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GBP Trade Index 18-Year Chart
Daily GBP (British Pound) chart of 18 years of cyclical developments in finance & politics
smashes through those targets!
Hope this helps.
USD?JPY can be very frustrating to trade, with sharp moves in a short period of time, then seemingly nothing for hours on end.
USDJPY goes up for a few reasons. The main one I believe is a rise in the 10 YR Treasury yield. However, the market is also believing the U.S. will raise rates, or at least start withdrawing liquidity, before Japan. I think this is the reason for todays rise.
It also has tended to track with the equity markets and risk appetite. As risk appetite has risen, so has USDJPY. In saying that, we could expect USDJPY to decline if equities falter (which the PPT will not permit at the moment). As equities sell off, that money tends to buy bonds which brings the 10 YR Treasury yields lower and hence USDJPY decline.
Some other issues to deal with when playing yen crosses are Japanese intervention and jawboning to weaken jpy if it rises to quickly or too much, resulting in a rise in the JPY crosses (as we have seen the SNB do three times in the past month with CHF).
The weapon of choice the PPT used today was bidding USD/JPY. The PPT is quite resourceful. Even a day when Gold and aussie and kiwi are red, and european trash sterling and euro got bashed, the PPT says stocks MUST remain green. So if we can't utilize our customary resources, we'll simply bid th yen crosses higher to deceive the public into thinking all's well with the jobless recovery.
I know, i know - USDJPY is being bid up because spreads on yields is widening.
But if stocks were permitted to go red, then USDJPY and the other yen crosses would get crushed
I closed EUR/USD short a bit early. However, in these markets, cannot really complain.
If you go long euro for a bounce, you are on your own, lol! It is a difficult propsosition going countertrend to an impulsive move and trying to scalp on a consolidation.
BTW, have you heard or read any WEATHERMEN ANALYSTS telling us euro is headed lower? Just yesterday they were telling me 1.3850, then 1.4000.
Congrats again on taking some money from the Cable Cartel, lol! They are a tough gamg to fleece.