Daniel Mankani "DynamicTrader – Trend Trading Dynamics" Trading for a living, systematically profiting from longer term trends.

13Feb/12Off

USDJPY last 77.60 Continued consolidation in USDJPY above…

USDJPY last 77.60. Continued consolidation in USDJPY above 77.50 and below 77.80 for the past two trading sessions have failed to make any head way, to the upside, nor have provided any signal that a short term peak is on hand. Our Bias remains to the upside and am expecting a break of 77.89 to confirm a potentially longer term low is in place and larger move to the upside develops.

Its hard to see the catalyst for this, but most ideally, it could be BOJ, which is meeting today and tomorrow and in light of the lower than forecast recently released GDP numbers, weakening the yen could be on the cards.

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