USD/JPY Big Trade 03.17.2017 +40

Swing

3/21 BK USD/JPY Big Trade – Close at Market

112 is a very important level in USD/JPY so we’re closing the trade ahead of that level at 111.92 for +40, Reload with the following orders to establish a better entry price. We think USD/JPY will dip again before making a run back into its previous range

Place Order to Buy USD/JPY at 111.27

Stop at 109.27

3/17

Buy USD/JPY at market (now 111.52)

Stop 109.52

The relentless selling of U.S. dollars after Wednesday’s FOMC announcement took USD/JPY into intervention territory and like clockwork, the Bank of Japan responded by bidding up USD/JPY shortly after it hit a fresh 16-month low. In a matter of minutes right around lunchtime in the U.K., USD/JPY jumped nearly 100 pips from its low of 110.67. This is the third time in 6 weeks that the BoJ stepped in to buy USD/JPY below 111 as they clearly don’t want to see the currency pair trading on the 110 handle. The risk of additional intervention is heightened by counter positioning – according to last week’s CFTC report, Yen longs are at the highest level since the height of the financial crisis in November 2008. While the Bank of Japan sounded less pessimistic at this week’s monetary policy meeting, the recent climb in the Yen changes things completely. Japanese policymakers may have been looking for the Fed to do the heavy lifting – but Yellen failed to deliver and now the risk is to the downside for the dollar. Not only do we expect more jawboning of the currency in an attempt to drive the Yen lower tonight but Japanese officials could take this opportunity to remind investors that rates could be lowered again. At 113, the BoJ has leeway to wait but at 110-111 with the risk of further losses in USD/JPY, they my not be able to forestall easing for much longer. Yen strength is a big problem for Japan’s export sector especially in an environment of slower growth in China and the Eurozone. If USD/JPY drifts lower again, we expect more aggressive action from the Bank of Japan.

Day Trading Signals April 28 – Weekly Tally +40 pips

News

BK NEWS TRADES with our Economic Data Projections   

Videos on How to Trade our 3 BK News Strategies 

How To Trade AJAX

How To Trade Crowd Fighter

How To Trade C – Trade 

BK Day Trading Chat Room Results  4/20-4/24

BK Trading Room Results

4/23

NZD/JPY +10

4/22

EUR/USD +10

AUD/USD +10

4/21

NZD/JPY +10

4/20

EUR/JPY +10

   

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Just Email [email protected] with subject line “Slack”

   

****NOTE we are going to trade C-Trade and Crowdfighter on 15 Minute rather than 5 minute delay on all pairs today***

  

Date Currency
Event
GMT Strategy
Apr 28- Tu GBP/USD UK GDP 8:30 C- Trade
Apr 28 – Tu GBP/USD UK GDP 8:30 C-Fighter

 

  

Last 24 hours Results
Crowd Fighter 
No Trades
 

 
C-Trade
No Trade
 
  

CALENDAR CALLS

Here’s what we are looking for in tomorrow’s economic reports (April 28, 2015) – Good Luck Trading!

1. UK GDP (4:30AM ET) Bearish GBP — Potential downside surprise given drop in retail sales and trade balance in first quarter

2. US S&P CaseShiller House Prices (9AM ET) No Trade — Hard to call given rise in average price of existing home sales and drop in new home sales

3. US Consumer Confidence (10AM ET) Bullish USD — Potential upside surprise given rise in the IBD/TIPP and University of Michigan Consumer Sentiment indices 

Day Trading Signals April 27 – Weekly Tally +40 pips

News

BK NEWS TRADES with our Economic Data Projections   

Videos on How to Trade our 3 BK News Strategies 

How To Trade AJAX

How To Trade Crowd Fighter

How To Trade C – Trade 

BK Day Trading Chat Room Results  4/20-4/24

BK Trading Room Results

4/23

NZD/JPY +10

4/22

EUR/USD +10

AUD/USD +10

4/21

NZD/JPY +10

4/20

EUR/JPY +10

   

Want to join our chat room (its included in your subscription)?

Just Email [email protected] with subject line “Slack”

   

****NOTE we are going to trade C-Trade and Crowdfighter on 15 Minute rather than 5 minute delay on all pairs today***

  

Date Currency
Event
GMT Strategy

 

  

Last 24 hours Results
Crowd Fighter 
No Trades
 

 
C-Trade
No Trade
 
  

CALENDAR CALLS

Here’s what we are looking for in Monday’s economic reports (April 27, 2015) – Good Luck Trading!

1. US Markit Composite and Service PMIs (9:45AM ET) No Trade — US Markit PMIs are difficult to handicap but is becoming increasingly market moving for dollar