China bought more Japanese bonds than it sold for a seventh straight month in July, acquiring a net 583.1 billion yen ($6.97 billion) and heading for a record annual increase, Japan’s government reported yesterday.

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Now, even by Japanese central banking standards, this… is weird. Via Citigroup’s FX wire on Wednesday: Apparently, the BoJ has been carrying out what a colleague calls “mock dry runs/drills in intervention” over last few days since it has been a ...

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Oh, AUD/JPY lately, too.

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1) As we all know the Japanese are very large fans of Fibonacci. How many times have I observed double bottoms / double highs in JPY ? Countless. Every serious trader in JPY ( and related crosses ) should be familiar with this fact. 2) We have ...

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Long No. 2 : 106.65.

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Nice "liquidity swap". From banks inventory into Petar´s pockets. Good trade ! First long entry today 107.14.

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image 4 red candle sticks have developped. Usually, already the second candlestick is a CLEAR sell signal according to my models. BUT, keep in mind that wording of BOJ lately, has changed into "decisive" action. Anytime interventions can take ...

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Last print 1.5372. Stay short. Target still 1.5225.

Cable Update (GBPUSD)

Let´s see. So far no long positions. Waiting for the right signal. Today, + 2.1 % Nikkei is a good starter...

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image Although it looks pretty bullish medium-term ( next 16 hours ), I am looking for short entries below 1.5519. First target 1.5225.

Cable Update (GBPUSD)

image The trend is your friend. Last week, first blue weekly candle stick has developed since last 5 weeks. Looking for long entries. Low of last week ( 106.16 ) should be support.

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Trailing profit stop hit. Exit total position.

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Reached 109.35. Next 1/3 position exit. Rest long. Waiting for 110.15 maybe ?

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Trailing profit stop hit. 1/2 position out. Rest long, waiting for US NFP numbers.

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Waiting for 108.74-108.76 to happen next...

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image Image speeks for itself. EUR/JPY managed within two 8 hour candles to fail to break through 108.25. Commitment of traders shows that we have an overwhelming part of speculators ( 80 % ) long JPY ( that means for example hedge funds etc. ). ...

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image The trend is your friend....Need to break 108.25. Maybe overnight our Japanese friends will bid up as it it´s not funny to let JPY strengthen too much...You know not good for the economy and so forth...

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As expected 108.25 hard nut to swallow. In this case it helps if you buy ATM put options ( preferably EUR/USD and USD/JPY ) in order to remember "THE GANG" where to go...

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Seems, Fib 108.25 is an important resistance...Let´s see whether breakthrough to attack 108.74... image image

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