My colleagues are looking to take long June Yen futures positions in the week of 4/15 around 6620 and lower. I am doing nothing but taking sell side trades in spot (Usd/Jy, Eur/Jpy, Nok/Jpy, Sgd/Jpy, mainly) for over a week now obviously but cycling intra-day primarily. Conceivable Usd/Jpy actually compromises 152 in coming weeks but there is nothing to warrant being on the buy side in my view unless you are balancing portfolios.
Apology if too many posts, attempting to be of help. Took the money here on the UsdJpy sell at 151.52 bid due to the odds of the 10yr yield holding around here and looking to be on the sell side again higher up. Have trailing sell stop for entry regardless should BoJ get an idea. Gbp sell is from above current market nearer to the figure.
Viewing gains in EurJpy and Sterling as solid buy side waves against the larger sell side momentum. Hence am short against Yen again in Eur and Usd, while in on the sell side light in GbpUsd but not as confident in that one so observing intently. It appears my preference this week has been the risky venture of counter trading. Noting the yield and hoping it doesn’t decouple with Dxy like it has done more than usual in recent days.
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