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Interesting moves in the usd market late in the Asia session today, it doesn't seem to be driven by any fundamental releases or news events. I was long on eurusd in expectation of a move higher, however I closed that in order to have margin to short usdjpy. I do not believe usdjpy can break above 105 without Yellen indicating imminent rate hikes or the BoJ indicating additional stimulus as incoming. Most timeframes are showing usdjpy as overbought based on the RSI indicators, and the Japanese wa…
I_Like_Pizza_More's Blog
Sept 1
US bank holiday should keep volatility low. Japanese yen seems to be over sold at this point especially considering the global risk events occurring. If it continues being heavily sold it should lead to buying opportunities later in the week. The next big news event that I have my eyes on is the RBA rate decision. I doubt much will change since the last statement, and most definitely the rate will not. Seems to me the risk is slightly skewed to it being an Aussie positive event . ECB action this…