Big Trade – New USD/JPY 11.23.2015 +70

12/2 -- BK USD/JPY Big Trade -- Close here at 123.32 for +70. We will reload lower

11/30 -- EUR/CAD Orders Canceled

11/24 -- USD/JPY First Entry at 122.62 TRIGGERED

BK Big Trade -- New Orders for USD/JPY and EUR/CAD

1. USD/JPY

Place Order to Buy 1 Lot USD/JPY at 122.62

Place Order to Buy 1 More at 120.90

Stop for ALL at 118.90

2. EUR/CAD

Place Order to Sell 1 lot EUR/CAD at 1.4270

Place Order to Sell 1 more at 1.4470

Stop for ALL at 1.4650

We are laying out 2 new Big Trade orders this morning. Last week’s Fed speak and FOMC minutes tell us that the Fed is on track to raise interest rates next month and we want to use this latest decline as an opportunity to buy USD/JPY at a lower level. We also believe that this week’s economic reports will be strong, reinforcing the positive outlook for the U.S. economy.

We are bearish euros and despite this morning’s better than expected PMI numbers, we believe the ECB will increase stimulus next month because the outlook for France and the Eurozone as a whole only worsened with the Paris attacks. Also, we have been watching the moves in oil and firmly believe that $40 is a very significant support level. Losses beyond that level should be limited.

Swing

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