Right , this is an interesting pair, USD bulls seem to be losing traction now and what with the fed's hawkish tone and a rate hike being priced in by the markets , late last week saw some safe haven flow coming into action . With this in mind along with the charts showing we are approaching trend line resistance around the 0.618 fib line this all builds a strong case for shorting the USD against the YEN. Entry around the confluence zones of 114.400- 114.800 Stop Loss @ 115.500 just above 0.618 fib line TP1 @ 112.200 TP2 @ 111.300
ALL EYES ON NFP ON FRIDAY
We rate this trade out of ten an ( 8 )
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Commentaire
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We are moving our entry confluence zone on this to between
1.1400- 1.1440
Stay tuned
Commentaire
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Right we have set our entry @ 1.1420 to go short on USD/JPY
Stay tuned
Commentaire
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Right guys very important, we got in @ 1.14200 this is going against us for now .................. You must have a stop loss in place before tomorrow's NFP fig's, set it at what you feel comfortable with, as we could see this go up to 1.1550 should we get a positive number !!!!!!!!!!!
Commentaire
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Okay we are still in this as we had our stop loss set and did not get bid , stranger things have happened, never the less a positive NFP figure , but it looks like as usual the market was also focused more so on the average earnings which was lower than expected ...... Happy trading and join us over the weekend for review of the week ahead and new trading ideas 💡
Trade fermée manuellement
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We have decided to close out of this and take a sideline approach until the fed statement is released to make our judgement as to what way we feel is the right side to be on ..... Data this week to watch for from the US aswell .
We will keep you updated but expect the 1.1550 levels to be tested again .
Commentaires
Cabot101Management
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Right guys very important, we got in @ 1.14200 this is going against us for now .................. You must have a stop loss in place before tomorrow's NFP fig's, set it at what you feel comfortable with, as we could see this go up to 1.1550 should we get a positive number !!!!!!!!!!!
Cabot101Management
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Okay so our trade entry has been filled @ 1.14200 expect this to retrace a bit, as we had very good ADP figures, but longer term we expect this to gradually pick up momentum downwards