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What will UsdJpy do and where will the pair head this week
Although it looks like the pair is weak, the 1.11 handle seems protected somehow
There has been talk in the markets of Japan intervention if the pair falls too low
This has caused traders to buy dips
Realistically the bank of Japan will not intervene though until things get really bad
If UsdJpy heads towards 105, or even 100
The buying now is just market panic
Still, I believe that UsdJpy will make a move up short-term before more downtime
Traders are selling the pair because the Fed disappointed and will not raise interest rates anymore
But the good thing is that they do not have too - the US economy is strengthening
This should be bullish and traders will realise that and buy more Usd
Also, Eur, Gbp and other majors have gained too much too soon on the Usd
There is bound to be some retracement next week
Anyway, that's how I see it
I am in with small positions because I am tired of losing big,
I plan to build up more equity in the last two weeks of the contest,
my goal is to target between 350K and 400K and move into fourth position in the contest
Great weekend all and good luck next week
Although it looks like the pair is weak, the 1.11 handle seems protected somehow
There has been talk in the markets of Japan intervention if the pair falls too low
This has caused traders to buy dips
Realistically the bank of Japan will not intervene though until things get really bad
If UsdJpy heads towards 105, or even 100
The buying now is just market panic
Still, I believe that UsdJpy will make a move up short-term before more downtime
Traders are selling the pair because the Fed disappointed and will not raise interest rates anymore
But the good thing is that they do not have too - the US economy is strengthening
This should be bullish and traders will realise that and buy more Usd
Also, Eur, Gbp and other majors have gained too much too soon on the Usd
There is bound to be some retracement next week
Anyway, that's how I see it
I am in with small positions because I am tired of losing big,
I plan to build up more equity in the last two weeks of the contest,
my goal is to target between 350K and 400K and move into fourth position in the contest
Great weekend all and good luck next week
