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  1. #1
    Legendry Member milos's Avatar

    USDJPY weekly call option !!!

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    The RSI lacks upward momentum. The pair has broken below a key support and remains on the downside. Above 116.50 look for further upside with 117.00 and  117.30 as targets.

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  2. #2
    Veteran Member Optionguy's Avatar
    usd/jpy looks a bit overstretched. It did land on support today. There is definitely more room to the upside. Not sure if we are going to see new highs this week. I am looking for correction. At least till the middle of the week. Then, the pair might push the current highs.

  3. #3
    Legendry Member milos's Avatar
    The upward potential is likely to be limited by the resistance at 116.35.The pair has broken below a rising trend line.The pair traded at a high of 117.07 and a low of 115.46. The pair is expected to its find support at 115.50 and its first resistance at 117.11.

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  4. #4
    Legendry Member Michael Hodges's Avatar
    nice post, follow up with the real live trade. very nice.

  5. #5
    Legendry Member milos's Avatar
    Japan slipping back into recession following news of an unexpected contraction in Japan.There’s little if any chance of that country cutting back its quantitative easing program any time soon.Data showed real GDP recorded minus 0.4% in the third quarter in Japan,the world's third largest economy.The pair has hit its today top and is facing a pulled back ahead of further advance with targets 117.05 and 117.3 in extension.

  6. #6
    Legendry Member milos's Avatar

    FOMC Meeting Minutes !!!

    A larger number of committee members noted that they should be alert to the possible fall of long term prospects of inflation.The Fed left its benchmark interest rate at0.25%. It was in line with market expectations.

    The president of the Fed Janet Yellen focused on the improvement in the labor market.They are said to reduce the risk of inflation that is persistently below the target.The minutes showed that board members continue to expect inflation to return to target 2% in the medium term.

    Consumer prices have slowed the growth of 1.4% in September.Inflation has stagnated despite the strengthening of the indicators of the labor market.The unemployment rate has fallen during the last month of 5.8%.Board members noted that the economic outlook has weakened due to the increased risk of economic decline in Japan.

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  7. #7
    Legendry Member milos's Avatar

    FOMC Meeting Minutes !!!

    A larger number of committee members noted that they should be alert to the possible fall of long term prospects of inflation.The Fed left its benchmark interest rate at 0.25%. It was in line with market expectations.

    The president of the Fed Janet Yellen focused on the improvement in the labor market.They are said to reduce the risk of inflation that is persistently below the target.The minutes showed that board members continue to expect inflation to return to target 2% in the medium term.

    Consumer prices have slowed the growth of 1.4% in September.Inflation has stagnated despite the strengthening of the indicators of the labor market.The unemployment rate has fallen during the last month of 5.8%.Board members noted that the economic outlook has weakened due to the increased risk of economic decline in Japan.

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  8. #8
    Legendry Member milos's Avatar
    Japanese Prime Minister Shinzo Abe called early elections for the lower house of parliament.Abe is trying to gain political legitimacy after the devastating published data on the faltering Japanese economy.Analysts are expecting to Abe anyway call elections before it was announced that the Japanese GDP in the third quarter fell 0.4%.

    The fall in GDP is attributed to the increase in taxes that was agreed back in April and why the Japanese have refrained from spending.The media is now speculating that Abe goes by a new mandate in order to postpone the increase of value added tax to at least 18 months.

  9. #9
    Veteran Member Optionguy's Avatar
    Quote Originally Posted by milos View Post
    Japanese Prime Minister Shinzo Abe called early elections for the lower house of parliament.Abe is trying to gain political legitimacy after the devastating published data on the faltering Japanese economy.Analysts are expecting to Abe anyway call elections before it was announced that the Japanese GDP in the third quarter fell 0.4%.

    The fall in GDP is attributed to the increase in taxes that was agreed back in April and why the Japanese have refrained from spending.The media is now speculating that Abe goes by a new mandate in order to postpone the increase of value added tax to at least 18 months.
    What is your opinion about this fundamental data? Will Yen continue going down or market will ignore it?

  10. #10
    Legendry Member milos's Avatar
    Quote Originally Posted by Optionguy View Post
    What is your opinion about this fundamental data? Will Yen continue going down or market will ignore it?
    The pair is pulling back on its support and is shaping a bullish flag with targets 118.4 and 119 in extension.Yen will continue going down!

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