USDJPY: Nothing Has Change | No Spooks | Watching to Re-Enter
Well, well, well! Last week the data for the USD came out splendid in my favor. We even managed to stop out mean reversion techies, several banks and their clients and many other short players that focus purely on the tech side of analyzing the markets.
Lots of support here to go long SO FAR. I am watching that level for a reaction and a reason to enter again. I most likely will BUY the shorts because they will also buy themselves to cover their losing positions
Of course, I am bearing in mine that the USD data must remains positive.
It is a quiet week this wek until Thursday. So, I have my alarm set at 102.30 just in case it is reached before Thursday.
My quarterly target remains the same. Of course, like the GBPUSD target of 1.26, 1.26 and 1.16, it may be met sooner than later.
Lots of support here to go long SO FAR. I am watching that level for a reaction and a reason to enter again. I most likely will BUY the shorts because they will also buy themselves to cover their losing positions
Of course, I am bearing in mine that the USD data must remains positive.
It is a quiet week this wek until Thursday. So, I have my alarm set at 102.30 just in case it is reached before Thursday.
My quarterly target remains the same. Of course, like the GBPUSD target of 1.26, 1.26 and 1.16, it may be met sooner than later.
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China CPI and USD Retail Sales today and tomorrow. I won't post an update about it this week. Just watch how it unfolds as we are already in positions:
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Another view:
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UPDATE: I am a little late but we are still long. Adding according to this plan. It took me an hour or so to prepare this. I was also exercising. Here is my update.
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2nd Level to buy:
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If it doesn't fall down to deeper level, then I am happy with holding this position further.
Risks: Risk-off mood swings (same as before). And, if that happens, prepare a long at the 102.55 level. Targets are all the same.
Risks: Risk-off mood swings (same as before). And, if that happens, prepare a long at the 102.55 level. Targets are all the same.
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Another view of USDJPY:
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It just about reachedL
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2nd level entry
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Update:
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I just got up...I did not take profit here....but it did hit minor profit targets.
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Just updating:
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Update in side the picture:
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Advance GDP q/q data is coming out in a few hours. It is expected to grow at 2.5%, more than the previous 1.4%. If that happens, expect a big dollar rally. The fed will need to raise rate the next day (joking).
What has me a little concerned is that the GDP coming out won't reflect this months amazing retail sales data for the US economy. Retail sales does play a big chuck of the GDP economic pie. And last month, retail sales were -0.2%, so this may effect the GDP; however, going forward, we know that we have investment demand, and with the US election coming up (given that Hillary Clinton stands a chance at winning), I remain confident in the dollar, and I believe that a pullback will cause investors to buy at falling and bargain prices.
So, I will have to read the data coming out and break down the GDP to make sense of it all, and then make an informed decision about it, taking into account our quarterly view. We may in the end just ignore any bad number and look at other economic points that are good for the GDP a month or two from nice, like this months retail sales.
Going in with an open mind! Happy Halloween!
What has me a little concerned is that the GDP coming out won't reflect this months amazing retail sales data for the US economy. Retail sales does play a big chuck of the GDP economic pie. And last month, retail sales were -0.2%, so this may effect the GDP; however, going forward, we know that we have investment demand, and with the US election coming up (given that Hillary Clinton stands a chance at winning), I remain confident in the dollar, and I believe that a pullback will cause investors to buy at falling and bargain prices.
So, I will have to read the data coming out and break down the GDP to make sense of it all, and then make an informed decision about it, taking into account our quarterly view. We may in the end just ignore any bad number and look at other economic points that are good for the GDP a month or two from nice, like this months retail sales.
Going in with an open mind! Happy Halloween!
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Halloween Spook, but buying the dip:
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
