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Japanese Yen to Lose More Ground

The Japanese Yen looks set for another leg of losses. In October the USD/JPY closed higher by 74 pips, a relatively small amount. But this doesn't tell the whole story. As we can see on the chart below the pair keeps pushing on the resistance area between the 121 round figure and the August high at 121.73.
With each new test the odds increase that we will eventually see a breakout higher. But where can that take us? Looking at the longer-term charts our target should be near this year's high at …
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Betting on Dollar Weakness Into FOMC Minutes

I'm betting on Dollar weakness heading into today's FOMC minutes. Specifically I have a short USD/JPY at 124.20. This is an area that has been tested all week. Furthermore, the pair has been stuck in a unprecedented 37 pips range all week. A breakout is due and it will likely happen around FOMC minutes.
Little earlier in the day we have some US CPI figures. Both the Core and the CPI are expected at +0.2%. This report usually doesn't deliver large deviations. But even in the case of small differe…
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Bunch of Trades and +30% on My Account

It was a busy day for me. The GBP/JPY long I took yesterday was stopped for 32 pips. Later today the GBP/JPY surged another 180 pips so I completely missed the move.
In the morning I managed to get a good entry short in the Euro (finally). I exited this trade for +31 pips. Later in the day I tried another short near 1.1020 but this time the pair was too volatile and I was stopped out right before it tanked to new lows for the day.
Finally we come to the biggest loser of the day, a USD/JPY short.…
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Betting on Yen Reversal

I bet on a reversal in the Yen pairs today. I picked the GBP/JPY as my target because this pair lost the most in pips terms, close to 400. I longed the pair at 185.17 and I'm currently up 25 pips. A second factor why I chose this pair is UK fundamentals are strong compared to the Eurozone and the Yen is still being QE-ed by the BOJ.
Aside from this trade, I took two others in the early part of the session, a EUR/US short, stopped out for 3 pips and a EUR/JPY short stopped for 9 pips. Overall a g…
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Breakeven For The Day

I ended up close to breakeven for the day. First my pending sell in the Yen got triggered at 123.70. I trailed this trade as best I could but about 10 hours later I was stopped out for + 18 pips.
Later in the day my short Euro trade got triggered at 1.1168. But again we got another reversal. Total for this trade - 5 pips. A short EUR/HKD taken at the same time got stopped for - 135 pips (about 15 Euro pips).
The forex market continues to trade in tight ranges. Not sure if this is due to the summ…
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Loss in Yen, Short Euro

I had a small loss in the USD/JPY today of about 25 pips. Later in the day as the Euro reached new multi-day highs I placed my pending short at 1.1393. This was soon triggered and during the same minute the single currency crashed to 1.1340.
I didn't exit my trades, I still have short EUR/USD and EUR/HKD. I keep trying to enter on the short side. I think the market continues to underestimate the odds for a Greek default and exit from the Euro. The general thinking seems to be that a deal will so…
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iktorn avatar
iktorn 18 Июнь

I believe, that the LONG would be better. :)

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Two out of Three Wins on Yen Reversal

I've had 2 out of 3 winners on a Yen reversal. Yesterday the Yen gained around 2 percent across all pairs after a series of comments by BOJ officials. Most importantly, the governor of the Bank Kuroda said that the Yen shouldn't decline much from its current value. This was followed by comments from 2 other officials on the exchange rate.
I jumped in on the long side as I thought the selling was overdone. The fact remains that the BOJ can only pick one thing, QE or a stronger Yen, not both. And …
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Yen to Lose More Ground

I think the USD/JPY will continue its rally. We broke out above this year's high at 122 on May 26th and the USD/JPY looks unstoppable.
But I think the gains may ease up somewhat so I'm only looking for 60 odd pips in June. A combo of summer season starting and the round 125.00 level putting pressure on prices should keep a lid on major gains.
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fxsurprise8 30 Июль

The meltdown in Chinese equities during July put pressure on the USD/JPY. But the subsequent interventions by Chinese authorities helped to stoke risk appetite across the region and the Yen quickly regained its place as a funding currency.

We are currently quoted at 124.14, after trading as high as 124.51 earlier in the day. We've had trouble breaking past this area and each 10 pips move higher has been a struggle. This is what I expected and with the 125 handle now in sight, I expect the selling pressure to put a lid on prices.

My target is 124.80

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Plans for Next Week

Looking at the pre-market, there wont be much change at the open this Sunday. I'm holding onto my USD/JPY long, hoping that Monday trading will continue the gains. If we manage to establish a base above 120, the Yen could lose more ground.
Later in the week, there may be good opportunities surrounding the GBP/USD. The election on May 7th will be very close, a conservative win is more beneficial for Cable imo.
Not sure what to make of the Euro. We have rallied strongly since April 14th, over 700 …
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Olga18375 avatar
Olga18375 4 Май

good luck!!

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EUR/JPY Trading Back to Equilibrium

Like many Euro denominated pairs, the EUR/JPY has benefited from the large EUR reversal in late April. The currency pair rallied over 800 pips from the lows and closed the month up by +508 pips.
But with the recent gains the pair has been pushed into its old equilibrium space. Take a look at the longer weekly chart below. Notice how we're getting back to the 136 mark, home of many resistance levels. I believe that these levels will repress the gains for EUR/JPY in May. While long-term the curren…
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fxsurprise8 25 Май

So far my prediction is spot on. The 136/137 area, home of several resistance levels, pushed prices down, as can be seen on the chart above. On May 18th we peaked out at 136.94 and it has been downhill ever since.

Today we hit a low of 133.24. We keep fluctuating around my 133.92 target, currently at 133.42. With the high volatility in the Euro, it will be hard to hit my target even though I was right in my prediction. Hoping for some calmer days in the Euro related currency pairs.

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fxsurprise8 26 Май

The EUR/JPY moved close to my target of 133.92. We are currently trading at 133.84. But volatility is still high, not only in the Euro but in the Yen pairs as well. The USD/JPY had a major rally today, from 121.64 to 123.31.

Today's daily range in the EUR/JPY was a sizable 140 pips, with a low at 133.09 and a high at 134.49. We continue to oscillate above and below my target. With both the Euro and the Yen locked in a battle for the weakest currency, this will be a close one!

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fxsurprise8 27 Май

High volatility continues to plague this pair, the EUR/JPY surged 100 pips above my target in the last 24 hours. The weak yen continues to dominate the forex market while the Euro managed to stabilize somewhat. Hoping that the round 135.00 figure will put an end to the most recent gains in the pair.

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fxsurprise8 29 Май

Unfortunately the pair continues the march higher. Today the EUR/JPY closed higher by 64 pips at 136.35. This means that it is currently over 200 pips away from the forecast. It seems unlikely that this will turn into a winner.

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