USDJPY chart

Some thoughts on USDJPY but i think it's a USD story not a risk one.

#USDJPY It's a bit odd but I think USD likes the Trump/Xi goodwill story more than jpyxxx and this pair is bid. 110 big fig is now a good base. Look at the work done below. 111.20 ok but 111.70 my favourite level so expect sellers to turn up there. Looking around JPY pairs are mixed. eurusd, cable, audusd, nzdusd near lows. Like I said, a USD story but i do feel it's liking the rumour of good will on Trump/China. A steady US CPI tomorrow could tease a goldilocks if yields behave. And if that happens expect top levels to be tested. I promise not to mention a FED PUT. Oops. hahahaha

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Patrick Reid
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Patrick Reid
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EditorPatrick Reid