USD/JPY orders

  • Offers large at 99.00
  • Offers of good size too 98.50 and 98.60
  • Small offers 98.25/35, with some trader stop losses above 98.40
  • Bids of good size at 97.50, but also good bids 97.60 and 96.70
  • Stops below 97.60 and 97.50

There is likely to be some month end demand for USD/JPY today, though much of it was satisfied yesterday, so not expected to be a big factor today.

 

Author: Eamonn Sheridan

Eamonn Sheridan worked with Bankers Trust Australia for 13 years as a Spot foreign exchange dealer, trading across all major currencies and all time zones. He rose to a Vice President position, running spot operations during the busy European time, leaving the bank just prior to it being sold to concentrate on running his own business in the ‘real world’! The markets, however, had him hooked – he continued to trade equities, CFDs and then on to futures, giving him broad experience across financial markets. He is now active in FX and equity index futures as well as writing for ForexLive™. Eamonn is a graduate of The University of Melbourne in Australia and lives in New South Wales.

4 Comments

  1. And then there’s Barclays screaming “sell, sell, sell!”. Eamonn, what did you think of this piece:

    http://www.efxnews.com/story/19967/barclays-month-end-fixing-model-generates-strong-usd-sell-signal-across-board

    Struck me as a bit odd considering all the data we have tomorrow — would think that’s more likely to be the driver of whatever happens.

  2. Hello Eamon i would like to know your opinion about new zealand economy(how are they doing?) Where do you see nzd/usd in next month? and what levels are important for you at this pair,

    Thanks

  3. I’m with you Fat Tail

    It states:
    “*Barclays month-end fixing model provides signals for trading FX on the last day of the month.”

    I would have thought that with all the data and FOMC tomorrow (and more to come Thursday and Friday) then perhaps the next three days is a good time to turn the model off. Even if just from a risk-management perspective. I think it was Emanuel Derman (author of Models. Behaving. Badly.) who said know when and when not to use financial models.

  4. Hi fast
    NZ economy is doing better than Australia
    I’ve long been a buyer of NZd against AUD
    I’ll try to come back with some levels

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