Seems the Japanese Cabinet Secretary Hosoda says that the USD is going to be able to depreciate more against the JPY. That will probably ease movement over 1.3050 - maybe as early as pre-european open - or during european session - just like wednesday above 1.3010. That is unless someone sees the opportunity to wreak a little havoc weakening ⬠whilst Yen is strenghtening - both vs USD. There are several possibilities here. In which case the EURJPY pair could be the most interesting the next few sessions. The rationale behind this is that now we're starting to see some other spill-over of USD weakness - which could ease pressure on the ⬠- a very welcome easing from both EU corporations and others. Very interesting scenario - and I'm probably not the only one pondering this obvious opportunity right now. The USDJPY movement and the reactions from Japan changes my â¬-bull stance somewhat - against $ and Yen for the medium term that is. Otherwise I think the ⬠should still be considered a strong currency by fundamentals and the potential in the EU vs the top-heavy trend in the US. The EU is still the biggest trading bloc, and there will surely be some rocking the boat - but I see some improvement in the longer run for the EU - both economically and socially. I think the market would both welcome and see the "logic" in such an argument - which would make it all that more possible as an easy escape for the awkward â¬$ trading we see now. Hope you see how this can "make everybody happy". For the very short term we will probably see some bigger volatility - welcome for us who are scalping or otherwise trading.
The nice thing about pleasing everyone here is that US numbers releases will start to matter again - after a blow out on the asian currencies. So I think absolutely everyone will see the pendulum swing the other way and at least pass through the equilibrium some time. Rather easy to be scalping between the high/low on â¬$ today. The 39/38 and 31/32 areas are good entry-levels. I am positive for the session - after the last scalping. I guess I can try and get some normal sleep tonight without staying up coding the graveyard shift.
I collapsed big time--went to bed at 9am got up at 3pm local time. Let me know your experiences with this contract.
It was very good during US RTH. I also did some after asian open, but there are quite a lot of "holes" in the orderbook. Just not that tight spread as during US RTH. I think that 6J was very comparable to 6E with regards to movement within the book, but much less "noisy" - and a little "easier" to read with regards to obvious chart setups. E.g the spread now is still 1 tick - but only for 2-3 price levels with the 4th and 5th price levels sometimes >6 ticks away. You better pray that MM doesn't withdraw from the book when you need him then....
It sounds like you're short I just got up. I'll see what happens after the job report. So far we're seeing a low volume pullup from the 1.3000s.
Are you guys getting e-mail notifications for the new posts? I haven't been getting them for the last day or so.
I was short from 1.3023 got stopped out for -4. Now short from 1.3032. Volume is on the sell side so far. The book is balanced. Edit: I'm praying for a trend day. Otherwise, I'll lock myself into an asylum