GBPUSD on shay footing amid political turmoil in a key week
Today’s going to be a quieter session in terms of economic news, ahead of key events later this week. There are however at least three factors that need to be watched closely.
BOJ
NQ emini Back As Leader Of The Pack
Some are born to lead and others to follow, and the NQ emini has once again regained its rightful place as leader of US equity markets, following a period when it has been lagging behind its two sisters.
Yen Index Rises After BOJ Disappoints
The Yen index continued to rise overnight as the markets absorbed news from the two day meeting of the Bank of Japan, with the general tone being one of disappointment, and the yen (FXY, quote) strengthening as a result.
USDJPY Now Has 100 In Sight
It was yet another interesting week for the USD, which continued to remain firmly in the control of the bears, with the pair closing the week on a wide spread down candle as pressure continues to build on the pair.
USDJPY Uptrend Pullback Apr 25, 2016
USDJPY broke out of its double bottom formation on the 1-hour time frame, signaling that a reversal from the previous downtrend is about to take place.
USDJPY Potential Breakout Sept 18, 2015
USDJPY has been making higher lows and lower highs, creating a symmetrical triangle on its 1-hour time frame. Price just bounced off the triangle resistance and is currently testing support, still awaiting a bounce or a breakdown.
The Good – The Bad and The Bond Vigilantes
I am not sure who coined the phrase Bond Vigilante, maybe it was Ed Yardeni, but the thought evokes the sound of a hundreds of horses galloping, the thunder of their hooves as they approach. At first, it’s just a faint sound something to make your head lift up.
Abe the Yen Samurai
Fukushima. However, the Japanese public seemed to take responsibility and handled it with class and dignity.
USDJPY Triangle Breakout – Nov 28, 2014
USDJPY showed more momentum as it broke above the descending triangle resistance in today’s Asian trading session.
Morning Outlook – Day After Federal ReserveStatement
With the two day Federal Reserve meeting in the rearview mirror this morning markets are remain flat in the pre-market albeit the DOW and S&P 500 are tilted to the down side.