I believe the area of 8.30 may be re-tested soon. Probably just a support re-test.
Sure, the Yen is overly weak on a trade-weighted basis BUT it is the least weak versus the USD! E.g., For any intervention to be effective it ought target just about any other high yielding spread/pair EXCEPT for the USD! Having established that, it is still far more likely that any intervention would target the USD/JPY directly than the rest, if for no other...
The BoJ, if anything, made it's "guidance" even murkier (as if that were anyway possible) with it's most recent policy announcements. E.g., let's just say that the Yen, currently residing just below the miner-frog's hind quarters, has a better chance to start working it's way higher than otherwise. Simultaneously, the Mexican Peso, having just completed a couple...
MXNJPY $MXNJPY Initial Long (extremely high risk). This isn't even a tradable pair for most, but it's worth posting anyway. It's been chopped to h*ll the last few signals, let's see if we can pull out a win here. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
MXNJPY $MXNJPY Initial Long. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
The Mexican Peso is gaining strength against the Yen as a recovery in global growth in 2021, reduces the demand for the safe-haven Yen and increases the demand for the Mexican peso. We look at why the Japanese Yen is a safe haven currency of choice, alongside Interest rate differentials that will play a key rol in the outlook for gains in the peso. I give...
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Hi there. Price is forming a reversal pattern to change its formation. Wait for the price to complete the pattern and watch strong price action for buy.
Hi there. Price is moving impulsively to the upside. Wait for the price to form a continuation pattern on a lower time frame and watch strong price action for buy.
ENTRY: 5.5100 TP: 5.4500 TP2: 5.4000 TP3: 5.3500 SL: 5.5930 Chart time frame - 1D Time for reaching TP - 1-2D Follow, Like, Share or Comment Thanks on supporting! All best!
Hi there. Price is forming a reversal pattern to change its direction. Watch strong price action at the current price for buy.
watch out for this drop SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
Long MXNJPY @ 5.615; TP @ 5.728, SL your choice
Short MXNJPY @ 5.97; TP @ 5.8512, SL your choice
Presidential Election - Trump wins - MXN more sensitive than USD, Yen to pick up the risk-off shift: 1. Positioning for a trump win is much more interesting than a hilary win but nonetheless both should be profitable at some level. My number 1 position will be SHORT MXNJPY for a number of reasons 1) MXN has been very sensitive to the USD election given trade...
Presidential Election - Trump wins - MXN more sensitive than USD, Yen to pick up the risk-off shift: 1. Positioning for a trump win is much more interesting than a hilary win but nonetheless both should be profitable at some level. My number 1 position will be SHORT MXNJPY for a number of reasons 1) MXN has been very sensitive to the USD election given trade...
RESISTANCE @ .0533. Go Short as soon as it hits resistance line.