Interesting headlines from Mimura last night: “DON'T SEE ANY DISPARITY BETWEEN RECENT YEN MOVES AND RECENT POSITIVE GDP, DOMESTIC INFLATION DATA”
and “SIGNALS HE SHARES MARKET VIEW ON BOJ POLICY” – I guess this is not overly surprising given the market narrative, but the JPY is moving quickly and there is clearly zero pushback in Japan. Our conviction remains strong here despite the fact that being long JPY remains an uncomfortable watch in these markets. Clearly, rates have moved a decent amount at this juncture, so we could remain in this uncomfortable state of consolidation in the short term, especially as the randomness of month-end takes hold. Data dump today from the US with IJC the most important ahead of the Jan PCE numbers tomorrow, 148.50/60 is initial support in USDJPY ahead of 147.00/20, while 150.90/20 remains the first real resistance. Meanwhile, the 155.80/20 level in EURJPY is building in significance with yet another hold overnight. SHFs extended their buy streak to 13 yesterday, while RM remain frustratingly quiet. Tokyo CPI tonight.
and “SIGNALS HE SHARES MARKET VIEW ON BOJ POLICY” – I guess this is not overly surprising given the market narrative, but the JPY is moving quickly and there is clearly zero pushback in Japan. Our conviction remains strong here despite the fact that being long JPY remains an uncomfortable watch in these markets. Clearly, rates have moved a decent amount at this juncture, so we could remain in this uncomfortable state of consolidation in the short term, especially as the randomness of month-end takes hold. Data dump today from the US with IJC the most important ahead of the Jan PCE numbers tomorrow, 148.50/60 is initial support in USDJPY ahead of 147.00/20, while 150.90/20 remains the first real resistance. Meanwhile, the 155.80/20 level in EURJPY is building in significance with yet another hold overnight. SHFs extended their buy streak to 13 yesterday, while RM remain frustratingly quiet. Tokyo CPI tonight.
1. AccuTrade System:
tradingview.com/v/yDFPnb1J/
2. Signal Performance:
thedailyfx.com/performance/
3. Best Forex EA:
thedailyfx.com/beetle-ea/
4. Free Forex VPS:
myfxvps.com/get-it-free/
tradingview.com/v/yDFPnb1J/
2. Signal Performance:
thedailyfx.com/performance/
3. Best Forex EA:
thedailyfx.com/beetle-ea/
4. Free Forex VPS:
myfxvps.com/get-it-free/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
1. AccuTrade System:
tradingview.com/v/yDFPnb1J/
2. Signal Performance:
thedailyfx.com/performance/
3. Best Forex EA:
thedailyfx.com/beetle-ea/
4. Free Forex VPS:
myfxvps.com/get-it-free/
tradingview.com/v/yDFPnb1J/
2. Signal Performance:
thedailyfx.com/performance/
3. Best Forex EA:
thedailyfx.com/beetle-ea/
4. Free Forex VPS:
myfxvps.com/get-it-free/
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.