Should the market grow suddenly risk averse, interbank traders tell us that Japanese bids are down at the 83.50/55 level. We’ve been as low as 83.58 in recent sessions. Some chatter about a barrier at the 83.50 level was heard earlier in the week,
6 Responses to “Japanese bids at 83.50/55”
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AUTOREFRESH 
I’m just looking at an hourly chart for USDJPY and the 1% normal distribution channel along with hourly trendline support sit exactly together this hour at 84.15 so any break below that could prove quite swift. Also, there a rather ominous looking, gigantic, massive, colossal triangle playing out taken from yesterday’s low – high through today’s low – high with all today’s coiling in between. A break in front of tomorrow’s NFP would seem the least likely scenario but things are getting tighter by the hour.
And I thought there might have been a eur/jpy donkey grazing on the hourly.
But ohhh noooo.
retail positions from two different houses are even longer now… 78% & 86%, up from 70% & 80% yesterday… If there’s any upmove I’m guessing they’d shake those buggers out first… if it’s a downmove, then wheeeee.
So there is – well spotted. Mind you it’s head looks like it’s shared some of the DNA with Dolly the sheep. It might turn into Donkeystein …
Yes the LS Ratio is heavily biased and getting more so as it moves down …
looking into the crystal ball and seeing an evening star formation (spx, aud/usd, etc) … if nfp sucks