Goldtent TA Paradise

$XJY Monthly Questions

1. Bikoo99 says:

   April 16, 2018 - 2:49 pm at 2:49 pm

   Japan’s PM is in Maro largo Florida meeting with DJT??? What that is going to bring??

   • JenkinsLane says:

     April 16, 2018 - 2:49 pm at 2:49 pm

     No clue.

2. Paul says:

   April 16, 2018 - 3:14 pm at 3:14 pm

   Thanks JL,
   The waterfall declines in mid 2014 & new year 2017 indicate (to me anyway) that Mr. Market sees a massive 20 yr H&S forming, with neckline at c.80. And that would correspond with what we know about the shipwreck that is the Japanese economy these days.

   In the short term, John Hardy (Head FX @ Saxo) sees JPY perhaps heading back into the Ichomoko cloud:

   Friday 13th (Morning): Hardy also notes the yen’s continued weakness with USDJPY pushing on resistance at 107.50 for a potential re-entry into the Ichimoku cloud above 108.00. In his view, the USDJPY rally does not yet look to be particularly dramatic but could extend if the current swell in risk appetite – due partially to President Trump’s unexpected reversal on the Trans-Pacific Trade partnership – continues in the short- to medium-term

   Monday 16th (Morning): “USDJPY fizzled into the close on Friday, and the minor reversal keeps the suspense level high on the status of the USDJPY and JPY-cross rally. Risk appetite and volatility in the US yield curve this week will be the likely drivers of the action as we await the Bank of Japan meeting announcement on Friday, April 27”
   .

   • JenkinsLane says:

     April 16, 2018 - 5:50 pm at 5:50 pm

     Thanks but I doubt the H&S scenario.

     If it does fall heavily again, as of now I’m be looking at it as a potential double bottom.

3. Dave says:

   April 17, 2018 - 11:45 am at 11:45 am

   Thanks JL