USD/JPY Losing Yield Support
The USD/JPY rally has been driven by sharp increase in US interest rates and in particular is very sensitve to 10 year movements.
What has happened since the FED rate hike is a high in yields has been put in short term and we are consolidating lower, this has not yet jumped across meaningfully to the USD/JPY which is rallying on Momentum and made fresh highs 136.99 before easing back 136.55 as we go into the Asian open on the 30th.
Counter trend trading is tough so make sure stops tight and with selloffs they can be quick and then sharp bounce back with trend.
This means putting take profits in is more important that normal in these sort of trades.
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What has happened since the FED rate hike is a high in yields has been put in short term and we are consolidating lower, this has not yet jumped across meaningfully to the USD/JPY which is rallying on Momentum and made fresh highs 136.99 before easing back 136.55 as we go into the Asian open on the 30th.
Counter trend trading is tough so make sure stops tight and with selloffs they can be quick and then sharp bounce back with trend.
This means putting take profits in is more important that normal in these sort of trades.
easyMarkets Account on TradingView allows you to combine easyMarkets industry leading conditions, regulated trading and tight fixed spreads with TradingView's powerful social network for traders, advanced charting and analytics. Access no slippage on limit orders, tight fixed spreads, negative balance protection, no hidden fees or commission, and seamless integration.
“Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. easyMarkets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based o n a recommendation, forecast or any information supplied by any third-party."
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