- USD/JPY range today 81.65 / 80.99. Last at 81.11. Plan was to buy at 81.00, but have chickened out and pulled my limit buy order.
- Think the Risk Off trade [eg gold 1626 (-1%), S&P futures 1361 (-1%), Copper 362 (-2.2%) after attempted rally into last week's close, US10yy @ 1.92% -4 bp] has more to go. Will watch from the sidelines. Chance to buy cheaper will come.
- Risk missing buying bottom of range again?
2 comments:
CFTC data shows that commercial traders are buying huge amount of JPY contracts. USDJPY should be a sell not a buy.
If only it were as easy as just following the CFTC data.
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