Video

#SaxoStrats
​The Trump administration has not yet formally deployed the long-awaited latest $200 billion in tariffs against China, but a new Wall Street Journal report indicates that Japan might be next on the agenda.
Day trade
/
Sell
Trade view / 14 February 2018 at 8:31 GMT

USDJPY stalls at 161.8% Fibo; Rallies to be sold

Analyst / PIA First
United Kingdom
Instrument: USDJPY
Price target: 105.17
Market price: 107.42
Background

The dollar came under renewed pressure with USDJPY declining to 15-month lows in Wednesday’s Asian session as liquidation of short yen positions continued amid the break of important technical levels. Dollar weakness supported gold and protected oil prices.

Japanese currency official Asakawa stated that Japan will closely watch whether yen movements had been speculative, although there was little overall currency impact.

Equity markets drifted lower ahead of the US open and US benchmarks also moved lower in early dealings which maintained a robust yen tone. 

Technical
Previous support level of 107.32 broken. 
The medium term bias remains bearish. 
We have a 61.8% Fibonacci pullback level of 106.38 from 98.79 to 118.67. 
The 161.8% Fibonacci extension is located at 107.20 from 110.48 to 108.45. 
Preferred trade is to sell into rallies. 

USDJPY two-hour chart
USDJPY
 source: saxo bank

Management and risk description

Parameters

Entry: Intraday – We look to sell at 107.95

Stop:108.35

Target:105.17 and 104.50 



— Edited by Clare MacCarthy

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
1y
Andrew Perkins Andrew Perkins
Dusting off the cobwebs looking to enter 107.95
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
morning Andy ... great to have you back
1y
FadelSalem FadelSalem
Morning Ian.
Perfect Call Ian, I felt 104 since you wrote it b4 in one of your Tech Anal
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
thank you ... I don't know if I would use abbreviations in this case !!!!! ;-)
1y
FadelSalem FadelSalem
OMG, Am so sorry, Apologize for all readers. I didn't notice
Sure I mean Technical Analysis
1y
Cesime Cesime
LOL
1y
Cesime Cesime
GM Ian
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
lol.... GM Cesime
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
it brightened up my day !!!!
1y
alki alki
LOOOOL ;)))
1y
Norberto Norberto
Thanks Ian, please another question: what is your view on EURGBP?
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
Hi Norberto. Normally inverted to GBPCHF
1y
Norberto Norberto
Hi Ian, thank you, so this means EURGBP had to come down while GBPCHF turns to the upside right?
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
hopefully !!!! lol
1y
Norberto Norberto
YES lol
1y
Norberto Norberto
are you short on EURGBP at the moment?
1y
Norberto Norberto
OK maybe around 0,90 area could be a good short entry
1y
AlexF AlexF
Hi Ian any thought on AUDUSD on that dip ? Gold is back up
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
posted a sell trade this morning but wasn't triggered... support 0.7726 intraday
1y
AlexF AlexF
thanks
1y
AlexF AlexF
also picked up EURCHF 1.15
1y
AlexF AlexF
wow gold is surging...and AUDUSD back to pre CPI
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
got a cheeky GBPJPY long on too
1y
AlexF AlexF
yeah lucky one as well ....though EURCHF and AUDUSD are long recommendation at UBS was looking to re enter them
1y
AlexF AlexF
GBP on fire.....my saxo trader got it wrong went short GBPUSD after CPI donw 80 pips on it now
1y
AlexF AlexF
On the otherhand I have both saxo strategies shorting huge USDJPY 84,5 pips in profit and they keep on adding, more than 2 lots right now
1y
AlexF AlexF
ouf usd is cracking
1y
vyacheslav111 vyacheslav111
Gold ! Your opinion now ?
1y
AlexF AlexF
Both UBS and Saxo reco short gold lol !
1y
AlexF AlexF
Let me get the UBS call and for Saxo read the guy back in sing get many thing wrong
1y
Ian Coleman - First 4 Trading Ian Coleman - First 4 Trading
I concentrate of FX mainly
1y
AlexF AlexF
Ian nice ride on AUDUSD im out before labour data overnight
1y
AlexF AlexF
On Gold guys just out few hours ago from UBS they change their stance lol well Gold did go down from their first reco but now see below
1y
AlexF AlexF
Gold: Balanced risks | 14 February 2018
Chief Investment Office WM
Wayne Gordon, Analyst, wayne.gordon@ubs.com
Giovanni Staunovo, Analyst, giovanni.staunovo@ubs.com
• Higher risk aversion in financial markets has put a spanner in the
works of our anticipated slide in gold. While down roughly 3% from
its end-January peak, it is still up 2% this year.
• Our outlook calls for stronger global growth, though improving
inflation readings, a weaker dollar and gold's low volatility sustains
its hedging qualities.
• Hence, we are changing our near-term stance from bearish to
sideways, expecting gold to trade between USD 1,275–1,375/oz.
We also raise our six-month forecast to USD 1,325/oz.
1y
AlexF AlexF
And by the Way saxo also was short gold ....recently
1y
AlexF AlexF
Saxo may remove these post as it shows .....not their bright side...

Disclaimer

The Saxo Bank Group entities each provide execution-only service and access to Tradingfloor.com permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to Tradingfloor.com and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to Tradingfloor.com is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on Tradingfloor.com or as a result of the use of the Tradingfloor.com. Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through Tradingfloor.com your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. Tradingfloor.com does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail