Every little counts! Currently long USD/JPY at 114.76 and debating what to do with it at the moment.
GBP/NZD: Short at 2.1867
I also have a short limit order at 2.1950 in case it starts going against me.
Oil could stall at the 28.00 level. possible support.
Added a bit more during the Asian session dip for an avg of 114.62 and closed out at 114.98 before LO. Was a bit of a flyer in case BOJ decided to throw itās weight around but didnāt happen so looking for better opportunities elsewhere. Might look to short this pop in GBP/NZD after the poor UK industrial numbers depending on how the price action plays out.
I would short it since it broke that long, long term level of 116, not go longā¦
This is risk aversion pure and simple:
S&P500 below long-term level 1,850 has been achieved;
FTSE100 below long-term level 6,000 has been achieved;
US Crude Oil below long-term level 30.00 has been achieved.
All of these asset classes aligning to the downside cannot but
signal that the USD/JPY as a risk-sensitive pair will easily
disassociate itself from any US-Dollar-positive stories and just
plummet on risk aversion, even if the US Dollar index went up
as the Greenback became a safe-haven asset.
John Kicklighter, Chief Strategist for DailyFX.com, has been
covering this USD/JPY duplicity in outlook for many years, and
the recent Yen-crosses boost provided by the BoJās negative rate
announcement has already been discounted by the markets: this
is why USD/JPY is falling, and going long against what will be the
biggest deleveraging of risk-rich assets would be only affordable
to those short-term traders who are comfortable trading against
such a force (just like anyone trading US Oil to the upside, in the
face of its avalanche movement).
All good points as the trend is solidly down and if equities continue to get kicked in the teeth U/J will probably keep falling. I should add that Iām a short-term trader. Iām in and out of nearly all my trades inside 24 hours and the level looked ok for a short term bounce.
I generally donāt like trading a pairās direction where thereās a heightened risk of a central bank intervening / stopping to intervene. So Iām wary about being short Yen right now and, although I didnāt get hurt by it, Iād never touch a CHF pair until the SNB stops itās constant manipulation of CHF.
TP hit while I slept. Closed GBP/NZD for +100 pips.
Nice. Getting an itchy trigger finger again with price heading back up towards yesterdayās entry point?
Iām going to stay out until after Yellen talks and the NIESR GDP estimate, both coming up in less than 3 hours.
Iām in short GBP/AUD from 2.0475. Hopefully the GDP release coming up shortly wonāt mess it up but Iāll be out at B/E worst case scenario.
Your timing turned out well, it could still have some good movement downward. I wonāt be looking for a short unless it retraces back to at least 2.0500.
Yep worked out well - closed it out just now at 2.0350 as looks like it might have found itās footing and didnāt fancy seeing a chunk pop back quickly as seems to happen with these pairs.
Iām only in EurUsd at the moment, got some personal stuff on currently so Iāll likely be quiet the rest of the trading week.
Good luck to you guys, Iāll catch you later
GBP/AUD: Short at 2.0500
I will short again if it gets to 2.0600
GBP/AUD: Position #2 Short at 2.0600
GBP/NZD:
Short at 2.1854
Closed at 2.1745 for +109 pips
Closed both positions at 2.0500 for +100 pips.
Worked out nicely for you. I was watching it live this morning after the LO and hesitated pulling the trigger as it looked like total carnage at the time. Missed my shot then. Opened a half-size GBP/AUD long from 2.0337 a short while ago. Was thinking that RBA Stevens later tonight might take the chance to try and give the Aussie a boot down. Keeping this one on a tight leash though as things are so volatile right now.
Tapped out at 2.04 - didnāt like the look of how the 200HMA seemed to be containing the upside.
Hemmmā¦