Japanese JPY is gaining strength
As we are preparing for launch of Autobox version 2 for The Alien Room active members, I also shared with them some alerts generated by Autobox v2. In this new version, users are able to set alerts across multiple timeframe from M5 to quarterly. This means that as a forex trader, you are able to browse through list of currency pairs with bullish or bearish close.
Interesting, Autobox alerts picked up these on 16 Dec close/ 17 Dec open.
While market is undecided, one currency stands out - which is Japanese JPY. We see Autobox shows bearish day close for these pairs:
In The Alien Room, we have a early short in USDJPY and GBPJPY which both are in green now. In line with possible weakening USD, we have also a metal trade which is in green as well.
US Dollar at important turning point - market is undecided
I pointed out many times that US Dollar Index is at important turning point. Market simply cannot make up its mind whether it's still bullish on USD or to sell USD.
— TerraSeeds FX Tflow® (@terraseeds) February 16, 2017
AUD is weakening
Another observation is the many bearish close on AUD pairs. AUD being the strongest performance past months started to show a day bearish close. This is something that we need to ponder and observe further. I brought up AUDJPY and AUDUSD in The Alien Room for discussion 2 weeks ago. Near to end of week, we are seeing a fake breakout of AUDJPY. Is this the final push in AUD?
From the trading desk of Binni Ong,
to your trading success,