[GVI Forex 2]

EURJPY 161.55, USDJPY 148, EURUSD 1.0815

Large order to buy EURJPY 

EURUSD running into resistance above 1.0820

Since EURJPY = EURUSD x USDJPY

If EURUSD can’t move higher, the only way for EURJPY to move higher is via a firmer USDJPY

If  148+ proves tough, then the only way EURJPY can move higher is via a firner EURUSD

Note, stocks backing off earlier highs.

[GVI Forex 2]

EURJPY 4 HOUR CHART – Tug-of-war

Tug-of-war: Cross is still bid…EURUSD AND USDJPY both bid, latter making a run at 148, not touched), former retesting 1.0921-22., holding so far.

Key level at 161.27 broken… significance isa that firm break would leave a void until above 164.

[GVI Forex 2]

USDJPY 4 HOUR CHART –  Watch EURJPY

As I have noted many times, when you see the JPY diverge vs how other currencies are trading vs the dollar you can assume a cross flow is behind the move.

This was the case earlier where EURUSD was bid and so was USDJPY. (Note a firmer EURJPY).)

Looking at the chart, you can see  how 147.79 resistance capped the upside.

Only back above this level and 148+ would suggest a greater retracement risk.

On the downside, below 146.50-55 would be needed to start a fresh leg down.

Otherwise range is essentially 146.50-147.80.with one eye on EURJPY and the other on the risk mood set by US stocks

[GVI Forex 2]

Let’s see if USDJPY (firmer) is foreshadowing stabolizing or a bounce in stock.

[GVI Forex 2]

Using my platform as a  HEATMAP shows

EURUSD, which lagged yesterday jumping back into the lead, extending its high above 1.09.

Others following with a lag except cUSDJPY, which is about unchanged after leading yesterday as  stocks steadied overnight.

A very light calendar today leaves the focus on US stocks to set the risk mood and headline news.

[GVI Forex 2]

Posted in our blog

Is USDJPY headed for 140?

The stars seem to be lining up for a weaker USDJPY.

Is USDJPY headed for 140?

[GVI Forex 2]

USDJPY high just now 147.30… so paused below 147.35

[GVI Forex 2]

Now USDJPY pop back abOve 147… above 147.17 breaks momwntum but faces resistance at 147.35

[GVI Forex 2]

It is all about a risk off day and JPY getting the safe haven flows. CADJOY remains the worst performer (weak CAD)

[GVI Forex 2]

USDCAD 4 HOUR  – TARIFF CLOUD

CAD has been the underperformer today, weaker not just vs the USD but vs the JPY as well

Political vacuum to deal with the tariff cloud hanging over Canada  is seen on this cart that would need toi regain 1.4435-50 to put the key 1.56+ area on plat again.

Keeps a bid as long as it holds 1.4350-55.

[ST London]

UsdJpy 147 is crucial

Patience

If it bounces see what happens at 147.25 for a failure would give immediate straight line to 146.25 then remaining below 147 after that would give something like 146.86

[GVI Forex 2]

USDJPY DAILY CHART –  DOWNTREND

Solid downtrend that shows a void on the downside.

This makes the most recent low (146.92) the closest support with a void until 145.90 and 141.64.

Another way to look at it is 146.50 blocks exposing 145.00.

Only back above 148 would deflect the risk

[GVI Forex 2]

EURUSD bounce just now from above 1.08 would need a solid 1.0850+ to shift the focus away from 1.08 and back to the 1.0888 high.

Bounce in EURJPY just now seemed to coincide with a modest bounce in US stocks off the lows.

In the current environment, look for stock market bounces to lack follow through, for exampole, as long as US500 stays below 5800

[GVI Forex 2]

Using my platform as a HEATMAP

Mixed start to the week

EURUSD backing off towards (but still above) 1.08.… USDJPY weaker ==> EURJPY weaker (GBPJPY as well) asa JPY gets safe haven flows.

AUDUSD, NZDUSD a touch firmer, USDCAD about unchanged

Tariffs, trade war risk, recession talk weighing on US equities

The Savvy Trader was ahead of the curve when he wrote this article’

Is the U.S. headed for a recession by the Savvy Trader?

Light calendar so another headline watching day after Trump weekend comments (scroll below) added to a risk off mood

[GVI Forex 2]

Like a broken record…usdjpy follows stocks… commodity currenies bounced on offsets

New ball game next week.

[GVI Forex 2]

Stocks extending lows… NAS100 now off 10% from its record high and in contraction territory… USDJPY FOLLOWS

[GVI Forex 2]

Remember the word I used skittish>

Stocks pop higher => USDJPY follows

[GVI Forex 2]

Mixed bag on a NFP Friday.. head spinner

USDCAD higher after a CDA jobs miss… AUD and NZD weaker… EURUSD tests 1.0850, still pivotal… USDJPY EXTENDING ITS LOW AS US STOCKS SLIDE

[GVI Forex 2]

Mixed bag on a NFP Friday.. head spinner

UCAD higher after a CDA jobs miss… AUD and NZD weaker… EURUSD TEsts 1.0850, strill pivotal… USDjpy EXTENDING ITS LOW

[GVI Forex 2]

Stock rally fizzling… note the risk on/off correlation with USDJPY