GBP/JPY trading
- Thread starter ForexPro
- Start date
Underwater on the short at the moment. I'd expect a big sell-off in equities this afternoon. Which will help (if it happens). GBP/JPY is not the best cross at the moment (as its pulled down by GBP weakness, and pulled up by yen weakness), i favour a GBP/USD short, but we see how things go.
What a rally by the greenback, this is insaneeee. Woww...
I shorted U/J out of the gates b/c of Equity futures and got burned for a 15pip loss. U/J is keeping up G/J.
Strong short on the cable has kept me in profits. It all seems counterintuitive to me at this point.. I don't understand that dollar strength, perhaps big money is buying up USD only to sell it into oblivion.
??
I shorted U/J out of the gates b/c of Equity futures and got burned for a 15pip loss. U/J is keeping up G/J.
Strong short on the cable has kept me in profits. It all seems counterintuitive to me at this point.. I don't understand that dollar strength, perhaps big money is buying up USD only to sell it into oblivion.
??
Maybe we'll have a sell-off later in the day to help us.
I know people on this forum have technical views. But I try and combine both.
So intuitively, I think Fed cut by only 25bps to stimulate liquidity; they announced the auction to stimulate liquidity. Equity mkts retaced all gains during those sessions. Today inflation was high, limiting the feds ability to provide liquidity again by cutting rates. I therefore think the environment is set for dollar strength, & risk aversion.
But getting the timing right in this mkt is tough. This scenario might not happen today, but logically this should happen
I think we "should" be going lower on yen crosses.
I know people on this forum have technical views. But I try and combine both.
So intuitively, I think Fed cut by only 25bps to stimulate liquidity; they announced the auction to stimulate liquidity. Equity mkts retaced all gains during those sessions. Today inflation was high, limiting the feds ability to provide liquidity again by cutting rates. I therefore think the environment is set for dollar strength, & risk aversion.
But getting the timing right in this mkt is tough. This scenario might not happen today, but logically this should happen
I think we "should" be going lower on yen crosses.
Great post.
9 pips? The native spread is about 2 - 3 so you're paying 6 - 7 "commission" per side ($60 - 70 per traded lot). That's crazy.