I don’t normally trade GBPJPY but I am taking advantage of Yen weakness by being long USDJPY, pinpar reversal at the 200 dma on April 17th made a great technical entry, with strong resistance at 115.00 I will be looking to take some profits there and reload if we get a weak pullback
Yen rallied as US stocks moved lower but then gave back much of it’s gains as stocks rallied into the close, Top SW trade GBPJPY gave back all of last two days gains and was negative for a while before rally into the close, ( I told you this one can be a wild ride)
For the week stocks were mixed with new high in the Nasdaq, Oil grinds higher, Gold and Silver find support, Bitcoin tops 1800 , In currencies Euro might be the play this coming week, All this and more in my weekly market review
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First half of the day has the Commodity block leading, this should lead to a good opening for stocks
Euro extends it’s lead over the rest of the pack, Buying Euro is the play this week, If that changes my strong weak rankings will tell us
Top SW trade EURJPY is having another nice move, up +192 pips from it’s entry point, price has now pulled back from the highs, waiting to see if we get a late day rally
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Here is my latest Strong Weak rankings , Euro continues to rock the rest
Big game changer as far as Yen trades go, but my #2 strong weak trade is now #1 EURAUD , which should do good no matter what the yen does
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Today we saw market take back a portion of yesterdays move in yen pairs, So was yesterday a one a done, time will tell
Last 6 Top Strong Weak trades have produced triple digit gains, Current SW trade EURAUD was up as much as +59 pips before pulling back today.
Here is the complete list starting with current
EURAUD +59 pips
EURJPY +192
GBPJPY +157
GBPCAD +582
GBPAUD +656
AUDJPY +178
NZDJPY +265
Note; this shows the highest pip total while the trade was in play, Each traders trading style will determine how much of the above pip totals they bank. Example, had your trade plan been to capture 100 pips with each trade then you would of had six 100 pip trades for a total of 600 pips profit with no losers. had your plan been to capture 500 pips per trade you would of had 2 winning trades for a total profit of 1000 pips. Scaling in and out of positions is also a means of locking in profits while letting part of your position run for the big score
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Here is my weekly market review
Stocks recover from Wednesday’s deep selloff , Commodities move higher, Euro rules the currencies, but it is the CryptoCurrency market that looks ready to conquer the world, all this and more covered in my weekly video link below
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Thanks for the update.
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I noticed that you don’t discuss about your entries anymore. Is this intentional?
Yen has fallen all the way back to #8 but is it pretty much a dead heat for bottom three, buy the Euro against any of the bottom three is a good play right now
Sometimes I do, I just don’t want to make this a Trade Tip site, I prefer to identify the trends and let each trader use that info along with their own trading plan.
Yen weak and Euro pulls in a bit
I respect that.
Euro stays on top but is pulling in a bit, no real price action signal that this run in the Euro is over
