Here’s what’s happening in USDJPY right now

  • Barriers blown at 105.00, further barriers at 104 (and possibly/probably down to 100)
  • Buying was noted from Japanese investors leading to the lows
  • Japanese Investors and financials have bids layered down to the next barrier at 104.00
  • Some (like Nippon Life) may also have been buying in this move, as we previously reported
  • Downward move on break of 105 may not be as fast as some might think
  • Technically, any turnaround needs the price to get back above 105.10/20/30 area but offers are sitting at those levels, 105.50, and strengthen into 105.85/90 & 106.00. 106.00 offers said to be from Japanese exporters lowering prior orders. Stops building above 106.00
  • Jawboning from Japanese officials has started but is ‘low grade’ at the moment
  • Officials are looking for wild speculative moves and we’re not there yet

Ryan Littlestone

Ryan Littlestone

Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”

Read how Ryan got into trading here
Ryan Littlestone

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