Hello, I was wondering if anyone was looking at the YEN crosses and what position to take during the Japanese holiday this week. will the euro continue the crash records against the yen or will the Golden week cause a reversal.
I’ve heard analysts say the the yen crosses usually fall during this time, but I dont know how that is possible this year with the yen at record lows. Whats your take?
Hi Flordia Exchange,
I was considering some of the same things. I think you might find a better try in the USD/JPY. My theme for the week is for a slight dollar rebound. If you look at a daily chart of the USD/JPY, we just broke out of a trend line going back to feb 16 or so. With japan on a holiday, there may not be any jawboning about the currency from Japan, which can just let the USD/JPY move well above 120. Seems like a much easier trade than EUR/JPY. Look for confirmation of dollar strength in the EUR/USD down - Cable down, and Swissie up.