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Big Trade USD/JPY New Orders 02.15.2016 – LIVE
Ok guys we are heading into Asia -- put a 113.48 Take profit on USD/JPY Big Trade
Order to SELL USD/JPY at 114.18 TRIGGERED
Kathy Lien [9:44 AM]
BK USD/JPY Big Trade -- Order CHANGES
*We missed our entry by 7 pips but we strongly believe that tomorrow’s FOMC minutes will renew the decline in the dollar and we want to be short USD/JPY ahead of the event. As such we are LOWERING our USD/JPY entry orders to the following
Place Order to SELL USD/JPY at 114.18
Stop at 116.18
Big Trade -- USD/JPY
Place Order to Sell USD/JPY at 114.95
In the last 24 hours, we’ve seen a very nice recovery in risk appetite. Investors were relieved that Chinese markets did not open sharply lower leading to another round of risk aversion in the markets. However Chinese exports were very weak and we believe that Wednesday’s FOMC minutes will remind investors how low the chances are for a rate hike from the Fed next month. The rally in the Nikkei overnight is also undeserved given the weakness in Japanese GDP numbers. We view the recent rally in USD/JPY as a dead cat bounce and want to sell into the move.