[SF Monedge]

Short UsdJpy again here @70 and purely week ending/intraday.

[SF Monedge]

My colleagues are looking to take long June Yen futures positions in the week of 4/15 around 6620 and lower.  I am doing nothing but taking sell side trades in spot (Usd/Jy, Eur/Jpy, Nok/Jpy, Sgd/Jpy, mainly) for over a week now obviously but cycling intra-day primarily.  Conceivable Usd/Jpy actually compromises 152 in coming weeks but there is nothing to warrant being on the buy side in my view unless you are balancing portfolios.

[SF Monedge]

The dynamic has concretely changed to a sell bias with UsdJpy finally so updrafts should be expected to be well under 152.  We (may) see the 151.50 area again.  Adamantly do not recommend entertaining the buy side unless you are doing so for portfolio purposes.

[SF Monedge]

In on sell side UsdJpy 157.68, picking away is all.  See UsdChf going higher a bit later where I have resting sells

[SF Monedge]

Apology if too many posts, attempting to be of help.  Took the money here on the UsdJpy sell at 151.52 bid due to the odds of the 10yr yield holding around here and looking to be on the sell side again higher up.  Have trailing sell stop for entry regardless should BoJ get an idea.   Gbp sell is from above current market nearer to the figure.

[SF Monedge]

Viewing gains in EurJpy and Sterling as solid buy side waves against the larger sell side momentum.  Hence am short against Yen again in Eur and Usd, while in on the sell side light in GbpUsd but not as confident in that one so observing intently.  It appears my preference this week has been the risky venture of counter trading.  Noting the yield and hoping it doesn’t decouple with Dxy like it has done more than usual in recent days.

[GVI Forex 2]

USDJPY  30 MINUTE CHART – AN ALERT OR WARNNG?

USDJPY came within a couple of pips of 151.97 yesterday and has backed off a touch but remains bid despite the BoJ intervention threat (note weak JPY crosses.

AN ALERT OR A WARNING

I RECEIVED AN EMAIL ABOUT USDJPY THAT I WOULD NORMALLY IGNORE EXCEPT IT CAME FROM SOMEONE WHO IS A WELL-CONNECTED SOURCE.

THE XXX (NAME OMITTED BUT IT WASN’T THE BOJ) MAY DROP THE BALL ON USDJPY ONE FINE MORNING.

I am only the messenger but would be remiss if I did not pass this on given the source.

[GVI Forex 2]

AUDUSD 4 HOUR CHART – THE OUTPERFORMER

Note, my posts yesterday about following the oath of least resistance.

AUDUSD has so far been the outperformer today as flows from the JPY continue to keep USDJPY in sight of 152 but reluctant to challenge the BoJ while the USD trades soft elsewhere, helped by offsets from JOPY crosses.

I had to go to a 4-hour chart to find the key resistance, which is not until .6635 so damage so far has not been fatal.

In the absence of nearby support, look at former resistance for the first levels. of support or revert to shorter time frames.

[SF Monedge]

AB – love your comments.  On that note of BoJ, I’m in sell side again here EurJpy on a wait and see position I can sit on with no regard for buyers

[SF Monedge]

In about out all day in AudUsd on 8-10 pip dips, gold correlation is fair today. Same with Sterling long side.  Euro will dip eventually as will non Yen pairs, even if not tonight in Asia.  UsdJpy does not like 152 at all.  If it is compromised it won’t last long.

[Ab hk]

The gold bounced right on hourly support, relentless buy…
Dlr/jpy has a ceiling but gold is still luring fishes in. Net not full yet.

[GVI Forex 2]

EURJPY last 164386

See my April 3, 2024 at 1:28 pm path of least resistance post.(EURUSD and USDJPY are both up).

[SF Monedge]

As a proxy, entering the sell side of Singapore Dollar vs Yen (Sgd/Jpy) here 132.50 due to nominal margin/differential exposure vs other pairs .  Can afford to sit on it due to the nominal exposure.

[GVI Forex 2]

EURHPY 4 HOUR CHART

The market is so far choosing the path of least resistance by selling JPY on its crosses.

This is seeing both EURUSD and USDKPY both bid, the latter sees the 151.97 (and BoJ threat) looking while the latter is staying below 1.08 (upside limited while below it)

See the chart for EURJPY levels

Nice call by MOInedge on short JPY vs all

[SF Monedge]

I think the dynamic may be changing for EurJpy from an overall sell bias going back a week or so to an overall buy bias from 162.80 – 163.00 areas.  Could see 164 in days to come.

[GVI Forex 2]

USDJPY 4 HOUR CHART – STILL STUCK IN 151-152

USDJPY in the second week in 151-152 and there seems no rush or pressure on the BoJ to intervene at tgis moment.

So it is sort of a stalemate for now but only below 151 would shift the foicus from 151 and suggest verbal intervention is doing the trick.

[SF Monedge]

I like the buy side of AudCad from lower as posted earlier, but not against Yen so getting short AudJpy here around 9670’s.

[SF Monedge]

Getting short NokJpy around .9800

[Belgrade Bobby]

USDJPY Monthly

This is NOT a Bitcoin, Nvidia or Gold…this is Yen (not Sparta definitely 😀

Mind you, all time High of Modern times is at 160.360

It is becoming kind of hilarious….a Small correction is like 1000 pips lower, and a decent one…well…how about 2.500 pips .

Trading it on anything bigger than half an hour chart takes some Cojones 😀

[GVI Forex 2]

It feels more like the start of a new year than the start of the second quarter.

The key focus will be on US data and how the bond market reacts.

Powell speaks tomorrow.

USDJPY remains in a 151-152 range, betterment bid in the upper half. I read that any intervention should it occur would target a 5 yen drop. I also read that the effects of intervention would be short-lived.

EURUSD stays soft but tight range, suggests a cautious approach awaiting key data from mid-week on