FXY: How long can the Yen carry trade last?
Updated
There's a monthly time at mode expiration in this instrument coming next month.
It's possible to see a reaction as carry trades get unwound, but it's not clear at what price yet.
The extreme target is not reached, but the time at mode one has been exceeded, and heading for 2x the projected range soon.
I think the dollar rally is about to hit its expiration date, regarding the Euro and the Yen at least, but it can last at least one more month.
Looking at usdjpy closely, and also monitoring the S&P500, TLT, Dax, Nikkei and gold.
These are very interesting times to be a trader!
Will update with more insights and potential trade setups as they come.
Good luck,
Ivan.
It's possible to see a reaction as carry trades get unwound, but it's not clear at what price yet.
The extreme target is not reached, but the time at mode one has been exceeded, and heading for 2x the projected range soon.
I think the dollar rally is about to hit its expiration date, regarding the Euro and the Yen at least, but it can last at least one more month.
Looking at usdjpy closely, and also monitoring the S&P500, TLT, Dax, Nikkei and gold.
These are very interesting times to be a trader!
Will update with more insights and potential trade setups as they come.
Good luck,
Ivan.
Note
Great reaction when the downtrend expired.Note
FXE should be a long once it sells off this week and FXY as well.Note
Time at mode timing is something eh...Trade closed: target reached
Note
I wonder if we'll see a downtrend in FXY soon. We've tested this level twice so far.
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