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Risk Appetite needs to be monitored next week for price actions

It seems that market has returned for risk appetite after fed rate decision out of the way, market seems to not believe Hawkish Yellen on further rate hikes this year. So the global stock market is rallying and so with carry trades like Japanese yen crosses.
I have my gbp/jpy position opened through the weekend. This upward momentum in japanese yen seems to stay for a while. Unless there is some very bad news market is going to be complacent for now. so for short term yen crosses looks set to go…
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Scope for consolidation with bearish tilt

Currency Pair:Usd/Jpy
Indicators: technical patterns and Sma50(red)+ Sma200 (blue)
Current price: 117.73
Trend: uptrend
Possible trading range:113-120.75
Signals: At first glance on the daily chart we can see a bearish signal coming from a double top ( neckline-115.83) which needs one more leg down until 116 to be taken seriously into consideration. Another worrying sign for bulls is the presence of the price just below the SMA 50.
Fundamentals: Lately the japanese yen has continued to see some …
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marius24 avatar
marius24 9 Feb.

update: Current price - 118.62 and the price lies in triangle which heads towards a breakout either northward or southward. Given the latest positive data coming out of USA regarding the number of jobs added last month i remain in favour of buying Usd/Jpy. Only bad news about Greece and Russia may cancel the bullish outlook for this pair.

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marius24 17 Feb.

update: Current price - 119 . I am bearish on this pair once the ABE stated that further extra stimulus will be counterproductive. SO having this statement in my mind i can't go long on usd/jpy. Only a hawkish surprise from FED can support more rises in Usd/Jpy.

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marius24 23 Feb.

update: Current price - 119.23. My target is situated too low in order to hope for something. LEt's wait and see what the FED will going to see this week.

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marius24 26 Feb.

update: Current price - 119. 40. I have no chance at all. Only a bad news might bring the price close to my target

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TREND TRADER

CURRENCY strategy ANALYSIS & TRADE journals FRIDAY 08 /8/2014 FUNDAMENTAL OUTLOOK GBP/USD: "It seems certain some members of the MPC (monetary policy committee) are moving closer to the time when we could well get a split vote...when the minutes are released in a couple of weeks we may well see some evidence of dissent starting to appear" - Michael Hewson, senior market analyst at CMC Markets Just like their European colleagues, the BoE policymakers decided to leave the benchmark i…
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