BOJ cuts overnight call rate range to 0.0%-0.1%...
JPY at end of trend?
- Thread starter JSSPMK
- Start date
I'm not sure I understand this...
The Japanese weakened the yen overnight, which made the dollar take a dive... shouldn't the dollar strengthen when the yen is weaker?
The Japanese weakened the yen overnight, which made the dollar take a dive... shouldn't the dollar strengthen when the yen is weaker?
China is selling relentlessly - yes. Don´t forget about "yuan policy" pressure, too.
http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=ad6dy8RVp9B0
* Euro (EUR), 57.6% weight
* Pound sterling (GBP), 11.9% weight
* Canadian dollar (CAD), 9.1% weight
* Swedish krona (SEK), 4.2% weight and
* Swiss franc (CHF) 3.6% weight.
* Japanese Yen (JPY) 13.6% weight.
As you can see Yen being only 13% of basket total will only play a big part when it weakens substantially. It was Euro & other currencies that rallied & made DX slip.
89 % of retail traders are long USD/JPY. Ouch ! This cries for further USD/JPY losses...
I think the sponsor of this forum ( FXCM ) is not objecting that I post this very interesting picture :
Source : https://plus.dailyfx.com/tnews/index.jsp?ib=fxcm&lang=en
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USDJPY - The ratio of long to short positions in the USDJPY stands at 8.15 as nearly 89% of traders are long. Yesterday, the ratio was at 8.45 as 89% of open positions were long. In detail, long positions are 2.3% higher than yesterday and 18.4% stronger since last week. Short positions are 6.0% higher than yesterday and 25.1% weaker since last week. Open interest is 2.7% stronger than yesterday and 12.4% above its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.
I think the sponsor of this forum ( FXCM ) is not objecting that I post this very interesting picture :
Source : https://plus.dailyfx.com/tnews/index.jsp?ib=fxcm&lang=en
*No warranties or guarantees are made with respect to the content contained herein. The website and the guests on this site do not take into account the investment objectives, financial situation or particular needs of any particular person. The advice and trading ideas provided on this website are for informational purposes only and are not intended as a trading ideas. Under no circumstances does any advice or trading idea contained herein constitute a solicitation to buy and sell currencies. We do not endorse and cannot vouch for any of the guest traders on this site.
USDJPY - The ratio of long to short positions in the USDJPY stands at 8.15 as nearly 89% of traders are long. Yesterday, the ratio was at 8.45 as 89% of open positions were long. In detail, long positions are 2.3% higher than yesterday and 18.4% stronger since last week. Short positions are 6.0% higher than yesterday and 25.1% weaker since last week. Open interest is 2.7% stronger than yesterday and 12.4% above its monthly average. The SSI is a contrarian indicator and signals more USDJPY losses.
