BKSWING – New USD/JPY and GBP/AUD Order for 11.13.2014

US retail sales are scheduled for release on Friday and based on the ICSC and Johnson redbook retail sales reports, spending should be strong. If the data beats expectations, it should be just what traders are waiting for to drive USD/JPY back above 116. To take advantage of this opportunity, we are laying out an order to buy USD/JPY at 116.35. Along these same lines, the worst performing currency today is the British pound which has been hit hard by shifting rate hike expectations. As recently as 2 months ago, the market was pricing in a February rate hike and now they are looking for tightening after October. We expect further weakness in sterling and believe that the best way to position for this is through GBP/AUD and a break below 1.80. ** Please remember we remain LONG EUR/CHF at 1.2055

1.Buy USD/JPY at 116.35

Stop at 115.75

Close 1/2 at 116.65

Close rest at 118.00

2.Sell GBP/AUD at 1.7973

Stop at 1.8033

Close 1/2 at 1.7943

Close rest at 1.7725

***Remember, if 2 orders trigger without one hitting T1 first, all other orders are canceled

Swing

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