USDJPY - The Trend Is Decided

15 авг. 2018 г.USDJPY has been retracing downwards since the appreciation which begun from mid-March halted about a month ago.
As analyzed on 10th August, the price rebounded strongly as it retraced into the buy zone and supported by a weekly falling trendline.
And after the rebound, USDJPY has broken above a double falling trendlines, and that's quite a confirmation for the trend to turn bullish already.
As a whole, the dollar is in domination, and it seems that even safe haven assets such as yen, Swiss franc, and gold are all losing out badly to the dollar.

15 авг. 2018 г.

Комментарий

Take cautions!! Yen is unexpectedly strengthening too fast against the dollar. This retracement may be overextended to 110.6.
Advisable to reduce trading size or avoid trading instead.

16 авг. 2018 г.

Сделка активна

Long now. Stop loss unchanged.

19 авг. 2018 г.

Сделка закрыта: достигнута стоп-лосс цена

Stop loss was hit last Friday, though I did cut some position before that.
The market is caught in a sudden surge for safe haven due to Turkey issue and at the same time, the dollar hit a peak and is undergoing a major retracement.
However, USDJPY is still holding on to 110 with technical support by multiple trendlines. Safe haven demand is usually a temporary effect, and eventually, the price will still recover and move in the major direction. There's no doubt that a widening gap of monetary policy between BOJ and the Fed will cause USDJPY to gain further.