Saturday February 25, 2017 - 14:26:15 GMT
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Amazing Trader And Commitment Of Traders USDJPY Ideas for 24 Febrary 2017 Register for the Amazing Trader
We continue to say that short-term trading is all about stops. The Commitment of Traders Reoprt (COT) is an imperfect but useful "sampling" of market positioning. Unlike in EURUSD, USDJPY held steady in the week ending last Tuesday.
Japanese forex policy could become a target of the new administration, just like China is. Tokyo has managed the value of USDJPY clandestinely for many years. This cannot be lost on Washington. Washington will demand something in return for continuing to look the other way. We suspect that the Bank of Japan has been putting a floor under USDJPY at 112.00. The USDJPY tends to correlate positively with the yield on the U.S. 10-yr note.
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