USDJPY 157.75 atm
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Reminder / promise :
Japan Fin Min Kato said, earlier this week, that the authorities would take appropriate action in response to excessive moves.
It’s Friday and not a normal one as markets are still in thin holiday mode trading.
EURUSD yet to extend its 6 day pattern around 1.04 supported by various crosses (e.g. EURGBP. etc), which would normally be a bullish sign. Note the USD trades firm elsewhere.
There doesn’t appear to be any specific reason for EUR strength so assume it is year end demand (real money flows)
As I have been noting, only 1.0450+ would shift the risk to 1.05 and postpone a broader downside risk
USDJPY pause below 158 suggests the verbal intervention risk taken seriously as above it opens the door for 160
AUDUSD at its low for the year where .62 is pivotal
25 days to inauguration
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..”According to Fox News senior congressional correspondent Chad Pergram, should unhappy House Republicans depose House Speaker Mike Johnson (R-LA) that could put in place a delay in certifying Donald Trump as the next president.”…
It would appear EurJpy is targeting 166+ which would coincide with Dow stocks (neural relation). A few people have been suggesting the long side of Euro recently and it is surely playing out in EurJpy.
The big trading and investment trends that will drive a huge chunk of the buying and selling. While only a forecast, this type of outlook could help you to better prepare your trades.
The big trading and investment trends that will drive a huge chunk of the buying and selling. While only a forecast, this type of outlook could help you to better prepare your trades.