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A bull trap?- USD/JPY does a Volte Face
Since the initial reaction higher in the USD/JPY which saw it jump immediately above 154.40, the dollar has since fallen back below the earlier lows and that seemingly has triggered a whole bunch of stops reversals below 153.88. The dollar has traded to 153.53 and that has surely wrong-footed traders in the aftermath of that CPI report. As to whether it extends further on the downside is not clear, but we are not ruling out under the current price action conditions. The USD/JPY is right now at 153.69 and we also note a further slide in the EUR/JPY, which we noted earlier on
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Dow Jones sure kicks off on the front foot this afternoon
We shall come back later perhaps with the precise opening for the Dow Jones this afternoon, but suffice to say it was markedly higher and effectively...
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A bull trap?- USD/JPY does a Volte Face
Since the initial reaction higher in the USD/JPY which saw it jump immediately above 154.40, the dollar has since fallen back below the earlier lows...
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A very lively two-way reaction to the US CPI data- check out the S+P 500 futures now
The immediate reaction to the US CPI report was rapid and dramatic across a number of markets. We already covered the USD/JPY and Gold and now we look...