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Sleepy day in the market
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Will Yen weakness over sometime soon. It has lost at least more than 5% in a month. Huge move for worldās 4th largest reserve currency
any views?
Itās almost impossible to say with any real degree of confidence. Thereās often times of regionalised prices rising and we know how that affects currencies, but we now have a global situation of increased prices and high inflation.
NZDJPY isnāt anywhere near the highest itās been in the last decade, so thereās no reason to say it canāt continue. The market conditions now are almost unprecedented. But trying to catch a falling knife is never a good idea. So my advice would be stay well clear until thereās a confirmed reversal and some form of fundamental reason to go against a very strong trend.
Like the famous economist John Maynard Keynes said, " the markets can remain irrational longer than you can remain solvent
In simpler terms, Donāt bet against the trend
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All is well in the SW currency world, only the Euro had a small loss this week against the Yen, and top-rated AUD just completed 10 up weeks in a row against the yen, Donāt bet against SW or the trend
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I had to hike a mile up a mountain trail to get a cell signal to update my rankings, but what a view!
Currencies up, stocks down, bitcoin way down
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Small gain for AUD, the rest were slightly negative as were stocks
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Dangerous thinking. The idea that a strong trend is always about to reverse can cause paralysis, so the trader misses out on big moves which have a high probability of success.
Even worse, anticipating a reversal can lead to costly counter-trend positions. My broker reports that 86% of their clients with open positions on USD/JPY are short. They also report that currently 66% of their clients are losing money. There might be some connectionā¦
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We could have had a perfect green day, but no, NZD had to ruin it
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My Excel program crashed
here is my rank order
CAD
AUD
USD
GBP
NZD
CHF
EUR
JPY
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On this Resurrection Sunday, I was able to resurrect Excel from the dead and reinstall it on my 12-year-old laptop, All seems to be working normal,
Looking at our currencies, it was another all green week for our Yen pairs, Long term SW trade USDJPY continues to hit new highs and is now up over 1400 pips from its entry point
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We start the new week mixed but not far from the opening price, Gold and Oil are up over 1%, this should all equal a negative Stock Market open
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for you gold bugs, could this be a cup/with a handle
Gold is up for the year, only Utilities and Energy can also make that claim
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Hi dennis! Got a question - why did you enter the USDJPY pair? I havenāt seen USD top strong, jpy weak for some time!