JPY is technically overbought here, and we do have buying opportunities on the JPY crosses - however I would recommend buy stops at key levels, such as the case here with AJ rather than the other way around. We are both long USDJPY and short GBPJPY thus hedged already, different ball game. BOJ rate information is coming out soon, so be prepared for volatility.
During oscillation phases sometimes short term trades will wind up like this - that's because I'm really still looking for a short around the 19900 barrier on the front contract, so that it can hedge my long positions that I will load up on the back contract.
If you want to know what arbitrage hedging looks like - then here is your example. It's short GBPCHF and long USDCHF
If you have short JPY exposure, like we do - you should be hedged. This is a great setup for that.
No professional trader is macro short the USD at the moment - and those who missed good long USD themes last week will struggle for a very long time. The USD has entered a major bullish cycle, and these short term fluctuations are noise as we are heading past 105.00 and likely towards 120.00 trust that. For macro traders 99.00 is the new real barrier, and for...
Very important levels here... DX traded under a major yearly pivot into the close today and DJ has been slowing down near the 20K barrier. ZB also looks like it has stalled near a key pivot and VX is certainly at the key 12.00 level - from a technical perspective, this market is ready to correct - but expect all pullbacks to remain short and very shallow if we do...
Fairly short commodities here so will be watching AU long to potentially hedge, key barrier comes in at 7350