USDJPY Detailed FA & TA for week of Aug 28
From friday's Jackson hole speech from both yellen and draghi, the market has been extremely supportive ending the lows of the day at 109.113 , which only indicates that we have a fair amount of buyers willing to buy dips as we approach to the 109 handle. while i was shorting this pair through friday, i realised how the market reacted to the news , and i did expect the market to fall further towards the 108 area but did not happen, and it shows that we have to adapt to BUY MORE DIPS as we enter into the demand zone as highlighted above.
on the other hand, we do have a few key reports this entire week to take note of as stated below:
29th Aug - C B Consumer Confidence
30th Aug - GDP (QoQ)
30th Aug - ADP Nonfarm Employment Change
31st Aug - Pending Home Sales
1st Aug - Non farm Payrolls (MAJOR)
I will be looking forward to any data to come out as negative before the NFP to create another Dip into my stated demand zone, which i will then hedge a bunch of long positions towards the 110 handle and up. As far as with trading with NFP i would like to highlight that i will be going LONG but would be setting a O C O short order (Insurance trade) at a range of about 20 pips, just minutes before the release at 8:30am EST. (Yes i believe in a solid better than expected report this month)
with respect to the tension between N K and US, there was an article from bloomberg saying that N K has test fired 3 short range missiles at a range of 250 miles, 1 with a failed flight and another one blown up immediately (seriously N K is that the best you can do?)
remember to always trade safe with plenty of alternatives when it is with this pair, because i believe this pair tends to plummet in times of fear.
on the other hand, we do have a few key reports this entire week to take note of as stated below:
29th Aug - C B Consumer Confidence
30th Aug - GDP (QoQ)
30th Aug - ADP Nonfarm Employment Change
31st Aug - Pending Home Sales
1st Aug - Non farm Payrolls (MAJOR)
I will be looking forward to any data to come out as negative before the NFP to create another Dip into my stated demand zone, which i will then hedge a bunch of long positions towards the 110 handle and up. As far as with trading with NFP i would like to highlight that i will be going LONG but would be setting a O C O short order (Insurance trade) at a range of about 20 pips, just minutes before the release at 8:30am EST. (Yes i believe in a solid better than expected report this month)
with respect to the tension between N K and US, there was an article from bloomberg saying that N K has test fired 3 short range missiles at a range of 250 miles, 1 with a failed flight and another one blown up immediately (seriously N K is that the best you can do?)
remember to always trade safe with plenty of alternatives when it is with this pair, because i believe this pair tends to plummet in times of fear.
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TP-ed