Short EUR/JPY (From 3-May to 9-May)

We were stopped out in our short EUR/JPY position in profit (9-May)


Real-Time AmpGFX – Order Update (Tue 5/8/2018 1:53 PM MT)

Positions

Short half unit EUR/USD at 1.2206; s/l 1.1943; t/p 1.1788

Short half unit AUD/USD at 0.7517; s/l 0.7488

Short half unit EUR/JPY at 130.77; s/l 130.23; t/p 128.28


Real-Time AmpGFX – Sold EUR/JPY (Thu 5/3/2018 11:30 AM MT)

Sold half unit EUR/JPY at 130.77

Comment

Eurozone CPI core much lower than expected. There is much discussion that this data was biased down by special factors in April, such as the timing of Easter.  Nevertheless, the data was 2-tenths of a ppt below expected.

EUR/JPY is down with the equity market today, and it may now become a more influenced by equities with USD/JPY has recovered from 105s to 109s it may start to find upward direction less forceful.

Equities may now be more responsive to rising US yields around the 3% level.  For instance, if the US labor report is strong on Friday, a bump in yields could undermine equities, and add to downside pressure to EUR/JPY.

Political risk may yet feed through to a weaker EUR/JPY as the market contemplates Abe losing a LDP leadership vote due by September, creating uncertainty over the sustainability of QQE policy and possible tighter fiscal policy.

Positions

Short half unit EUR/USD at 1.2206; s/l 1.2078 (lowered from 1.2178); t/p 1.1788

Short half unit AUD/USD at 0.7519; s/l 0.7558

Short half unit EUR/JPY at 130.77; s/l 131.33; t/p 128.28



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Greg Gibbs,
Founder, Analyst and PM
Amplifying Global FX Capital Pty Ltd