great day everyone!
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
Have a great day everyone!
Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
Have a great day everyone!
USDJPY has hit the previous monthly uptrend mode, and is currently stuck inside this zone. It would be a colossal feat, for Yen bulls to drive the pair under this key level, so I will watch it with keen eyes during this week. I'll update the post with intraday and daily/weekly charts as needed. It would give us clues about the future of the S&P500 and Nikkei, if...
This ratio gives very timely signals as to when to more optimally switch between risk on or risk off biases.
It's clear that we can long gold, bonds and yen now, I'd be careful with equities, at least not going long indexes, or looking for shorts in weaker securities would be my favored approach.
I have booked profits on a few profitable long trades, and...
